Posted by forex at 8:27 AM
Read our previous post
1. First sign up with an online brokerage firm such as "E*Trade" or "Scottrade". Both are actually fine companies I'm just spoofing here.
2. Next send them your hard earn $1000 dollars. Wire it to them or send a check.
3. Start researching all those penny stocks that are hyped about hitting big. Buy all the ones you can.
4. Now here's the trick. When you get a little nervous, because your stocks are dropping in value, trade them for some other crappy penny stocks. Keep doing this until eventually you're at about 5 dollars. The commissions on trades alone can eat you alive. If you're really good try to go lower!
5. Ok. Lessons learned: don't buy crappy penny stocks hoping to get rich. If you do play the stock market, it may be better to hold on to them and ride the wave.Day trading is a tough and risky hobby so don't get sucked into believing its going to make you rich unless you really know what you're doing and are willing to take the risk!