Posted by forex at 7:11 AM
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1. Learn the ropes- Devote 20 minutes a day to learning about the stock market. Read FREE online guides and try not be roped into expensive tutorials or trading robots. You will already be in the hole, and that is not the end goal!
2. Set up an online brokers account- I use Scottrade, but there are several other firms that offer the same type of services. Most charge about $7 a transaction, and utilize local stock brokers to guide you along the process of trading.
3. Focus on one market- the Dow Jones sees a lot of action, and the learning curve is fast and furious. It also changes throughout the day, and one stands to make a substantial amount of money in time to have breakfast on the table. In addition, trading penny stocks is a great way to buy stocks cheap. Watch them return by the end of the trading day. I have a friend who has made $2,500 this month by spending $500 in penny stocks- not a bad return. If planned correctly, day trading can become a successful and lucrative home business.