How to day trade for a living?

There are many day traders out there and all of them have different ways of handling their stock portfolios. The reality is that there are many people who utilize their day-trading skills for their living. It might sound weird to many people but the reality is to understand that many people do the trading in their own way and are sure about earning from it that they do it for their living.

There is no universal law behind doing successful trading but it is important to build your own strategies to make up your day trading experience as an amazing one. It requires hard work and an intense understanding of the concepts. The main aim of a day trader is to make the appropriate move in buying and selling of the stocks without keeping them for a particular duration. It requires staring at computer screens for a long time and making efforts in understanding the short-term gains from the stock(s).

Perquisites for Day Trading

Training: Before considering your leap towards becoming a full-time stockbroker, it is important to see if you’re properly equipped for the trading. You need proper training and apply the right logic to understand the things in a better way. Your chances of succeeding would depend on the hard work you do for understanding the things. There are free and paid resources available online for increasing your chances of succeeding in day-trading.

Experience: Nothing can teach a trader better than the experience. You can read hundreds of books or material on day trading but could fail for months after starting it. It is essential to spend some actual time on trading before getting the real feeling for the markets. There is no definition of the number of years of the experience required as the traders will learn at a different pace. One trader might become an expert in one year and the others might take a few years to learn the skills.

Consistent Approach: Consistent trading would make you a full-time trader. It is required to get realistic expectations for the future and develop the applicable skillset for the future. There is more long-term value in making a regular income per month than making a big amount in the first month and getting nothing in the rest of the year. The higher short-term monetary value is essential for the day traders and there are better aspects to grow with the consistent approach being followed by the traders. Consistent trading is important to move ahead with the apprehensive approach.

Becoming a full-time day trader

Full-time day trading or a job?

Both are beneficial for the investments of their own kind. The conventional job guarantees a fixed salary and other benefits but the day trading has better scalability and allows you to become your own boss. Full-time day traders can love the challenges offered by their jobs and it might sound appealing to go ahead with the work that constantly challenges you. A full-time day trader will have less stability in the beginning. You might have great months, bad months or exhausting phases and this roller coaster of emotions will make you a different person than you are now. It can be stressful if you keep on getting failures in your career.

Financial Considerations: Build a Safety net

Leaving your job will mean that your guaranteed source of income is no more available. A day-trader has no salary and you have to make your own moves in getting the tasks done perfectly. There has to be a customized financial plan created by the day traders and it must include the saving of money for the next 2 years. This will reduce stress and enable proper financial management in all the ways. You can make smart decisions by calculating your expenses and planning to pay them in the right mode. It is better to overestimate the expenses than undervaluing them. A day trader has to account for food, rent, toiletries, utilities, bills, entertainment, insurance, taxes and everything on their own. Don’t reduce your needs as it will make you live in suffocation. If you have a budget of $3000 for yourself, stick to it and make efforts to achieve it through day trading. If you’re thinking to reduce the budget to $2500, it will become burdensome and completely vague. Be realistic and accurate to plan in the best way. The end goal of a day trader or doing a job is just the same: to earn and spend.

Stock Trading Account

The importance of saving money to invest in the next step and cover your expenses is very important. You will need enough money to trade regularly (According to Pattern Day Trader rule: $25000). Choose a number to set up the accounts and give the best chance to yourself by investing in the right strategies. Sizing up the account too early before the learning consistency can put you at the risk of losing rapidly. Your expense account and brokerage account have to be separate in every way to make the perfect investment move.

When you become a full-time trader, there will be 100% accountability for every activity. You will be your own boss and doing every transaction on your own will. Make sure that you keep the proper organizational skills to make the most of the process. If you enjoy doing everything with your personalized ideas, then day trading will be the best for you. Financial planning involves the indulging of every task to make the leap. Day trading is a rewarding career having a big list of perks and benefits. People can prepare well for the transition in their life and do exciting tasks by getting in there. This brings you on the right track and takes a realistic approach to get towards a better move with the most appropriate day trading strategies. Day traders have earned millions with their smart work. It depends on your own wit to apply the right techniques to earn in the most rewarding way.

Stock Trading Software

Any software which serves as an assistance to a user in analyzing and trading of stocks is known as a stock trading software. While some brokerage firms give the provision of trading software to their customers to manage their accounts but third-party trading software can also be purchased for better increments or improvements to the already provided software.

Application Programming Interfaces (APIs) and Electronic Communication Networks (ECNs) have given the stock trading software immense popularity and their usage is multiplying each day. There are several kinds of stock trading software but stated below are the key common features provided by such software-

  • Placing Trades-

One can place trades via trading software. Market orders, limit orders and some other orders of advanced type can be placed from trading software.

  • Technical Analysis-

There is a possibility of inclusion of interactive chart trading capabilities which further include both chart patterns and technical indicators.

  • Fundamental Analysis-

For the simplification of the work of their users, many trading software gives their users the right to extract fundamental knowledge such as analyst ratings, financial statements, and some other specific tools.

  • Programmatic Trading-

Advanced software reduces the task of the user by executing the trading systems programmatically instead of using manual commands for the same. This helps the users to analyze their work better because the software also provides the back-testing function.

  • Paper Trading-

This is for the ones who are not yet ready to enter the stock market. Some software provides paper trading to their users. This helps the customers to check how well they are capable of performing in the real stock exchange.

Before actually opting for stock trading software, it is important for the trader to check what their requirement is and also evaluate the kind of software that suits their needs. Also, one should decide on such software after seeing their financial status because all these things make the work easy but require money. Investing in stocks is putting money on stake and someone with limited finances should either not go for any software or choose software which requires minimal investment.

Many active traders’ common choice is for automated trading systems and for this purpose they could choose different and up to date trading software which does maximum work rather than just placing trades. The basic fundamental of every trader should be to maximize their profits and choose the software accordingly.

The best trading software to choose from are-

  • StocksToTrade

This software is most appropriate for penny stock traders.

  • Townsend RealTick

It is the best software for market data.

  • Profit.ly

This software is very well suited for all those who love day trading, i.e. day traders.

  • Eye in the Sky Trade Planning

For the ones who want accurate technical analysis, this is the finest software for them.

  • Jigsaw Trading

It is one of the top-rated software for decision support.

  • TurboTax Prep.

If anyone wants a software for tax preparation, this is the software one needs to download.

  • Stock Vision- Power Scan

This is best suited for the ones looking for screener software.

  • Worden Telecharts- TC2000
    Certainly, this software is excellent for the ones who require charting software.

SIMPLER OPTIONS

John Carter, who has authored Mastering the Trade, started simpler options in 2010. Simpler options is an online trading society in which John Carter and other professional traders tell their online community about the real-time market analysis, superfluity of the educational sources and actionable ideas of trade. This platform allows the traders to form trading schemes, analyze the market and then make decisions accordingly. The new traders in the stock market can learn many tricks from professional and experienced traders.

Simpler Options is a very famous online trade learning platform and the mastermind behind it is a person who has specialized in trading in options for about 25 years. John Carter also trades in stocks and futures along with options. It is not easy to trade alone when new in this business. Training is required so that the trader can take the right decisions at the right time. It helps the trader to gather confidence because that is very necessary to earn gains.

This platform is paid. There are a few packages offered to the customers based on their discretion to choose the right one amongst them. Listed below are the packages offered-

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  • The Silver Package

This package is available to the customers at a price of $79 per month. The user will have the right to use trading room archive, premium nightly video and the community of options trading forum.

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  • The Gold Package

Available at the price of $147 per month, the user is accessible to all the facilities stated in the Silver package with a few additions such as receiving live trader alerts through email or SMS and live chat room openness. There are some other features that can be easily used. Maximum learning comes from the chat room and it is recommended to go for the Gold package in place of the Silver one.

There are other packages too and some of them are really expensive. It depends how much money someone wants to spend on these sessions. “Ultimate Guide to Trading a Portfolio Margin Account” is the most expensive package with a time duration of 1,145 minutes and is available at the rate of $1,999. In these sessions, John explains in depth and gives strategies and the ways to implement them when using portfolio margin and also how to earn the additional benefit.

These trading sessions are basically for options trading and include interactions with highly skilled traders and also lessons from other sources such as trading books and even Mark Douglas who has authored Trading in the Zone. All this makes joining Simpler Options a worthwhile experience.

This website is for all kinds of traders, from economical to rich. The initial prices are not too high. It is a complete educational program for all those people who dream of becoming thriving traders but do not know which the right path is for them. Over and above, this is a beautiful platform to enhance one, trading skills and become a dignified and accomplished trader in less amount of time.

How to get into stocks?

Getting into stocks can be compared to starting gambling for any new person at least. Stock market trading is full of jeopardy and uncertainty. Money can double in two days and one can even lose everything within no time. It is good to start with a less amount of money so that even if that is lost, one does not lose much. Let us have a look at the ways by which one can get into stocks. These are a few ways by which one can successfully enter the stock market and emerge victoriously.

  • The stock aspirant should always check his/her financial condition before investing. A person whose financial status is healthy and if it is permissible for the person to invest in another business only then one should put the money at stake. If one is in debt and the amount is hefty then it would be foolishness to dive into this very deep pool of stock exchange.
  • Having a well-maintained cash reserve is very necessary because investing less is only testing; actual trading is done when the investment is more. One needs to save enough money before trading so that the losses if one incurs them, do not affect the economic stability of that person.
  • Opening a retirement account may help the investor because then long-term investments are easy to make. These accounts are profitable to make and also sheltered from taxes, so double profit.
  • Low-cost online brokerage accounts are best to open when someone is in the initial stage of stock trading. Less amount of money is spent on the accounts and one can earn better profits. Once the person becomes successful in trading, anytime better and high-profile accounts can be opened.
  • Before starting with stocks, the stock aspirants can try their hand at mutual funds or Exchange Traded Funds (ETFs). Mutual funds offer better opportunities for a newbie. Once the person has mastered the trade of mutual funds, he/she can switch to stock trading for better profits.
  • When the investors choose index funds, they can trade in mutual funds better because then the tension is reduced up to a certain extent.
  • While investing one should step by step increase the amount of money invested by averaging the cost of the dollar. This can help in protecting against losses because the money invested gradually is not lost all in once and gives the investor time to recover the losses if incurred.
  • Taking some training before actually starting trading in the stock exchange is quite necessary. There are several online chat rooms, journals, and tutorials, both highly and moderately priced available on the web. Investors can choose as per their own discretion. This prepares the person for all sorts of situations that may be faced in the real world.
  • When someone finally enters in the stock market, one should grow gradually. Individual stock investments need to be made wisely so the investors should give themselves some time before making these depositions. When slowly and steadily the buyers invest in individual stocks, this can bring back fair profits.
  • Investments should be diverse and all the money should not be piled up at the same place. The investors can secure their money by investing in several types to stocks, funds, etc. Even in the case of stocks, the buyers should keep changing companies from time to time as per their progress.

Motley Fool Stock Picks

Motley Fool is the best option for the people willing to get better stock returns by paying a nominal amount for getting the best stock picks. There are a series of 12 stocks per month which can give you best returns over the investment. The stock advisor picks have a proven record for outpacing the performance. It is not an interactive platform but a list of stocks having a good scope in the coming future. There will be a list of recommendations of the blue-chip winners across the board.

Motley Fool Stock picks are the best for buy-and-hold investors and the people who look for the reliable stock picks to invest. It is obvious to get transparent views for the new investors or the active people on the stock list. The most important stocks from the big listing are given through this stock. It doesn’t cover penny stock investments but you could check the low-rated stocks on the major stock exchanges to make an appropriate move. Moreover, there is no technical analysis done for the stocks. Online stock trading requires the right approach to pick out the right stocks from a list of many of them available. Fool’s Stock Advisory service can give twelve spot-on stock picks per month. There have been many examples depicting a growth of 392% with the stock pick returns. The package can be purchased for only $19 a month and the stock picks could really help you to grow your money.

Motley Fool Stock Advisor

This is the best plan for the newcomers who wish to enter into the stock world by getting information about the stock picks available. Your research can become easy by looking at the 12 stocks chosen by the experts. The stocks illustrated on Fool Stock list will have stocks having higher trade volumes and the right price. There will be no technical analysis presented for the investors but the fundamental analysis will be illustrated well. The financial statements, overall health, and competitors would be given by the application. Investment education is necessary for the stock analysts and this advisor platform has much to offer you at a reasonable fee.

We’ll focus on Favorites, Performance, Research and Community, which is where the bulk of important information is located. Everything can be viewed as per the different sections available on the website. You can collect and track your favorites and link your brokerage account to get buy/sell the recommendations on the stocks owned by you. The performance section is the data-rich portion of the website. You will get the stocks broken down into different categories. The list is updated on every Thursday where you’ll get the fresh list of stocks as well as the historical data.

There is in-depth research available for the stocks chosen by you. You will get trending and innovative topics on the web. The stock advisor research reports will help you to know about the companies and analyze them in an appropriate way. There are discussion boards focusing on the recommended stocks, earnings reports, latest news and comments on the recent articles. The website uses an intuitive user interface for getting the information immediately after signing up for stock advisor. The cost of a stock advisor is $99 annually or $19 a month.

Wall Street Survivor

Wall Street Survivor is an online stock trading platform to try the stock trading without paying off any charges. This fantasy stock trading platform gives realistic paper-trading experience and educates the investor in the best way. It works for demystification investing and personal financing through comprehensive education and interactive sessions. The concepts need to be broken into easy and understandable training for the most promising results. There are the best courses having a scope to learn the stock market virtually. Wall Street Survivor program helps in learning the stock trading concept in the most rewarding way to manage finances. There are many personal investment courses designed to teach the basics to set up stable finances with proper stock management strategies.

The aim of Wall Street Survivor is to give the right platform for practicing stock trading and participation in cash prizes. The concept of this platform is to keep discipline and practice with the fake money first before creeping into the world of real trading.

Opening an Account

Wall Street Survivor account is easy and quick to open. There will be only a few questions to answer and it even allows anonymous accounts. If you don’t want to get spammed, it will be required to get uncheck the boxes asking you for the same. The next steps will ask you if you are interested to take up their ‘special offers’ and if you don’t want them, click on ‘no thanks’ option. The website supports itself from the advertisements and you’ll get many of them in the account opening process.

After opening the account, you can log into the platform with $100,000 virtual money in it. You can buy stocks or ETF virtually on the stocks on major stock exchanges (NASDAQ, AMEX or NYSE). The platform allows you to look for the stock symbols easily. The usual information about stocks with their last price, bid, open, volume, P/E ratio, Earnings per share and other important details are given with the real-time quotations for a fantasy trading experience. There is a ‘Stock Talk’ section for each stock in which the members can post their comments about that particular stock. It is just like commenting on a particular blog post. There is a sense of community for the interactive experience of the stock analysts. The details about each stock are illustrated for making the right decisions for trading. These tools have the potential to invest in the most successful plan for investment. There is charting for each stock with many options you would expect from the charting platform.

To conclude, Wall Street Survivor is an appropriate platform for learning. This virtual trading software with the community feel has made it easy to come across the interactive sessions. The advertisements will be a bit of problem for the viewers but ultimately, the website will be good to make money and learn the right techniques of trading. The virtual learning experience gives a full feeling of real-time understanding of the trading methodologies and concepts.

ADRS

A flexible certificate which is issued by a depository bank in the United States is referred to as an American Depositary Receipt (ADR). This certificate characterizes a specific number of shares or can be issued for a single share also and even for making an investment in the stocks of any foreign company. Just like stocks, ADRs also trade on the U.S. stock exchange market.

One of the main advantages of ADRs is that one can trade on many stocks internationally also, because of which there is a dual benefit on both sides. Some of the international companies which are otherwise not unlocked to doing commerce on the United States market can also trade via ADRs.

ADRs are traded only in the denomination of American dollar. This makes the trader’s tension free in terms of trading because they do not have to deal in different currencies. ADRs deal in New York Stock Exchange (NYSE), NASDAQ, and American Stock Exchange (AMEX) and also via Over-the-Counter (OTC) contracts. United States’ stock market gets another plus point because any overseas trade is only made when the country shares the full financial report about the companies and their stocks.

ADRs are categorized as follows-

  • Sponsored ADRs

The foreign companies that get issued ADRs from American banks have to pay all the costs of the ADR and with this, they also get complete control over their transactions. An authorized contract is made between both the teams and the bank handles all the dealings. Such American Depositary Receipts are called Sponsored ADRs. Furthermore, the foreign companies should totally meet the terms set by the U.S. Securities and Exchange Commission (SEC) and also the procedures of American accounting.

  • Unsponsored ADRs-

Such ADRs are not for any foreign companies directly. These can be issued by banks to those foreign companies which have already obtained sponsored ADRs from any other bank. These ADRs can have different dividends. A foreign company can have only one sponsored ADR and various unsponsored ADRs.

The major difference between these two ADRs is that where the sponsored ADRs can trade via all transactions and on all major stock exchanges of the U.S., unsponsored ADRs can only trade through the Over-the-Counter (OTC) trades. Also, sponsored ADRs are generally registered and licensed with voting rights.

There is another classification stage of ADRs where these are sorted amongst various levels. These are stated as follows-

  • LEVEL 1

Not all foreign companies can trade with this type of ADR and some of the companies do not even meet the criteria to trade in this ADR. Such ADRs are not utilized to raise capital but they can be used to set up their trading existence. Also, these only trade via Over-the-Counter dealings. These are also more speculative than all other ADRs. Investors who take risks are the ones who typically deal here. Their cheap cost is the basic reason of attraction for many traders to make an investment in these.

  • LEVEL 2

These ADRs are also not employed in raising capitals but have the potency to create their trading presence. These are overall better than the Level 1 ADRs because they have better requirements from the Securities and Exchange Commission and also get superior trading volume and greater visibility.

  • LEVEL 3

These are the best because they along with establishing their trading presence also give foreign issuers an opportunity to raise capitals. These ADRs have to be completely reported to the Securities and Exchange Commission and this accounts for their greater transparency.

Pre-Market Trading

Pre-market trading is defined as the buying and selling in the share market before the regular trading session begins. It starts from 04:00 am in the morning and has its peak time between 08:00 am and 09:30 am and it closes at 09:30 am from when the regular trading session starts. Examining the main points, strategies and effectiveness of the market is usually the main purpose of professionals fulfilled in this session. Also, this market is used by stock aspirants who are looking for better options and stocks in the hope of earning gains.

This trading is for the ones who have the patience to tolerate the delays and volatility of the prices. If there are pros of trading in the pre-market sessions, they definitely come with some cons too. It has very limited stocks to choose from and sometimes, even the quotes for several stocks are unavailable. Contrary to this, some companies make various important proclamations in such sessions. People can take the maximum benefit of such news in a session where less competition and better opportunities are there. Generally, the stocks of big and well-established companies get their trades in the pre-market session very easily. The reason is that people trust these companies and there are very rare chances that their prices will show any sort of fluctuation.

Pre-market trading bears the real fruit for a trader who knows all the tricks and has the tact of dealing in this industry. A trader experienced in the field of stock market trading is the right person to deal in this session. One has to stay all through active and alert during such sessions because different brokers open at different times in the pre-market. Looking for the best can take some time because one account may open at 04:00 am and another at 08:00 am. Therefore, constantly looking for better options is the best way to earn profits in pre-market trading.

Mentioned below are some sample stocks that can be traded in the pre-market sessions

  • MICRON TECHNOLOGY, INC. (NASDAQ: MU)

Dealing in the field of the semiconductor memory industry, this company was founded forty years back on 5 October 1978. It produces and markets all sorts of computer memory and computer data storage devices. Its headquarters are located in Boise, Idaho, United States. Sanjay Mehrotra is the current President and CEO of the company with David Zinsner as the Senior VP and CFO.

  • MCCORMICK & COMPANY, INC. (NYSE: MKC)

This is a food and processing company which has two business units namely Consumer and Flavor Solutions. It deals in the production, marketing, and distribution of all kinds of spices, seasonings, condiments, etc. 130 years ago, in 1889, Willoughby M. McCormick laid the foundation of this company in Baltimore, Maryland, United States and is presently headquartered in Hunt Valley, Maryland, United States. Lawrence E. Kurzius (Chairman, President, and CEO) and Mike Smith (EVP and CFO) are the current key people of this company.

Tim Grittani

Tim Grittani is famous for the creation of the trading course Trading Tickers. It is a perfect study having a feat of turning $1500 into over 6 million dollars in three years. Grittani is termed as one of the famous ‘millionaire students’ written by Timothy Sykes. Grittani made used of the small accounts teaching himself to trade and found penny stocks through Tim Sykes study material. He shortlisted OTC stocks that were victims of pump-and-dump schemes. At present, Grittani has moved towards NASDAQ stocks from the OTC stocks.

Grittani shares all the trades on the trading journal website (profile name: kroyrunner) which is run by Tim Sykes, his mentor. There are no audited brokerage records given but he gives the winning and losing trades to his YouTube channel. Grittani is considered to be a transparent teacher in the industry.

Course

Tim’s trading philosophy is ‘trade the ticker, not the company’ and all the strategies defined by Tim are on the basis of this quote by Nate Michaud. The pace of every trader might vary in this case and they might take several hours in building their psychology for the personal trading journey. Tim’s suggestions can give you an idea to trade strategically but live trading will illustrate the actual mode to do the same.

Tim’s trading pattern makes him a unique trader. There are hundreds of trading courses available on the web and some of them would be stock promotions for the new traders. The trading pattern by Tim will revolve around OTC pump-and-dump schemes and tracking down the promoters to find out the ways to determine the long and short version. Tim can help you to walk through his methods for promotion of the trading concepts by a throwaway email or Google AdWords promotion.

After compilation of a large list of penny stock promoters, Tim tests each of them by checking their past records. The technical trading strategy is very clear: Look for the volume of the stocks traded, look to enter with the block trades and never trust a promotor for buying the stocks of their recommendation.

The trading of penny stocks will include most breakout strategies. Penny stocks are worth trading only when they are illiquid and trading in a particular range. Tim’s trading strategy is based on the penny stock breakout trading (trading and fading with the breakout).

Multi-day breakouts

This is a setup established by tip which includes a stock breaking out of a long-term ranging, consolidating for a few days and breaking off aggressively towards the upside level. The tips used are:

  • Buying into the strength at the breakout period of the stock.
  • Waiting for dips for the establishment of full position.
  • Dipping below the breakout level and not comprehending it as a failed breakout. It happens often in the OTC market.
  • Stop losses taken as an intraday support level.

When you hear about Tim Sykes, a lot of trading motivation comes inside and you will be prepared to see a rich figure. Grittani is no less than a dream seller and his specialization in OTC stocks is worth your understanding.

Warrior trading review

Warrior trading was once a blog initiated by Ross Cameron in 2012. The mission of the blog is to create 50K freedom traders who aim at living their life independently by 2020. The company has over 5000 premium members with 500K active traders at the moment. This is a very good platform for active day traders requiring trading education. Warrior Pro service offers group-wise trader mentoring. It is the best option for people looking to work on their personal terms and seeking supplemental income. There are a large number of traders on the warring trading platform. The website provides structured training methods with extensive educative techniques for trading. However, the trading strategies discussed are mainly short-term and unsuitable for investors with lower risk tolerance.

Warrior Trading was nominated for Best Educator in 2016, 17 and 18 at Benzinga Fintech Awards. Warrior Trading’s position is the education industry leader and if you’re thinking about getting the best-paid education and mentoring services, Warrior Trading could be the best option you’ll be looking for.

Warrior Trading is an investment research platform focusing on imparting educational resources, chat rooms, stock market stimulators, and potential day traders. There are various courses like group mentoring, online courses, webinars and other resources designed to make you the perfect short-term trader. Warrior trading might be an option for supplemental income for the people doing any business or job as it would be a way to work on your own terms.

There are valuable guidance and education for teaching the traders about the pattern of trading. The style of successful trading can be learned with Warrior Trading through a chatroom discussion area during the market hours. It includes swing trading, scalping, and short-term day trading. The basics to advanced level techniques can be developed by using your own trading plan on trading successful formulas used by the expert traders. The courses offered by Warrior Trading require upfront cash to learn investment in the right way. You need to pay a regular fee to continue the use of Warrior Trading services after the initial learning phase is over. There is fair price included for checking out the webinars, online workshops and e-books.

Product offerings

The quality and extensiveness of the trading courses are the major benefits of the content of the trading courses. The course section has featured videos and teaching material with the downloadable transcripts. Once you are confident about the mastering of material, there is a quiz available to check out your knowledge. The material is created by the mentors and experienced traders having expertise in short-term marketing swings.

Starter Course: The starter course of Warrior trading gives an opportunity to learn to trade at your own pace. You will be able to check the online community and sophisticated tools, such as real-time trading stimulator. There are several topics included with fundamental and technical analysis.

Warrior Pro: There is a specialized 90-days trading educational plan to match the needs of traders having different experience levels. There are new learning programs aimed at getting the traders to move towards the expert path. This will include the Warrior Starter program features and access to masterclass courses, group mentoring sessions, chat rooms and scanner settings.

Tradervue

Tradevue was founded by Greg Reinacker as a platform to trade stocks, forex, option, and future. It has provided a smart way to plan stock performances, journals and learn about the stocks. The traders can build their own strategies and the right ways to ensure better profits. It is feasible to make mistakes and get ahead with the most fruitful ways to gain better returns over investment.

Tradervue can make you a better trader and the company provides improved risk management for the stocks to work well in all the aspects. There are many social platforms for the traders to discuss various stocks and the new strategies, this one gives the best ways to improve the actual trade ideas. These ideas include making the right entry and exits throughout the process of trading. This has helped to fill the real trade strategies to actual traders. Many new traders use Tradervue to understand the concepts in more systematic way.

Tradervue Products

Tradervue provides the best opportunities for traders to improve their trading pattern and do profitable investments. As the powerful online trading journal, there are the following features in Tradervue:

  • Trading Journal: Traders can import the traders directly from any trading platform or broker. The files can be imported in Excel or text form. You need to understand that Tradevue doesn’t support all the brokers and to know the list of the brokers it supports; you can check out the website.
  • Tagging and Filtering: This feature allows the selection of particular trades by filtering the requirements. You can use tags, symbols, date range and duration for viewing as journals or reports.
  • Trading and Daily Notes: Users can make notes about their trades with the daily notes’ features. There can be notes made for traded and non-traded days.
  • P&L Charts: Traders can study the charts including the moving average rates. You can check out the comparison charts with other stocks or index. The highlights about the trading can also be viewed through these charts.
  • Reporting: Users can analyze their performance with the major aim of improvement in the trades. There are chances to view the daily and cumulative P&L with the volume changes.

Apart from this, the system even allows the advanced comparisons, liquidity reports and traders are able to view their volume, duration and other factors as per their requirement.

Trader Sharing

Traders can share ideas and trades with the community. It will help them to learn and get feedback for work. The platform will allow them to share all information as per your own requirements. There are three plans included for the Tradervue pricing: Free, Silver and Gold. The trader can choose their appropriate plan as per the investor requirements. Your trading performance can improve with the fast, simple and powerful tools. The wide range of features will include trading sharing, journal, and reports. You can visit Tradervue to get the whole information about it. Learn more and implement the best strategies floated by Tradervue to implement trading in a smart way.

SureTrader

SureTrader is a Bahamas-based broking company regulated by the Securities Commission of the Bahamas. It is an option for the traders who are willing to trade below the PDT level of $25,000 and those with the less amount in their hand can trade as much as they want. SureTrader has an issue with some platform glitches and customer service department and it depends on each individual to undertake these bugs in their own way.

SureTrader even allows international investors to trade and the people having experience and low money can actually benefit from it. The company offers low brokerage with a minimum deposit of $500. There are sophisticated trading rules allowing Instant access to real-time market data and multiple chart features. It also gives $50 for the new accounts as a trading bonus.

Use of SureTrader

Beginners

This could be an encouraging platform for the beginners as they can learn the trading concepts with a free demo and a nominal account without bearing any losses before making a trial for the real world. The account minimum levels are low and the new day traders can flexibly begin and get the idea about day trading. A section of the website is dedicated to the new day traders.

Advanced Traders

Any advance trader will understand the value of the no-pattern day trading rules but on hitting the $25,000 mark, they will be gone. SureTrader Pro/SureTrader Desktop will be run by the professional traders. There are advanced charts and features to assist the seasoned dry trader in a better way. Shares of pink sheet stocks will even make the traders fall in love with SureTrader.

Three trading platforms

  • SureTrader Web-based trading: Free of Cost
  • SureTrader Mobile (iOS and Android app): $25/month
  • SureTrader Desktop: $49/month

The software comes with a fully integrated point and clicks trading for customized market views. The overall glance of the web trader can be viewed on these platforms and they can have easy access to the PL reports.

Customer Service

The customer service of the company is a little on the controversial side. The reviews suggest that live help is slow and phone lines have long waiting or no-response. There are controversial comments of the people regarding the response of the customer service department of the company.

Easy-to-use platform

This is the major factor for which the money-makers become inclined towards SureTrader. The customers have found a user-friendly approach for the platform. The new account can be opened by providing the scanned identification and utility bills. It takes only a couple of days to approve the account by the trader.

SureTrader offers Options, ETFs and Equities at the moment and there are no commodities, forex or mutual funds traded at present. The traders need to understand every aspect before diving into the world of trading with SureTrader. The US clients need to comply with IRS rules to trade with SureTrader. It is a great option for newcomers to get to the world of easy trading and attain the best possible experience.

Pattern Day Trader Rule

A trader positioned under the Financial Industry Regulation Authority (FINRA) following the rules devised by this federation is referred to as a pattern day trader. The pattern day trader rule also known as PDT rule states that a dealer who makes 4 or more-day trades in 5 consecutive business days within a margin account on the condition that the total number of these trades is more than 6% of the entire buying and selling doings of the purchaser in that same five-day period.

The rule mentioned above is only the basic rule or the definition of a pattern day trader. There are many important terms and conditions associated with this. A trader who day trades can only come under the category of a pattern day trader. Day trading is basically the activity of buying and selling the equity or equities on the same business day in any of the pre-market, regular or post-market sessions. Any trade carried forward to the next day is not at all included in day trading range.

Another decree is that the trader can only trade in a margin account and should compulsorily have minimum security of $25,000 in the form of cash or other equities. A dealer can only execute up to the utmost of four trades in a single business day. Upon beating this limit, the association issues a margin call which has to be answered within five successive business days and during this duration, the customer’s trading activity is bounded to only two trades per day. In case the call is unanswered even in these five days, the buyer can only deal one trade per day and that too only in terms of cash trades for a period of 90 days or till the time the margin call is reverted to.

Any trader who is not a pattern day trader can automatically be included in this group if the person sufficiently fulfills all the required conditions.

What is Round Trip?

One only has permission to make three-day trades in a period of five continuous business days. If one buys the same stock but in three trades on a single day and then sells the whole lot in one day, it can be taken as one day trade or even three-day trades. On the contrary, if one buys stock in one trade and does the selling of that stock in three trades and if this is all done on the same business day, it can be accounted to as one day trade. If this condition is unfulfilled, the trading activity is subjected to restrictions and reductions similar to those of not answering the margin call, i.e. the trading activity is lowered to certain extents for an episode of 90 days. The restrictions will end if the customer deposits an adequate amount of $25,000 in the account. The options are either wait for 90 days or deposit a sum of the required amount. This round trip is continuous and is refreshed after every five business days.

These few are very important and must be followed regulations of Pattern Day Trading which is now a very popular trend amongst the people. If a person follows all the rules and carefully trades in the market, fair profits are bound to come.

Sub Penny Stocks

Stocks that trade at a value of $1 penny per share are known as sub penny stocks. It is usually not preferred to invest in these stocks because of their extremely low price and very low chances of obtaining profits. It is really very hard to extract information about the companies with these stocks because these companies not well-known and don’t usually share their information on the web. Even though it is risky to make investment but the investment is very less, the loss will also be less if it is a short-term investment. Long term investments can probably get more losses. There are a lot of companies in the market that just befool the customers and make them fall in their trap.

Penny stocks are taken to be a better option when sub penny stocks and general penny stocks are compared. One has to devote a lot of time to do research about the companies they are going to invest in. Internet is not a very good source when it comes to sub penny stocking. Stocks and their ranges can be found practically from persons who have done dealings in this business. Those are the ones who can bring the real picture in front of one’s eyes.

Look out for stocks which have given profits to the shareholders in the past and have the chances of doing so in the future. One should not make investment if a company is listed under the name of Dark Market stocks or Pink Sheets. The Pump and Dump is a popular strategy used by companies to loot people. Many companies can be deceptive when it comes to giving returns to the investors.

Penny stocks have as many advantages as disadvantages but sub stocks have more of cons and very less pros. The investor who has lesser amount for investment would only invest here because they cannot invest in high profile and expensive companies. One who has less will invest less and if that money also undergoes loss, then the investor is left with nothing.

Sub penny stocks are highly volatile as their share values change very quickly. If the value of a stock increases within no time, it has a probability to decrease very quickly. It is very difficult to rely on a single company and short-term investments might prove profitable. One must try to keep oneself updated about the latest trends going on in the stock market. Marijuana and tech stocks are the current best stocks considered in the US and investing in these can hopefully give fair gains.

Some of the sub-penny stocks popular right now are-  

  • American Petro-Hunter Inc. (OTCMKTS: AAPH )

52 Week Range: – $0.0001- $0.0050

Volume: – 200,000

Average Volume: – 198,742

  • AimRite Holdings Corporation (OTCMKTS: AIMH)

52 Week Range: – $0.0024- $0.0200

Volume: – 900

Average Volume: – 48,521

  • American Defense Systems Inc. (OTCMKTS: ADFS)

52 Week Range: – $0.0065- $0.0400

Volume: – 10,000

Average Volume: – 32,372

  • American Films Inc. (OTCMKTS: AMFL)

52 Week Range: – $0.0080- $0.1000

Volume: – 3000

Average Volume: – 5863

  • AmeriStar Network Inc. (OTCMKTS: AMWK)

52 Week Range: – $0.0050- $0.1000

Volume: – 500

Average Volume: – 415

Timothy Sykes

Timothy Sykes is a successful penny stock trader who has earned over $1.65 million by day trading when he was a student at Tulane University. He graduated in 2003 with a bachelor’s degree in philosophy and a minor in business from Tulane University. He is presently working as a financial activist and educator.

His website TimothySykes.com serves the dual purpose of his personal blog and also a website devoted to penny stock trading. He launched this website in 2007 and in 2009; he commenced a new website Investimonials.com which is used to collect user reviews from several sources such as financial services, videos, books and also financial brokers. Sykes published his self-publication in 2007 namely, An American Hedge Fund: How I made $2 million as a Stock Operator & Created a Hedge Fund.

His inclusion in the 2006 Trader Monthly’s list of 30 under 30 upcoming traders made him a well-\known personality. 2011 was the year in which he co-founded Profit.ly which is a social service that has over 20,000 users to provide stock trading related knowledge on the web. His purpose behind this was to create a public track record for gurus, newsletter writers, and students so that they get a chance of learning each and every aspect, well or bad of the penny stock business by analyzing the achievements and failures of other traders and hence spreading awareness.

In 2012, Sykes started a financial beauty pageant called “Miss Penny Stock” amongst the female representatives for his brand and company. The Timothy Sykes Foundation has made a total amount of $600,000 and also has partnerships with Make-a-Wish Foundation and the Boys and Girls Club. As of February 2017, he has donated $1 million to Pencils of Promise for help in building 20 primary schools across Ghana, Guatemala, and Laos, which were scheduled to be completed between the years 2017 and 2018.

He has also had some controversies where he has openly criticized several businesses and celebrities among which Shaquille O’Neal and Justin Bieber are included. They were criticized for endorsing the pump and dump strategies used in the stock investing.

Sykes has been trading for around 20 years now and is indeed a very successful person. For any newcomer in this business, Sykes is an inspiration because this man made $1.65 million when he was studying just from penny stock investing and today is famous worldwide because of his sheer and dedicated hard work. At the age of 21, where most of the people are busy setting up their careers to make money, this man had already become a millionaire and an encouragement for many others to follow. All he did was making wise investments in thousands of penny stocks. This clearly shows how much risk he had put in and there were so vulnerable chances of him failing but his hard and smart work along with firm determination made him a true winner of his game.

Presently, he is 38 years old and lives in Miami Beach, Florida, United States. He is today known for the work he did years back and is now working to help more people become like him but with a little less struggle.

Penny Stocks for Beginners

A newcomer in the field of penny stock investing should be attentive and wide awake all the time. This world is full of risks and possible frauds. A risk tolerant person should only step into this business. The stock aspirants must stay away from the Dark Market stocks, Pink Sheets and the Pump and Dump strategies often used by the companies to trap people and steal their money. The beginners should start by making short-term investments to find out if their money bears them any fruit or not. Penny stocking is for those who cannot invest in large companies with higher priced stocks. There are chances of becoming rich by putting money in these stocks as and when the company bears gains. Short-term investments can save the shareholder from massive losses.

There are many advantages of penny stock investing but these advantages can turn into disadvantages at any point. Therefore, trust is a word that should never be used while investing in penny stocks. Stock aspirants should not rely on any company completely. It is hard to find penny stocks on the major stock market one should totally try because those are better than other shares for investing. Most of the penny stocks are available via Over-the-Counter boards and Pink Sheets. Though these can be considered fine it is always better to look for the best and leave the rest. Everything in the penny stocking world is full of illusion.

How to get started?

  • Open an online brokerage account.
  • Make enough research about any company before making any investment.
  • Do paper trading before doing actual business.
  • After doing paper trading, start by making short-term investments in good and financially stabilized companies.
  • Find a trader who has actually made money by penny stocking. The Internet can give good information but practical information can be given by a live person only.

Which companies to invest in?

  • DHX Media Ltd. (NASDAQ: DHXM)

52 Week Range: – $0.8000- $2.7800

 Volume: – 123,815

Average Volume: – 97,001

  • Globalstar, Inc. (NYSEAMERICAN: GSAT)

52 Week Range: – $0.2900- $0.7300

Volume: – 1,062,513

Average Volume: – 1,799,830

  • Blink Charging Co. (NASDAQ: BLNK)

52 Week Range: – $1.5600- $6.3500

Volume: – 116,361

Average Volume: – 463,179

  • Limelight Networks, Inc. (NASDAQ: LLNW)

52 Week Range: – $2.2100- $5.3200

Volume: – 1,967,077

Average Volume: – 993,920

  • Denison Mines Corp. (NYSEAMERICAN: DNN)

52 Week Range: – $0.4400- $0.6900

Volume: – 197,678

Average Volume: – 468,953

  • Conformis Inc. (NASDAQ: CFMS)

52 Week Range: – $0.3580- $4.6800

Volume: – 1,546,907

Average Volume: – 1,820,949

The few companies mentioned above have been among the current choices for penny stock dealings and are considered to be profitable investments. As of now, one can surely think of investing in any of these companies but should also stay alert all the time.

Well, there is not much difference between penny stocking and gambling. Anything may happen anytime and losses come uninvited. This world is a big pool which can become shallow and deep at any point. It is very important to stay beware of the frauds and have good profits.

Penny Stock Trading Myths

The world of penny stocks is very complex. Making millions by trading penny stocks is not an easy task. Penny stock trading is an art which becomes perfect only after you give time and skills to sharpen your skills for the stocks. Stock traders hear a lot about trading from everyone and there are many myths floating around about the stock trading.

Here are some of the most frequent myths about penny stocks which you can hear and the ways to beat them:

  1. Buy Low, sell high is the only way to make money

This is the most common thing which everyone believes in. Stock trading is always thought about buying at a low price and selling at higher. Traders accumulate stocks of various prospective companies which would rocket up in the future. Sadly, most of the stocks don’t work that way. You don’t need to wait to buy too low or get too high to buy and sell respectively. When the time is right, it would be preferable to buy the stock at a higher price too as the company might have positive signals to get towards the higher level from the present rate. The stocks could be sold after getting the desired percentage of apprehension. Bottom fishing has never been helpful in the case of penny stocks.

  • You need only luck to get successful in penny stock trading

Luck is, of course, an important factor but not the only thing to get lucky. More than trying your luck, it is important to trade penny stocks by becoming smart enough to understand the tactics of the companies in which you’re going to invest. Selection of a stock blindfolded is never helpful. It is feasible to do your own study and find out the stock recommendation programs or the other tools to get the right stocks in your portfolio. You can start making insane profits by doing the right step.

  • You need to be a professional to make profits with penny stock trading

While trading the stocks, the profits don’t only go to the professionals. The winners are the people who pick out the best stocks from the list of thousands on various stock exchanges and OTC markets. It is a complete myth that professionals can only make money. Penny stocks need full diligence for the purchase and the only way to make the right profits is by choosing the most valued stocks. You will be missing a lot of profits if you’re not going on the right track. So, the professional is only the person who is making the fullest research.

Many online tools are available which have helped the newbie and professional traders to do their best in the world of penny stocks. These never go wrong and the penny stocks profits can zoom with your appropriate decisions. In the end, your own research will matter the most and while you’re making your move, it is important to keep a track of activities of your decided stock list to improve your chances of winning.

Trade Penny Stocks Smartly

Penny stocks are also often known by the names small-cap stocks, micro-cap stocks, and nano-cap stocks. These stocks usually do not trade on the major share market. These are usually traded by means of Over-the-Counter deals or pink sheets.

Well now, the question that arises is ‘How to trade penny stocks?’

Penny stock trading is not so easy. If one dreams of becoming rich by this business, they will have to remain highly patient, consistent and aware. The most important decision while investing is to choose between long-term and short-term investments. While investing in a strong and well-known company, one can think of making a long-time investment as these companies tend to prosper rather than fall down all of a sudden. The companies which are flourishing and not well-established can crouch down anytime. Many of the developing companies are just frauds which consume the money of their customers. Before coming to any conclusion, the investor must do plenty of research about the firm in which they are going to invest.

Some ways by which a layman can turn into a successful trader are:

  • This commerce can be compared to gambling. Just like in gambling, anything can happen; similarly, this business can show anything to the shareholder from great profits to major losses. As per the experts, becoming attentive and matured in the penny stocking world could be started with paper trading. Before coming to the actual trading world, paper trading gives a glimpse of the reality one will have to face in the future.
  • Another thing that is of major importance is that the investor does not have a live broker while dealing with penny stocks. Hence, each and every responsibility is wholly solely of the shareholder. Doing research or finding an experienced trader is the task of a wise investor before investing a single penny in the stock market.
  • Internet can serve the depositor both as a boon and bane. The reason for this is that while there are websites that provide certified and up-to-date information but a novie may be fooled by some attractive sites showing them only the bright side and asking them to fall in their trap. Eventually, many people do fall into the trap of these eye-catching glittery websites and lose their money. Public wants to see only the beauty but one should also have the capability to see the beast within that beauty. Therefore, it is highly important to look for the safe and proficient website while browsing.
  • Doing a detailed analysis of the trading charts is another way to keep the losses away from one’s boundary. Checking the 52-day range, present range and volume of a stock can show the reality to the investor. Penny stocks are in most of the cases, having towering volatility. The value of a stock changes numerous times in a single day and going through the complete history of the company will help the buyer significantly.

Some of the best trading platforms are-

  • Robinhood
  • Fidelity
  • TD Ameritrade
  • Trade Station
  • Charles Schwab

Tips for Robinhood Penny Stocks

Robinhood penny stocks appear exciting to penny stock investors as they don’t have to give any trading fee to deal with them. There is absolutely no good reason for some people to trust penny stocks and buy them but when they see that they don’t have to pay out any fee for the stocks at minimal pricing, they might get attracted towards it. Well, the reality is to go ahead and buy the stocks of good companies or invest in exchange-traded funds which are quite similar to mutual funds and are considered to be a better option than the micro stocks on OTC market.

Robinhood penny stocks are the low-priced stocks placed at the major stock exchanges. It means that the stocks are far safer than the OTC or pink sheet stocks. It is always better to invest in the companies on the major stock exchanges than the non-listed stocks for the reason that they will have fewer chances of ruining your invested funds. There are people who might think that they are smart enough to deal with the low-priced stocks and they think that earning money from those investments could be enticing in every way.

There are some quick tips to apply to start your hand at Reddit Robinhood Penny stock trading:

  • Ignore Social media success stories

Remember that every story is a marketing tactic to land on the appropriate level and promote the next big winner. The websites will give you exciting screenshots and promotional messages behind penny stock investments. The reality is that most of the claims are bogus and lead to a negative path for the investors. If it is on the internet doesn’t mean that it is true. The problem with these listings is that they give a fake picture for the stock investments and the people might buy the stocks by thinking that they will rise higher. Be careful as these letters are paid and meant to attract you towards the buying cycle.

  • Sell the stocks quickly

Greed is the major feeling to control for penny stock investors. Instead of getting 100 percent gains on your penny stock, it is better to sell them off at 20-40% or whenever you think that you have attained the absolute gain. You might miss out profits if you think about waiting for the right time to sell off the stocks. Reddit Robinhood stock listings will not give you the right time to sell off your stocks and you’ll have to do every activity by your own wit.

  • Find penny stocks with high volume trading

Low volume penny stocks mean that they are not being traded much. The stocks being regularly traded should be purchased as they will get sold whenever you want. High volume stocks can be sold quickly and make you attain better profits.

  • Stop losses

Whenever you’re entering into penny stocks, it is important to mark what you are willing to lose in case of any problem with the stock. Don’t completely fall in love with the stock and just remain friends with them. It might sound weird but happens mostly with people.

Emotions absolutely have no place in the world of penny stocks. Before you want to invest, just know about them and read as much as possible on Reddit forums. It will certainly benefit you for the long-term investment of the cheap priced stocks.

Where to trade Penny Stocks?

Penny stocks are considered to be very tentative and are usually not regarded as a good choice for making an investment or trading. Despite of the associated flaws, some people buy and trade these owing to their low price. This is the main reason why people get attracted to purchase these. Hence, for those who want to trade these micro-cap stocks, here is a list of a few companies which are quite reliable for doing this business.

  • INTERACTIVE BROKERS

This brokerage company trades at a rate of $ 0.005 per share. This brokerage company has received a few awards for its work in this field. This company provides low commissions and real-time streaming data which are some of its benefits.

  • TRADE STATION

The importance of trading in this company is that one can even cancel one’s trade if they want. It has also received awards for being the Best Overall Online Brokers and for the Best Day Trading group. This company uses a brilliant technology to handle its online business and give attractive deals.

  • eOPTION

This company provides the best and cheap costs for buying/selling of stocks. Their cost per trade is $3 proves to be the reason for their success in this area. The working web platform is very speedy and one can do their work without any hassle.

  • FIDELITY INVESTMENTS

Just like the companies mentioned above, Fidelity investments have also received awards in various sectors of its field. Doing business with this online brokerage company is dependable and consistent.

  • CHARLES SCHWAB

This platform is best for those who are going to try their hand for the first time in this business. It has received multiple awards including one for being the Best Trading Apps. It offers trouble-free digital accessibility which is something attracting the customers to a great extent.

  • TD AMERITRADE

It is among the best major online brokerage platforms. Though, not the cheapest, but still offers low prices for trading. ‘Thinkorswim’ is the well-known platform of this company for making trades is open for 24 hours, five days a week for certain securities. Trading with this online platform is definitely a worthy deal.

  • E-TRADE

This app has a good technical platform that works on web, desktop, and smartphones. It is a famous medium for those who are active traders. One can easily save their money by dealing with this online brokerage.

  • ROBINHOOD

Robinhood does not trade on Pink Sheets or Over-the-Counter (OTC) stocks. It supports only major stock exchanges. Although this limits the choice for penny stock traders, it offers no fee or commission trading. This quality works as a plus point and attracts various customers.

  • ZACKS TRADE

This online brokerage is also good for active traders. Another benefit is that it provides live broker also and is a great option for those who want to trade on foreign exchanges. Their stock trading cost is minimal is a popular choice for doing this business.

These are the best trading apps for making deals in the field of penny stocks. Penny stock trading is a highly speculative business which may bring wonderful gains to the investors if successful.