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Newbie Questions.....
I recently came upon this website and forum and have found it to be a great learning tool and resource. A couple of questions for any of you seasoned traders when you have some free time. I've been a short term and long term investor for some time (about seven or eight years now) and have always wanted to dabble or day trade. I've read quite a few books in the last three years on the subject. I tend to be a good short term and long term investor, but I fully understand this is a totally different animal. I'm willing to pay some 'tuition' in learning the trade and perhaps find a way to make a living doing something I've always enjoyed. In the next year I will have an equity account that approaches around 100K to begin to trade. I have accounts at AMTD and also Scottrade. Fine for what I do, but in looking into day trading I realize I'll need a much stronger platform. Best choices available? In the next year I am going to 'paper' trade. I've followed about 50 equity symbols for the last few years some liquid enough to daytrade and some not. I'm comfortable trading stocks. Is it more important to trade stocks you follow closely and know or seek out momemtum each hour, day, week, month? Of the fifty I mentioned above, I probably know twenty like the back of my hand, trading patterns, the business, the expectations, the growth patterns, and business cycles. I would be comfortable enough trading them, and have been, just not on a day to day basis. Is 100k account enough to survive, paying some learning tuition and perhaps turn a decent years profit? I'm not going to quit my 'day' job until I can prove to myself I can stand on my own two feet. Thanks for responses, and thanks for the resource of information here.
MPBigley
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