capital 10k. to earn $60+ per trade

H

hope

Hi,

I am an inexperience person with stock investing. Currently, i have about US10k to spare and would like to go for daytrading.

I am aiming to purchase a stock, eg SIRI, and sell it after it goes up by 0.02 or 0.03 in order to earn about $60+ per trade after commission.

My stop limit will be when the stock goes down by 0.01.

Is it too strict?

Will be grateful for any constructive advice.

Thanks
 
Quote from hope:
----I am inexperienced with stock investing.
----SIRI....
----and sell it after it goes up by 0.02 or 0.03....
----My stop-limit will be when the stock goes down by 0.01.
----too strict?
More...
1) No you can get stopped out too easily by random changes in the bid-ask spread. If the market is "76 bid, at 77", you pay 77 to initiate your position, the spread can easily go to "75 bid, at 76" stopping you out at 76 or 75.
2) You need more leeway in your profit objective and risk tolerance. :cool:
 
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