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Originally Posted by collegeboobies
Do you trade all day and try to make big gains in very short term? What are some strategies you use to be successful? What are some tips NOT to do or some tips to save money?
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I have both - trading stocks that I buy to sell when it goes up enough to get a decent profit, usually within a few days or a few months at most - and investment stocks that I plan to keep for several years. I research the companies before I put a dime in their stock. Then I pick those that interest me and watch prices for a while to see how they do. Once you've done your homework, biggest mistake you can make is to second guess yourself. Patience is the key, don't panic because the stock goes down if nothing in the company has changed. Stay on top of the news always.
I found that if you sit at the computer and watch stock prices all day, you can buy shares in the morning and sell them the same day or within a few days at a pretty good profit. You can make a lot of money buying and selling the same stock, just know when to quit and when to move on to another. You have to know your stocks to do that though, some go up and down a fair bit every day without fail, others move very slowly in one direction or the other.
That's my strategy and it works well for me.
Good luck!
Missie