5 Steps on How To Get Started Day Trading Penny Stocks | Fous …
1. Educate
Funny you would think that this would be common sense. But something about the stock market gets people so excited because they usually get enticed by hearing about or seeing someone else who made a lot of money trading. So excited that they don’t even care about learning anything, they just want to start now. Like .. today. I did this too. I sold my car when I was 20 years old(10 years ago) so I could start. I lost all of it relatively quickly And my family Lost a 1/2 million. We didn’t have a clue what we were doing and just started all because of some stupid “stock tip” that we wanted in on NOW.
Think of it this way. The Stock market is a test. A rather difficult.. no Extremely difficult test. Think about any important and known to be difficult test you have taken in the past. What do you think would happen if you just tried to take the test with out studying? Obviously you would fail miserably. When studying for a test you put in the time and you walk into that test with confidence that you know the material and that you will pass. You MUST approach the stock market this way as well. You MUST walk into your first and every trade with confidence in what you are doing and have a solid knowledge about how you are going to execute this trade from start to finish. You want to start your trading journey with confidence that you have the knowledge needed to succeed. Are you willing to risk all your money just cuz you are too lazy to learn anything?
Ive created rule base trading system known as the FOUS4. And I offer a 14 hour training course of which will teach you everything you need to know to make thousands of dollars/day trading penny stocks and small caps. The system works. But only if you follow the rules. So whether you are new to trading, failing at trading, or winning at trading. This system can work for you. So before you go wasting any more of mine or my sales teams time. If you are wondering what step 1 is to learning how to make money like I do. It all starts with educating yourself with the FOUS4 trading system HERE
2. Practice
Just because you go thru training or read a book on something. Doesn’t make you an expert. You can read a book on the fundamentals of playing basketball, but does that make you a good basketball player? No. So while my training program is going to give you the knowledge of a pro trader and teach you exactly how i find my stocks, and how i trade them. Becoming a true pro trader takes time and practice mastering the strategy. Obviously this goes for anything in life. How long is it going to take you ? it varies from trader to trader. Some people naturally pick up certain things quicker than others. Once you have educated yourself you can sign up for my trade alerts chat room and practice what you learned along side the FOUSalerts trading community. SIGN UP
One of the things that makes my services unique is that i trade live on FOUStv every day for MY STUDENTS to watch and learn as a veteran executes the strategy daily. You can tune in and watch me trade Live on Foustv for FREE every thursday HERE
3. The Right Broker
People are always asking me what brokers they should use. And thats a very good question. But it also depends on what your situation and and how many capital you start on planning with. First off, you need a minimum of $2500 open an account with any broker i recommend. If you don’t have that, Continue reading, but you need to save up. And you can still start your education process with my training system and learn why you are saving up.
Accounts under $25,000 : If your account is under $25k you are stuck under whats known as the pattern day trader rule which means you can only day trade 4 times in a 5 day period. This creates a big problem. But I have a solution. When you become an accredited Hedge Fund Trader you have access to trade the firms capital can day trade as much as you want. The minimum is $2500 to start. Learn More HERE
Accounts over $25,000 : (no pattern day trader rule)I have been using speedtrader (minimum $15,000) for years and while sometimes i have complaints. Ive overall been happy with them and have low commissions and a great trading platform aka Dastrader pro.
If you are looking to be shorting stocks a lot. The broker CenterPoint secutires (minimum $25,000) has been known to have great abilities on having shares to short stocks and decent commissions. They also offer dastrader pro as there platform.
4. Charting Software
While many of your brokers will have charting capabilities. I haven’t found a broker that really has the full fledged charting features that i need so i prefer using a dedicated charting program. There are many out there and ive at least tried most of them. But ive come to the conclusion that TC2000 is hands down the best charting software out there. While this may be a bit pricey for a lot of you @ $90/month for real time data. I find it to be well worth it and really helps me when it comes to visualizing and monitoring all my trades and stocks im watching.
5. Stock Screening Website
My top pick for screening stocks for potential plays is finviz.com . You can set criteria to your liking based on pretty much anything and have the option to have it all layed out visually so you can see a multitude of charts that fit your criteria for the most efficent scanning and easily build watch lists. I teach exactly what criteria I use and how to build your own watch lists in the FOUS4 training. I also provide my students with my personal daily watch list that I create every day HERE
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5 Steps on How To Get Started Day Trading Penny Stocks | Fous …
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