Who is making good money trading stocks on the Stock Market?

Tweet

I have been trading stocks for a few months and the profits are great. I wonder why most people don't bother to learn about how to trade stocks to increase their income. It's not hard at all. In March I could have made $10,000+ trading BCEI but the price started going down and I sold at $4,000+ profit. Ever since, I've been hooked to trading and I want to share my insight. It is a great feeling to be able to make a living independent of what some company thinks you're worth. I encourage you all to learn how to trade stocks and be financially free! Here are some of my personal tips for trading successfully: 1.I use Stocktwits app to follow good traders (@WinningTrades4U, @ProfitTradeRoom, @Super1NYC) 2.Every day I search keywords on PRNewsWire for companies that will go up in price because of good news (Announces, Major, Contract, Patent, Report, Promising, Acquires Ownership, Acquisition, Launches) 3. I am a part of a good stock chatroom (visit Willtotrade.com to join- His motto is 5% gains a day is a 100% gains a month. He gives alerts on what stocks to buy. The people in the chatroom discuss trending stocks as well.) 4. I use Finviz screener (screen for Relative Volume over 2, Current volume over 500k, Stocks over $1) 5. I study candlestick chart patterns of stocks to see support and resistance lines (not hard at all, google support lines/resistance lines for stocks) 6. I use TD Ameritrade, OptionsXpress, and Capital One Investing as my online brokers. I used to use two brokers interchangeably to be able to trade each day while funds settle on another account (funds take 3 days to settle after a trade). You can avoid 3 day settlement delays if you have a Margin Account. Margin Account is for increasing buying power beyond what you have deposited in your account. You don't have to use margin. You can just use the Margin Account to be able to avoid settlement delays. 7. I try not to be a bagholder meaning I am left holding a stock that is going down in price and will have to wait days or even weeks to break even or make a profit. 8. I don't hold stocks under $1 per share overnight. I get in and out within minutes. Those stocks tend to go up for a day but drop and consolidate for a long time afterwards. (APHD, FWM) 9. I use Yahoo Finance to watch stocks as well. If the current volume is over 3 times the average volume the stock is moving which means the price is going up. Over 3 is the Relative Volume as screened for on FinViz 10. Sometimes I like to buy gap downs where a stock goes down because of bad news but quickly rebounds to regular price range (example: SRPT on April 21st) 11. I use ThinkorSwim by TD Ameritrade to watch stock candlestick charts in real time. I love the level 2 which shows BID and ASK price in real time. If there isn't much action in the Level 2 quote then the stock is not moving well. You should see a lot of BID prices which is what price people want to buy the stock at. The ASK price should not be dropping to fuel low BID prices. ASK price should be going up if there is high volume and good news for the stock. I use the broker website to purchase the stock as it is easier to use. 12. Probably should have been #1- I ALWAYS use limit orders. I set a limit price to buy. When the stock price hits that mark my order is executed and then I do the same to sell. Prices go up and down quickly. It is ideal to buy low as possible and sell high. For example this past week I bought my beloved BCEI again. It was moving at 3.15-3.20 range but by looking at the previous price action I knew it would drop at some point during the day. I set a limit order to buy at 3.12. The next day I sold at 3.23 for a $177 profit. (That was 1610 shares by the way.) 13. I always use my stock profit calculator to see what profits I will make or losses if I have to take a loss. (GMS Profit Calculator) 14. I don't get greedy when a stock is going up. I am always aware that a stock can drop just as quickly as it can rise. (Learned that with BCEI) I always have a sell limit in place. Just yesterday (May 20th) CLRB was the hot stock of the day. It went up 2.40 cents. If you had just $1,000 and bought the stock at $2.70 per share (370 shares), sold at $3.50 per share you could have made $296. That's $37 an hour if you were working an 8 hour workday.