Well I have learned enough about day trading to know if I tried with the knowledge I have now I would fail horribly :P. Not sure about the states, as I am in Canada, but why would I need 25k to start? I assume that would be for making trades for symbols with an SP in the 10 dollar mark range for 2000 shares roughly? I am sure I would not want to trade on a margin, I really don't like the concept of borrowing money to trade. Ok so liquidity and volatility play huge factors so it would not be as easy to find stocks on OTC as oppose to NYSE, but it is still possible yes? I don't like touch sub-penny stocks, I would like to stick with SPs in the .10-.90 cent range really. I am not looking for big gains, I would like to achieve 100 dollars profit roughly for each trade, making a few trades a day. I am young and only make 100 bucks at day at my job now so anything more than that is fine with me for now.
My major concern is I can't find much info on how the specialist or money maker (same thing right?) works for OTCBB, I understand how they work for NYSE, is it the same?
My hopes are to make 100 dollar-ish profits off of trades using around 1000-2000 dollar capital. To be able to bring in 1000 dollars a week would be amazing for my current life style.
All I really need is a pro to point out flaws in my strategy :P
"The further your decision making is separated from your emotions, the more profitable you will be. You will be unable to separate your emotions from your trading if you are risking money you cannot afford to lose."
- Christopher A. Farrell
