That's for all your advice it's really helpful, I forgot about the 3 day wait to be able to use the same capital again, I'm thinking, If I had a starting capital of 8 grand, to be able to trade 2 grand worth of stock a day consistently, aiming for a 105$ net profit.
my theory for getting that 105 is basically, if you have a quote like this:
bid/ask: 0.50 x 0.54
Then I step in, becoming the highest bidder at 0.51 for 4000 shares (2000$ worth) via limit order
bid/ask: 0.51 x 0.54
Someone hits my bid with a market order (if all goes smooth). The quote goes back down to 0.50 for best bid, I place my limit order to become the best deal seller at 0.53 for 4000 shares.
bid/ask: 0.50 x 0.53
someone buys 4000 shares at market and I make 120$ minus roughly 15$ commission and I get 105 profit.
With 8 grand I could do this trade once everyday and always have 2 grand to freed up by each morning.
The I keep as much of my profits as I can (need to spend my profits on cost of living too) to save up another 8 grand, and increase my formula by double for 210$ profits and so forth.
is this possible?
"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
