Does anyone use TRADEKING for online stock purchases?
Question:
I have been playing the simulator stock "game" with $1000.00, which "charges" $19.99 a trade. It seems to me that if I had a real account, and any time I had a profit of say even $10-15, and could trade for the $4.95 price Tradeking advertises, I would amass little daily profits with which I could play/buy more. Is there some rule I don't know about that one has to keep a stock for a certain period of time? Is what I'm suggesting "daytrading"? Thanks for any info!
Answer:
That is daytrading. There are no other rules. Just be prepared to "lose" as often as you "win".
Daytraders usually play with alot more money. There goal is try to turn 10,000 into 30,000, not turn 1000 into 1005.
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