Hi guys, This may ultimately be a very dumb question, but I am currious. My stock market expierence has been really limited.. and has mostly consisted of basicallly gambling using robin hood. My 'strategy' would to watch for cheap stocks (not nesscarily penny stocks.. but definetly highly violatile) and buy some as their price was rising. I would set a stop loss close trigger close to the price. I found that I was able to do relatively well doing that a few times.. buying on a price rise and selling quickly on its dip. Obivously I wasn't making thousands.. but a cool 100 bucks here and there.
Which leads me to really the core of my question, do people here, or anywhere use something similar to this method to trade. As a college kid studying computer engineering, I thought of even simply watching many stock prices.. and jumping on cheaper stocks on a rise, and selling as soon as the price drop gets back to what you payed for it. Obivously commisions might make it a little more difficult, but with my limited expierence that seemed to work.
Is this an awful idea? I have to imagine this is much too simple to work, and my gains would soom be balanced out by my losses.. but would love to jear what people here think
Submitted July 17, 2017 at 04:40PM by Skippertech