Trying out stocks.

By MadMaxx | Psycho Crypto | 30 Jan 2020


I'm a sucker for profits. Quick profits.

That's the reason I scalp trade cryptocurrencies. Because of the profits.

A friend or mine introduced me to what is called "high volatility stocks". I hadn't heard of them till last week, because I don't trade or have interest in stocks or the stock market.

So upon hearing that there are stocks that move 20% a day in either direction, just like crypto, it aroused my inquisitive side.

I decided to give trading high volatility stocks a try.

First and foremost, I needed somewhere to trade my stocks. 

I didn't want to pay too much in fees, because trading stocks brings a lot of fees. There's the spread, the brokerage fee and the cost of actually keeping the stocks in the brokerage. Yes, there's a cost for keeping your stocks in a brokerage.

I needed an online broker because this isn't 1976, and I needed one that was reliable and trustworthy.

I found Robin hood, and I wrote a post about them earlier. They're great for stocks, but none of their other offerings is even decent. You can check out my post here.

The major reason I chose them I because there's no fees involved in trading. So I could catch those quick profits.

Of course, trading on your phone is ill advised, and the platform has no technical analysis tools.

I had to do my TA on trading view, and them go back into Robin hood to make the trades. It was an experience I'd rather not relive.

I put $30 on the line, because the stock I made up mind to buy cost only 30 cents a pop. So I was buying a decent amount of shares.

Having bought them last week Tuesday, I sold them today for about 45 cents, capping a very nice profit.

I was supposed to day trade the stock, but crypto was so green lately I haven't had time to even look at the stock.

But I was able to sell it for a decent profit.

Looking at the graph showed me that there was a ton of movement with the stock. And I missed out on some nice profits.

So would I day trade volatile stocks over crypto?

Well, no.

Because the fees associated with stocks are way too high, and way too many.

I'd stick with crypto for now.

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MadMaxx
MadMaxx

In the eternal quest for crypto fulfilment. I'm an obese frog on the internet, what I say most definitely isn't financial advice.


Psycho Crypto
Psycho Crypto

Fun experiments with crypto!

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