A couple of years ago my father learned of a new way of trading stocks called day trading. Day trading is a way for the average person to buy and sell stock without having to deal with a broker. The idea is eliminating the middleman in order to increase profits. The flaw in the idea is that success is contingent upon the day trader having the ability to capitalize on the system by being aware of all aspects of the stock market. Ignoring the few problems with the system my father signed up for an Ameritrade account, and began his research of the stock market.
In the beginning my father only used the set amount of money he allotted himself to buy and sell stock with. He purchased many different stock market magazines, newspapers, and spent va
st amounts of time researching over the Internet. He formulated a plan to buy stock in new up and coming businesses at low prices, and when the stock goes up even small amounts, your profits go up in great amounts. This process is known as purchasing penny stocks. Using this system my father was very successful for several months.
My father’s success, however, did not last as long as he hoped that it would. Although his plan had its advantages, in that you can double or triple your profits
This event has greatly affected my entire family and me. I learned many things to do and not do when investing in the stock market. I have also recognized the value of experienced stockbrokers to the common person. But more than anything no matter h
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