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BlaineTarr
06-28-2014,
Okay. So within a month I will be investing real money into the stock market, I'm excited and fearful as well.
I'll have about $2500 saved up to trade. I will use tradeking because of it's low commissions. I will also apply for a margin account (I have a 651 credit score as of today, so hopefully it's approved.)

I decided I probably won't sell my car unless I do make a 12%+ my first 2 months which according to a lot of people is highly unlikely.

I will be working at a dealership in the meantime. Which works well because we have an immense amount of downtime in the morning and we can basically freely do whatever we like. I'll be using this time to make a couple trades and I can always check my phone throughout the day for any progress.

The strategy that I'll be using isn't quite clear yet..
My goal is 1% daily, I will be swing trading and I personally don't hold a stock for more than 2-3 days.
I will only trade large market cap companies so if I'm wrong I don't get obliterated.
If I'm -2% in a day I'll exit.
I'm using bollinger bands and MACD even though some say it's outdated, I've had luck with it.
It was mentioned to me to use moving averages and I just am having a hard time doing so.

SOooo how screwed am I?

SwingKong01
06-28-2014,
As is, you're very screwed.
1. Large market cap companies are not safety nets. Sometimes their price movements can be measured in dollars, thus obliteration can happen faster.
2. Going for a 1% gain, while willing to take a 2% loss, is a sure-fire recipe for disaster.

Barchart
06-28-2014,
By the way, brokers don't care about your credit history. #1 thing they care about is whether you have the money to pay them if things go wrong. That will be a combination of your account size, liquid assets, experience, and occupation.

Another thing, you shouldn't pick a broker just based on commission. The saying "you get what you pay for" is true in the broker industry. You can always negotiate commissions if you like a particular broker.