Point me in the right direction.
Hello. I'm new to the forum. My name is Isa. I think it's absolutely exhilarating that you can turn date into money. I need someone to point me in the right direction as to what type of strategy and technical indicators I should be learning.
So I have a few questions. And ultimately my goal is to trade penny stocks, and achieve a 12% gain monthly playing only long. So far all I've figured out about the stock market is you want to create a decent watch-list with a smaller float if you're looking for good gains. I Google to see if there's any promotion going on for the stock. I look to see if any credible resources have said anything about the stock (CNNmoney etc.). I look at the history of of the graph, usually a couple of years back I see a pump and dump. So when it's going up 4 years later dramatically I assume it's another pump and dump. The only (technical indicator I look for is a "breakout". I do play on a simulator, I have had a lot of luck with large cap companies. And I would stick to large cap companies but money is limited. I will be getting a 2800 dollar tax return soon and I'd like to start trading with that. I know it's not enough for any significant gains but it's where I'm at.
Also when I trade large market caps I just look at the graph to the one day, and five day, if it's trending I buy and I usually get it right. If the next day it's losing i just get out quickly.
Please nitpick at everything I just said, I know I'm ignorant thus far with the stock market. I'm looking for some guidance.
Here are some questions.
-Is there any technical indicators that are proven to work more often than others?
-Is there a better way to seek to see if there's promotion other than Google?
-Should I consider learning to short or just stick with longs for now due to inexperience?
-What should I study next?
