Are People Still making money trading stocks &options?
January 5th, 2010
I had cramming reading books on stock and options trading and then last wek the market crashes. Are people still making day trading stock and options. What should I do If i want to become a wealthy trader?
I had cramming reading books on stock and options trading and then last week the market crashes. Are people still making money day trading stock and options. What should I do If i want to become a wealthy trader? Is that still possible now?
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Buy low sell high
You must have read somewhere that money can be made in the stock market whether you hold long positions (bought stock) or short positions (sold stock). In fact you must have heard that during the recent crisis on Wall Street, the SEC placed a temporary ban on ’short selling’ that is persons selling stock at a high price in hopes of buying them back at a lower price and pocketing the difference. Thus persons can make money which ever way the price of a stock goes. You just have to be on the right side of the trade (guess correctly) .
In my opinion persons selling stocks short during the recent "credit crunch" and before the SEC’s ban, were set to make a killing as all smart traders knew that stocks had nowhere to go but down.