/biz/ - Business & Finance

>>5658766
blow it out your ass
req is gonna make me rich

What are the best books to buy if one is considering stepping into day trading?

Looking at general stock prices throughout a day and over months it seems as though it would not be too difficult to pull off gains of 5%-10% per trade on low-price stocks if you bought and sold at the correct times during the day (which you would research). Take PRAN for example. Over the past few weeks pretty much every single day it has dipped by at least 7 cents from open then gone at least 7 cents above open, and it has done this for several days. Is that how all of this works? You notice a trend then exploit it? It seems like there is money out there just waiting to be taken and I want to be the guy who gets it.

Of course this is probably a terrible idea and i'm probably retarded, but if I had some disposable income to put to work and the will to really work at this and learn from my mistakes how would I go about beginning?

>I'm a young professional in his early twenties who pulls in six-figures per year and has a 2weeks on 2weeks off work schedule, and this seems like as good a chance as any to make some money on the side while i'm off.

As a PETE student with family in the industry and also being involved with networking and speaking to recruiters from SPE I would like to say that if you aren't going to PSU (WVU sort of), UT, TAMU, Colorado,or Stanford then really don't bother.

The other schools like LSU, Tech, LL, and the like are shitting out graduates without putting caps on the amount of people who enroll, knowing full well not everybody will get a job.

Let's just say that the incoming PETE class at my school is 90 kids max while it is over 600 at tech and 700 at LSU.

The market is becoming saturated but it is not as bad as /biz. would have you think. If you go to one of the schools I mentioned you can get a job through networking,good grades, or mediocre (3.3+) grades plus internships. The fact is that you can't just jack off through college and get a good job in PETE anymore, you need at least a 3.0 to get interviewed by most companies for an internship, 3.25 for chevron, 3.5 for exxon, lower for service companies. However if you work hard and are not at one of the schools with a class of 200+ people competing with you for internships and jobs and you network (join SPE and attend job fairs) you will do fine.

At my uni we had a 70% full time placement rate this year (class of 230; this was before they administered enrollment controls and you needed to be at least a mediocre student to get in. before this every engineering student who didn't get their major because they were poor students just transferred to PETE since it wasn't in the COE) which was pretty good since everybody with above a 3 got a job. The minimum offer was $80k, max was $140k + a car.

I realize i've gone on a bit of a tangent... but It's still a fascinating and well-compensating industry assuming you are a hard worker and not some faggot who sits on /biz/ all day asking "how to make six figures per month, 15min of work per day"