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Planning to start Day Trading PSE / Looking for advice
Main Post:
Hi, lurker and been a silent reader in this thread for a while na. I am planning to start Day Trading sa PSE. I recently moved back in the Philippines to get married and stay here for good. We have more than enough EF naman and substantial savings and income monthly. We are planning to diversify our long term investment in stocks. So at the same time, I would like to explore the option of day trading.
Writing here today to ask for help and advice from you all;
- What is the best stock broker/brokerage that you can suggest? I am looking at BPI Trade since I have BPI account. Willing to use other brokerage naman.
- How much initial fund do I need to start Day Trading?
- For Day Traders here, how do you pick which stocks are for day trading? Perhaps, even strategies to earn profit in day trading? :)
- Any suggestion or things that I should know?
Again, I understand the risk in what I am about to do, might even lose a lot of money, and I don't expect overnight success to happen. I am willing to learn and do this for a period of time if possible.
Many thanks!
Top Comment:
I wont recommend you to day trade here in PSE because of high broker fees. Kakatrade mo pa lang down ka na agad ng 1-2%. I would recommend swing trading.