Greetings all.
Am a newbie and dont know much about share trading (as will probably become apparent).
Wanted someone to point out the fundamental flaws in the below strategy for making extra cash with limited risk.
Scenario: Say you have 500k to play with in a share trading account. On days when the market is following a positive trend, you load in and purchase as many shares as 500k will buy in X company. You set a stop loss on the stock of say 0.5% below buy price.
You sell all stock before close of trading, so you have no exposure left, hopefully with a gain.
So by not being greedy and limiting exposure, could this be a successful strategy for making say 3-4k a month?
I do understand that not all trades would be successful as market can turn quickly, but by swinging for singles like this, could a modest retirement income be feasible?
Like I said I dont know much and am here to be educated so let me know why this wouldnt work. Any info welcome.