5K to millions?

As the title suggests, I will attempt to turn 5K into millions this year by trading mainly on these 6 principles: Penny stocks, Low float, news, volume, entry, and premarket 1. Penny stocks - Obviously penny stocks are volatile and can potentially put holes in your account, but the upside is that they also catch fire pretty quickly. By definition, these are stocks under $5. Due to their low price, traders/investors can buy/short large amounts of shares each day, resulting in increased price actions. But trading a stock solely because it's a penny stock would be like disregarding your abuse partner's red flags because they made a nice gesture to you. 2. Low float - "The float" of a stock refers to the number of shares available to trade. This is different from the shares outstanding, which refers to the total number of shares a company has. The lower the float, the more value those shares have, and the more rapid the increase in prices. The analogy here is that the less you have of something, the more valuable it is. I will be trading penny stocks with a float of 10M or less. 3. News - Shortly put (no pun intended), stocks move on news. News are what drive stocks up and down. A penny stock that has a low float and good news will typically increase in price. Most of penny stocks' rapid price increase/decrease occurs seconds/minutes/hours after news break out. These news are typically reported between 0600-0800. While sites like yahoo finance or weBull do display news, their reports are delayed. For access to faster reports, you need a stock scanner. Many sites will charge you 10s to 100s per month to access their scanner, but there are a few free scanners out there like [http://www.youtube.com/@Zendoo](http://www.youtube.com/@Zendoo) or [MomoScreener - Find momentum stocks for day traders](https://momoscreener.com/). Do keep in mind that these are also delayed but only by a few minutes. 4. Volume - All the above conditions could be met, but if the stock doesn't have volume, meaning people aren't willing to trade it, then the price won't move. Identifying stocks with rapidly increasing volume is vital to making profits. 5. Entry - You don't need a ton of technical analysis to be good at trading but you do need some. I'm not saying to learn every analysis pattern out there, because simply put, most of them are bullshit. But to minimize losses and increase chances for profit, a good entry/exit into a stock is important. Given a good volume and positive news, a stock will have a huge uptrend in the first few minutes. When the volume is rapidly rising and the price is rapidly increasing and when there is little shorting resistance, that's usually when you want to enter. But if a pullback starts to occur, resist the FOMO and wait for the second wave up. Do keep in mind that pullbacks are perfectly normal for a stock, but you want to exit a stock when the pullback is strong or when the volume starts to decrease. The volume-weighted average price can be good indicator of when to maintain or exit a position. Having access to a trading chart can also help. I love the 1-minute chart of a stock because it helps me exit at the right moment. The website momoscreener above has a free 1-minute chart. 6. Premarket - Premarket closes at 0930 EST. When it opens varies by the broker firm. I use Robinhood and their pre-market opens up at 0700 EST, but there are some firms like WeBull, ZacksTrade, Moomoo that open up as early as 0400 EST. One reason I like premarket so much is because that's when the news break out. The other reason is because of trading halts because 99% of the time, there are no trading halts. I say 99% but I recently witnessed a stock get caught up in a trading halt during premarket. I'm also typically done with a day's trade before market opens. (Side note, there are also no trading halts during aftermarket, but I don't trade afterhours because of daily schedule. But if interested, news that move stocks aftermarket usually drop at 1600 EST.) These will be the main principles I use to try to make millions. There may be times when I slightly deviate from this, for example, when the news is too good to miss out on, but 99% of the time, this will be the strategy I use. Additional: Trader/Youtuber Ross Cameron used a similar strategy to turn $500 into over $10M in only a few years. Here's an article he dedicated to day trading that highlights most of my above methods: [Day Trading Guide | Warrior Trading](https://www.warriortrading.com/day-trading/)**.** His YouTube channel can also be found at [http://www.youtube.com/@DaytradeWarrior](http://www.youtube.com/@DaytradeWarrior) Options trading: I have tried options in the past and I lost money. I don't get options and I will never touch options again. Additionally, buying calls or puts are not available pre or aftermarket hours. For a healthy profit, options also require holding stocks overnight. I don't know any good day trader that will choose to hold a penny stock overnight. When penny stocks usually trade 100-400+% in a day, they have the tendency to drop 15-30% the next day. So obviously holding a penny stock overnight is a no bueno. Entering and exiting a position within the same day also has drawbacks, for trading accounts under $25,000 that is. The Security and Exchange Commission (SEC) decided after the 2008-2009 market crash that to protect investors/traders from losing large amounts of money, they could only make 4 day trades in a 5 weekday span if their account is less than $25000. And if for some reason, you decide that these rules don't apply to you and you do end up making more than 4 day trades in a 5 weekday period, you will be flagged as a Pattern Day Trader (PDT) and face trading restrictions. While Robinhood or other firms can give you a free pass if it is your first time, I wouldn't risk. If you ask me, I think PDT is just a way of keep the poor poorer. The biggest challenge for me, therefore, will be to overcome this PDT rule by keeping my account over $25000. This concludes my TED talk. I would encourage anybody reading this to try out my strategy, but only to risk what you can afford to lose. I will also be posting updates as I trade to keep yall in the loop.