I was playing around on cash app and spent a few dollars on the stocks there. I got bored of it eventually, but it got me thinking that there has to bots for this already.
I want a bot that I can give a dollars worth of stock. If that dollar’s worth rises by two cents, I want it sell a cent, and put the other cent into a pool for the next dollars worth of stock.
This has to have been done before, I just never learned anything about it.
This is sort of how High Frequency Trading firms - they have a system of algorithms to quickly buy and sell shares for profit. But they can do it a financial scale which makes sense. Like another commenter said, doing it for pennies will just be a net loss after commission and fees.
You also need to get approval (forgive me I can’t recall the exact detail) for day trading - buying and selling of a stock within (I think) a 3 day period (or maybe intraday). Some platforms will allow you to do it a couple of times but then restrict you until a few days have passed before you can trade agaib