The markets will do what they will do. There is no taming the markets. As a day trader, you need to reckon with that fact day in and day out. Being aware of that fact is a fundamental skill that all traders must possess. The facility of your risk management rests on that skill. You need to be able to approach the market with trends on the mind and the ability to do technical analysis. Which is why the OTC markets are not the right place to practice if you are a new trader.
OTC markets used to be called the pink sheets. Back in the day, this was where people made small fortunes trading super small cap stocks and everything was actually listed on pink sheets. The Wolf of Wall Street made his bones selling the pink sheets. There is no real profit to be made in the OTC markets if you are a newbie. You need to steer clear until you know what you are doing.
The New York Stock Exchange and NASDAQ have established ways of doing things and ways of making companies disclose their financial health. That is why they get most of the large and the casual investors. They are trusted. With OTC markets, you are looking at small-cap stocks of companies that are not always going to have the most up to date org chart for you or the ability to see basic earnings. The data is hard to find. So you need to rely on technical analysis.
If you know how to read advanced charts and be able to tell where a stock is going to go, then you can take a dip in over the counter waters. But not many novices can do that. They are not ready for that kind of trading. Finding a day trading education site that will do the job for you and teach you how to approach the markets. You want to find online classes that will allow you to digest strategy and technique from veteran instructors. You want a chat room with other traders that are going through the same things that you are. You need to be able to learn from others and swap tips and tricks.
Then you need to find a paper trading space where you can test out your abilities without using real money. Finding a platform that allows you to trade virtual money at the speed of the real market is important because you can test out trades and make mistakes that don’t actually cost you any money. The onus is off you to be perfect.
That is where you learn risk management. That is where you can figure out how to keep your bad trades small and your good trades big. Being able to control your risk is important if you want to be able to make a profitable go of it as a day trader.
First, stay away from the OTC markets. Then get yourself a good mentor site that will teach you how to day trade.