Does anyone daytrade

Quote from payup:

just one stock, lets say GOOG or APPL, or maybe 2-3 stocks max. Really learn their movement and pop in and out several times a day.

??


I trade 1-3 ETFs only and have discovered that I get a very good feeling for the movements as compared to back then when I used to scan the market for "stocks in play" - only to get murdered!

Focusing on 1-3 stocks/ETFs/financial products is the best strategy. All the best independent traders (we know who they all are) trade only a handful of financial products and get to understand the movements behind them.

Less to focus on = better individual focus on each trade!
 
Quote from Champion:

This is crap from some totally inane non-entity about his completely useless know-nothing site. Another naive scam artist.:mad:

Noobs should ignore this sort of garbage.

That site is real funny :)

The best kept secret is that daytrading is a losers game!
 
Quote from billybigrigger:

I am new to trading and in fact made my first real trade a week ago last friday. Before that I set up a practice account on Bloomburg.com last October. I started out with a full set of the usual big names Johnson and Johnson, Microsoft, McDonalds, Exxon, Shell, Costco, ATT, Verizon and so on. Did nothing and in fact trended. Down. I am a truck driver and my day starts somewhere between 1230 AM and 230 AM and my work day usualy ends between 230 Pm to 330 Pm. I drive a truck with a sleeper and basicly live in my truck from Sunday evening until Friday morning. I started listening to Bloomburg on Sirius last Oct. and now listen basicly from when I start in the morning until the Market closes each day. It starts off with the asian markets, then the euro markets, then on the the US futures, early movement of the markets etc. I picked up on about 5 stocks which I eventually spent all my practice time trading. Mostly just two, both of which I have traded multiple times for real at a profit this week. Those two are SLW and STX. I have just a few more that I look at now and have traded so far. Results first week for a dumb truck driver, $708 profit back in the money market fund. I consider that a success for someone flying by the seat of his pants and just starting. Trade at Ameritrade. I have both Sirius and XM radio's in my truck. Sirius is only one with 24/7 Bloomburg, but X/M is only one with stock ticker that streams to my truck. I also have a blackberry and a laptop with a 3g connection, to trade with.

If you trade stocks and use a longer timeframe than quick scalping then using a laptop on the move is a great idea. I do this occasionally-just clear off for a few days 'cybergypsy'! I don't think the importance of a top down approach has been mentioned. I always look at what the INDU (this may have to change to SPX if dow keeps losing value at current rate). I also wait for the right set-up and make sure I'm on the right side of sentiment, i.e. if indicators point to an o/s situation but it's obvious that the bears have the upper hand then I'm very careful not tolet losses run and if possible get out with a break even. I used to trade NQ futures but found this too stressful. Now I'm relaxed and don't trade more than a few hundred shares. I now enjoy trading, but you have to be disciplined and sit there every day watching, listening and thinking.
 
daytrading is the hard way to make easy money and for stocks, the daily profits is limited if you daytrade.

Quote from payup:

just one stock, lets say GOOG or APPL, or maybe 2-3 stocks max. Really learn their movement and pop in and out several times a day.

??
 
There are certainly pros and cons to day trading. Your potential for large profits is somewhat limited, however by not holding positions overnight you potentially reduce your risk.

It comes down to the individual.
Work out what suits your trading personality.
 
same boring stocks day after day. SSO (long and short), AAPL and RIMM (but not since November). But replaced those with FAS (long and short.

Opening range breakouts
intra-day patterns (1 hr, 15 min, 5 min, 1 min entry)
opening gap fades on a few select stocks.

dragging my feet on moving to the minis........

when it became boring, the consistency went up. :)
 
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