Just started my day trading journey beginning of this year, still haven't seen any consistency in result, TA seems completely useless for me after trying out for the past couple months, seriously need some guidance... 
Hong Kong stocks market Day Trader
- Thread starter HKtraderTT
- Start date
Check your transaction costs, than look for markets cheaper than HK stocks, it won't make you profitable but should at least slow the bleeding.
It sounds hopeless to day trade stocks for which you have to pay a transaction tax plus often for HK high commission. There is no transaction tax on most or all HK ETFs but the tax will kill most day trade attempts on single stocks. Besides some banks or brokerages offer discounts on day trades, so possibly daytrading ETFs is still workable, yet spreads are wide in HK , which might hurt a retail day trader.
It sounds hopeless to day trade stocks for which you have to pay a transaction tax plus often for HK high commission. There is no transaction tax on most or all HK ETFs but the tax will kill most day trade attempts on single stocks. Besides some banks or brokerages offer discounts on day trades, so possibly daytrading ETFs is still workable, yet spreads are wide in HK , which might hurt a retail day trader.
A couple of months!?!? No wonder! Plan on a couple of years! But then again it's not something everyone can grasp.
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Just started my day trading journey beginning of this year, still haven't seen any consistency in result, TA seems completely useless for me after trying out for the past couple months, seriously need some guidance...
0.2% tax per round, you trade 500 times then loses all money. Hk stock market is not for day trade.
Technical Analysis alone is a completely flawed method in an attempt to trade,
Much more so for day trading purposes...where things can be highly ambiguous,
You should only use and consider TA within the whole collective picture of things -- and always have a dynamic, open mind still,
Don't scalp for day trading purposes -- only trade or aim to capture the day's obvious major move(s),
Leverage or options on that, to amplify things,
Hone and develop your collective trading skill and intuition -- it may take some time, before a light bulb goes off and you feel confident,
If trading were So easy that a caveman can do it and become rich...Everyone, would be doing it,
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I signed up with one of the HK broker and they actually offer me quite a low commission, so actually day trade is actually possible to me. I joined the team there, the problem is I have no choice as they dont allow us to do swing trading (only day trade) and no futures or option.
Currently i just focus on those cheaper stocks, which normally below HK$5 and I only go in as the momentum comes. Scalping is not an option for me as the cost still kills. Still struggling at the moment, but I wont give up so easily.
Currently i just focus on those cheaper stocks, which normally below HK$5 and I only go in as the momentum comes. Scalping is not an option for me as the cost still kills. Still struggling at the moment, but I wont give up so easily.
OK for the commission, but what about the transaction tax ? It's 0.2% on a full trade, that makes a significant difference to one's Pnl, or am I missing some exemption ?
Did you check how (un)profitable are the other HK stocks daytraders in your team ?
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