How do you all trade STOCKS?
- Thread starter philipatt
- Start date
Yes...if you have a margin account. Retail accounts give 2 to 1 margin. If you have 25K you can get 4 to 1 margin (some places will give you 10 to 1 with series 7 licence) and Bright Traders get unlimited margin.
I figured that longtime ago. Day scalpers and penny grinders.
Like day laborers when the finish work at sundown they go home count cash and buy some bread and cheap liquor...same here these members of lowest rung profession on Wall street are day scalpers, picking nickles and dimes and call that trading.
I have yet to meet sophisticated option strategists who make size able income and investors who build long term wealth via asset appreciation....
I have a time frame of from 1 day to anything up to a week, and on rare occasions into the second week. That goes for both long and short positions. The time frame really depends on my target expectations and the strength of the move. Tried intra-day trading on several occasions to see what all the hype was about. It wasn't worth the adrenaline rush. I was leaving thousands behind on the table.
I predict a day when you least expect it that you wish you traded in and out of a stock. When you wake in the morning to find you account wiped out by unexpected news..an attack on American soil.. a natural disaster...etc. We have been fortunate to have not had anything like that recently. When we do I predict you will change your handle to DayTrader. My friend you have not only been brainwashed to believe that buying and holding for the long haul is the thing to do you, have now become the poster child and walking advertisement for the street propaganda campaign that has gone on for as long as the markets have existed. Someone has to hold the bag. That someone is you. If you knew even remotely anything about the mechanics of trading you can prosper as a scalper in any time frame. There is no definition of scalper. Picking up nickels and dimes 'eh. Scalping and Trading is about setups and being able to identify these setups ina timely fashion to capitalize on them. If you saw twenty thousand dimes on the ground would you pick them up? Your mentality of 100 share lot trading makes scalping seem like a fruitless venture but for a professional trader with capital backing scalping is almost risk free when entering into the right setups and even when you do catch a bad one, the good ones more than make up for it.
G'day my2cts. Are you referring to me when you say I'll wake up and be wiped out. Call it what you will, but whenever there is bad news or good news around the corner, it's already coming through on the medium term charts before it hits the media or you wake up in the morning and miss the big gap. Someone with a lot more coin than you or I is always in the know and getting set before the action happens, and it always shows in the price action before the big event. When the big wipe out or big rally happens, it's the bloke that rides it out from start to finish that cashes in. These things don't happen over night. They take weeks and sometimes months. I'm not saying day trading doesn't work for you and a lot of others. I'm saying it doesn't work for me. I couldn't be bothered making half a dozen trades a day to make a couple of percent here and there when I can get set once or twice a week and take the whole swing, up or down using leverage.