how do you select stock when you are doing daytrading/?

[draggleking]

i am still a trainee in a branch of WTS in china ,. and

i start daytrading work when i was still a college student in chengdu sichuan province china . my first daytrading exprience begin in july 2008 , i send a resume to swifttrade CANADA and tell them the city that i stay , and ask if they could give me a job to make trading in USs tock . .. then , i receive the chengdu branch invitation and went theren , with one month study exprience . i was kicked of f by the manager . becaus i cant pas s t he keyboard speedtest . theres a keyboard test for ECN post and punch .. ... the manager demand we must pass through the test less than 1.2 second per hotkey . and there is about 50 hotkey in a test and we must pass through 100% right . but i failed . in 5times...



aft er , i go back to school and start my webbar life( in china , there are lots of webbars .). i deposit 400usd in mbtrading and after that i make the account to 2800USD . but then lost all the money ...
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in october 2008 , i went to another DAYTRADER branch named SPINNACHER , the boss is from wallstreet .they use laser platform i stay there for only on e week the boss ask me to resign cos they think i am not diciplined , and was too free for them , they cant manage


in october 2009 , i wen to jinhua SWIFTTRADE a branch loacated in zhejiang province and i am wenzhounese . near to the branch , but the boss quit me again , they think i use wroong ,method , i told the boss i am doing scalping . but they they use trendwayt to trade.. and then i back to wenzhou , and now there is only one branch in wenzhou zhejiang for usstock ,. named WTS . the thread i post before have attach 2 pictures that show my trades . do you use THE CHINESE QQ. my QQnumber is 454455274 , i have no msn. if you want to contact me , also can email me , my email address is draggleking@126.com

 

[NY0BScalper]

Quote from Bolimomo:

draggleking:

From your PnL graph, you seem to have a lot of stocks where you traded 100 shares and with a profit of $1 to $10 (or loss $1 to $10). Are you for real? I don't know what kind of commission rate you are paying. But the commissions can eat you alive (e.g. if you pay $7 a trade, $14 round trip). Unless you pay $0.01 per share.

My question is: Why do you feel you need to trade 20 different stocks everyday? Most of them are non-factors, with gain/loss of $1 to $10.

I would say focus on only a few that have the best reward opportunities and save yourself from being too distracted.

He's doing the right thing. He's scalping, and his comms are about 2 cents per 100 shares so it's a non-factor.

Original poster, I like your aggression and willingness to trade lots of different names. If you keep up what you're doing you will make good money one day.