I Know Absolutely Nothing About Day Trading...Where Should I Start?

[ammo]

with that chart u could day trade the move into the cleavage circled thats a point times a 4 lot in es is $200 a day,you could probably survive on this as a new trader ,think of it as getting paid to go to school or free tuition

 

[ammo]

there is also a 4 pt move there with the missing letters in the rectangle..tracking this by hand, your hand will eventually be telling you where the market is going several times a day,don't make a trade unless your hand says so..fastest way for a new guy to get a handle on the market..in 6 months your hand will notice there are only a handful of patterns..makes complicated seem simple

 

[stevenpaul]

Quote from jnbadger:

Let a daytrade turn into an investment, and wait for it to come back? How'd that work out for folks in Bear Stearns? They may be waiting a while for that one to come back, and that was truly "Investment Grade" material.

This is not trading advice. OP, please don't listen to this shit. He is telling you how to make the occasional dollar, while putting you at the risk of bankruptcy because of one bad trade which you didn't have the discipline to get out of when you knew you were wrong.

I said do this with quality issues, and without leverage. I do this with diversified ETFs mostly. Bear Stearns was always a high flier. I wouldn't use this with any of the financials. If I did branch out into stocks, I'd only use a small percentage of my funds. OP, do listen to this shit and try it out on paper for a while. In fact, open several paper trading accounts and see which strategy actually works.

 

[shopster]

Quote from stevenpaul:

I said do this with quality issues, and without leverage. I do this with diversified ETFs mostly.

that is investing.

you don't trade and have no idea.

-1

s

 

[stevenpaul]

Quote from shopster:

that is investing.

you don't trade and have no idea.

-1

s

Pure semantics. Cut the quibbling. Don't know what anyway? Like I said, I'm a day trader when right, a buy and holder when wrong.

 

[jnbadger]

Quote from stevenpaul:

I said do this with quality issues, and without leverage. I do this with diversified ETFs mostly. Bear Stearns was always a high flier. I wouldn't use this with any of the financials. If I did branch out into stocks, I'd only use a small percentage of my funds. OP, do listen to this shit and try it out on paper for a while. In fact, open several paper trading accounts and see which strategy actually works.

Etf's get hammered also, but I think I know what you mean. I have thought about averaging in and out of XHB, IE "playing an inventory market maker", but it has been evident that there are much better things to do with my capital.

 

[jnbadger]

Quote from stevenpaul:

Pure semantics. Cut the quibbling. Don't know what anyway? Like I said, I'm a day trader when right, a buy and holder when wrong.

I'm not sure it's just semantics. There is definitely a difference between trading and what you are talking about.

 

[Wide Tailz]

Quote from stevenpaul:

Pure semantics. Cut the quibbling. Don't know what anyway? Like I said, I'm a day trader when right, a buy and holder when wrong.

"I cut my winners short and let my losses run"

 

[ammo]

Quote from Wide Tailz:

"I cut my winners short and let my losses run"

takes awhile to learn to love losses,part of trading,but learn to love,means keeping wounds,losses,quick n small...

 

[ammo]

Quote from clclark007:

Hey guys, I know absolutely nothing about trading .

for starters make this your montra, 30 days in or 30 yrs out,sargent shultz famous line"i know nothing " might be the most beneficial belief/misbelief you can hang on to