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Most popular stocks for daytrading
- Thread starter Walther
- Start date
Quote from bundlemaker:
..All I know is I struggled for 3 years to trade stocks and never really understood what was going on. I had my epiphany with futures and now understand what is happening and why I do what I do. ...
could you elaborate on it a bit, may be yours will lead to mine, tia.
Nkhoi,
In the market wizards books, the punch line was more or less that you had to match your strategy with your personality. Well, that suggests there are many ways to skin the market cat, and I had a tough time wrapping my brain around that. I've always been the kind of person that had to do it the "right way". Sort of a perfectionist. Well, let me tell you that don't work in the markets. Once I let go of having to find the right way and just played around with stuff that made sense to me, then the cash register started ringing. Hope this helps, feel free to ask more, PM me is appropriate.
In the market wizards books, the punch line was more or less that you had to match your strategy with your personality. Well, that suggests there are many ways to skin the market cat, and I had a tough time wrapping my brain around that. I've always been the kind of person that had to do it the "right way". Sort of a perfectionist. Well, let me tell you that don't work in the markets. Once I let go of having to find the right way and just played around with stuff that made sense to me, then the cash register started ringing. Hope this helps, feel free to ask more, PM me is appropriate.
Quote from Walther:
Guys,
What are the most popular stocks for daytrading ( not scalping ) ? I would like to test some of my methods on unrelated stocks other then MSFT or Intel .
Thanks,
Walter
As I have answered in the magazine several times when asked this question.
Be sure that there are not more than 3 letters in the Symbol.
Very liquid, 2 Mil shares per day.
Can handle 5,000 shares per dime easily.
Has "opening only orders"
Has MOC imbalances posted.
Tends to either follow or drift with the S&P 500 futures.
Re: Zero Sum game: Futures are a zero sum game, but that (in itself) does not make them impossible to trade (although a big factor).
However, since stocks tend to follow the "leading indicator" (futures), it has always been easier to trade stocks in our opinion.
(We do allow Futures trading, but don't really encourage it). If someone is really savvy, and has an urge to trade Emini's, then fine....show us that you're making money....if you don't, then we discuss your continuing to do so.
There certainly doesn't need to be a "war" between equities and futures traders....there is plenty of liquidity in both.
Good Day!
Don
Quote from Don Bright:
Be sure that there are not more than 3 letters in the Symbol.
Very liquid, 2 Mil shares per day.
Can handle 5,000 shares per dime easily.
Has "opening only orders"
Has MOC imbalances posted.
Tends to either follow or drift with the S&P 500 futures.
Don,
Not to argumentative...but this is YOU (or should I say your companies bias or opinion) ...again not being argumentative....just pointing out that in our firm we have several very successful traders who only trade Nasdaq issues and are very profitable doing it..in fact we have some significant scalpers trading issues with much less than 2 mill volume daily....I just want people to understand you "teach" a philosophy that is (in your humble opinion) "the way" and I want others to know you can be very successful trading "other" styles...it really just is what works for you. We have several "very" successful Eurex traders, and some Bund traders as well... it really is whatever floats your boat will work for you.
Just another opinion.....
rttrader1-
Quote from rttrader1:
Quote from Don Bright:
Be sure that there are not more than 3 letters in the Symbol.
Very liquid, 2 Mil shares per day.
Can handle 5,000 shares per dime easily.
Has "opening only orders"
Has MOC imbalances posted.
Tends to either follow or drift with the S&P 500 futures.
Don,
Not to argumentative...but this is YOU (or should I say your companies bias or opinion) ...again not being argumentative....just pointing out that in our firm we have several very successful traders who only trade Nasdaq issues and are very profitable doing it..in fact we have some significant scalpers trading issues with much less than 2 mill volume daily....I just want people to understand you "teach" a philosophy that is (in your humble opinion) "the way" and I want others to know you can be very successful trading "other" styles...it really just is what works for you. We have several "very" successful Eurex traders, and some Bund traders as well... it really is whatever floats your boat will work for you.
Just another opinion.....
rttrader1-
We have a few successful (ex market maker) traders who like to scalp nasdaq stocks...it's not a big deal at all. We simply look at the bottom line...if they make money, keep doing it...if they don't then (perhaps) listen to what we can show them from our perspective (with 700 traders or so).
My comments apply to those new to the business. Since 40%+ of all the traders money is made doing opening only strategies, which cannot be done on the Naz, we like to have our new people "pay for their learnign curve" by starting out with a couple hundred buck by 10 AM Ny time.
The only "bias" we may have is towards profitability (although, I will "give you" that we definitely lean towards listed). Since the MM firms are the "pro's" with the Naz, and we can duplicate the "pro's" with listed (by being surrogate specialists), we find that we have a much better edge.
As far as the other derivatives go...again, not a big deal, they come and go as far as "being in fashion" every few years....usually based on good marketing by some brokerage/access firms vs. trading firms.
We trade options, futures, equities, the whole deal....again, I simply try to get the new people profitable more quickly, and it is simply easier to do with listed stocks, especially with the openings. After they are making a couple grand/week, they can whatever they choose..... I think we agree on that....
Don