Why Daytrade????

[Tums]

Quote from cvds16:

retire 45,

I'm quite new to swing trading, gave it a try a few years ago , but that didn't seem to work out, I was probably doing things wrong. But I might be interested in giving it another try ...

How do you define the 'right conditions', what is 'a great setup' ...
Do you look at the broad market indices before you put on a trade in an individual stock ...
Any books you could advise to read on swing-trading?

try this good read:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=38777

 

[ronblack]

Quote from craneman:

I agree that people who say day trading is a waste of time simply dont know what they are doing. A good trader should be able to trade multiple timeframes depending on market conditions IMHO. I am primarily a swing trader as well (2-10 days) but I also have some position trades with can last several months. As a breakout trader I trade the same patterns on a 2/5min chart as on a daily/weekly chart. When the market gets volatile like it has been the last couple of months swing trading can be quite difficult, but the large intra-day moves in this volatile market can be very lucrative for an experienced day trader.

And contrary to what some might believe not all daytrading is scalping for $0.10 - 0.20 on a 1-2min hold. I typically hold my day trades for several hours and look for $.50 - $5.00 continuation type moves instead.

I cant understand for the life of me why anyone would pay good money to drive a Hyundai, but I'm sure there are people out there somewhere who have had good luck with them.

Cheers!

Good post!

Ron

 

[scriabinop23]

Quote from cvds16:

How do you define the 'right conditions', what is 'a great setup' ...
Do you look at the broad market indices before you put on a trade in an individual stock ...
Any books you could advise to read on swing-trading?

August 16th.

If made one trade the entire year on Aug 16 and just bought everything, that was the day.