Day Trading
 

Any day traders here? I've been doing pretty good this year with Apple and Dell.

If you have been doing so good why did you fuck me out of a chump hundo in traffic?

bump for possible drama

I will hold my shares for better times!

doesnt look like any of them coming any time soon!

Been buying lots of cheap financials stocks.
When they go back up, I should be happy...

Then you are lucky because apple is too volatile for most day traders. Do you actually day trade? i,.e., not hold any stocks over night?

BAD MOVE! If they are falling in value, DUMP THEM NOW and sell short. You can make money regardless of the direction of the market. Do not believe all the bullshit that brokers tell you about shorting. If you use a trailing stop on all your day trades and work in a system that is NOT subject to emotions and market swings, you can make money day trading every day.

Brokers are the spawn of Satan. Whenever the big brokerages recommend a buy, you will usually see them in Level II SELLING the exact same stock; conversely, when r=the recommend a sell, you will find them BUYING. They use their clients' as sheep the way a minister uses his flock - to get them to do things in the best interest of the broker/minister. They tell you that shorting stock is risky (a lie) yet they do it more than they go long; they tell you that everybody loses money day trading (another lie), yet that is all they do from open to close -- DAY TRADE.

Successful day traders are a threat to major brokerages, which is why they perpetuate the myth that it is a losing proposition. Of course, people can and do lose money day trading (but they lose more taking the advice of their brokers). To make money day trading, you need a system that will force you to execute buys and sells once your criteria have been met. If you stay true tot he system, you will make money, not on every single trade, but overall you will come out on top, because you are playing the percentages. The minute you start holding trades longer to try to make more $$ or dumping faster because you don't want to lose a penny, you're not going to fair well.

I will admit that I am currently having financial problems, but that was the result of an unexpected illness which drained my financial holdings to the point where I no longer had the minimum amount necessary to day trade (25k). My mobility is limited due to my need for oxygen but you can bet that once I have 25k in the bank again, I will hit level II and never look back. It SUCKS having the knowledge but no access.

That is what 90% of the market thinks and is the reason why most people lose money. The other 10% sell overpriced stocks short and buy them back when they tank. It is easier to make money shorting than it is going long. I know some traders who ONLY short and NEVER go long. They never hold stocks overnight though (you pay interest when you short because you are basically borrowing from your broker).

scalping eighths in jdsu baby; those were the days.

I day trade forex and do fairly well :winkwink: Up 6774.18 so far today. I used to do quite a bit of options trading but the forex market is much faster and open 24 hours with the exception of Friday, Saturday and Sunday.

WM at less than $4 is not really a potential money loser.
It's either WM that could rebound or burn $5k in Vegas where the odds of coming out ahead are really slim...:2 cents:

You are missing the point. When you day trade, you throw away all the shit people use to analyze long term potential of a stock, like the PE ratio. You do technical analysis, which is the study of chart patterns.

The best day traders stick to one or two stocks and buy and sell them many times each day.

EVERY stock has short term volatility; they all rise and fall as traders take profits and buy on lows.

If you are going to day trade, you need to get the long term mentality out of your head. You make small profits several times each day which can add up to thousands if you know the pattern of the stock well enough.

The closer you analyze the charts for a particular stock, the better you will be at finding when to buy and when to sell (or when to sell short and buy back), the KEY skill in day trading (where timing is EVERYTHING).

I would say that 6k profit with several hours still remaining in the trading day is 'fairly well.'

That's the great thing about forex. The trading day doesn't end till Friday at 5pm EST when NY closes. You can trade literally 24 hours per day if you wish. If you use automated trading systems as I do, you can be trading while you're sleeping although I'm not brave enough to leave my trading to machines just yet.

Dead on. When I was trading options/stocks I studied just a few companies (mainly csco) and traded in and out all day.

It was fairly easy money if you knew what you were doing which wasn't hard if you studied just a few companies.

It's so much more than just tech analysis though, fundamentals played a big part and studying what news affected your holdings and which way was a big part too. News trades ruled. :upsidedow