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

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

 

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

 

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.

 

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.

 

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.

 

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

 

"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...

 

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