advice on day trading strategies

Discussion in 'Strategy Development' started by burntem, Jul 14, 2005.

  1. burntem

    burntem

    recently took a job with a prop trading firm and realize they are merely sacalpers. For the guys whom have low commisions this is not a problem for a newcomer like me I prefer not to churn these stocks with the hope of receiving pittance after commisions are paid. I would like to know some strategies for longer term "day strategies" I can't hold overnight positions. any help...please I feel like the way I am being taught is making the firm money without helping fatten my wallet especially the way the market is now. The guys I work alongside are good traders but they only know how to scalp. I want more. Thanks.
     
  2. BSAM

    BSAM

    Burn.....

    Do you feel that you have a firm understanding of S/R and what to do when S/R fails? (Not something one learns overnight; believe me.)
     
  3. Take a look at the "Market Profile" books. It's a decent "tool" that can be applied on an intraday basis.
     
  4. Everest

    Everest


    Whilst your'e merely a twat then

    Until you've cut your teeth, young man, I would consider engaging brain before fingers.
     
  5. Why did you pick them over others if their trading philosophy didn't match what you want to do ???

    More importantly, if your going to stay there using a different trading style in comparison to those at the prop firm...

    Why stay there ???

    Tough learning situation your in because you don't have that in person learning environment (unless you decide to scalp)...

    Forced to get help outside your prop firm as you as you are doing now.

    NihabaAshi
     
  6. Here's a hint:

    Continuously adaptive price model co-integrated to female hemline levels :D

    Sorry, couldn't resist - Quant damage!:D :D :D