To trade.. I currently trade csco,siri,jdsu,intc ..but I am having trouble with these stocks lately.. I started watching RIMM...cause it offers more momentum....but its a little expensive.... Anyone have any suggestions for stocks that are relatively cheap...that arent controlled by market makers too much..?? I think I might want to try stocks that move more ...like goog....but cheaper... Also, anyone think it is easier to trade NYSE than NASDAQ???? I have thought about moving there to trade NT..or something... DATRADR
If you want to find movement and lots of day traders, find a site online that offers an inplay section to see whats got news. Obviously NWAC was moving last week because of their news, and others everyday have stories that increase volatility and volume.
The bigger the stock (csco) the less its controled by a market maker/specialists, The smaller the stock, the more they like to play games with daytraders.. So if you are losing trading a big cap stock with 1m+ volume, then its not the market maker its you but if you are losing trading a small stock, definately go find a bigger volume stock where order flow proceeds market makers /specialists boredom.
The realtick "hottrend" is a good stuff to find out what thing its moving out... anyway, if you are newbie and want to follow justa a few stock and not jumping from one to another i suggest you: RIMM, AMZN, GOOG, EBAY, NVDA, BRCM, QLGC from the Nasdaq100, large caps like DELL, CSCO, MSFT, INTC, stock didn't work for daytrading these days, they are quite stuck in little ranges...
These stocks are fine to daytrade, you just have to size in in the right setups. 10k, 12k positions for 10-15 cents. Stuff like that. The ranges are tighter but that doesnt mean you cant make good money daytrading these issues.
Yea, i know. What i was trying to say is that those ones are hard for a newbie. And risk/reward ratios on those day-traders fell hard due to the little movements. Of course if a guy can't deal with major volatility better to stay on those turtles but slippage and relation between stops and targets will be make you works for cents and without possibilities of catch "a good run"...
So i prefer to trade RIMM with 0.20/30 pts stop and $1 target but with the possibility of catch 1.50 or 2 points sometimes.. CSCO or MSFT i can trade .05 against .15 of target but slippage and comissions eat more of the potential profits than in the RIMM case...
Earning season is back...it could offer you great opportunities if you can stomach a bit of risk, rewards can be substantial, and certainly there will not be lack of movements. Great place to gain experience: check what happen to stocks on earnings you'll see there are patterns and those patterns are the same again and again. By patterns I mean what happens at the open on the day following announcements, during the day and the following two-three days. This way you'll trade a new stock every single day, getting exposure to wider opportunities and preparing you for the next time when the same situation reoccurs. All the best B
I've had some pretty good luck with GNSS and ENER lately. ENER is especially volatile, but its cheaper than GOOG and BIDU.
I don't follow it anymore, but a few years back YHOO was famous for selling off after earnings...didn't matter what they were, always sold off.