As with mutual fund investing, if your mutual fund does not beat the S&P 500 then buy index funds such as SVSPX. For daytrading, if you are good and can make money every month than continue on. If not, then try my simple yet profitable strategy until you can beat it. peace. p.s. I assume you have at least 25k in your account to meet SEC req.'s.
* Take the trades in the opposite direction. * Don't use price-stops (manage risk by reducing position size dramatically + use time-stops) * Take profits at where your stop would had been if you have taken the trades in the "right" direction. don't be a sucker
very good posting here. learned something. I think, for day trading: all depends on the speed of the fingers and your decision making 1) do not focus on where stop should be, since the timeframe is too short 2) do not focus on what the R/R is, since there is no ideal market there, play defense, not offense, get $0.3 is a good trade, get a $1 is super 2) do not treat day trades like daily swing trades, in several day swing trades, you do not need the intra-day chart/dynamics, so you can think/plan carefully, at this situation, I think R/R, Stop-loss concept applies.
What is your simple profitable strategy? I haven't been on ET in a while so sorry if I missed something that is common knowledge here.
that's pretty much what I was doing. I liked SLB. It was pretty predictable. I never had the money to buy Goog... at least not a whole hundred shares.
Imo an important general factor with stops when you are getting stopped out often is how quickly you're getting stopped out. If its very quick, then they might be too aggressive with the stop orders. If it takes a while, then you're entry points are wrong or you're not taking profits when you should. Overall stops are to stay in business, but shouldn't become a safetynet that is executed often. I'm not suggesting to not place stops, but to get stopped out often is very expensive. If you're getting stopped out often, you generally need a better mousetrap imo to quantify the place/time of you're entry points better.
day trading is for saps you can make much more money with larger trades than spending eight hours a day at a computer trading ticks.
Other than taking a big loss on AMD about a month ago, things are going ok. I haven't been actively trading much recently because I've been really busy with my job. How's your trading going?