that's my current path also. but i'm trying to go back to swing trade now cause i don't want to glue to the screen from 9:30 am - 4:00 pm est monday - friday.
I'm a day trader until I have to become a swing trader but no patience for investment trading (although I have an investment account opened in Q1 2020 that I use as a measuring point for how well I'm day/swing trading). At end of 2020 it was up 30% which isn't good enough for me but waiting to see how it does at end of year 1. At least the tax rate drops...
Ah the good ole days!!! Phone your broker, 3% commission per trade, Day old newspaper for research. Even with all that, trading seemed a better route than investing. Now I swing/position trade. Buy stocks that are going up and sell them when they stop.
Both swing and daytrading, though I think there's good potential in daytrading where you buy the open sell the close. No overnight gap risk and no need to scalp open range breakouts. Key is tightening trailing stop midday to protect vs noon reversals.
right. Those were the horrific good ole days where there were no computers & no handphones. we depended on the newspapers and fixed-line telephone for investing/trading. 99% of the time, the stock market moved during the day time. By the time I entered the trade the next day, the war was over. That was when I determined that day trading was the way to go.
surgeons, lawyers, judges, traders ... have to concentrate on their jobs for hours. for day traders, we can trade the first 3 hours of the session. then take a break. then the next 3 hours of the session. some traders trade the first 3 hours and that's it for the day. So day trading suits them very well. For me, I am a workaholic. so day trading suits me very well too. I trade early Asian session, remaining Asian session/ early Eur session, end Eur session/ early US session. At times, I trade mid-Eur session.
Since you've been staring at charts for as long as I've been alive, please tell me you own or can comfortably own the car in your profile picture
I trade on 5min and when I look at the 1min all I see is noise and false signals. I understand traders have their own style and perceive charts differently, but can you briefly explain how you perceive the choppiness and noise as signals?
Interesting observation. I trade at 1 min, occasionally going to 5 min for perspective, but always feel I'm missing out on something. 5 min seems like a long time and much can happen in that time frame, although I have gotten caught a few times by sudden drops after hitting a high that distance would have given me pause.
I’m too a workaholic. I don’t trade the Asian or European market. Only mostly US equities and spy etf. No penny stocks. I only made $5k for the whole year of 2020 doing day trade and swing trade. And I’m not happy with the result for the amount of work I put in. Funny thing is I recently start doing part time gig as food bike delivery with door dash, ubereat and postmates in the month of December and I already made about $1k. I really enjoy it and less stressful than trading and I’m getting some health benefits like exercising. Maybe I should concentrate more on that side gig instead trading for the new year.