I was just wondering if daytrading (stocks) full time during a recession is a viable way to make a living. My main concern would be the level of volatility and volume during a recession. Maybe longtime traders like rs7 or Don Bright who post here on ET could give some insight into this. Thanks.
that is a very good question. If we get a slow prolonged "bottom" eventually with low volatilty that would really suck.
1974-1982. Only the strong survived. Selling into strength and buying wekness and getting out if it didn't go your way right away while making your goals smaller. Expectations need to be LOWERED.
Great question, but I am not as worried about a recession as I am about of a total lack of news. My worst fear is that the government cracks down so hard on everyone that nobody puts out any news. It seems as though it will be in a company's best interest to provide no guidance or projections of any kind. In this type of environment everyone will be trading in the dark with no trends up or down.
What are you new at? Certainly not trading. I was a product of the bubble years, and I can't agree more about lowering expectations. It has taken a lot of effort for me to not be such a greedy SOB. Now, when I want to double down on a winning position, I more often scale out of half.
Recession is the best time for short trade, Very fast down side. If you are holding long....... you are out of luck.
I worry about this all the time. A complete lack of interest in the market and no volume or volatility. I think we are in for several years of an environment like this. I think learning other markets is a good way to beat it. Commodities, currencies, asian or european stock markets. Trading is trading after all.
Worldcom is trading high volume currently on news..... It did half a billion shares today, ousted only by over a billion the day it was relisted after the scandal. I guess we'll see monday. What are you talking about there is no news?!! There is a ton of news, and you could have used it to make a killing on SUNW or WCOME today, or INTC a couple days ago. News (usuallu bad) fuels volume and volatility in a bear market like we have. Lets pray for more scandals!!!
Look at today and the last few weeks. You would have made major money shorting tons of stocks that moves like 5-6-10pts in a day! If that's not enough for then I dunno what to say. It's all about how you trade. The only potential downside is that the volatility will died out if there's not enough participation. Then that would SUCK! But other than that, you still have thousands of stocks ready to go to zero. haha. J/K.