I trade 1-3 ETFs only and have discovered that I get a very good feeling for the movements as compared to back then when I used to scan the market for "stocks in play" - only to get murdered! Focusing on 1-3 stocks/ETFs/financial products is the best strategy. All the best independent traders (we know who they all are) trade only a handful of financial products and get to understand the movements behind them. Less to focus on = better individual focus on each trade!
This is crap from some totally inane non-entity about his completely useless know-nothing site. Another naive scam artist. Noobs should ignore this sort of garbage.
If you trade stocks and use a longer timeframe than quick scalping then using a laptop on the move is a great idea. I do this occasionally-just clear off for a few days 'cybergypsy'! I don't think the importance of a top down approach has been mentioned. I always look at what the INDU (this may have to change to SPX if dow keeps losing value at current rate). I also wait for the right set-up and make sure I'm on the right side of sentiment, i.e. if indicators point to an o/s situation but it's obvious that the bears have the upper hand then I'm very careful not tolet losses run and if possible get out with a break even. I used to trade NQ futures but found this too stressful. Now I'm relaxed and don't trade more than a few hundred shares. I now enjoy trading, but you have to be disciplined and sit there every day watching, listening and thinking.
daytrading is the hard way to make easy money and for stocks, the daily profits is limited if you daytrade.
There are certainly pros and cons to day trading. Your potential for large profits is somewhat limited, however by not holding positions overnight you potentially reduce your risk. It comes down to the individual. Work out what suits your trading personality.
same boring stocks day after day. SSO (long and short), AAPL and RIMM (but not since November). But replaced those with FAS (long and short. Opening range breakouts intra-day patterns (1 hr, 15 min, 5 min, 1 min entry) opening gap fades on a few select stocks. dragging my feet on moving to the minis........ when it became boring, the consistency went up.