When I hold a position for more than 1 minute I start experiencing anxiety attacks:eek: I never allow myself to lose more than 5 cents, I don't like to lose money so I cut bad trades instantly. In scalping if you are on the right side of the trade only 50% (or maybe less) of the time, but you cut the loses very fast and ride the winners you can do OK.
I've had fairly good luck with stocks a I can pair-off. Oil's have really been good. CVX XOM CCL RCL GCI KRI BP PHM TOL BZH
391 area is dangerous to hold Longs on this stock...although the dow for me is on an uptrend I think will correct again from 10,750 area to 10,000 again I will wait to long goog at 435 area
For those interested... I found this article that list stocks that may lend themselves as good daytrading candidates. <b>10 Stocks with Valuable Volatility</b> http://news.morningstar.com/doc/article/0,,148211,00.htmlas