How many cents can I expect to take out of the market?

Discussion in 'Professional Trading' started by fatrat, Sep 16, 2005.

  1. The kid been trading for a few months and obviously is looking to improve himself. Why be a dick and post this sort of message?

    #11     Sep 16, 2005
  2. Fatrat,

    I have posted this advice many times on multiple threads but i think this may apply to you as well. To be honest, stocks like DNA and BA are not for new traders to learn from. They are filled with tons of experienced pros whose goal it is to build big positions and whipsaw inexperienced daytraders in and out at various "critical levels". I believe it would do you very good to scan through many NYSE issues, look for stocks trading less than a million shares a day, and learn to read the tape in them. They are slower and do have less action but trading these will help you develop your tape reading skills and will be easier to identify when a floor broker or trader is working an order.
    I dont know, thats just something I feel strongly about because I have seen many traders come and go b/c they tried to trade the more volitile stocks right off the bat and lost their cap before they've given themselves a fair shot at trading.

    #12     Sep 16, 2005
  3. Sorry, but you have to cut this out. You have been a member since 2003 and have not figured out how useless such replies are? Amazing....

    I'm sure you can be more constuctive with your time.
    #13     Sep 16, 2005
  4. I disagree with the pontential for trading stocks off the bat.
    If it wasn't for the many trade I made at the open I would have blown out.
    As a matter of fact that's where I made the most money: you can expect massive moves in the space of a few sec. and of course the risks increase but the rewards are simply huge.
    Also you are enetring in a trade with better setup that you might find scanning the market all day long, where you can make a bigger than expected loss all the same.
    #14     Sep 16, 2005
  5. fatrat


    If you have any NYSE stocks you can recommend, I will be willing to look at them for the academic exercise.

    Another question: Are you STRICTLY waiting for opportunities to take when you see floor brokers/specialist activities, or are you trading other setups as well?

    #15     Sep 16, 2005
  6. Here's a good "academic exercise".

    One of my best day trades of the year.
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    #16     Sep 17, 2005
  7. Cheese


    Well you know that the entire plethora of humpty dumpty dummy do-gooders come in on thread like this and encourage the poor sucker to carry on and jack away the rest of his money until there is none left. How sensible is that?
    #17     Sep 17, 2005