A dollar is a dollar, however you make it intra-day. I use to "over trade", but trading less seems to yield more profits. Specially for start up traders, learning not to be "baited" by the market is must have skill-set. I would like to hear from some you how many trades you make intra-day and how it relates to your profitability.
my guideline is that anytime you can cut the number of trades the better. fewer trades save on cost but mostly you are eliminating chances for errors.
Traders usually "under-trade" when they're making money. They don't trade enough. It's only when they're losing money that they overtrade.
To me it is like making taxes a driving concern. Sure it matters just like commissions. But I will make the money first, keep my eye on the goal, then deal with the transaction costs later. If I can control about 200K, notional amount in an ES contract for about $4, in a market that trade 4 billion a day, that is a great deal. Consider, if you buy real estate the transaction costs are there, or heck even buy taxable goods, you pay a about 10% in Seattle, not to mention the hidden costs. Make money first, then optimize transaction costs later. That being said I day trade a 1256 contract from the get go, not stocks.
%% Intraday?? As few as possible, per plan mostly; but i like candlecharts more than bid\ ask. Sounds like you are talking about stuff like SPY.......... =liquidity leader= fine. On not liquid LOL metals business/ weekly or 2 or 3 times\ per week. Best checks off my farm were more 10 year related . No wonder Paul tudor Jones bought a farm + shoots ducks for food.
Less is always more ... One trade in the morning, sometimes one trade in the afternoon, netted 15% of account Thursday.
%% ALL most always tru in tradin'; certain exception$ apply like/\private business trading[NON- NYSE/NQ] I like both NYSE/NQ but my point still stands. And your comment =110% sure applies to profits usually\ certainly not to work time \lazy\LOL Partial disclosUre/ i got rid of my brand 'Lazy Boy Chair'' too comfy, to easy to sleep overmuch. I HATED that brand from the get GO, NOT again$t comfy chairs\ more healthy to get up+ walk some times........................................................................... Strangely / after all these years Dave ramsey disclosed ,not again$t single stocks,, He did somewhat snarl '' single stock average is 7.5%, compared to 12% average pro return SPY benchmark......................................'' Some one snarled @ Dave ramsey once\ ''you can't' get 12%, GS doesnt get/average/ that\LOL As if GS limits us
%% Good bot shot; a turtle moves in an almost mechanical sense, on land anyway. Except on a game bird field/\, they simply move too fast to do a turtle pattern. He said i'm a member of a country club\ drives an old Ford pick Up truck\ does his drinkin' from a Dixie cup.................. T Tritt/ RINO Records> 1,777,777 video views