I'm been studying and doing simulated intraday trading when I recently picked up a book by Larry Williams. If you aren't familiar with his work, he is not big on T.A. and intraday trading. He relies on research, statistics and interday trades, often lasting 2-4 days. He makes some good arguments for interday trading and against intraday trading, a main one being giving the market time to move. I remember another author saying that intraday trading is more difficult and that a trader should master interday trading before moving to intraday trading. So, from those with experience, is intraday more difficult? What other considerations are there? (obviously commissions are much higher with intraday) Brooks
Actually One should master intraday before moving onto interday Interday = higher profits per roundt Intraday = lower profits per roundt Sort of like a sniper, as he becomes more skilled. One shot. One kill. Before he become the expert, he'll need to be shooting hundreds of shots, hundreds of targets. Until he can become an expert. Interday is truely relaxing. One or two entries. Large contracts. Large profits. Don't confuse the two with different sized stops though. Lots of people use longer term to justify their huge stop ranges which just means they have no idea how to trade intraday at all.
=========== BrooksRymes; Its a question of times. Coolweb has a cool illustration; Like inday-weekly, more so than intraday, but intraday gets paid more often,and market makers/specialists are required to trade intraday. Will add on to coolweb concrete illustration; take most of my deer with a single shot .50 caliber muzzleoader, our game/fish commission gives us a longer season for muzzleoaders.Have to be careful ,primitive weapons = so S_L_O_W, to reload. Course the reason the govt gives a longer season is to have a bigger net harvest, biggers net income , bigger %% harvest; proper wildlife management REQUIRES a certain % or %% harvest, or disease, starvation, automobile will do harvest However also like to do high volume gamebird shoot, 25 shots or hundreds or more shots/day; you don't get as much meat, unless you go to South America, but its more fun & different season.[Earlier,usually warmer season] Its harder cause gamebirds fly faster patterns , than deer jump. patterns;, & its harder [high vol]on your shoulder, even with recoil pad.
Choose intraday, if you want to just amass money rather than fight for what is called 'trading for a living'. Choose index futures for your market (eg Dow). The aim is simple: to scoop out what each trading day offers. Why evade the full day on day opportunity by dicking around with trading positions inter-day, inter-week, inter-decade?