Often when trading the ETF's I will be watching some of the major components. In the case of the SKF, I will watch JPM GS. If those or others within the banking sector breaks out or down, I might do something on the ETF.
why would you want to swtich from forex and indices (futures?) to stocks? Scalping one stock all day will make doing your taxes SUCK. Enjoy the wash sales and listing each trade individually. In and out 10 times a day 5 days a week 50 weeks a year = 2,500 round trips all to be listed individually on your taxes.
Taxes isn't a problem with IRA's. In the past I had "trader status" and considering going back for the brokerage accounts.
hey guys thanks great stuff... as i said i want t try , i will not stop forex or indices trading , but the other day i was watching GS , really nice for scalping ! maybe not always , so i open this thread to c if there is some traders who scalp one or 2 stock and make great profits , i like to scalp forex but i need change and i want to expand my scalping opportinities . anyway sometimes i trade stocks via cfd and sometimes via DMA broker , i dont live in the US and i didnt pay taxes so far !
I've been trading/scalping almost exclusively in IYR/SRS the past year and have had great success. The key is to watch and be on top of the news of the major components and also follow XLF as it tends to lead/confirm a breakout. Starting to watch the QQQQ's but haven't been able to get a read on that market yet.