WHAT ARE THE BEST STOCKS WHERE YOU CAN GET THIS AMOUNT OF PLAY DAILY? ALSO, ANY FIRMS WHERE YOU CAN GET .01 SHR OR BETTER WITHOUT LICENSE?
No. I am no where near 100 - 200 trades a day. There is at least one person on this forum that does _AT_LEAST_ that kind of volume scalping. Do a search on scalping by clicking on the upper right hand corner. nitro
WHAT ABOUT TRADESTATION SECURITIES? THE AD POPS UP ALL THE TIME. ALSO, .10-.25 IS MINIMUM. WOULD ALSO LIKE TO KNOW THE MOST ACTIVES IN THE $20 TO $150 RANGE THAT GIVES CONSISTANT $1+ MOVES
Sorry everyone for the "Screaming" Caps. I've been monitoring the different threads and gathered a wealth of information. I've noticed that there has sometimes been a drum beat of trade small like 100-200 shs to get feet wet. Given that there is a low risk for serious downside damage for small share count, I would think there would be a large group trading high volume with the low brokerage prices. Am I missing something here?
Stockdance, I make it a point to keep any post I make as positive as I possibly can. With that in mind, I'll limit my post to simply saying that: 1. It's great that you are asking questions. Without asking, you won't grow. 2. Having said that, this is not the best forum to learn a "comprehensive trading education." You can learn a lot here, but I doubt you'll get complete answers to the questions that you have asked, or the ones that you have yet to ask. I STRONGLY suggest that if you don't know why people emphasis starting small that you FIND OUT before you trade. And when I say that, I mean internalizing the idea, not just reading some other guy's post. Best of luck, At the risk of "plugging" some other person's product, you might want to check out Tharp's book...
"comprehensive trading education." Apparently I came across as a novice. Actually, I've been DayTrading exclusively since 1999. Have made & lost some good size money. I have a tendency to go large size with the lower priced stocks 1-20 dollars that have come down 80 to 90% in the last couple years. I've have and have read many of the DayTrading books to glean information and apply some of the theories. My preference is to trade from the "gut" because that is where I've made the most money. Losses have come from bad money management. So, I'm not looking for a "comprehensive trading education", but wanted to know if some of the many experienced posters would respond and confirm that many use the low risk, high trading volume, of 100-200 shs to show some real profits. It appears that many, many traders here are not actually making a living trading.
I have been trading like this for awhile in Nasdaq stocks. First if there are stocks like that then I would like to know too. For the most part you don't see consistant moves like that all day long that are tradeable with any kind of decent size. The thinner stocks might have moves like that but the liquidity is very low for trying to accumulate 1000 or 2000 shares per trade. Also your risk is a lot higher in those stocks. Before the beginning of the year you were able to trade something amat for .10-.20 cents all day long risking up to a .2 cents. Now your risk and reward are about equal so you end up chewing yourself up. I am in an office of all scalpers and many are looking and experimenting to find other methods of trading. Also there is a lot more noise in the stocks because of low volume and decimals - making it hard to tell what is going on in the short term The scalpers that I know tend to trade amat, msft, brcd, brcm, qcom, and sebl. Hopefully this helps some.
B school always asks that question too, "comprehensive"? We all make decisions based on incomplete information, which is known at the decision point. Comprehensive means that you wish to hold someone/something else responsible, should the outcome not go as anticipated. In Finance classes, we usually say that the "risk free" interest rates are found in Savings Bank accounts, and that's why they offer mere appitances instead of the riskier trading vehicles (Mutuals, CD's, etc.). Simiilarly, your desire to become a Jedi Knight from jump street will lead you down the dark side of losses upon losses, just like the other commentator said, who struggled to find anything positive to reply to your naive questions. Scalping requires in the absolute, the fastest internet connection available in your city. T1, T3, dedicated SDSL or similar. Then, it also requires the fastest processors that you can afford, generally 1.7Ghz and above or dual processor machines. Then it requires limited applications being open other than the trading platform, namely no browsers (IE, NSCP, etc.) or other comm programs (Instant msgrs, etc.) so that the full weight of the machine concentrates on quote/chart/banner updates. then it also requires nerves of steel. There's an expression that says, the best way to make a lot of money is to start from a lot of money. This certainly applies to your ideal trading method.