The only way i make my money is buying and holding when you try buying the movement you seem to give back the profits in commish, these market makers got the day traders down PACT! They know when we short or long and give us 10 to 20(sometimes) cents but 1 wrong trade and the last five(trades) are POOF gone.I would love to hear what everyone else view is on this. Thanks
Took me 4 months to realize that stocks were not meant to be daytraded and even with massive size, it is difficult. It's a losing battle with commissions , trade something else.
Day trading is far from finished... its a game of adaptation... it's no longer a cakewalk, but it still can be an ATM if ya know which buttons to press and if you recognise and adapt to the fact that the ATM code changes every so often... having said that, one frustrating thing for me is that my commission to profits ratio has grown as a result of lower absolute price levels, and the need to up my size (to maintain historical profitability levels) to accomodate the reduced volatility...
On the contrary, it seems to be getting better and better for me - so it must all be YOUR PERCEPTION. The answer is all in YOUR TRADING & EXECUTION: patterns/habits/successes/mistakes/setups etc. Analysis of this will allow you to tweak your system to compensate. Best, Paul
It's great to hear that some people are still making money.I guess my key is my patience.I need to be sharp every minute.
forget about webm and other otc nasty manipulated stocks like cree.... try psft or vrts or some of the bigger caps
fourcups......... Pay close attention to the good advice posted above by candletrader and slapshot. BSAM
I also disagree the last three month have been my best to date. I have been trading for 6 yrs. winters only.
If you're improving while the market gets worse, more power to you. But to imply that the market is getting better, and that for someone struggling the market being tough is merely his or her "perception," is stupid. By the thousands, daytraders as a whole (and on average) are not doing nearly as well (perhaps I should say they are doing worse) as in the past. The volume and volatility clearly signals the smaller number of opportunities. So please , be realistic!
I think you're MISSING THE BOAT with these gross generalizations that just because you're not making money that vis-a-vis most everyone else is. Somebody's making money in this market. Yes, it was very easy to come in and buy for a good part of the late 90's. And daytraders conditioned to a certain market may be slow to adjust. So what is whining getting you? How is that working out for you? To be a successful trader - in other words, to be able to make a consistent living at it over the long haul, you'll have to learn to adapt to changing market conditions. Happens to me about about two or three times a year, and I've been doing this for twelve years.