Hi, I recently posted this in the "Stocks" forum, but didn't get much response: I'm looking to pick the brain of active profitable "day" & "short term" traders. What are the symbols of some of your current favorite regular trading stocks? What kinds of characteristics do you look for in new stocks before you consider regularly trading them? tks
You will not get much response for a simple reason. These so called scalpers/ day traders live an existence of a street beggar. The walk around with a tin cup in hand putting nickles and dimes here and there shorting this and that, chasing other people's misfortunes when stocks fall on hard times. Than one day they get into a road side accident when a speeding car hits them on a busy intersection. Something goes wrong and the under capitalized account freezes and a margin call wipes them out. They live for 6 months and go back pumping gas at Uncle Joes garage or flipping burgers at Jim's bar and grill.
From what I take it day has been long recently and is probably pretty bitter after today's trading day so you should probably disregard his unhelpful and sarcastic post. Hopefully on a more helpful note, you want to look for stocks with good volume and tight spreads. Slippage is a big issue if you're scalping for very small profits. Other characteristics are likely going to depend on the individual trader's style. I'm sure those with more experience will have more information and insight for you. Good luck.
My reason for posting is as follows: I've gotten back into trading after a several year hiatus. My method used to be based on finding "in play" stocks intraday and using sensible risk management to get in on major intraday moves from several minutes to sometimes several hours. This was very successful for me back in late 90s & early 2k. I started trading again in Nov/07 &, after about 1.5 wks, got my market legs back. I was making money every week for 8 successive weeks while scaling up. I have found conditions to have changed drastically in equities since the 1st week in Feb. .... in my opinion, due to bracketing markets. My profits stopped & I scaled back down. Since then, I have been researching a lot of what other people are doing to make money & have been doing a lot of reading. Re grouping. I am proficient at TA & am looking at longer term S/R to validate potential moves (rather than just intraday levels). I'm also looking for relative strength/weakness in issues against the market. I dont scalp. So I'm really just looking for additional ideas on stock selection from profitable traders who trade either the intraday or short term (several days) to further my analysis. Any & all info appreciated. tks again
I gather that's all you do scalp equities on the downside? Hope you have accumulated great wealth in the meanwhile.
In the month of February, I only traded three different stocks. I traded the same two every day. Those two were Dow thirty stocks. In the last year I have only traded two stocks outside the Dow thirty and they were listed big caps. I do some rotation, but I have only ten stocks on my board. I do charting and research on only five of those.
I follow just one stock and trade it... to me it's best I know how she acts when she's hitting highs and lows I company and the name is EMCORE .. EMKR i LOVE YOU i SPEND MORE TIME WITH YOU THEN MY WIFE... EMCORE WILL BE A HIGH FLYER THIS YR INDEED........................GANG:eek: :eek:
If I were you I would select one stock from every major industry group and become an expert on those stocks. This way you can be assured of having something in your watch that is making some kind of move in all market conditions.
roflmao Thanks for the donation today I will buy some new rims for my Mercedes with your contribution to my tin cup. IF you don't like the way Capitalism works try living in Cuba for awhile and see how you like socialism.