I want to know how could somebody constantly profit for very long time and for big money just for intraday trading? Swifttrade/Titletrading only allow intra, and no overnight. How could somebody make 5M a year? in swifttrade? That is 20K a day. Even if they trade GOOG, NTRI, RACK type viotile stocks, they won't found even scalpe or swing profit intraday, because a lot of moves are from gaps and sudden move, which can not be predicted. Is trading intraday 100% a money manage work? like 2-tick stopwin and 1-tick stoploss in trends or 2-tick stoploss and 1-tickwin in ranges?
"a lot of moves are from gaps and sudden move, which can not be predicted." if you feel this way then you should probably re-examine your strategy, imo.
i am in no way to steal your secrets. could you please point what you are TAUGHT from prop shops? (not what you have learned, only what you are taught) any day trading books which tell real life trading, not some basic setup based on technicals. i want to know for example, if you see GOOG is at this price/volume at this certain minute, how many shares will you buy/short? with a passive order to wait others fill your order, or with an active order to take others' order. At what price you will stop win or stop loss?
<i>"any day trading books which tell real life trading, not some basic setup based on technicals. i want to know for example, if you see GOOG is at this price/volume at this certain minute, how many shares will you buy/short? with a passive order to wait others fill your order, or with an active order to take others' order. At what price you will stop win or stop loss?"</i> No retail books exist that come anywhere close to educating on that detailed stuff
With all respect, you need to learn this the slow hard way otherwise if someone drops it in your lap you will not recognize it for what it is
i need a starting point. it tooks me 7 years to learn on my own on investing without success, and only took me 3 months to become an invest pro after i know the right experts who taught me how to analyzing a business/company not a stock before i buy. since then, i have picked 100%, 200%, 300% 1000% gainers one after one another for 3 years.
Wow, if you're making that kind of gains then why even bother with day trading? Day trading is very tough and it drains you out both emotionally and physically. I hate to discourage you but it's the nasty truth. And trading goog is the fastest way to get an express ticket to death.. And I honestly believe that no one is going to lay out their day trading plan for you. They worked their brains out to develop a plan that works and it's just way too valuable to share with others. But even in the midst of this situation, there is a gentleman on this forum that revealed a rather risky but very good strategy. To find his strategy, search for 'traderich'... Also, many day traders don't have a precise strategy. They trade on impulse and gut feeling which develop from years of experience..
Oh WOW, is this ever so true. Here's a story: I was trading prop 2-3 years ago and a kid showed-up who had good trading knowledge and some experience. He plunked down his $5000 deposit and lost the entire nut after about 3-4 months. Why ? He had no INTRADAY experience. He held losers way, way too long. His reactions were slow and he was reluctant to admit when he was wrong. His win percentage was about 20-30%, so it was obvious he had no entry ideas. He finally quit, and then proceeded to trade longer-term with options. He ended-up making $15k within 3 months !