Price Driver followers try to avoid paying heavy commissions. You know commissions are the #1 destroyer of day traders. As you progress in your knowledge, you'll learn not to brag about making multiple trades. Keep reading the surf report, we are accepting of all knowledge levels here, as we were all noobs once. surf.
Commissions are part of the game, the great thing about day trading is the ability to compound an account at a much faster rate than a buy and hold type. As you progress in your knowledge, you'll learn that there are many more opportunities out there if you learn to trade the short term gyrations. You don't have to take all of them in the beginning, as noobs tend you get chopped around when they try to actively trade, but once you have a system in place that can identify multiple opportunities, you may see what I'm talking about. Happy trading!
To daytrade profitably at the very least you need a serious price action education, something surf lacks in volume.
I get flashbacks to pre 2004 when I read this type of material. You likely did have glory days of day trading back in the day, we all did, so you don't need to keep reminding us again and again. Trying to guess the next move based on price action alone is a game that only uncaring brokers promote as it only serves to generate commissions. In this age of HFT-- reading price to get an edge is a fantasy. Maybe you are a broker trying to get more commissions? That's the only thing that makes sense. Please add value here or just leave. Glory day reminiscing and or broker shilling is not welcome.
Some more glory days! <I>Glory days well they'll pass you by Glory days in the wink of a young girl's eye Glory days, glory days Well there's a girl that lives up the block back in school she could turn all the boy's heads.</I> How do you suggest being educated to beat predatory, genetic, evolving algos designed to constantly change market structure on a tic by tic basis at times to throw off the competition? I really want to know!
You don't have to scalp the microstructure, take a small step back and look at the intraday swings (there are usually at least a few a day in the SPY that offer nice profit potential). No question a human cannot compete with an HFT algo on their turf. My suggestion is don't try and play their game!
I'll let you know when they are glory days. They are currently, well, still just trading days for me. I guess you lost your skill in 2004, no shame in that. Looks like you are getting back on your feet a bit with a decent start to 2013. Good luck to ya.
No disagreement here. Enjoy the cold, my pseudo Russian friend! surf PS-- some serious coin here in W Palm Beach. http://diamondsyacht.com/