Very Little Opportunity Day Trading Stocks

NASDAQ - just plain difficult and too fast moving due to program scalping.

NYSE - Specialists are freezing the book every chance they get.

It's no longer about knowledge of trading...

The day trader has so little opportunity to even attempt a profit.

 

I agree it has been better, (the reason I tried the eMini´s), but I´m back now trading stocks. (I also do a little eMini scalping but my main trading will be stocks again)

My thoughts were I had to addapt the product to my trading but now I know one has to addapt his trading to the product.

 

so who is doing this nasdaq program scalping.....what is their profit goal per trade??? 2 cents??? very curious...

 

Yes, I know a few traders personally who spend the whole day scalping stocks like JDSU and SUNW for 2 or 3 cents. Their cost structure allows for it. Paying .005 and making 3 or 4 cents they do OK trading 30k or 40k a clip.

 

what about the "program" aspect of this??? how sophisticated is this???

 

I dont know much about it...but just watching those guys automatically sub-penny each other all day long makes me believe its pretty sophisticated.

 

I have to disagree with the above quote. Markets change all the time. In the late 90's one could let profits run a lot more than they can today. Thus, one has to adapt. In a football game a team with a passing oriented offense can't say "hey, the weather is crappy and we can't pass the ball much today". They have to adapt, run the ball or be more creative. Otherwise they'll face a big uphill battle. In trading it may mean going for smaller profits, which is what I do. Trade for a nickel or dime a trade on stocks. Or trade the SPY for 20 or 30 cents at a crack.

 

Are these guys so swift they are always on the right side of the trade? Gotta lose 1 or 2 or more cents with some frequency.

 

To this day, i will never understand why a trader would stick with stocks over the eminis. Where are the advantages. Anyone know?

 

The anser to the last question is:

Becasue there are toom any traders out there that don't know any better than to buy or sell individual stocks.

It's sad but it the TRUTH.

And a lor of them have their 7 too. LOL