when day trading...

is it better to follow a small group of around 5 stocks or have a large watch list and trade where the action is?

 

I day trade bond futures and forex, not stocks, but I believe the same concept applies: Less is more!

I normally don't track more than 1-2 instruments during the day. Having a big watch list always causes me to become undisciplined and make random trades.

 

I trade about 2000 stocks

 

I second that... it's better focusing on 1, 2 maybe 3 ibnstruments than having the whole screen plastered with little charts from a big watchlist...

 

:eek: so you have a list of 2000 stocks and every day you select the ones (How many?) you are going to trade?

 

I agree - I just trade ES and TF, and sometimes NQ.

 

Depends what you do.

 

sure, but if you trade the instruments actively during the day I really think lesser is more...

 

i've traded 704 different stocks this year so far. watch about 1000. i just apply the same strategies across all of them

but i know guys who trade just a few stocks and they do quite well too. whatever fits your personality the best

 

Simple support and resistance on the ES. Makes my living.