Not sure why this hasn't already been brought up, but you are FAR too under capitalized to consider daytrading. I'd even say the same for swing trading. Focus on other sources of income to build your trading capital base.
Dude daytrading with money that's not real isn't daytrading... it's pipedreaming... simulator results have absolutely NOTHING to do with reality, NOHING NOTHING NOTHING. I speak from professional experience here... simulator is only useful for getting used to the software, the keys, and perhaps looking at the open book/LII/Tape.
LMAO! Dude you don't feel slippage on a demo... slippage is when you use three limit orders to get out of a market that's moving QUICKLY against you, before going market and getting out 24 cents away from where you expected... that just doesn't happen on demo... it's where you put a stop in and get filled 16 cents away from your stop price... that's slippage.
Even discounjting slippage, if you are doing better daytrading than you are with swing trading with the limited funds you have then I would say your targets for swingtrading are much too low for each position. Your target should be at least to the last pivot point, and if the stock is in an overall uptrend it should be higher than the last pivot.
I don't know what strategy you've been trading, but for many, including me, this has been a poor environment for swing trading, and the intraday timeframe has been a bit easier to trade. So you may simply be experiencing that. Also need to consider that you just may feel more comfortable intraday. A strategy needs to fit your personality, so don't fight it if it feels right. Follow your instincts. But you need a lot more time in the saddle before you come to that conclusion. And, because the market environment is always changing, it is a good thing to have a couple of different games you can play. Currently, for example, the daily charts are flopping all over the place day to day. But intraday action has been quite predictable given the intraday support to market averages on pullbacks. But of course that can change very quickly. So if you can manage to master both timeframes, it will come in handy.
Slippage on demo - 1) I trade 200 shares only...i dont know if that matters at all on a demo, but also I DONT get instant fills..sometimes it takes a second or two to get in/out. undercapitalized - On the demo I have 100k
Hey Cash, Do you think trading the demo, which allows for more capital, has made you a more profitable trader?? Or is it too early to say.
I don't think it's the capital as much as it is the number of opportunities I have on an intraday basis compared to a swing trading strategy. I had about 23k + including margin right now, but because my trading strategy fails most the time, I trade small size and hold for a while to allow the trade to work..but when day trading I can do 200 shares many times a day.
I average 328.67 a day.. that's 6,573.56 a month. Yea, yea i know..it's not real money . GS has been a real cash machine in the past few days.