With daytrading I find that the stocks whipsaw enough to knock out stop losses routinely. So the only way to get in and get profis quickly is to go in as soon as the stock starts up and have a small profit goal with no profit pullback or profit protection, an stop loss = profit goal.
I also trade 100 shares for $1 at IB.
I don’t have a magic daytrading strategy. I will say I daytrade U.S. Steel, symbol=X.
It moves a few % a day, nearly everyday.
I do much better with
swingtrading, with the conservative long and short
strategies.
Since I only trade 100 shares at a time it only ties up a few thousand per trade.
Like I stated before, I add to losers every 10% drop.
What I like most about
swingtrading is that the stock does not have to perform in 1 day only, I am not competing with thousands of daytraders and the institutional computers, and I get to take advantage of the overnight moves in the market, and I’m at ease with the
stock market. I don’t care if the market goes up or
down as I always have positions on both side of the market.
I run multipl traders and do not mix day with
swing trading. If you are running 1 trader then you need to be 100% on board with the type of trading you are going to do.
Ed
Barsano Creator