Any Daytraders Around?

[20yearsinthai]

would like to get together to share ideas, methods , etc.. to daytarading US futures NQ, ES etc,, Im a beginner making some progress but need some mentorship--anyone?

[yoshiwara]

day trading or trading for any other period for that matter is about taking a position and assuming risk.

best to practice a pretend an account for 6 months or so at first.

You cannot start with a blank mind unless you want to fall down a hole.

[richardjomtien]

Pretty hard way to make money and lose your mind....

Go and buy some books on Options, much better way to earn an income, and with options you can select your time period from days to years so you dont have to be watching a computer screen all day long!

Buy me a ticket from Australia to Thailand and I can teach you the basics lol....

[whiteman]

Buy me a ticket from Australia to Thailand and I can teach you the basics lol....

If you can not afford to buy your own ticket with the strong ausy $ as it is now then it does not say much about your being able to make much money your self in this field. Even with your so called basic know how

[USNret]

As the study shows, 80% of day traders lose money. In general, the only ones who make money are the largest capitalized & most active. When you take commission fees into account, even many of those end up with a net loss. This study was largely based on a 2004 study of traders on the Taiwan stock exchange. I have no reason to believe those in other national exchanges would fare any better. The greatest culprit is the individual's belief that somehow he/she is "different" and would do better than everyone else out there. This rarely proves to be the case.

http://traderfeed.blogspot.com/2008/01/do-individual-day-traders-make-money.html

[ExpatJ]

I am days/weeks trader during bear markets and volatile markets- using technical analysis to buy and sell solid growth stocks over a period of days to 3-4 weeks.

[osten]

I am a swing trader, so I hold stocks for several days to weeks at a time. I find it to be less stressful and ultimately more profitable than daytrading.

For some good educational resources, check out this technical trading blog: http://morpheustrading.com/blog

Hope that helps.

[MrWorldwide]

I'm a 7-11 trader - I buy gold for bargirls and give them the change to spend at 7-11.

[yoshiwara]

I am days/weeks trader during bear markets and volatile markets- using technical analysis to buy and sell solid growth stocks over a period of days to 3-4 weeks.

That one didn't work since last September where the market has steadily ground upwards.

[yoshiwara]

I am a swing trader, so I hold stocks for several days to weeks at a time. I find it to be less stressful and ultimately more profitable than daytrading.

For some good educational resources, check out this technical trading blog: http://morpheustrading.com/blog

Hope that helps.

That one works until it doesn't.

There is the old analysis that says that if you are ahead you are a trader and if you are losing you are an investor.

[yoshiwara]

I'm a 7-11 trader - I buy gold for bargirls and give them the change to spend at 7-11.

There are some guys for whom that works. They have serious money and doing such stuff is just small change at both ends.

And then there are the guys...........................

[ExpatJ]

I am days/weeks trader during bear markets and volatile markets- using technical analysis to buy and sell solid growth stocks over a period of days to 3-4 weeks.

That one didn't work since last September where the market has steadily ground upwards.

Yes for the last year - in this bull market- i have been buy and hold since everything is going upwards. Still make money, but not as fun as swing trading

[4evermaat]

i'm more into forex. I would just say that I trade the 'price action', but that phrase has been much overused as the term trend. No clear definition of the word in a way that can be applied to the markets mechanically. That was of course until apami came on the scene.

Most traders lack a complete trading system. Even more vendors use shiny objects to sell the IDEA that their system makes money, using all kinds of tricks from fake account statements to working in collusion with a less than reputable broker. Ironically enough, most traders seem to think that good rules alone, even automated, is the holy grail key to unlocking the markets. Even with a valid trading system, overleveraging/overconfidence can still wipe you out. I would only trade with a complete, transparent system approach.

It is best to understand the basic mechanics of the system. This way, when you steer it (trade it) will make much more sense. You are aware of the limitations and drawdowns and wont be frightened when trades don't appear to go "your way". When you treat it as a game and you attempt to force your opinion on the market, you panic and end up losing more slowly or quickly (time is irrelevant; the equity is what matters).