[Bestpickrus]

I am a daytrader and just wanted to know if anyone makes money the same way I do? If so could be have our own section on the site so we can share ideas and possibly make some money..

[aldente]

Can you elaborate on day trading...?

[Bestpickrus]

Sure daytraders are players who do not invest. They hop into a play that is moving interday and sells for small or large profits in a 1 or 2 day holding period. Example look at PMEDW. ran from .01 to .16 in 3 days. A daytrader would hold the stock for no more then 3 days and take huge or small profits.

[Jack]

$this->bbcode_second_pass_quote('albente', 'C')an you elaborate on day trading...?

[Markos101]

Yes, I day trade, usually oil stocks only. I'm looking at oil futures at the moment.

Mark

[Markos101]

I trade on the LSE - currently I'm looking at Dana Petrolium (DNX) which has made me a nice amount of money over the past year, Burren Energy (BUR) and Tullow Oil is my latest watch. Although of course I make no recommendations - seek professional advice

Mark

[Bestpickrus]

I see what you mean. But alot of people who "Invest" in OTC always get hurt. Look at the people from CNES,PRRM,QBID,WFTV,MLON,UNQT just to name a few. If a stock is moving good idea to get in and out as the volume stops. A prime example was DTOI this morning... Veyr easy to get in and get out. The thing is you have to get out before the volume dries up....

[lowem]

I'm not a daytrader, more like a "night position investor".

Since, with a 12-13 hour timezone difference between Singapore and New York, your daytime is my night-time. And I don't hop in and out, I buy into positions and sit on them for weeks, maybe months, before selling. It's somewhere in the middle between Warren Buffett-style "buy-and-hold for years and years", and the frantic second-to-second, TA-based, Level 2, tick-by-tick trading that certain people prefer.

It also helps that my brokerage house has been waiving the stock custodian charges so I don't need to worry about sitting on them for a while ...

[Liamj]

I'll pick up the sh*t shovel and point out that day trading drives the speculative and extremely short-term thinking that is a solid chunk of how we got into this mess. Like sitting in a car bitching at traffic.

We all use money alienate/insulate ourselves from the impacts of our choices, but betting on rumour of which CEO is the more ruthless is a particularly damaging example of it.

[lowem]

My opinion is that the day-traders, momentum traders, position investors, buy-and-hold investors, whether couple-billion-dollar fund managers or couple-thousand-dollar small-timers, all have their own role to play. The short-term traders provide liquidity to the market while the longer-term folks provide some measure of stability.

On the other hand, humans are only responsible for a diminishing share of actual trades being done. According to some folks, program trading is accounting for half or more of the daily share volume. SkyNet rulez.

Ah, here it is :

"The crux of the graph was that since January of 2000, the level of program trading has increased, and it now accounts for over 50% of NYSE volume, and is spiking at around 70%!

In short, it seems I was right: The stock market is being gamed as large financial centers that have access to other people's money are speculating against each other, and every dime of that is coming out of somebody's hide, and it ain't them or their corrupt little buddies. It's you and me."

http://www.kitco.com/ind/Daughty/sept142004.html

[JBinKC]

Yes, I am a big market player but rarely do I daytrade and for the most part hate them however, they do provide opportunities on stocks that break out on the 1/3 retracement pullback. i.e. I was able to pick up a block of HOM at $1.50 after the volume breakout on companies that I like the valuation and fundamentals which I still hold at prices 110% higher less than 3 months later.

You can share ideas but my selections aren't based upon a one day positive news event which daytraders are seeking. You will need to exhibit some patience with my stock selections.