Quote:
Originally Posted by N55
I did say at the end that you can lose big too...
When I day trade I only look for a $.10 to $.15 gain. I use a 3 Day RSI indicator, 6 day RSI Indicator and, a 14 day RSI indicator.
For example with $100k and a $20/share security (That is high volume and volatility) You need a stock that has 10¢ or more swings in under 10 minutes.
You buy 5000 shares of company xyz @ $20.00/share. Set a limit sell order for $20.10 and a stop loss at $19.80 (Varies case by case**) You wait seconds to minutes for it to gain $.10 ($20.10), you pocket the $500 gain (Minus commissions).
Rinse and repeat. Now you will lose a few times from your stop losses. I minimize this from using the 3 indicators.
Say you made 11 trades today, you were able to get the $.10 gain 8/11 times. That's +$4000, but you lost on 3/11 trades -$1500. You netted $2500 today. (Minus commissions of course, and assuming you were continuously able to purchase 5000 shares after the few losses (have extra money in the account but only trade with $100k))
Look at it how you want though. I do have days where I am in the hole for $2k within the first few trades, I get discouraged and call it a day early on those days and take a breather, because emotions can really screw you.
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Just shut up. You are so full of shit. Anyone with any finance experience knows the crap you're throwing out is utter hypothetical garbage. You're the idiot that runs math on potential trades after the stock has moved and says, "Look how much you can make!"
Math and executing the trades BEFORE the stock moves are two different things. If you're legit, you should spend 100% of your time implementing your strategy and you'll be a multi billionaire in no time.