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Mug`s game. Tiny movements in ultra short time horizon entry/ exit means only option is to use margin to make any decent returns and large capital outlays = huge risk. Candlesticks on a 1 min chart?? Dont be ridiculous. It is gambling on borrowed money. Not investing. Take up betting on horse racing; I understand some gamblers have "systems" but you only ever hear about a gambler`s winnings. they never talk about all of their losses.
if you`re minded to do this because of YouTube channels those so-called experts are monetising their channel not making money day trading. They are mining the miners.
The Klondike gold rush. People came from all over the world to Dawson. By the time most got there at huge risk, all of the gold fields had been taken months before. Those miners that stayed, mined the miners - establishing supply stores etc.
That is exactly the same as what those YouTubers are doing. if day trading was so lucrative wtf aren't they doing it instead of posting video content on line. Duhh I wonder....
S
Not good guys, interesting to see how market reacts. Everyday a school day, GLA.
Good post Robbie, I've been doing a small amount of day trading but mostly averaging down here. Average now at 169 so at long last back in profit. Going forward may play with 10% to day trade. If I sell out some and then price rises, I either wait for opportunity for dip again or buy in to another stock that has a bigger % drop over a day or two. Either way also a bit of luck, I've often got it wrong. Hopefully more right than wrong. Good luck today!
I've messed up a bit 'day trading' this year to be honest, but a lot going on in my personal life and I've struggled to concentrate at times!!
But, I'm out fully now and as they say, with gun powder (not lots at my level).
As above (TP69), there will always be volatility, always has been. There will always be ranges, sub ranges within a larger range.
Not always easy to predict a range right now as it can change rapidly within days!
Something that worked for myself a while back and maybe time to get back into that scheme, is to wait for the markets to drop over three continuous days, not individual companies, but the whole market (FTSE) dropping and then find an entry point.
Just my thoughts and I often get it wrong, but I'm not greedy and if I can pinch a little out of a range, I'm usually happy.
Still a lot of upside within this sector, that's for sure.
GLA, be lucky.
This is my 3rd post having only recently entered into the fray of trading shares online. About 4 weeks ago a maturing cash ISA for 20K yielded a pathetic level of interest so decided to 'have some fun' inside a Stocks & Shares ISA with the same amount. I am an aviation 'anorak' and have always had a soft spot for IAG. My strategy was to invest medium/long term in a solid company whose shares would without doubt start to fly once air travel opened up. IAG are just too large to fail.
So I invested 10K around 1.50 and within a few days saw a gain of around £1.5K so against all my original plans ...I sold. A few days later the SP dipped back so I invested the 10K again and to my amazement the SP rose once again....and yes you guessed it ....I sold again with another gain of £1.2K. Beginning of the week I did the same at 1.68 and swore to myself that I would not sell until mid summer . Yesterday I resisted selling at 1.90 but this afternoon I yielded to temptation.... and sold at 1.90. Another gain of around £1.3K. I am now waiting to invest again once a suitable entry point presents itself but at what & when that will be I just do not know ! Whatever I decide I am 150% confident (IMHO) that by mid summer the shares will have increased substantially in value. The £4K made on the recent trades was more as a result of gut feeling and luck rather than any real knowledge of company value etc. Had the SP on the first trade dropped I would have waited till summer for any profit-taking. I am a rank amateur at all this but hope my thoughts resonate with others out there
Big-blue and Trading Places I enjoy your posts which make plenty of sense to me (IMHO) Good luck to you both & all other PIs no matter what your strategies !!
Thanks for the info hkt
Someone must be making money on the likes of IAG
I tried something on M&S, bought them sold, then bought in when it was lower again, sold out last week at 1.43, was hoping to buy in again, but it’s gone up
Don't try day trading until you've learnt the game. I know nothing yet, for me to attempt it. Short to medium swings - yes. Daytrading- no.
RobbyW is our resident day trader. Knows his onions. Hopefully he'll post on here soon. Good guy. Listen to him.
DaggerMal
I'm stealing that. Good quote.
DaggerMal
Hi Wizard,
relatively new to this myself and I also struggled with what TradingPlaces mentions - I got too attached to companies. I was basically trading based on company fundamentals which is important, but realized technical analysis (at first i thought it was a load of bo*l*cks) is also very important for daily trading. There's a number of books and online sources where you can do research on charts and understanding the psychology of trading - it helped me.
Gain as much experience as you can.....
Before you run out of money.
When a man with money meets a man with experience...
Very soon the man with the experience has the money,
and the man that had the money has some experience.
Anon.
Any idea best way to learn day trading
IF you call it right, have balls of steel, absolutely no attachment to the company and see it only as an instrument to make money.
Sounds easy, but a short read over at the Rolls BB will show you how attached guys are to the company, cache and brand.
No attachment does not mean non researched and you can still be locked in. Just ask our Robby.
I have made more on my day (which some have become week and often fortnight) trades than I did holding my initial chunk which I sold, thankfully at a profit.
Personally, I believe after a crazy tomorrow and horse trading next week, this share will stabilise into a kept North projectory.
That doesn't mean that swings wont happen, but I believe they will settle and even out. Taking a lot of volatility out, the very thing day traders seek in shares.
Anyway, whatever you decide, always keep some dry powder and the best of luck to you pal.
Finally, we can all take a peek into IAGs Pandora's box tomorrow. (Oh Er) I, like all of us, will be watching closely.
I'm thinking of dislocating my thumb, wait it out and wait for my re entry.
Good luck to everyone, holders and those looking to get back in.
you can also loose a lot!
As soon as I'm in a position to i will start day trading ive always tried long term holding but I've realised you can make alot more money day trading