You answered that
I kidded around about it, but did not answer it. Mike, this is going to be an interesting experiment. I have never tried to "Day Trade", and this is what, basically, I will be doing for a while. I am working with the following assumptions.
1) We are in a level to down market for the next few months, at least. I really think down, but have no idea of the bottom, except that we are not there yet, IMO.
2) If I trade in large enough multiples, 2k to 3K shares at a time, I can then take a very small bite, 50 to 75 cents a share, and still make enough money to make it worth while doing. I will take a position each morning that I feel is right, or stay out if not sure. Then I will place an order to cover my position, and walk away from it. If I cover, fine. If not, sell out at a loss or hold a day. The major factor here is not to hold on to a losing position.
3) I really think doing this is an art, not a science. You have to have a feel for the market. You either have it or you don't. If it turns out that I don't, well, back to the 7-11!! |
