After all, the trading day is 6 1/2 hours long. Day trading doesn't have to mean holding for 30-sec to 2-min.
Alan,
My system of holding for 30 seconds, often less, has been (derisively) referred to as "scalping." Yet it works for me.
I agree with you, though, that it is possible that if I learned how to effect a longer term day trade I might improve my profits. However, that will take a time and different work circumstances. Meanwhile, I'm not inclined to scrap a method that is profitable.
funk is one of those folks who could be successful day trading by phoning in orders
I am as well. While I often wonder MB or ABWatley would change my views, I've come to rely on a system where the phone broker works with me by (1) affirming quote data (internet data sometimes goes awry), (2) readying entry orders, (3) readying exit orders, (4) calling to the MM to fix problems, etc. Even so, I'd be the first to admit that there may be a better way (and, hopefully, I will stumble upon it one day).
Best,
Gary Korn
|
