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I have been daytrading full-time for a year and a half, and have found one thing: When it comes to short-term trading, there are lots of things to learn and lots of things to avoid. There is so much information avaialable that a beginner has quite a challenge in sorting through it and deciding exactly how to proceed.
Let's devote this thread to graciously sharing selected short-term trading ideas and strategies that have been successful for us personally and that are simple enough for a beginner to understand and use immediately to preserve capital and start making money.
May I suggest that we avoid hyping individiual stocks, brokers, software, seminars, tapes, videos, books, get-rich schemes, discussions of computers and technology, and devote our time to sharing good common-sense ways to learn trading and make a living? Discussions of technical and fundamental analysis are helpful as long as they are accompanied with actual trading strategies that can be understood and used by beginners.
For the purposes of this thread, let's avoid discussing investment styles and focus on short term trading, defined as trading positions held in excess of one hour and less than one week. There are, of course, lots of other ways to define short-term trading, but I think SOES-style trading is covered quite adequately elsewhere on S.I. and may be too high-risk for beginners anyway. And, acknowledging that long-term trading has it's place also, let me offer that the only problem with trading long term is that it takes so darn long to find out if you made a profit or not.
Okay, who's got a good, simple, proven, respected short-term trading strategy for serious beginners?
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