|
PureBytes Links
Trading Reference Links
|
Have been daytrading for a little while now.
I see the positive and negatives of the profession.
On the negative side...it is tedious to be watching and waiting for just 1
position to move properly in order to gain just 1/4 of a point.
I have been thinking about using the daytrading system to make strategic
longer-term positoin trading decisions. For instance....let's I want to
buy EMC becuase it has great Relative Strength. Well....I will find an
intraday opportunity to buy it on a pullback or just before a big momentum
move. Then, I will hold at least until the end of the day or
longer....rather than worrrying about watching to see if I lose 1/4 or 1/2
point etc...
In other words...buy good relative strength stocks and just maximize my
optimal entry time period and exit period using the daytrading system.
Theoretically it sounds like a much easier life and game....will I get
killed and whacked enromously?
What do people think?
Any suggestions on how best to make this strategy work?
|