|
PureBytes Links
Trading Reference Links
|
There has been a little talk about day trading of late. I had a few thoughts
about it.
The number one thing I dislike about day trading is the pressure. The fact
that you have only so many hours to get in and get out puts some degree of
heat on you. Also there is pressure when placing orders. You are usually in
a rush to get in and you should also place your stop order but you don't
want to put in a stop order until you are filled so you frantically watch
and wait for your fill which is usually bad. Then you are in panic mode.
Should you liquidate, wait, or put in your stop order and lose even more.
The second you put in your stop the price magically sails to it, stopping
you out for that loss.
With all this aggravation comes a monthly bill for data, news, cable etc.
etc. ranging from a $100 minimum to as much as $2000. Then you get the joys
of bad, missing or slow data. Other joys include limit moves, gaps, fast
markets, bad brokers, and computer/software problems.
If you want to day trade you need iron guts, steely will, fast wits and a
good measure of luck in my opinion.
Prosper
>Who knows... you just might persuade some of us that day-trading is really
a better way!
|