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Intraday Trading... Guts and Timing In The Market
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Intraday Trading... Guts and Timing In The Market
Day Traders Conduct Intraday Trading
Intraday is really a made up word by
those so-called experts who lump all online traders into the bag of
day trading. For the sophisticated observer it is plain to see the
obvious differences. A day trader rides the rush of the asset, while
a swing trader diagnosis the trends and holds onto it as long as the
momentum last. When I think of the term intraday, I picture someone
who is closing their trades literally seconds after they have opened
them. The SEC has no definition per say, and their web site will
simply refer you to day trading.
In their own words...Day traders rapidly buy and sell stocks
throughout the day in the hope that their stocks will continue
climbing or falling in value for the seconds to minutes they own the
stock, allowing them to lock in quick profits. Day trading is
extremely risky and can result in substantial financial losses in a
very short period of time. If you are a day trader, or are thinking
about day trading, read our publication, Day Trading: Your Dollars
at Risk. We also have warnings and tips about online trading and day
trading.
Under the rules of NYSE and the Financial Industry Regulatory
Authority (FINRA), customers who are deemed "pattern day traders"
must have at least $25,000 in their accounts and can only trade in
margin accounts.
I had to go to an Investment Dictionary
In their own words...Another way of saying "within the day.”
Intraday price movements are particularly important to short-term
traders looking to make many trades over the course of a single
trading session. The term intraday is occasionally used to describe
securities that trade on the markets during regular business hours,
such as stocks and ETFs, as opposed to mutual funds, which must be
bought from a dealer.
I don’t know if the term “day trading” ever existed before we had
access to the internet. If it did, I some how would picture a broker
becoming a bit frazzled, trying to keep up with this mad client who
is buying and selling at the speed of light. Because this, is the
life of the day trader. They do not care about fundamentals or even
for that matter what the company does. They are riding the trend, up
or down it doesn’t matter, as long as the asset is behaving the way
they have projected it would. Day traders don’t care what markets
they are in, be it stocks, options, currencies, or futures, they get
in and out with a fast profit. A transaction may last a few minutes,
an hour or so, but never more than that day.
Swing Trading Offers Less Stress
knowledge and training Lead to greater Profits
Let us determine even if day trading is what you are actually trying
to research. The first thing you must realize is day trading cannot
be pursued on a part time basis. If you can’t commit or don’t have
the time to pursue this strategy properly, I suggest you look into
swing trading. These types of trades are ones that last longer than
a day and can run a course of up to a few weeks, as an average.
Swing trading can be a part time effort. Make no mistake however, in
both strategies as with anything connected with investments, you had
better be knowledgeable. Always have an exit plan or stop loss in
place and it is essential that you have an excellent technical
charting platform.
Let us assume that you have some knowledge or you wouldn’t be
researching the market. Any training you receive should be for
technical analysis, or you are just wasting time and money. As far
as software platforms, the following suggestions I strongly feel are
necessary for any software to be useful. |
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1. It must be able to offer live streaming technical data.
(Otherwise the program is merely educational)
2. The platform should defiantly include candlestick
charting.
3. Visually it has to be large enough for all the data to be
seen easily. (Many of the online brokerage’s technical data
are too small to be useful)
4. It must be cost effective. (Most good systems can be
purchased for between one and two hundred dollars)
Let the Candles Light Your Way
Include Candlestick Charting for Even Greater Profits
For those of you not yet familiar with candlestick charting,
I will try to give a brief but accurate explanation. The
Chinese invented the market concept, and the Japanese
perfected charting techniques with the use of the
candlesticks. It is easy to understand this complex system,
if we simply break it down to the ticks on the chart you
follow every day. We know that the lower tick is where the
stock opened and the higher is where it closed. Now if we
made the two lines parallel and connected them, what would
we have? A candle. However, during that movement, the stock
might have gone lower or higher then where it opened or
closed, So our candle has formed a tail and a wick. Is it
starting to make a little sense to you? Can you see the
advantage of knowing this information, for getting in and
out, and setting a stop loss?
I don’t profess to being an expert, but I do know of some. I
obviously don’t have the time to go into all the details
now, but at my site Market Mentalist you will find all you
need to know about investing online. There is access to some
of the top trading systems available including software,
books, newsletters, and Forums. Whether you are an
inquisitive novice or a seasoned pro Market Mentalist offers
the online investment resource you just might be seeking. |
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