Thank you for your post I am thinking as you are, that there must be numerous different ways of trading, some will suit, some will not.
I had a post from a lovely guy a while back, who has now retired. From memory. He traded from 7am until 8.30 am. I am assuming this is WA timezone. From Mon-Thurs only.
He was purely a day trader. Never held overnight. He would trade 4 or 5 shares. His aim was to protect his capital, so if he saw a lower bid coming in he would cut and run.
He was extremely strict. If a share increased to 15% he would sell. If it dropped (not sure how this fits in with watching for a lower bid tbh?) He would be out if it reached -8%.
This worked tremendously well for him. I did a rough calculation based on a fictitious starting figure of just $10k. The results were absolutely staggering!
What I liked about this was the ability to close the computer at 8.30am. I spend endless hours on mine, because there is so much to learn. But later on this year I will not have so much time. The mistakes which I have made are tragic really, but all learning incurs a cost.
I am looking forward to reading of your experiences. And from any others who can spare some time to post.
