daytrading oct 17 morning

Good morning traders

Some interesting banter in the lounge last night mainly aimed at the speculative sector following on from some remarks in yesterdays morning thread session.

Some sound opinion from Gizard and definitely worth a read.

FWIW I find the speculative sector to be extremely volatile , offering the chance of big gains but also big losses , everyone looking for the next Sandfire or Sirius to make their fortune and fortunes will be made and lost.

Speculative as the name implys is High Risk / High Reward and for those that don’t understand that then be prepared to part company with your shirt.

In my opinion If you let the stars in you eyes cloud your vision and have no plan or risk management then you are doomed to failure or extremely lucky.

The nature of pure daytrading has a form of risk management inherent in it as stocks are not held overnight and not subject to shocks that can occur in overnight trade. Though still subject to intra day moves.

Many different styles of trading were discussed last night and whether its specs, contrarian, swings , scalping, short or long term then I think if you have a style that works for you keep it up. There is no one size fits all.

And finally if you would be willing to strap several fresh chickens (bought from the supermarket) to your body and dive into the shark tank at the Aquarium then you are ready for trading. But remember to swim fast , very fast! LOL

The sharks in this game wear suits and a smile.

This was not meant to scare the infirm or small children.

Check your open orders and good luck. dyor