Day traders' weekend lounge March 25 - 27, page-30

Good morning @deanmac

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.