Know a few day traders, they don't do the speccies though.
They suggest that DTing the art of turning $100 into $102 not $1 into $1.20. 2% v 20%, to make 20% you must entertain risk 2% can be won through process.
They all believe frequency of trade is their advantage but risk their enemy, they don't think about the effect of one trade but the effect of an accumulation of trades, they suggest certainty of outcome is the most important component of any trade as only then can they achieve acceptable return over time.
They all talk about the daily pattern of money flow into and out of the market eg DOW up, ASX on open up, 10.15am selling, 10.30 buying reestablished , volume identified strong pm etc, they believe there are a few basic patterns that repeat.
Don't DT myself, too lazy and busy doing other stuff and to be honest probably wouldn't be that good at it, especially speccies, but do visit the DT forum for codes and trends, you guys are good at latching on to trends early, the DRO's of the bourse etc.
