Morning all, and Thanks PJ, Aski..,HLL great work!My Day Trading...

Morning all, and Thanks PJ, Aski..,HLL great work!

My Day Trading TIPS for today:

The definition of Day Trading - It's All In A Day's Work!

When you take up Day Trading, The rules that may have helped you pick good stocks or commodities over the years will no longer apply. This is a different ball game with different rules.

The definition of Day Trading is that Day Traders hold their securities for only one day. They Close out their positions at the end and then start all over again the next day. By contrast, Swing Traders hold securities for days and sometimes even months, whereas Investors sometimes hold for years.

The short term nature of the day trading reduces some risks, because there's no chance of something happening overnight to cause big losses. Meanwhile, many investors have gone to bed, thinking their position is in great shape, then woke up to find that the company has announced terrible earnings or that its CEO is being indicted on fraud charges.

But there's a flip side (there's always a flip side isn't there?):

The Day Traders choice of securities and positions has to work out in a day, or it's gone. There's no tomorrow for any specific position. Meanwhile, the Swing Trader or The Investor has the luxury of time,
as it sometimes takes a while for a position to work out the way your research shows it should. In the long run, markets are efficient, and prices reflect all information about a securitiy. Unfortunately, it can take a few days of short runs for this efficiency to kick in.

Day Traders are speculators working in zero-sum markets one day at a time. That makes the dynamics different from other types of financial activities you may have been involved in.

Hope this help lighten up everyone day!