Quote:
Originally Posted by lewdog
Nope, just trying to educate you. Trading isn’t about knowing everything. It’s about having a system where you only need to be correct 50% of the time to make money. And it surly isn’t guessing or buying stocks in a down trend.
I’m sorry you won’t listen to any advice that’s trying to help you.
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The "good traders" will tell you that you only need to be right 33% of the time. I call bullshit unless you are seriously funded to be able to scale in and out of several positions.
Day trading or swing trading stocks is tough because you have several factors to consider:
Screen the stocks
How is the overall market in relation to the stock
How is the overall sector in relation to the overall market
How is the overall sector in relation to the stock
Analyst "Recommendations" that move a stock quickly one way or the other
That's why I don't do it anymore. Finding the stocks is a pain and time consuming. If I do dabble in it I try to do it with a buy-write call spread or something.
I'd rather focus on the overall market, e.g. SPY, QQQ, etc.