Daytrading with Triple Long: What can go wrong?

[Demo24]

why would people want to defeat my trade?

and how can they see my stop loss? i thoiught only ask/bid?

The big money behind the market can see your stops, perhaps not you specifically but they can see levels. I'm not sure how or why exactly.



This strategy of yours would probably work a bit better with futures contracts trading the various corresponding market futures. It's all computer trading, commissions are lower, daytrading isn't a problem, and the only thing you really need for it is enough margin to cover the requirements. You'd still probably lose your shirt.

 

[JMapleton]

CFD's allow you to trade on 10x margin.

I know that, but I'm referring to stocks (or EFTs), which is what I think the OP is referring to.

 

[Mike Gayner]

I know that, but I'm referring to stocks (or EFTs), which is what I think the OP is referring to.

Yes, but CFD's allow you to trade stocks and ETF's leveraged at 10x. Durr.

 

[Imp]

I tried day-trading last Friday, hoping to catch a 0.25% bounce. Bought too early, went down another 2%. It popped about 3% today, so I cashed the hell out. Not doing that again.

I'll stick to my multi-week/month trades.

 

[FelixDeCat]

Excessive speculation is the sure way to the poor house. Trust me. :'(

Daytrading is all about excessive speculation. The more times you roll the dice, the more likey you are to lose. And if you go all in and double down (or more) with margin, soon you will have nothing left to "play" with.

Better to focus on ACCUMULATION rather than SPECULATION. Sell covered calls and please dont use margin.

Speculation, greed and margin are the devils tools to ruin you.

 

[FelixDeCat]

Yes, but CFD's allow you to trade stocks and ETF's leveraged at 10x. Durr.

Pfft. If you want maximum leverage try 100 to 1 using options. I would make $60,000 option trades and pay $3,000 commissions to buy and sell.

Every call option "buys" you 100 shares at the strike. But this is a multiheaded dragon. Stay away from them, unless you are a seller.

Let the fools speculate, you just want to cash in and do it consistently. Consistentcy is how you make money and keep it, not just being one trade away from giving it all back.