Daytrading Stock Picking Advice

[cpatte7372]

Hi,

Following on from my original questions, can someone let me know of any good daytrading newsletters? Does esignal provide a daily newsletter providing day trading picks?

Thanks

Carlton

[FibbGann]

Did I do well? I would have to say so, to say the least! And I always adapt my trading style based on market conditions.


Esignal and newsletters for stock picks?

No they don't.

And honestly I would'nt trust anyone's newsletters anyways. You can learn on your own all the BS they will tell you and charge you for. Your looking at paying 200 to 500 a month for stock picks. That are unreliable unless you know exactly whats going on with the charts and company.

Fibbgann

[cpatte7372]

Fibgann/Linus,

Thanks for your advice. I truly appreciate it.

Cheers

Carlton

[FibbGann]

Carlton, read the book I told you about and absorb all the information you can from the website I gave you. And that will give you a definite advantage. You need to make a trading strategy plan and stick to it!!! You must trade without emotions too!!!

Fibbgann

[cpatte7372]

Thanks Fibbgann,

I'm working on my strategy.

Cheers

Carlton

[cpatte7372]

Quick question,

I'm currently reading a post on esignal where someone bought 54 shares of MHS at 32.23. Now, is it normal to buy and sell shares in such small numbers?

Thanks

Carlton

[cpatte7372]

So, you wouldn't recommend buying 100 shares of any stock for daytrading?

Carlton

[cpatte7372]

All,

I have never usesd back testing before. Is it any good? Is it worth learning to use?

Carlton

[FibbGann]

Carlton, It sounds like you have alot to learn. My suggestion would be to read alot and look at charts and volume ALOT!!!!!
This market will take your money in a New York minute, and is not for the average trader. It takes most """fultime"""" traders 5-6 years just to get a good grasp on this market!

Fibbgann

[cpatte7372]

Thanks for the advice, Fibbgann,

I read on a different newsgroup that Newbies should consider stocks that mimics the futures. It suggested that Sun Microsystems (SUNW) was a good candidate as it mimics the S&P E-Mini futures almost exactly tick by tick. Can someone let me know how that person may have arrived at that conclusion. Also, can anybody recommend any other stocks that mimc either the E-Mini Futures?

Thanks

Carlton

[FibbGann]

I would have to laugh at the one who suggested SUNW!

Fibbgann

[cpatte7372]

Fibbgann,

Please explain.

Thx

Carlton

[cpatte7372]

Hi,

I have a question how will the following help me select a stock, intraday?

Stocks that have gained 3% or more in today's trading on at least double the average trading volume of the past quarter.

Thanks

Carlton

[FibbGann]

I have no idea. I don't know anyone personally that ever used that formula for trading.

Fibbgann

[cpatte7372]

Its actually a scan criteria by a competitor. Basically, you scan stocks which fit that criteria. I was just wondering if someone used a similar scan with, say, esignal. If so, what advantages does it provide.

Thx

Carlton