earsha

In my opinion, it is very possible to get your 1.5 to 2 percent per day. The variable is all in your ability to find the right stocks, get the right entry, manage the trade with a balance of fear and greed (risk to reward), and finish with a timely exit. I have made more than 2 percent in a day before, but I am not yet consistent. I have also had a profit and let it drift away, greed making me think it would come back. I have also exited too soon, fear limiting my profits. It's all in your skill and the balance you achieve between all the variables. Bottom line, yes, it is very possible, however, you will probably not achieve that right away. I consider myself an intermediate trader as far as experience goes. I would ask that some of the more advanced traders on the board give you some input as well. I have spent a lot of time watching stocks move. There are plenty of them out there that can provide what you seek. It's all a matter of finding them and working them with finesse. My wish for both of us is that we achieve that rapidly. Earsha

Syamster, Most Probably... First hurdle is the day trading rule regarding your account balance. In order to day trade every day, you must have atleast $25,000 in your account. There are ways to do a trade every day where you buy just before close, based on specific parameters, and sell in the morning (Charline's method), thereby circumventing these rules. Of course, the big determinator is your stock picking ability. One trade - 1,000 shares of a stock that moves 60 - 80 cents with perfect entry and exit, and you're done for the day. There are many stocks that will move this much. I've watched them do it without having a position in the stock. Finding them is the secret. Of course, there are many trade combinations that will give the above results. However, most active stock movement occurs in specific, short, time frames, making it difficult to have multiple trades on at a time with limited funds. Look for stocks that have a broad daily trading range, become familiar with them, learn their habits until you can nail them. As everyone says "paper trade." And even that won't prepare you for reality. There are many lessons in reality. I am trading for a living and have not reached my goal yet. I have learned many lessons. Let me know how you do. Earsha

thankyou soultrader, also i seen your "Pivot Points Calculating methode", very impressive, most of your posts are informative, make this forum a nice one for newbies...thanks again... Earsha

Johalber, General info on assignment from Fidelity indicates that they will automatically assign if the price is 25 cents above the strike price. This has happened to me several times- so if I want to keep the stock I usually enter an order to buy to close. Earsha

Does not matter how good the charts look. Earnings can make the chart topsy-turvy, so you should be aware of the consequences. I played MRK and NFS earnings and got lucky. Played RAI and WFC split got lucky - not always! If you can figure it out where the stock could drop after the earnings (does not matter how good the earnings, it could still drop) then you could buy OTM puts so that when the stock drops your OTM puts is in the money. Other traders can help give more information, as I don't trade this way. Earsha

Pierre, A "Pivot Point" is a Technical Analysis term. Exactly how it is arrived at, I'm not sure. Any of the sites that publish FOREX news and commentary should also publish the "Pivot Point" along with their Technical Analysis for each pair. Essentially the "Pivot Point" is the point that (according to technicals) the direction of the pair is expected to change (or pivot). There is also something called a "Daily Pivot Point". My experience is that it is a good idea to be aware of technicals and fundamentals. But I would not trade based upon technical analysis and certainly not on any person's analysis other than my own. Also keep in mind that basically every level of support or resistance is a potential "Pivot Point". so for our purposes, we have already learned as much about "Pivot Points" that we need in order to trade successfully. Earsha

Whats is ATR? ATR means Average True Range, will give you some idea of how much the stock price may move in a day between the Low Of Day (LOD), and High Of Day (HOD). If the charts are right as the price is coming up off LOD (or some intraday support near it), you`ll have an idea of how much profit potential there is in trading it to HOD (or some intraday resistance near it). Pivot Points? Pivot points are yet another useful tool that can be added to any trader's toolbox. Here, "S" represents the support levels, "R" the resistance levels and "PP" the pivot point. Daily Pivot Points will give you intraday supports below the Pivot Point, and intraday resistances above the Pivot Point. These change daily. The Pivot Point represents "neutral" price. If the price drops below PP, then the bias (tendency) will be for the price to drop further. If the price rises above, then the bias (tendency) will be for the price to rise further. In otherwords, the lowest risk for long trades is entering when the trend is turning up off of the PP, or moving up thru R1 towards R2. The lowest risk for shorts is to enter when the trend is turning down from PP, or moving down thru S1 towards S2. Earsha