timratliff1

It is certainly doable to make a consistent income day trading but most can't do it because they don't trade a proven methodology, have the wrong expectations, and don't have the proper trading psychology. The pro day traders that I know set achievable daily goals, hit those goals, and then stop trading. A big part of being consistently profitable is stopping when you're ahead. Most retail traders won't do that and end up giving it all back and then some. To see how a pro day trader actually trades, check out the head trader at eminmoney.

I'd just close them out and bag that profit. You will experience a small amount of time decay the longer you keep this hedged position open. Congrats on the 24 pointer!

I don't think that HFT's are bad for the markets so long as they play by the same rules we retail traders play by. More volume = more liquidity which is good for the day trader. However, I have heard some complaints that HFT's can place "feeler" orders and quickly remove them to slightly manipulate small market movements. If they execute the same orders the rest of us do, then welcome to the party. HFT's did not cause the flash crash, but algos did. A flash pop is just as likely as a flash crash, but no one would complain about a +1,000 pt move in the Dow regrdless as to whether it was value based or not. Market behavior continually evolves. Just use good money management techniques and you'll do fine regardless as to the new players and the tactics they employ.