New To Daytrading

Any advice what to look for? what days to trade? what are some of the main stocks that people are trading right now
Thank you

Hello NY 2050,

I started with stocks in 99' moved to stock options 00-02, and have been trading the S&P emini, Russell 2k emini and SPY (S&P spyders) options only since Jan 2002. S&P Eminis are...

E-mini futures trading is ideal for traders who are looking to capture gains in direct proportion with movements in the indexes they are tracking. E-mini S&P is short for Electronic Mini S&P. The e-mini futures are futures that are traded electronically on the Chicago Mercantile Exchange and are based on the S & P 500 index. Unlike normal S&P futures contracts, which have a point value of $250, the e-mini contract has a point value of $50. E-minis move virtually point for point with their corresponding index.

Like options, E-minis expire on certain months. Futures contracts on markets like the S&P 500 (ES) and Russell 2000 (TF), expire every 3 months (March, June, September, December). It expires on the second Thursday in each of those months. Besides the expiration month a future contract trades the same way as a stock with a bid/ask, good liquidity and relatively tight spreads. Being that our E-mini trading is strictly intraday, we are not concerned with any contract delivery issues that arise due to holding futures into the expiration.

What are the advantages of trading the E-minis?

*Totally electronic system, translating into efficient fills and fast executions
*Advantage of both up and down markets with no “uptick” rule for selling contracts
*Leverage like options with a carrying premium almost nonexistent compared with options
*Good liquidity
*Focus on a few key charts as opposed to many individual stock charts
*Excellent profit potential
*Relatively inexpensive commission rates charge on a “round turn” basis instead of “in and out”
*Small amount of startup capital is needed to trade for a living. Some brokers will open an account for you with as little as $2000.00
*mimics the index

There is very seldom a day that I don't trade unless I am on vacation or sick. I am a daytrader. IMHO its the best way to trade

Ohh I rambled...to answer your question I don't know which stocks are good maybe SPY, QQQQ and AAPL are ones I hear a-lot.

once a stock start falling and never reached you sell point how fast should I get out?

The sooner you realize your on the wrong side the better. But you have to have some wiggle room...its imposable to tell you how much because of all the different styles in trading and volatility and such like. You should paper trade until you know how to buy and sell and short and cover. Then Start with a small amount like 50-100 shares and don't add until your making money often. Market Profile will also help a-lot...get mind over markets by James Dalton.