Best UK stocks to day-trade

[tomorton]

Which are your best UK stocks for day-trading?

Why these? How did you pick them?

What would make you drop them off your watch list?

Or do you day-trade forex / commodities / indices / other?

 

[barjon]

Which are your best UK stocks for day-trading?

Why these? How did you pick them?

What would make you drop them off your watch list?

Or do you day-trade forex / commodities / indices / other?

Sure I'm not going to tell you anything new here, Tomo, but if you're going to day trade them then:

1. Don't pick shares that get a lot of their movement from opening gaps. Shares like HSBC are heavily influenced by what's happening overnight (they derive most of their earnings outside U.K.) as are oil shares that reflect what's been happening to the oil price overnight. Things like that.

2. Do pick shares that move smoothly in the style of your trading. E.g.: if you trade breakouts don't pick those that have a high incidence of failed breakouts. Trouble is they don't display the same characteristics forever and a day. Emg (man group) were marvellous for me some years ago (both going up and going down) with smooth retracement sand reliable retracement finishes. Then they started to go haywire with price darting about all over the place.

3. Have a flexible stable of shares and bring them in and turf them out fairly regularly.

 

[tomorton]

Thanks for this jon. Happy to admit to very little serious day-trading experience but maybe a better understanding of tactics might help.

 

[Mikehills101]

Sure I'm not going to tell you anything new here, Tomo, but if you're going to day trade them then:

1. Don't pick shares that get a lot of their movement from opening gaps. Shares like HSBC are heavily influenced by what's happening overnight (they derive most of their earnings outside U.K.) as are oil shares that reflect what's been happening to the oil price overnight. Things like that.

2. Do pick shares that move smoothly in the style of your trading. E.g.: if you trade breakouts don't pick those that have a high incidence of failed breakouts. Trouble is they don't display the same characteristics forever and a day. Emg (man group) were marvellous for me some years ago (both going up and going down) with smooth retracement sand reliable retracement finishes. Then they started to go haywire with price darting about all over the place.

3. Have a flexible stable of shares and bring them in and turf them out fairly regularly.

This is very informative idea. A thought to ponder.

 

[morbo]

Sure I'm not going to tell you anything new here, Tomo, but if you're going to day trade them then:

1. Don't pick shares that get a lot of their movement from opening gaps. Shares like HSBC are heavily influenced by what's happening overnight (they derive most of their earnings outside U.K.) as are oil shares that reflect what's been happening to the oil price overnight. Things like that.

Since it's day trading. Won't the gap from over-night movement actually becomes an advantage? Day traders profit from the price bounce back and forth between Sup/Res and the imbalance of information that each participant could access, right?
It also eliminates the possibility of getting caught by the overnight price action by not holding any position. In my opinion, that should be treated as an edge.

 

[tomorton]

I hear what you're saying morbo.

To me, its the height of irony that day-traders of all people in the world say they don't like to gamble on over-night gaps.