New to the forum- general question

[Stoney_21]

Hello all- i am new to trading and havent started yet, but have been doing a lot of research. I was curious to find out what strategies you implement when it comes to chosing stocks to day trade. I did a few simple day trades using ETFs for practice but am a little nervous to start with stocks. Im allocating just a couple thousand to start off with since i dont want to lose too much. So with regard to chosing the stocks are there specific websites you reference for news and updates before the market opens, do you look at the premarket movers and then jump in on a rising stock..curious to get some feedback, thanks so much for your help!

Stoney

 

[timsk]

Hi Stoney,
Welcome to T2W.

If you've not yet seen it, have a gander at this FAQ: Essentials of Stocks.

There are any number of ways to day trade, ranging from a scalper in and out in a matter of seconds or a few minutes, to an intra-day trend trader who aims to ride the bulk of the day's move. Given that you're new to trading and starting from a small capital base, I'd recommend strongly that you focus on the latter. Presumably, you'll be spread betting so, to help minimise the impact of the wider spreads, you need to stay in trades for as long as possible and keep the numbers down. Trading in volume where you're making / losing a little will generate substantial costs that will be difficult to overcome. If you want stocks that move a long way in a short space of time, I suggest you look at the U.S. I've not traded stocks for some years now - and never traded U.K. ones - so my finger isn't on the pulse. That said, I suspect you'll struggle to swing trade U.K. stocks intra-day. With the above in mind, check out this thread and pick the brains of its active subscribers: How To Make Money Trading The Markets.

Enjoy!
Tim.