Sunday Express Day trader

Naz

Experienced member
1,391 22
First of all lets all realise that its not easy opening up a weeks trading for all the world to see.However maybe this post might help a few people who read this article every week.

I notice that you have found a new stratergy.Trading larger amounts for a smaller time frame.Congratulations this is called scalping.I showed this to your deputy editor when he visited me at my trading desk in the city a week after you first started trading.

Next i notice that you made £1,116 profit in 2 weeks,this is good considering you paid £2,420 in trading costs.However do you realise that being based in New Orleans you might do better if you trade your home markets like i do.I totaled up how much it would cost for me to scalp the same amount of trades on the Nasdaq and my costs came out at £372.41 (based at £1= $1.45).
That would mean for exactly the same amount of success your profits would be £3163.59.

I notice you made a cock up and hit the wrong key ending up with unwanted British Airways shares.You decided to take a loss of £368 and get out quick.We all make mistakes and i'm always hitting the wrong key and buying stock on another Nasdaq level 2 screen.However i dont have any stamp duty to pay,i pay no spread so if i buy the wrong stock all its cost me is a small execution commission, this allows me the strees free feeling of saying, OK now what shall i do now,without the emotional feeling of thinking crikey i'm already in the hole for £300.
I'm more likely to get out and its cost me $20 where as you might hold on hoping to turn it around without a game plan and end up loosing a shed load more.

For people interested in Nasdaq trading therer are some interesting articles in the US section of this web site.
 
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