Trading Question

[disciplinedmoney]

Hey everyone, sorry if this has been posted before.

Everyone trades differently for consistent profit. Some people monitor 5-10 different stocks for breakouts and trade only the breakouts. Some people look for gap plays to trade.

I was wondering if my strategy can be profitable long term and consistently.
My strategy is to trade specifically only one stock, priced at about $9, which moves on average 5% a day and has over $15million volume per day.
My strategy is to use $10k and try to catch 1-2% a day (since the stock has an average true range of about 5%) to make myself a few hundred bucks per day.

What do u guys think? Can this be profitable? are people doing this right now? and is there more profit in trading gaps and breakouts??

 

[Buddy46]

It is a lot easier said than done. I know people that make a living and are very good at jumping in and out of positions but I am not one to speculate a direction. As I'm sure you know a stocks direction can change on a dime and the only way to be successful is to be discipline and have a set of rules to trade by. The best traders know when to cut their loses as well as their gains. It can be done though...goodluck!

 

[gerryg]

Traders are testing and using any strategy occuring in their mind. Your strategy is quite simple in terms of money management, but it is known that all genial, simple.. Good luck

 

[Giovan]

sounds theoretically correct and doable. Only time and execution can tell. But meanwhile, all ze best!