# Day Traders?



## alexGERMAN (Nov 27, 2009)

I was wondering how many people here do day trading? Its something I did for a few months and then got out of. I want to start a public group using teamspeak or ventrillo to communicate and share information and ideas while trading. I did this with a group back in 2008 and it was alot of fun, plus great to pick the brains of more experienced traders.


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## HaroldCrump (Jun 10, 2009)

Why did you stop? Just out of curiosity...


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## alexGERMAN (Nov 27, 2009)

I did it inbetween semesters.


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## canadianbanks (Jun 5, 2009)

I've never done day trading, however I've done a few short-term trades usually spanning 2-3 weeks. If a stock or other financial instrument goes up in value by 20-25% in few weeks it's hard to resist taking profit...


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## 1stmilliondollar (Feb 20, 2010)

I used to do a day-trading; but don't do it any more. It's very exhausted. I prefer to do swing-trading right now.


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## takingprofits (Apr 13, 2009)

I don't day trade (I swing trade or trend trade mostly) but if you want to participate in a chat during the trading day with other day traders using ventrillo the place to go would be http://stockguy22.com/chat-room/ - I have never done so myself but this is where I would go if I was so inclined.

Stockguy22 is a well respected Canadian trader trading primarily in US stocks - working with far larger numbers than most traders.


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## cannon_fodder (Apr 3, 2009)

I do swing trading on one ETF. Day trading for me is more time consuming and riskier.


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## Y&T2010 (Dec 29, 2009)

I think I'm more of a swing trader too. Day trading is too exhausting... especially if you don't have the platform for it. Refresh, refresh, refresh...I tried it for about 1 hour and thought I was going to go crazy.


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## Kirkland (Sep 15, 2009)

If you are looking for a network if day traders the best bet is an IRC network.

If you dont know what IRC is download mIRC at www.mirc.com and look for internet tutorials and google.

Once you know how to connec tto a network type

/server irc.financialchat.net

Has literally hundreds of day traders, some canadian but most american.


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## Kirkx (Dec 21, 2009)

The most popular vehicle for day traders is S&P mini futures contract (symbol ES). Much easier than trading stocks because you just focus on one instrument, there is no need to run real time scanners and decide which symbol(s) to trade. Exchange fees are cheaper than for other futures contracts, like crude oil, liquidity is not an issue, even during American overnight hours, leverage is higher than with stocks, and you don't need 6 or 8 monitors required for day trading stocks.

To trade ES you would need an account with Interactive Brokers or Lind Waldock Canada, plus a decent charting software, like NinjaTrader, SierraChart, AmiBroker, InvestorRT, just to name a few examples. "Tick charts" or "volume charts" are better than minute based bars for short term trading.

In addition to ES you could also look at forex, EURUSD has the best liquidity, USDCAD has nice trends lately as well. In Canada forex trading is offered by Interactive Brokers, MF Global, CMC Markets and Questrade.

If you decide to stick with stocks, then the trading platform used by all Canadian big bank brokers under different branding names (AxisPro from Nexa Technologies) is fast, but far from perfect because it doesn't allow entering any complex orders, like a bracket order (entry+target+stop transmitted with a single mouse click).

A good place to look at trading ideas is Technical Analysis of Stocks and Commodities magazine.


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