Saturday AMA 6+ Years Daytrading

Yes, most trades I make are quick. Usually I'm not holding a position for more than 10 minutes.

  1. Level 2. My eyes are locked on the level 2, with the time and sales in my peripheral. Earlier on in my trading, I noticed my eyes were locked more on the P/L, which made me miss crucial data. By keeping my focus on the level 2, I'm able to see the proof I need. The chart is used before hand to determine important price points.

  2. Most volatile stocks with good liquidity. Typically lower institutional percentage, and an easy to read tape. Tape is something that's trained, similar to driving a car or learning to read a book.

  3. Sometimes. I'll quickly scan the news, but pay more attention to the filings to see if the company shows evidence of needing cash.

/r/stocks Thread Parent