Australian (ASX) Stock Market Forum

Good stocks to day trade?

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i do NOT participate in that style of trading

however i am aware in the past some traded ILU with success ( on the intra-day swings ) i also remember a trader trading NAB ( but with a BIG budget to play with )

the difficult mix is percentage price moves , liquidity ( you are going to have problems if only $2K of stock normally trades each day ) and the erosion of brokerage and capital gains tax on your winnings

please be careful
 
jeromejf said:
Hi there :)

I have been trading stocks for a while ...but looking to get more active into day trading midcap or smaller stocks ($4 to$12).

What stocks would you suggest i put on my trading list ?
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Welcome @jeromejf to our friendly ASF community.

Good luck trying to swing trade stocks day trading (odd times I've tried turns out at sometimes becoming short term trading if not longer term lol haha).

Guess knowing very well how a particular stock behaves in understanding it's regular trading range (support & resistance levels etc. along with it's fundamentals & market depth dynamics at play) will help you with endeavouring to day trade successfully.

Picking volatile swing stocks with plenty of liquidity is the way I'd go if tackling day trading (though prefer short term trading myself). Perhaps a good idea to use stop losses in the event of any negative news flow occurring. Never know what curve ball the market throws at us at any given moment/time.

Cheers tela :)
 
I short term trade anything I can find with momentum.
From intra day to few weeks

Finding momentum combined with liquidity is your challenge

I also trade Index Futures here you get liquidity and at times fantastic momentum.

Both very different.

The trick is for me at least is recognising weakness and acting on it quick enough to maximise as much profit as possible

One of the guys here through up a stock last week 4DS which filled my criteria
Have been both in and out

Often early movement can herald huge moves as it did in this case
You do get them all but when you do even small positions can give great yeild

You need to be very good in technical trading.
For me over 30 years
A lot here so search them out
Pete 2 is also well worth a look at his threads
Many others have nuggets
Just pick them up’

Lastly you must be decisive in and out!
Let us know how you go
 
@jeromejf welcome to ASF. There's plenty of ways to day trade or swing trade over a few days. However it's a very tough skill to master. You'll have to specialise in a few price patterns and be extremely disciplined with your entries and exits.

How about posting a chart that shows exactly what you'd like to trade in the future. This will give us a little more info to enable us to provide more specific suggestions for you to consider.

I day trade US securities as the liquidity is much better. My favs are TQQQ, SOXL, XLE and a stocks that are in the news on the day.

Edit: I should also include that it's much, much easier to trade both long and short in the US market. In the ASX you have to use CFDs to short ASX securities.
 
“Stocks in the news on the day “

NUGGET

“Patterns”

NUGGET

—————————-

Also look at Volume increases
Alter timeframes once in your trade to recognise patterns , volume that indicate weakness or strength you need to be able to read both in a trade
I use 5 and 15 min

I’m not adverse to double a trade size if I see a move building to pop while I’m in a trade

In a trade like 4DS a gap of 50-100% is often going to breakdown as quick as it came

Has currently pulled up at 11c maybe worth a look chart wise
Not near my computer. Sorry

If you have a live feed showing trades you can also get a lot from the trades going through at the hard right edge
Size and number both in and out !

Find here some on Trembling Hands Posts he was very good at that .
Takes many hours to get it .
 
Hi Jerome….

I have 21 assorted Excel based Calculators that may interest you.
One is a Swing Trading (ABC Chart Patterns)…

If you are interested, have a look at the "DrB General Help for Beginners" Forum in the Beginners Room….

Go to Page 2, Post Nr 39 dated 21/11/21, then look for the Two Calculators at Nr 9….

Each one has Comment Box Instructions that are easy to follow….

If interested you would need to Direct Message me with an email address….

I will send the lot (21) on one return email, then you can just delete the ones you don’t want….

Cheers….

DrB.
 
@jeromejf You mentioned stocks between $4 - $12, so I'm thinking that you're hoping to get about 0.20 out of stocks in this range. To get 0.20 you need at least 0.40 of movement in a day (low to high). This is 10% of a $4 stocks and 3.3% of a $12 stock.

I've just scanned the ASX for stocks trading > $1M/day (liquidity) and with an average range > 5% / day.

There were very few (only 8) that met this criteria. Looking at the charts shows that most of them triggered the range parameter only because they reported news and had a shocking selloff after the news. Impossible to trade any of these as a day trade long opportunity.

It's very tough to day trade the ASX, but I know it can be done. You may have to look at larger price stocks (need more capital) or look at holding the trades for longer than a day or look at the smaller priced stocks that are pumped and dumped quickly.
 
There is an Old Saying but a Goodie

Bulls Make Money
Bears Make Money

Pigs Get Slaughtered

What they refer to here is that Day-Traders are the PIGS
The first step I would do is to Check out if any Day-trader has ever survived 30 days

Good Luck
I think we would all be very interested in your research

Salute and Gods' Speed
XYZ Yacht.GIF
 
Captain_Chaza said:
There is an Old Saying but a Goodie

Bulls Make Money
Bears Make Money

Pigs Get Slaughtered

What they refer to here is that Day-Traders are the PIGS
The first step I would do is to Check out if any Day-trader has ever survived 30 days

Good Luck
I think we would all be very interested in your research

Salute and Gods' Speed
View attachment 161447
Click to expand...
Hi Cap'n C....
Suggest that you read the book on Day Trading - "The Stock Trader" by Tony OZ - ISBN 0 9679435 0 7"….
You may then change your opinion of Day Traders....
But on the other hand, it's prob better for people to have that opinion of us Day Traders, that way we know what they will do, so we can make money off their outdated opinions, and their predictable trading decisions.....
We know how Bulls, Bears, Shorts, etc read Charts & Balance Sheets, so we use that knowledge to top-up our Bank Balances.....
It's an old "Psy 101" rule - Know your Enemy!.....
Cheers....
 
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peter2 said:
@jeromejf You mentioned stocks between $4 - $12, so I'm thinking that you're hoping to get about 0.20 out of stocks in this range. To get 0.20 you need at least 0.40 of movement in a day (low to high). This is 10% of a $4 stocks and 3.3% of a $12 stock.

I've just scanned the ASX for stocks trading > $1M/day (liquidity) and with an average range > 5% / day.

There were very few (only 8) that met this criteria. Looking at the charts shows that most of them triggered the range parameter only because they reported news and had a shocking selloff after the news. Impossible to trade any of these as a day trade long opportunity.

It's very tough to day trade the ASX, but I know it can be done. You may have to look at larger price stocks (need more capital) or look at holding the trades for longer than a day or look at the smaller priced stocks that are pumped and dumped quickly.
Click to expand...
jerome,....
as peter2 mentioned you may need to expand your range of Trading Stocks - Day Trading $100k on say CSL or BHP or some other similarly priced stock will make you more in one trade than your system will make in 12 mths..... Might be a 10 minute trade or a 2 or 3 day trade, who knows, just make sure you have all bases covered B4 you risk your Hard Earned....
Of course you need to know what you are doing - So all I can suggest is that you do a lot more Paper Trading B4 you get too involved in the ASX Sandpit....
Cheers...
DrB.
 
Traders and those interested in becoming traders, join in the discussion and take advantage of the opportunity to discuss technical analysis and trading setups with other active traders. If you have questions, please ask them.

At the very least, if you value this kind of content then like @tech/a's posts to let him know that you appreciate his contributions.
 
Joe Blow said:
Traders and those interested in becoming traders, join in the discussion and take advantage of the opportunity to discuss technical analysis and trading setups with other active traders. If you have questions, please ask them.

At the very least, if you value this kind of content then like @tech/a's posts to let him know that you appreciate his contributions.
Click to expand...
value yes , but play in his arena , no

i still hope to learn a little , so i can navigate among the BIG ( professional ) sharks and whales , more safely

remember for every buyer there must be a seller ( and vice versa ) so each must have a different agenda
 
Joe Blow said:
Traders and those interested in becoming traders, join in the discussion and take advantage of the opportunity to discuss technical analysis and trading setups with other active traders. If you have questions, please ask them.

At the very least, if you value this kind of content then like @tech/a's posts to let him know that you appreciate his contributions.
Click to expand...
Find it interesting that a topic is opened and the OP doesn’t participate.

For me at least participating in a topic encourages people who feel as though they have value to ad to post

I always leave gaps for people to
Hopefully fill in with their input. From there I’m
Looking for opinions , interpretation, and interactive discussion
In this case I’ve put up a live example I’m actually trading short term .

Others have reached out as well but no interaction so another dead rubber!
 

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