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How do I day trade 100 different stocks every day?

  • 06-12-2009 3:59am
    #1
    aidan54545
    Closed Accounts Posts: 5 ✭


    Hi,

    I want to trade 100 different stocks every day. They will be day traded.

    What is the best and cheapest method of doing this?

    I would prefer to trade them on margin (10%)

    I looked at spread betting but they do not have a big enough selection of stocks.

    Any advice is must appreciated.


Comments

  • #2
    gizmo555
    Closed Accounts Posts: 2,948 ✭✭✭gizmo555


    aidan54545 wrote: »
    Hi,

    I want to trade 100 different stocks every day. They will be day traded.

    What is the best and cheapest method of doing this?.

    Spread betting is probably the cheapest way, as there is no stamp duty.
    aidan54545 wrote: »
    I looked at spread betting but they do not have a big enough selection of stocks..

    You must be looking at the wrong s.b firms - IG Index, for example, offers quotes on thousands of individual shares.
    aidan54545 wrote: »
    Any advice is must appreciated.

    My earnest advice is don't do this! It will cost a fortune on transaction charges (i.e., the spreads on the share prices you trade) and you would be doing well even to recover these, still less make a profit. The time and mental effort it would take to enter, track and exit 100 positions a day would also be huge - I don't see how it could be sustained for any length of time and costly mistakes would be inevitable.

    If you're determined to give it a shot, at least open a demo account with one of the firms and try your trading strategy with "play money" for a while.


  • #3
    Adrock-aka
    Registered Users, Registered Users 2 Posts: 267 ✭✭Adrock-aka


    Theres no point in trading more than you need to ever. The amount of trading you should do should be determined by your previous experience, how much time and money you have to invest and also what your investment/profitability goals are. There is no cheap or best way of doing it unfortunately. Spread betting would be a better way to go like gizmo suggested. This will give you exposure to hundreds of stocks.


  • #4
    merc998
    Closed Accounts Posts: 47 ✭merc998


    Theres no point in trading more than you need to ever. The amount of trading you should do should be determined by your previous experience, how much time and money you have to invest and also what your investment/profitability goals are. There is no cheap or best way of doing it unfortunately. Spread betting would be a better way to go like gizmo suggested. This will give you exposure to hundreds of stocks.


  • #5
    paulmooney
    Closed Accounts Posts: 8 ✭paulmooney


    My advice would be to start small and work your way up. Dont rush it. I do spread betting myself and find it very rewarding.


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