Hi everyone, im new to MoneyAM so I just wanted to say hello and discuss a few aspects of daytrading with anyone who can be bothered. I've read some of the threads and picked up on a few things. Anyway, here goes >> I graduated with a business/finance degree in summer 02, itching to get into the stock market. I finally opened an ISA account just before the tax deadline in April'03 and havent looked back since. Im loving the thrill of buying and selling shares, though I dont day-trade. I have to say, the concept of daytrading has got me intrigued. I am however asking myself why people on this board say that ones first experiences of daytrading will inevitably be loss-making. Since starting to trade in mid-april Ive made 10 deals on a handful of FTSE100 companies i like, and feel pretty happy with my 26% profit. Sometimes I buy and sell on the same day, ranging to once holding a stock for three weeks. The average holding time is 7 days. So should I just take from this that daytrading is much more difficult than longer-term trading? Are the rewards that much greater? I have a few questions, if anyone can answer some it would be great.

How reliant is daytrading on technical analysis and how much is gut feeling? I use Reuters 3000 Xtra at work, do you guys get more / less information than i do?

Do you trade blue-chips or small-cap?

How much % change in share price do you typically need to break into profit?
With the typical size of my trades I need 1.35%.

Im assuming you need to identify a few volatile stocks, buy them near day-lo and sell near day-hi. Whats your success ratio and how close do you typically get to the actual day-los and his?

This one sounds silly, so forgive the ignorance, but do you always close a position on the same day you open it? Wouldnt be daytrading otherwise ;)

And finally, how successful are you at being 'detached' from your investments? The moment after i sell to make a profit, i need another 'hit'. It's getting a little better (i think) though i could just be deluding myself. I dont really have the time (at work) to daytrade but i think my 'need' to trade more regularly should be fed somehow.

thanks
elchicodor

thanks for the advice