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What stocks to trade?
Hi everyone. I have been trading for 1 year at a prop firm in Atlanta GA. Our office focuses on trading energy as a sector. For example I trade HES, COP while using the XLE, OIH and Crude futures as leading indicators. This style of trading worked for a few months but lately (the past 3-4 months) it has been falling apart and now crude prices have been sliding while the energy stocks themselves have been much slower to move down. Long story short I want to move away from energy. All I've been taught up until now was energy sector related. What other stocks or sectors are good for beginner daytraders like me?
Traders at my firm like stocks with 1-3 million shares traded daily, second or third tier stocks. But most books I read tell me to focus on the leaders with high volume. Any advice on criteria you guys use to choose good stocks to daytrade.
Thank you very much guys!
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