What are the types of daytraders?

[brownsfan019]

In this thread, http://www.traderslaboratory.com/for...ults-1869.html - I talk about taking 1.25 pts or 5 ticks out of the ES with regularity.

My question here is - what are the types of daytraders? I've often referred to myself as a daytrader, but that can mean many different things.

I think there's 3 distinct types of daytraders (those that only trade during RTH and hold no positions overnight):

1) Daytrader - takes a handful of trades during the day.

2) Scalper - takes more trades during the day, looking for smaller moves and many of them. Trades are in the ballpark of 100 trades per day.

3) Hyper-Scalper - this is the black box or trader that is basically taking 1-2 ticks all day. Trades are in the hundreds per day.

I posted this in the futures forum b/c that's all I trade and all I'm interested in for purposes of this discussion.

So what do you think, are there other types of daytraders? Would you add/delete to my list?

The only purpose behind this for me at least is to figure out what kind of trader I was, am and will become. It's nothing more than just classifying yourself as a type of daytrader. I'm just wondering what I should say if another trader asks what kind of trader I am.

[TinGull]

I think those are good classifications. I'm definitely a day trader. I like 1-2 trades a day. Anything more and I really start to feel frazzled and overextended.

[walterw]

Brown, your clasification is about how many trades the trader takes, It obviously discounts the target of each trade...

You can have diferent combinations there : 3-4 trades with small targets could be scalper but 3-4 trades with large targets.... could be daytrader...

So kind of dificult to put a name to it... I asociate scalper with low targets, not necesarily large amount of trades... cheers Walter.

[cooter]

	Quote:	brownsfan019
	1) Daytrader - takes a handful of trades during the day. 2) Scalper - takes more trades during the day, looking for smaller moves and many of them. Trades are in the ballpark of 100 trades per day. 3) Hyper-Scalper - this is the black box or trader that is basically taking 1-2 ticks all day. Trades are in the hundreds per day.

a. I agree with the Daytrader description. Could be one, or several trades taken during RTH.

b. Your ballpark of 100 trades per day is off for your "Scalper" label. Dozens might be more like it.

c. I'd agree with your 100+ trades in the HyperScalper genre. If you're taking 1-2 ticks all day long, then you'd definitely need as low a commission as possible here (especially for black box auto trading).

[brownsfan019]

	Quote:	cooter
	a. I agree with the Daytrader description. Could be one, or several trades taken during RTH. b. Your ballpark of 100 trades per day is off for your "Scalper" label. Dozens might be more like it. c. I'd agree with your 100+ trades in the HyperScalper genre. If you're taking 1-2 ticks all day long, then you'd definitely need as low a commission as possible here (especially for black box auto trading).

Coot - so what do you call the guy that trades more than dozens but less than hundreds? There's a gap there that needs classification.

[cooter]

Dozens is plural. One to eight dozen is under a hundred.

[brownsfan019]

	Quote:	cooter
	Dozens is plural. One to eight dozen is under a hundred.

Ok, gotcha. We agreed even though I did not clearly specify the levels.

Daytrader: 1-12 trades per day
Scalper: 13-100 trades per day
Hyper Scalper - 101+ trades per day

That's assuming you quantify the classification based on the amount of trades being done. I think that's fair criteria and sounds like walter does not. No one is right, I was just wondering what everyone thought.

[walterw]

	Quote:	brownsfan019
	Ok, gotcha. We agreed even though I did not clearly specify the levels. Daytrader: 1-12 trades per day Scalper: 13-100 trades per day Hyper Scalper - 101+ trades per day That's assuming you quantify the classification based on the amount of trades being done. I think that's fair criteria and sounds like walter does not. No one is right, I was just wondering what everyone thought.

If I make 7 small trades... I already consider myself scalper... its my case... because the span of the trade its really small I dont think I am using "daytraders" techniques at all... I deserve to be called a scalper even thought I dont make that "much" amount of trades....

[steph]

I guess I'm trying to be daytrader by these definitions, but with scalper leanings. I'm only looking for 1-4 trades the morning (it's all I have time for - some of us still have to work jobs we hate for a living), and the targets are usually fairly small (5 points on YM for instance).

[brownsfan019]

	Quote:	steph
	I guess I'm trying to be daytrader by these definitions, but with scalper leanings. I'm only looking for 1-4 trades the morning (it's all I have time for - some of us still have to work jobs we hate for a living), and the targets are usually fairly small (5 points on YM for instance).

Steph - Assuming you can work the 9:30am - Noon EST shift and going for +5 on the YM, you can crank out some major trades with the right methodology. I personally hate the YM, but I understand the attraction.

I would not rule out making some good trades and cash before you head to work. This morning yielded 29 trades for myself. That's not good or bad for you, I'm just suggesting that you don't limit your thinking and profit potential by simply saying that you only have 3 or so hours to work.