Want to maximize returns with smallest uptick with smallest amount of capital and smallest amount of trades.
Also, want to do what only a small part of day trading community does. I sometimes think that what everyone else is doing (pennies 50 cents to $5) is long-term not profitable. At least, that's what I keep reading as to 90% of day traders losing money. And to not trade with the herd (even though the triple zeros require a herd in a way).
Plus, I tried a few of those 50 cent to $5 trades and results were dismal - getting late into the momentum (assuming I can find a moving stock before it's run is over), dealing with whipsaws, and never truly knowing the direction for even the next 1-2 minutes. Even my trading of basic option contracts long term is not where I want it to be.
I told myself, why fight for the 10 to 50% trades if I can focus on a 200% trade when the .0001 goes to .0002 (not to mention if it goes higher). Plus, I am not glued to the screen as much, since I have other things going on as to income/business setup. I'd feel comfortable with limit and stop orders.
Of course, I know it comes with more risk, but I thought I would just have to learn all the risks involved, establish a strategy, and go from there.
