|
Pretty much, yes.
They buy tons of shares, and just take a few cents at a time profit. Many times throughout the day. Usually on margin (Sort of like credit). If they are long XYZ stock, a daytrader will be out before the end of the day.
As simple as it sounds, in practice it is extremely difficult to do. Too many people figure they're the exception to the rule, and I've seen too many people lose thousands. In 12 years? I think I know 3 or 4 people who've done it successfully.
__________________
|