My advice to all traders in your situation is to trade small, the smallest lot you can. Find a method, stick with it. Understand that it takes a lot of repetition to "get it". Backtest your strategy before committing capital. Those are the main ones that come to mind. Good Luck!
Perhaps you're joking, but I don' t agree with that statement. Day Trading isn't the "end all be all" career. I have stepped away from day trading into swing and position trading. Not because I couldn't "make it" day trading, but because it has become a time sink.
There's lots to do and...
<p>In my experience a NR7 is just a measure of volitility. Since markets follow the pattern of move-rest-move, then an NR7 is a signal that there is a higher probability that the market or stock or whatever is going to move.</p>
I find keeping it simple works only so well. My edge has a certain level of complexity. What makes it work is consistency.
I think that's probably true of any successful trader whether you're trading the trend like you mentioned or scalping.
Actually a large account does make it easier. Provided everything else is equal.
A large account allows you to trade more opportunities in more markets. A large account also insulates you against the inevitable drawdowns.
The assumption here is that your method has positive expectancy and...
I like Zanger's setups, but his trading methodolgy is suspect. My biggest problem is with his risk management technique. Arbitrarily setting 1 to 2 dollar is too simplistic.