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Oh...ok you have a B.S. in econ...you ARE a total newbie. If you think you aren't, you will soon find out just how much you do NOT know. Investing and trading are two totally different things. I have to go against the grain of the thread and say that you're merely dreaming about going from...

I focus more on my entries than my exits. The majority of my trades are intraday trades, so the less precise that my entry is, the less attractive the trade is. Focusing on entries is a lot different than worrying about entries. I don't disagree that trade management is important, but trade...

Daily profit goals cause you to look at the money in a trade as opposed to the risk-to-reward. Plus, profit goals are self-limiting, arbitrary goals. You never know what the day may offer in the last few minutes of the day -- it could be a trade that quintuples your day or month! In my...

Wow. You really said that. You do realize that markets existed before algorithms right? You do understand that markets don't exist without people on the bid and the offer...right? Okay. Good. And you really still said that? Amazing.

If by EOD you mean intraday trading systems...you're very wrong about needing to be right at least 60% of the time to win. In addition, no matter what timeframe that you trade, your profits must be sufficiently larger than your losses for you to win.

Even if it is true, what are you supposed to do with such news? Seems useless. If you're long, you have to wait until tomorrow to exit. If you're short you have to wait until tomorrow to short more or exit. Useless.

I've had this problem in the past and in some ways I still have it. The difference is that I'm pushing myself to take 5 digit (10k+ shares) positions when the liquidity is there and the risk-to-reward is favorable. My advice is that there is no secret on how to do it. You just have to do it...

I would bet you're incredibly wrong.

This is a relative statement and is only applicable to "any top trader" that you know. I know of a fair amount of guys that are very good traders that do offer at LEAST basic help and guidance to new traders. I am also a mentor and its not as easy as I initially thought it would be. Everyone has...

Meditate. I used to do it day in and day out my senior year in college (2 years ago). I stopped for awhile, but when Dr. Brett Steenbarger (http://traderfeed.blogspot.com/)visited my firm a few weeks ago, it started me thinking again about how regular meditation could improve my trading. I...

He isn't a trader -- not in terms of actual transactions anyway. He's more of an idea trader --- a consistently awful idea trader.

Great point.

.... My plans for swing trading is to "scalp" but on a much longer timeframe and across many different positions so that I'm not impatiently trading noise. "impatiently trading noise." Damn. You think that if you change timeframes your inability to patiently wait for the right time to...

Your definition of "the very nature of daytrading means..." is ridiculous. A lot of your if/then statements don't establish any cause and effect. A daytrader trades their timeframe. Moves that go on for days, weeks, and months aren't trades that a "daytrader" would be looking for, therefore...

Amateur hour(s) is/are during the middle of the day, not at the open.

Wow.

I know. Your entry and exit were the same. Both imaginary.

I absolutely trade the first ten minutes as well as the first 2 hours of the day! There are plenty of different types of opportunities.

You are clearly very new and you have very limited capital. I would suggest that you stay away from UYG unless you are day-trading it. It's not created for long-term holds. If you're going to daytrade, you need at least 25k in your account to day-trade retail. Also, don't allow your...

After talking with a trader that I highly respect, I would recommend that you look into another product to express your trade idea. I haven't researched it for myself because I'm not interested in a long-term USO hold. Apparently the manner in which the product is structured is flawed. (This...