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Some use a random entry method, a coin flip for example.

So you don't believe in repeating price patterns? After all, the market is just a series of squeezes on liquidity, however you look at it. This process plays out on a chart just as it does on the DOM, and both are susceptible to being 'read' incorrectly.

I don't believe successful chart traders 'read' charts, like reading tea-leaves. All markets have an inherent volatility/momentum, this is apparent on a chart, and on a DOM for that matter. A chart is somewhat random, but the successful chart trader will break it down into components and...

Probably when it's too late. Seriously though, price action and volume signature are the best measure. The balance of confirmation - not too early and not too late - all in the eye of the individual trader of course.

There are drawbacks to working alone from home ie. when you hit a bad patch - nobody to go through your losses with you and maybe shed some light on the situation. The ideal solution would be to jump back on the sim and try to regain some confidence - but then who's earning the $$$? Helps...

Most fail to recognise or understand the magnitude of what they are undertaking. Its easy to open an account and place an order. To become a professional day trader takes a lot of practice - the right kind of practice.

undercapitalised? Is that the same as oversizing? I'm sure it is - anyway, both are extremely problematic.

Best to create an organised but simplistic structure within your mind. profitable trading is about simple systematic application over and over. Remember - Logical overview - simplistic systematic application.

Thankyou for your detailed response. I would like to expand further on the cyclical nature of the daily auction process at a later date.

Volume - order flow? Which is more important?