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Intraday prices inherently random? God, if only trading were that easy. This thread is so twisted, reminds me of a novel I had to read in high school called . . . Catch-22.

It would have been nice not to have this thread to devolve into another "does TA work?" debate, but it seems to have gone into this direction. What I'm going to write may sound harsh to some, but if one cannot be honest here then I see no other reason to come to this site at all. I don't...

+1, +1 for the first 2 posts on this thread. It's not about knowing "who" - as in counterparty who - is on the other side of your trade. It's about understanding what exactly you are trading off of, the "why" you expect to make money on whatever trade you just placed. Do patterns and...

That was it.

Some people i know are having problems where if you go to hit the bid, instead of getting filled at bid you would offer out one penny above instead, and then lower to the former bid price once it disappears. Anyone else see this problem?

Unfortunately, anyone who's ever built up a decent amount through trading blows it out exactly the way neke is doing here. It's nothing unusual or special.

Neke has one thing going for him, he's not afraid of bigger numbers. But without an edge that advantage becomes a huge detriment. He focuses on high-flying earnings stocks purely for the volatility, the possibility for the "big winner", without understanding exactly where his advantage is...

I haven't felt the urge to post anything on my own trading for a few months now. For me, I just feel like a completely different trader since I last posted in my journal (don't even remember when that was), and somehow the desire to recount things on this board just died inside.

Unless you're gonna stick with mega caps, I think you'd have a very hard time pulling off comparable returns daytrading stocks as you do in index futures - just my hunch, given your experience. So much volume nowadays is just bs programs feeding off each other; you're only going to get filled...

The good news is, the best teacher is free and just involves getting access to real-time quotes. The market itself is by far the best and most efficient teacher, and it may take a good chunk of time and money before you're through but the honest truth to the business is if you can't figure it...

Incredible some of these replies. That's the thing about ET, you're either preaching to a mute choir or a bunch of deaf loudmouths. :)

I really don't see how any trader worth his salt could strongly disagree with the first post -- the ability to read the market on the fly, to be flexible and comfortable with uncertainty, the importance of context -- these are just basic trading abilities that many would overlook in their quest...

It's not easy to start over. I had a similar experience to yours back in 99-01 (as I'm sure many others had). It took me about 6 years to go through the cycle of a) realizing what once worked had stopped working; b) starting over from scratch; to c) developing workable "edges" (for lack of a...

That's the thing, you need to cede that game to HFT and focus more on the long con, so to speak. The robots can usually get away with bullying you in the (very)short-term, but it's a sight to behold when they get caught on the wrong side of the real move. Can bots panic? I'd vote yes.

I can understand how the bots have made a certain style of trading obsolete. But actually I think current market conditions are the best I've seen for the intraday time frame for the past 3 years, and with the dollar going down the toilet I'd imagine things can only get better. Trade small...

Oh, don't take it personally, I was mostly referring to myself at that point in my career when I said "no clue what you are doing". I don't have much information at all about what and how you are trading so my post was just generalized based on what little I read. Take it for what it's worth...

The most underestimated risk imo is overestimating one's own skill over the long run. Past performance never guarantees future results -- this means you.

Just off the top of my head: if you need to ask, then the chances of your performance continuing over the long run, at least in its current form, is slim to none. Your performance may have little to compare with pure "chance" thus far (by chance I'm referring to complete random entry), but...

I think this is the bottom line -- where intuition, gut feel, the "secret sauce", all stems from: experience. Can it be translated, automated? Who knows. I do know there are alot of qualitative nuances that would be damned difficult to teach a program to recognize, that a human trader...

In the past, I can't tell you how many times I've hit my peak P/L by 9:45-10:00, only to spend the rest of the day whittling that number away by trying to "work" the rest of the day. I eventually made long lunches and midday workout sessions a rigorous habit. Given today's market conditions...