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I think this is probably the most sensible explanation I have had so far. Thanks

Honestly Bill I am not. I know nothing about this book. You must believe me and I would really be interested to know its name.

Honestly I don't know which book you are talking about. I put that post from no book. It is just my own frustrations coming out in failing to predict markets movement as often as I do. Cheers Love to know which book you are referring to.

Here we are again. You are referring to "the market" as if it is something out side human behaviour which needs to be understood like we are trying to understand the laws of nature. Isn't the market just us? Do we not understand ourselves? What is it that I am missing. A roulette wheel is...

What is this thing called “The Market” ? It reminds me of the Cole Porter song "What Is This Thing Called Love"! We often hear analysts, traders and market commentators refer to "The Market". The “The Market” is confused, “The Market” is choppy “The Market” .... It...

An all time high or all time low is an instant in time. Are you saying that one tick below an all time high and one tick above an all time low the market both, in an up trend and down trend? I think, for a given time frame, it is always difficult to establish whether the market is in an...

You might have a point there. I have at times studied chart patterns etc and seen strategies that looked successful but I did not decide to follow them because most of them required wide stops to start with. But maybe that is what one has to live with. Gifropan

I would kindly ask you to come up with a more positive suggestion to help rather than deter me.

Why??

I do don't follow you by "what the OP wanted" to hear. I did put up the post as a genuine question because of my own inability to find a successful trading strategy. I am glad to hear that there are people out there who are making money daytrading because it makes me keen to work harder at...

I am quite intrigued by the response my post has had. Although I have not made a success at it, yet, nevertheless I do not think that it is an impossible task. I agree that it is difficult, in fact extremely difficult to do it right. What the "secret" is I do not know yet but I will put up...

Quite often, I hear invited guests on CNBC amd similar Television Channels saying that it is not possible to make money daytrading or intraday trading. I presume these people are fairly successful fund managers and/or analysts. As you might guess, I have not been able to consistently produce...

I suppose the question I am putting to all is that what kind of trading philosophy is most suited to intraday trading. Trend following models can be used for position trading and intraday trading but I am not so sure that the same exit strategies can be used for both time frames. Bob

Dear thetrendfollowe. You just reaffirmed my point. Your trend following stop will take 12% profilt out of the 25% you already have. Now suppose your profit level had not reached 25% and say it was at 8%. I presume then that if you held the position until your stop was hit the trade would...

The most standard and general advice in trading is "let your profits run" What they never say is run them for how long. Run them until you turn a loss, break even or.... With most trend following systems, unless some mega trend is in place, very often all or most of the profit in a position...

I think there is empirical evidence that this might be the case. I think it is a fact that the near opening and near the close the volumes are higher and therefore one could imply that the market could be more likely to trend than in periods with little volume. Perhaps someone with more...

I have been working on developing intraday trading strategies for some time. One thing I have always had to contend with is the problem of whipsaws in trend following strategies which generate too many trades and accumulate losses without the market having made any significant move either up...

If you are going for 3 or 4 ticks what size stop loss would you use. My own opinion, although contrary to most written advice is that the stop should be larger, maybe 15 or 20 ticks. This would give the trade the chance to make its 3 or 4 ticks. What do you think?? Bob

I have an ongoing discussion with a trader friend of mine over the issue of stop loss and profit targets in relation to day trading or intraday trading. The main market we both focus on is the FTSE100 futures. He basically follows various trend following systems on a minute bar chart with a 5...

In trading literature one often comes across the phrase "you need to have an edge over the market" Can someone elaborate on this statement. Does this mean that you have to have more winning trades than loosing trades? Or is the "edge" a deeper concept?? Bob