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I now exit/stop trades myself. Often I was late on exiting the wrong trades so I need to practice more. One way I am looking at this is I know what my winning trades look like (i.e., pretty much winning quickly after entry), so if the trade is not winning within a few minutes I am looking to...

As much as I like your thinking it’s still leaving out the critical issue of how to identify a wrong trade and when to exit it. I don’t have a good solution either. One way may be using timed stops. Using preset stops doesn’t work for me because most times they are hit. If I use large stops I...

For day trading, it doesn’t matter long or short. I use both but shorting is more difficult since most downtrends are quite jagged.

The problem is it’s like drinking poison to quench thirst. You’re dead in the end.

Day trade or swing trade you got to have the flexibility to get out the market anytime. Too much risk I think, especially if you trade UVXY, which can turn against you quickly and violently. My first big loss was 10 years ago trading UVXY on margin.

If you trade often why do you have a cash account? Margin account is the way to go.

Well my win rate has been over 80% this year so far but I am down for the year. Win rate indicates nothing. A friend of mine averaged down this year just like what he did last year. He won every time in the end until last month. Now he is down 30% for the year.

I wonder how Ken is doing with his UVXY today. Hope he had dumped it prior to today’s big bounce up.

All is true. In the end it’s the trader who really matters.

We should all be happy and hopeful.

This is the key. It doesn’t happen often but when it does it’s so obvious.

Guess SunTrader is right. This is all pretty much generalized meaningless stuff. ;)

But the turtles didn’t do well afterwards due to the market changes. Although the principles hold true one needs to constantly adjust to the ever evolving market.

I’d like to hear your specific meaningful stuff if you care to share. :D I am all ears.

I know of those big shots but you’re just cherry picking here. In addition, they probably won’t do so well in today’s environment as the market gets more and more efficient. On the counter point, Jimmy Simons has been hugely and consistently successful of doing pretty much just day trading with...

Yes I am a day trader because I don’t think one can see the trend clearly and consistently for any time longer than a few minutes or hours. The key here is consistency with a statistical edge. A monkey will get it right 50% of the time by random picking/trading. Do you know the hedge fund...

I would say 90% time the “trend” we see is either fake (due to market tricks/traps) or just noise. Only 10% time market shows a true trend that is beyond any manipulation and has a clear high S/N ratio. That’s when we humans can trade and win. All other 90% time when we trade is only a wash at...

I think automated algo trading doesn’t necessarily exclude looking at the trend. If the program looks at the market data it’s “looking at” the trend or the countertrend before initiating trades. It just isn’t physically looking at the trend like a human does. Human has eyes so he can visualize...

In the end we’ll be all dead. Timing matters. Lol

Nice write-up but those are not really aha moments but merely revelations during the learning process.