A Daytrading Plan (financials only)

[MacBookProHo]

Timing. No shit sherlock.

Do you use price action?
That'd be a simple yes or no, bud.

Price action....I don't even know what price action is. I've heard about it from time to time, but I have no true sense of what ...oooo.....Price Action! is. The Action! of the Price! Price, Action
People who buy trading books....talk and ramble on about Price Action!

That's like saying Mouse Action!....you don't need traps or poison.....just follow the Action of the Mouse. You don't need hunting or fishing guides....just follow the Action! of the Deer and Fish.

While there is some truth to that, it's not sufficient and efficient enough to profit. A trader needs a much more well-rounded, deeper, sense of what is happening, unfolding and expected to happen.

A trader is still human, and not a prophet. But if they understand and possess the above, they will have more than enough in their arsenal to get rich from the market.

 

[easymon1]

Price action....I don't even know what price action is. I've heard about it from time to time, but I have no true sense of what ...oooo.....Price Action! is. The Action! of the Price! Price, Action
People who buy trading books....talk and ramble on about Price Action!

That's like saying Mouse Action!....you don't need traps or poison.....just follow the Action of the Mouse. You don't need hunting or fishing guides....just follow the Action! of the Deer and Fish.

While there is some truth to that, it's not sufficient and efficient enough to profit. A trader needs a much more well-rounded, deeper, sense of what is happening, unfolding and expected to happen.

A trader is still human, and not a prophet. But if they understand and possess the above, they will have more than enough in their arsenal to get rich from the market.

What would stop someone, not me of course, but a reader - let's call her 'reason', from determining from your posts that you fulla shit?
Not that there's anything wrong with that.

 

[MacBookProHo]

What would stop someone, not me of course, but a reader - let's call her 'reason', from determining from your posts that you fulla shit?

That's a good question....shit. There's so many shit all around us everyday. 99.4% of the content on ET is shit. It may sound good in hindsight, theory, in a book or trading course or video....but it's still actual shit in the real world.

I expected the market to be Flat overall/marginally go Up today...which it did. If you bought around 9:43 and sold around 10:20....you could have made six figures. And that's all you need to know, you don't need to be an actual Prophet, and nail everything to get rich.

 

[easymon1]

It may sound good in hindsight

If you bought around 9:43 and sold around 10:20....you could have

If ... X
you coulda... Y

e.g.
If my aunt coulda been born with balls
Then
she coulda ... been my uncle.

How could little ms 'reason' think otherwise of your content, MacBoo?
c'mon Step it up for pete's sake.
have some pride man.

 

[Overnight]

If you bought around 9:43 and sold around 10:20....you could have made six figures...

If you sold at 10:20 and bought at RTH close, you'd have made 8, 9, 10 figures. Just depends on your order size. For crying out loud, stop this JackMorgan 6 figure bullshit!

You, like him, are a hindsight MASTAH! Well, genius, where are we going tomorrow?

P.S. Did you buy at 9:43 and sell at 10:20 and make your 6 figures? I did, because you posted a chart.

 

[easymon1]

I did, because you posted a chart.

Ahhhhhh HA!
You owe us one, of the uniroyal or hank and ashley or you know what I'm talkin about flavor, intraday if ya please, sarge.

 

[Overnight]

Ahhhhhh HA!
You owe us one, of the uniroyal or hank and ashley or you know what I'm talkin about flavor, intraday if ya please, sarge.

This is not a chart-style thing. This is me picking on Jackmorgan vicariously through you and MacBookHo.

 

[murray t turtle]

Past certain size it's the opposite. Eg. 100k account is better to trade stocks than 1mil. Less market impact > slippage cost on getting in/out. This is one of the big reasons why 7-figure accounts rarely see more than 20% gains annual consistently.

%%
ANOTHER reason maybe \
long term so few beat a benchmark like SPY S&P 500.[About10%]
Then some people look @ markets simply wrong\some one told Dave Ramsey, you cant get 12% average\ GS doesnt make that long term.LOL
Markets move so wild, i would not call it random.
Even a big CAT like a lion may only get a wild deer 19% of the time, a bit higher% in groups which they tend to do.,Tigers always hunt alone\ get about10% success.
Plenty of daily businesses make more than 20%\
but plenty of those are service businesses or non capital intensive which may not be a fair measure of comparison.........