OK thanks. I am going live soon.
A Retail's Day Trading Experiment
- Thread starter ironchef
- Start date
Thanks for the suggestion. I will include that in my study.
i am intrigued that you are open to suggestion....not many people are.
incidentally that simple strategy or market action turned my trading around.
another simple thing i found is when pull backs fail to continue: if you have a move and a pullback... then the original move continues normally.
occasionally the move does not continue after the PB and this is the simplest sign of reversal......
there is usually a test of the original move after which the [failed]pull back continues and becomes the new move . this test of the old move is what confirms the reversal .
there are times when it is not so simple but then i wait for simplicity to return and this is one of most difficult things to do.....just wait watch...if you trade continuously i found market can whipsaw you.
market takes it's time to decide and traders must take theirs too.but be ready to move when the market makes up it's mind.
too often we try to guess or anticipate the move and then we second guess or outsmart ourselves...all we have to do is follow the market like an obedient Indian wife.
i found this guessing should be avoided at all costs and is one of the main reasons for financial and emotional ruin
disclaimer: this is my experience NOT expertise......i have been a learner for 30 years
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Misogyny much?
do not overthink...overnight!
Love this part! Except the Indian wife, of which I have no slightest idea. Hehe
thanks
nowadays neither do modern Indian wives.....they are quite independent.
as the saying goes.....God promised MEN good obedient wives will be found in all corners of the world...and then went ahead and made the world round!!!!.....and laughed and laughed.
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I am surprised you said that. ET is a great sounding board, like you folks on this thread.
I have always taken any suggestions given here, from anyone, studied them carefully and incorporated into my system (like @murray t turtle on trend following).
I have also defined my approach for others who are interested.
Day Trading is worse than my old day job. 4:30 am and i am up getting ready for the day.
Thanks and agree, sir. I am not doing HFT and scraping so a fraction of a penny won't break the system, getting filled at the time, around the price is more important.
I won't argue or be critical to someone kind enough to give me constructive feedbacks. In some situation like doing HFT or during pre market with large bid/ask spread, his comments could be valid. Most of the time, during market, bid/ask is 1 penny and my real trades always got filled at or less than the price i saw on the screen.
During paper trading, I do monitor the tick by tick chart and the depth of market table. I could see multiple MM, activities and market sizes...