Afternoon churnfest! help!

Quote from elindydotcom:

Or change size depending on the hour of the day. It is useful to keep trading for some folks in order to remain "in the groove" and focused. But why not trade 10 shares or even 1 share instead of 1000?

Just a thought...

-eLindy
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Never do this.. This will get you in the habit of overtrading,

At least as a "daytrader/swing trader" , I don't know about a scalper.

Doing those little 1 share trades, is equivalent to cutting fruit on your break time while you are trying to learn how to be a french chef. Waste of time!

I use to trade during all times, until I figured out I was still lacking in knowledge of exactly what to look for to avoid chop.
A post in here pointed out one good method.
 
Quote from Dogballoon:

The trick? Don't work at a chop shop where you're trained to only jump at size :D
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No? Then where else is a newcomer suppose to go to learn how to trade? I was trained like that but I don't jump in whenever I see a big bid/offer. Maybe in the first couple of months but not anymore. My tape reading skills have gotten much better but still not at the point where I can see the bigger picture, which is what this thread is mainly about.

By the way, do I know you? Have you ever worked at my firm before? I have read some of your posts and you sound like you worked at my firm at some point.
 
Vix is nothing different than the weather. If the weather changes, you change the days dress or open more or less windows. Vix is a condition, conditions change, so should you.

Deal with it!!!!!
.......................................
:)
 
Quote from Spxdes:

I was trained like that but I don't jump in whenever I see a big bid/offer.
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Good, that's the beginning. A written strategy helps, though you may have keen intuitive skills for reading price action and thus can make it without rules. But that's rather rare. If you're tape reading only, without charts, you will know already when to stop taking signals. Otherwise it helps to halve your size, take twice the amount of cent risk, and set your entries according to chart setups.

We worked at the same firm? Which firm do you work at?
 
Quote from Batterup:

Vix is nothing different than the weather. If the weather changes, you change the days dress or open more or less windows. Vix is a condition, conditions change, so should you.

Deal with it!!!!!
.......................................
:)
More...

yeah and u are no different than a retard. try deal with that smartypantz
 
Quote from Spxdes:

I trade nyse equities by reading the tape and scalp fast movements for 10 to 50 cents. For a while now I can't seem to trade the afternoon at all. I can kill it in the first hour and the last hour is not so bad. However, when it comes to trading in the afternoon, I am completely lost. Other traders at my firm just tell me to sit on my hands and only take the best trades but I can't seem to do this. I know that part of my problem is my lack of patience in the afternoon but I also feel that I just don't understand the changes that occur after 10:30. The setups that work in the morning don't work well at all in the afternoon.

Are there any scalpers that had this problem and were able to fix it? Instead of working on my afternoon game, should I just focus on taking as much as I can in the first hour and then not trade till 3? Any advice would be appreciated.

-spxdes
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I think you answered your own question wisely. Focus on the first hour when volume and volitilty are plentiful.
 
ok, let me put it this way. First a word to bitstream, thks for remaining a fan. ..:D


In my own trading, (ES only) i trade off the opening, most often after the first 5 minute bar starts as a setup for a signal, ok. If choppy during early bars i will not sit and get chopped up, rather i might wait for the first hour range to settle in and then take the breakout of that range.

Myself, most profits are made early, read before noon est. WHY?

Experience has taught me that the technical setups ( i am a daytrader and use a 5 minute chart) are more TRUE in the early morning when the institutions are in the game. Volume needs to be high for TA to be an effective tool for trading in such a short time frame. When the institutional trading houses back off and play grabass at the water cooler it is time for me also to relax and wait for the big dogs get back into the playpen.

NOT trading when the bigs are not in the game and the locals are playing ping-pong with small ranges i prefer to give it a pass. new traders think they need to be in all the time, WRONG.

Wait for real action, way for real moves, with experience it will be VERY visible when the BIGS are chowing down. Do not let the locals chew on your butt during slow times. Be patient, you will sit there and with experience almost have a visual on the chart before it happens. you will see what you will want to do no matter if it goes up or down. Do not expect good results from low volume local yocal ping-pong. Commissions dictate you to not pretend you can catch every small move, that is for locals in the pits only.

Thks, be advised: whenever i give a short and sweet remark...it is what i call a hard and fast lesson. i try to be helpful, patience is not a daytraders personality in general. Becoming SHORT is a trait from being a trader. ...:) :cool:
 
Quote from Dogballoon:

Good, that's the beginning. A written strategy helps, though you may have keen intuitive skills for reading price action and thus can make it without rules. But that's rather rare. If you're tape reading only, without charts, you will know already when to stop taking signals. Otherwise it helps to halve your size, take twice the amount of cent risk, and set your entries according to chart setups.

We worked at the same firm? Which firm do you work at?
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Dogballoon, I will pm you about that.
 
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