Can you point me to the specific post
can price action predict market moves
- Thread starter geth03
- Start date
You will never know in advance whether a large mutual fund will buy or sell.
Therefore yes.
Price action is the most approximate way of knowing what will happen. But just that. About.
Therefore yes.
Price action is the most approximate way of knowing what will happen. But just that. About.
The problem I find is that when an institution makes a large trade it's usually a cross or done in the dark pools and doesn't show up immediately.
The other thing is that large trades are done by institutions. It's not often institutions trading against retail traders. How do you tell which institution is right.
QUOTE="DiceAreCast, post: 5356971, member: 523201"]Except when in hindsight it turned out to be a valid breakout. Happens around 50/50 of the time, add commission and spread and slippage to that and you have a guaranteed money loser. Welcome to the exciting but unprofitable world of chart trading. You sir, are the man of the hour.[/QUOTE]
Day trading is much harder than swing/position trading due to often finding yourself chopped by randomness of intraday activities of market participants. Throw in DAC's reasons and you have a recipe for disaster for vast majority of daytraders. I just don't daytrade, I made 2 trades recently, one was breakeven and 2nd +395pts NQ (1 contract). I wasn't concerned with slippage or commissions, I wasn't bothered with intraday's chop either. I was monitoring position once every couple of hours.
Furphy about overnight risk!
Yes, maybe if you trade penny stocks.
But overnight can work for you as much as against you.
Day trading is much harder than swing/position trading due to often finding yourself chopped by randomness of intraday activities of market participants. Throw in DAC's reasons and you have a recipe for disaster for vast majority of daytraders. I just don't daytrade, I made 2 trades recently, one was breakeven and 2nd +395pts NQ (1 contract). I wasn't concerned with slippage or commissions, I wasn't bothered with intraday's chop either. I was monitoring position once every couple of hours.[/QUOTE]
I've done both, day and swing trading. I mostly swing trade now just because of the time involved. I don't think one is any easier than the other, only the time involved.
To me day trading is more stressful. You have to be on your game at all time. Swing trading takes up about a 1/2 hour per day and I can chose when I want to spend the time.
As for risk I still maintain that day trading has less risk just because you are not in the market when it's closed.
I'm only concerned when it works against me. #1 priority is capital preservation. There is no risk when you are not in the market.
I've done both, day and swing trading. I mostly swing trade now just because of the time involved. I don't think one is any easier than the other, only the time involved.
To me day trading is more stressful. You have to be on your game at all time. Swing trading takes up about a 1/2 hour per day and I can chose when I want to spend the time.
As for risk I still maintain that day trading has less risk just because you are not in the market when it's closed.[/QUOTE]
You're forgetting the common trait of traders - over leveraging due to trading shorter time frames. Risk is therefore much higher.
Riiiight, so in a bullmarket (+ about 80% of the time) overnight is going to work against you?
Ohhh deary me.
