Day Traders
- Thread starter Alan Au
- Start date
Charts. Trend lines. That's it. 
(but you also have to be aware of the logic behind those moves: market sentiment, macro economic reports, etc)
Fundamentals, financial reports etc etc misc misc are for long-term investors.
(but you also have to be aware of the logic behind those moves: market sentiment, macro economic reports, etc)
Fundamentals, financial reports etc etc misc misc are for long-term investors.
Yesterday I completed all trades between three seconds and 4.5 minutes. Went both long/short in Crude Oil and ES, starting at 4:00amMDT and ended at 6:45am in Crude and doing 22 trades in Crude Oil, started ES at 6:30am and finished at 8:50am and doing 28 trades, couple trades had slippage to choke an elephant but still made targets and most of the others got my price without slippage, slippage extends risk placement. If you were interested in times/trades, as I am a scalper doing more trades than most who trade trends and do fewer trades, I go for much smaller profits but on larger size. If you think fundamentals will help you, it is just another rule to limit number of trades, and Sergio77 "Day traders deal with noise only" is correct to a degree, most of my trades occur in trading range, and those that do get out of range in my direction, I am soon out of the trade and looking for another range.
Back in the 1970s, all were into fundamentals cause no computers and let me tell you, charting by hand is major headache as I did it for twenty years way after computers came out, but you learn best by brain to hand, always carrying around rolls of all the stocks one follows, I had thirty feet of IBM.
Now there are some stocks I have never sold and acquired in the 1980s that offer sensible dividends and reinvested into more stocks, but I don't look at fundamentals there either. I stopped looking into the financials back in the 80s, I got my degree in Business/Accounting just to be able to read the financials better, learned you can extend the truth in so many ways to where there is no truth, but the whole idea of long or day trading is MONEY MONEY MONEY and the charts says it all.
Hi Handle,
You used to look at the five-minute chart of crude oil for EMA bounce, reverse divergence, etc. Since you did 22 trades within three hours yesterday, I guess you trade solely off the one-minute chart now. Right ?
Yes, since I have gotten use to them for ES unless bars are fly specs. It doesn't really matter what timeframe I trade, use all the signals the same but risk expands but profit targets don't test much better than what I am getting now. And I get bored from time to time trading ES, so I mix it up with Crude Oil, Euro, Gold, Copper, US Dollar, chart patterns are chart patterns, some are sloppy and ES very rigid. Volume often makes a difference in slop, less volume, risk goes up, so I rather trade heavier times for ES and currencies, gold and if I want to trade lighter markets like Coffee, Cotton etc, much less size.
Lol, there is quite a bit of truth in this.
Some strategy may work for a while but then it will give all profits back. Only market making justifies day trading.
I am daytrader and all my profitable trades last between 1 and 5 hours. Average is around 2 trades a day (last two weeks average was 2.11 trades a day). I take profits in the ES that can go up to 10-20 points. That's noise to you? If that is noise to you that you don't trade, then I agree that you cannot make money as a daytrader.
Are you or did you ever daytrade? I started in 1990.