Day-Trading 2.0 for small traders

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Here's my thinking on pretty much every trade I make (I tried to add this to the previous post but it won't let you add an attachment on an edit).

Does anyone have a method to tell if the market is going to be trending or not?

Fixed profit targets work well when it's choppy but equal net losses when it's trendy.

Letting the market stop you out equals losses when it's choppy but massive profits when it's trendy.
 

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At minimum, usually, my targets are (in sum) equal to the risk of that trade. I usually scale out half at a predetermined target, the other half with a trailing stop (allowing me to catch larger moves).

The comment about trending vs ranging markets... maybe look at the Avg True Range, and not trade below a level? Or not trade during choppy times ie. lunch... Or change time frames once again, to a slower one..

Regarding automating your system. I agree anything 'can' be automated, but like regression analysis, you need to account for all variables to have an accurate model.

ps. Thanks for the welcome, but i've been here for years, but only found it worthwhile responding to this thread.
 
on a trend day you can use a comparison chart of uvol/dvol and one will flatline while the other rises all day,since it happens 2 or 3 times a month i have it on my screen all the time,it also indicates reversals when the 2 avgs start to curl towards each other and then cross
 
Quote from ddoonie:
ps. Thanks for the welcome, but i've been here for years, but only found it worthwhile responding to this thread.
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I didn't even notice your join date; all I saw was the number of posts :D
 
Quote from ammo:

on a trend day you can use a comparison chart of uvol/dvol and one will flatline while the other rises all day,since it happens 2 or 3 times a month i have it on my screen all the time,it also indicates reversals when the 2 avgs start to curl towards each other and then cross
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I must be using the wrong indicator because when I load "Volume-Up" it just shows volume for up candle sticks and when I load "volume-down" it just shows volume for down candlesticks. So there's no information there that isn't on the regular volume indicator.
 
Quote from toucan:

Ironfist.... I plot upvol and dnvol on the same chart ... that way you can see both at the same time.

toucan
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When I plot them both on the same chart it looks exactly like the "volume" study (except I just noticed there are some weird gaps of no volume on candles where the open = close)

I plotted them both on the same chart and added SMAs (one for up volume, one for down volume). That seems to give the effect you're talking about.

Tell me if this looks right:
 

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i put mine in a separate candlestick chart that shows both adv and decl.... can't seem to figure out how to attach using the attach at the bottom or I would show you mine..

toucan
 
Quote from IronFist:

When I plot them both on the same chart it looks exactly like the "volume" study (except I just noticed there are some weird gaps of no volume on candles where the open = close)

I plotted them both on the same chart and added SMAs (one for up volume, one for down volume). That seems to give the effect you're talking about.

Tell me if this looks right:
More...
you want them on a comparison chart similar to comparing the spus to the dow,you would have 2 lines,1 for up vol and 1 for down vol,most days one is dominant,on a trend day one is almost a flat line while the other one rises all day and you dont really need any indicators on there just uvol comparison to dvol,i set it for 1 minute intervals
 
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