Day Trading for a Seasoned Swing Trader

[systematictrader]

Rufus, it seems like you are all over the place. In just a few threads I've read you're asking for help in a bunch of different areas.

If you make so much money swing trading, why do you act cluelesss in regard to day trading? Between this and several other "red flags" something just doesn't quite add up. Anybody agree?

iam in simple 3 strategies of 3 accounts, i can see where u can get thrown off from my threads
the 3 things are all systematic so while drastic in quantity they all are down to simple rules thus not much thinking is involved or tracking no matter how many instruments there are

Margin account: systematic trading, forex, futures, stocks, all traded same exact method same type of charting, iam not necessarily in all 3 at once. this is though where i spend most of my time since this is where i can add or take out whatever necessary amounts of money to spend or to grow the account. this is simply what i consider trading

IRA: pretax money, individual stocks with dividend as the timing mechanism ( as in my thread" do i need to hire a FA analyst" money here is limited to 5500 a year, and i CANT take it out.. these are more so investing as they are almost always biased long, same as the 401k below

401K: cash or S&P 500, above and below weekly macd line ( as shown in my thread " can it be this simple" money in here is limited to 18500 a year and i CANT take it out and its only available to contribute to while iam with my employer


and iam not sure where you got sooooooo much money in swing trading, i made excellent percentage in swing trading on a sizeable account the last year in a half and iam stepping up my account size in the margin account to be able to hopefully transition to live off of it the next 2 years or so..... not enough to live off of, at least not with my life style,,

the primary income is still my job, and trading gains i dont take them out since either i cant cuz in pretax accounts or cuz i dont need them since iam NOT YET trading for living

you give me far more credit than needed to be,,,

iam clueless to day trading cuz i never day traded, simple and plain,,,, i might be possibly interested in learning it cuz if i succeeded swing trading while still spending 40 hours at a job then once i quit that job iam going to have 40 extra hours and the question is dedicate it to swing trading on top of whats already being dedicated there? or dedicate it to seperate style of trading (day trading) thats what iam gathering opinion and forming my own to decide when the time comes what should be done

 

[systematictrader]

Be aware of a potential problem in trying to integrate one time frame with another. Specifically, much of your success in swing trading is likely due to having your attention drawn away from the markets while involved in other activities. Day trading will draw you into all the market fluctuations and emotional challenges you don't experience now, which may in turn also impact your swing trading. So...don't assume a cake walk of a transition. But good luck.

this is a very big one,,, in my swing trading during my losing years i noticed i lost the most when i was watching the market the most which i really didnt need to for swing trading,,, when i started doing my analysis at night when markets were closed and didnt even see the markets live it helped me big time

 

[systematictrader]

Daytrading is different from Swing, you just want to jump on current direction when therevis strength, ride it as long as you dare or till it starts to turn and repeat.

Easier than Swing but timing is everything, no time to think, i hesitated just, missed an entry would of made $50 in 3mins, wanted tad lower.

$50 in 3 mins works nicely for me.

do u mind give an example of this, what i mean is whats the reason you hesitated, as in can there be rules involved to minimize the thinking of hesitating or being too aggressive, in this certain scenario what was systematized and what wasn't that caused you to hesitate?

appreciate it

 

[Overnight]

do u mind give an example of this, what i mean is whats the reason you hesitated, as in can there be rules involved to minimize the thinking of hesitating or being too aggressive, in this certain scenario what was systematized and what wasn't that caused you to hesitate?

appreciate it

I experienced an example of this yesterday, where I hesitated right before the big CL rise after the report. I missed out on 50-70 tics of profit because I was trying to balance my swing trading responsibility with my desire to capture potential profits on a day move. This is the problem with trying to integrate both styles into one's mind, because for what I do it requires a certain amount of capital for swinging, whereas day requires very little. The frustration of missing big day-move profits conflicting with the need to preserve capital for the swings is huge. I couldn't tell you if day+swing could be "systematized" to your liking. But since I am totally discretionary in trading, with no "automation", you may find something that works for you.

 

[systematictrader]

I experienced an example of this yesterday, where I hesitated right before the big CL rise after the report. I missed out on 50-70 tics of profit because I was trying to balance my swing trading responsibility with my desire to capture potential profits on a day move. This is the problem with trying to integrate both styles into one's mind, because for what I do it requires a certain amount of capital for swinging, whereas day requires very little. The frustration of missing big day-move profits conflicting with the need to preserve capital for the swings is huge. I couldn't tell you if day+swing could be "systematized" to your liking. But since I am totally discretionary in trading, with no "automation", you may find something that works for you.

if i understand this correctly, u had a swing trade on, or an idea on and the responsibility is that u leave it as is,,, then u had a desire to catch a daily move in a day trade, and the responsibility above made u hesistate
i see ur statement on cap req

2 questions i like to ask i u may,
whats usually your approach on previous reports? as in do u always trade the reports? or do u weigh it out?

second is ur day trading combined in swing trading? as in is it one account?

lastly if someone asked r u a day trader or a swing trader which one would u be?

 

[Overnight]

2 questions i like to ask i u may,
whats usually your approach on previous reports? as in do u always trade the reports? or do u weigh it out?

second is ur day trading combined in swing trading? as in is it one account?

lastly if someone asked r u a day trader or a swing trader which one would u be?

That's six questions, not two. We can combine them into three though.

whats usually your approach on previous reports? as in do u always trade the reports? or do u weigh it out?

Previous reports have no bearing on the future. Only future reports have bearing on the future. And I trade futures, not "past"ures. Unless they are cow futures, which involve pastures. I try to trade reports, yes.

second is ur day trading combined in swing trading? as in is it one account?

Yes, I do not have enough money to have two trading accounts, and until I do I have not bothered to explore enough of the legal ramifications of having two accounts trading the same products, if there are any. There may be, when they CME products.

lastly if someone asked r u a day trader or a swing trader which one would u be?

Both.

 

[systematictrader]

That's six questions, not two. We can combine them into three though.



Previous reports have no bearing on the future. Only future reports have bearing on the future. And I trade futures, not "past"ures. Unless they are cow futures, which involve pastures. I try to trade reports, yes.



Yes, I do not have enough money to have two trading accounts, and until I do I have not bothered to explore enough of the legal ramifications of having two accounts trading the same products, if there are any. There may be, when they CME products.



Both.

there were 6, lol,,,

what i mean in the report question is whether you have the same standard for when reports come out as in, trade every time a report comes out or dont trade anytime there is report coming out....as in is there a hard set rule on whether to trade or not when there is reports or is it more so u weigh it out every time separately

 

[Overnight]

there were 6, lol,,,

Before I answer any more questions here, I'd like to know what happened to your username? Just 15ish minutes ago it was Rufus Mrehin. Now it is something completely different. You a Monty Python fan or something, liking to change things up like that?

 

[bpr]

I am a swing trader. I have tried many times at day trading and the result is awful. I am now confident day trading is not for me.

My conclusion is that you are either this or that, not both.

I would advise you to look into further improving your swing trading instead of transitioning to day trading.

 

[systematictrader]

Before I answer any more questions here, I'd like to know what happened to your username? Just 15ish minutes ago it was Rufus Mrehin. Now it is something completely different. You a Monty Python fan or something, liking to change things up like that?

Overnight hahahah, u track me more than u track your day trading instruments, jk i changed it because seems like no one uses their name