Day Trading for a Seasoned Swing Trader
- Thread starter systematictrader
- Start date
No hard-set rule. Depends on how the market "smells" during the run-up to report time I guess. No, that cannot be "systematized", since I know you're thinking of that.
psychology.
Let me ask you a question why would anybody want to do both swing and day trading??
if u r successful at day trading u ill make more money compared to swing in a given time and it makes no sense to continue swing.
Similarly if u r good at swing and not so much at day trading , u will stop day trading eventually and save the time wastage.
it makes no logical sense to do both.
it could be agreeable here, the variables UNTESTED are this, specially on the psychology part,,, one i never succeeded in psychology in swing trading UNTIL i systematized EVERYTHING where when i put on a trade i dont even take longer than the 1 second and i dont even think, in matter fact most of my trades are usually entered from my phone cuz the preparation is already done well in advance..
so the untested variable could i succeed in psychology in day trading
2nd one is could i find out that systems trading as in swing trading might be more profitable for me in day trading
3rd one is could i be successful in both once u mastered the basics (the ones that take forever) discipline, patience. follow rules etc
thats why iam seeking answers by those who have tried,,,
as always, everyone input is appreciated
your logic is flawed.
trading is not manual labor ....putting extra hours does not necessarily create more money.
it doesnt necessarily make more money, but it could translate to more money, and the hours are not put into trading, they are put into research for trading,,, other wise how are greatest systems or traders made???
were they made cuz they were there trading long enough and oppps one year the best performing system or trader came up? or were they there cuz they worked and continued to work relentlessly at improving?
its probably a combination of both
but if someone like me or u who is right now putting X amount of hours and successful, putting extra hours wouldnt hurt, its risk-less and most likely will lead to better discoveries, ONCE AGAIN putting more hours into developing and doing better NOT into changing what they do, change should only take place after proven improvements is discovered
plus the financial markets are endless, if ur system or style is working in whatever market ur doing, who said extra hours testing it else where wont work? how other wise would u know whats better if ur limiting ur self to the hours u already input
"those who wait for the boat have already missed the ship"
it took you 8 years before u had any success in swing trading.
What makes you think you will make money in day trading from Day1 where you have zero experience.
Your assumption that you will translate the swing trading success to day trading seamlessly is very dangerous.
How about you take a month leave and day trade and proof to yourselves that it works. Or do you want to find out only after quitting your job??
This is my last post here. Good luck on whatever you do.