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Do you even enjoy trading?
- Thread starter michael21
- Start date
Quote from ChkitOut:
the thing i never really understood when people say i scale in to make a point or 2 is what if you're right on your first buy? or your second?
then you're getting that point with small size so it doesn't really make any sense to say i made 2 points today because you may have done it with 1 contract today and 10 tomorrow??
maybe im missing something...
For me when I scale in at a percieved level, Im hoping that my order fills at an exact level then retraces/rebounds, sometimes it is but most times not. Here's an example, if I expect the market to stall during an upmove to say, ES 1320.00 I'll put an order to sell lmt at 1319.75 if it fills then moves slightly against me I'll sell another at say 20.50 then put an order in to cover my initial short at 19.50. I'll do this only for only two or so scale ins (depends on mkt feel/intuition as well) before I know Im wrong then flatten everything. If in the example the mkt pulls back to the 19.50 level and fills I am now out of my first ladder. It covers my cost of that trade plus a tiny profit and I'm now holding on to a winner with the short at 20.50 The levels are key, if the levels of inflection or s/r are off my scale ins obviously will not work. This can work well with lots of practice just watching the DOM and sometimes nothing else, does for me anyways.
Quote from DeeDeeTwo:
As someone who's run a trading business for 15 years...
IMO people who claim to be "done by noon", etc...
Are completely full of shit... it's just not adult thinking.
I said 'like' to be done by noon, not 'am' done by noon, in otherwords it part of my daily goal as well. Why do people insist on taking things out of context! wtf?
I "like" to be done by 9:45 am.....but never happens.
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As someone who's run a trading business for 15 years...
IMO people who claim to be "done by noon", etc...
Are completely full of shit... it's just not adult thinking.
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As someone who's run a trading business for 15 years...
IMO people who claim to be "done by noon", etc...
Are completely full of shit... it's just not adult thinking.
Yes, it keeps my mind and reflexes sharp and it pays me very well. What's not to like?
Quote from michael21:
Right now I'm still learning...it's been about 2 years and I'm trying to battle it out everyday but I met a trader today and he was so damn bitter I thought he for sure lost money and I find out he's been having a great week. Is that the life of a successful trader? You're bad days you're bitter and on the good days, you're slightly less bitter?
I am like this. I suppose I come across as an angry, hateful person but I love every minute of every trade. Don't mistake the intensity for perpetual anger/sadness, it's just that the business is about eeking out every last tick, and that intensity sometimes leaks out in various ways that don't always make sense.