Quote from steve46:
Good one "Jimmie"
I really admire your comedic talent..Its as if you were trying to offer a real comment on trading intraday
Why thank you Stevie, I'll take your continued studying and commenting on my posts, and the feeble attempts of one-up manship, as the
highest compliment.
My take on the question is a little different.
First, a successful mindset for trading is to prepare first, so that you have a game plan..Most decent professionals prepare a game plan similar to what a professional football coach uses. A set of "plays if you will, that he executes depending on what he sees. To go a step further, a good coach pretty much knows what to expect and with his game plan in hand, he waits until he sees what the other team is doing, then he sends in the signal to execute his strategy. In other words, most of the real decision making is done the night before.
Excellent analogy, I guess it shows my mastery of the
concept that I am able to do so across multiple instruments at various frames of reference ... but as such, it only goes so far. Eventually, you're going to need to learn to read price action and anticipate what the market(s) do
before they do it, if you keep working at, maybe eventually you will be able to reach this level of trading.
Second, professional don't concern themselves with margin requirements. If you do, it is a sign that you are under capitalized. I realize this is a problem for retail traders, but if you take some time to research the topic you will see what I mean. Profitable traders don't think about margin when they are trading. They spend their time observing and waiting for tradeable signals.
Uh,
right 
. The effective use of margin and leverage are the key to maximizing one's trading potential, not to mention that if you're trading multiple markets using different strategies, it's an
absolute requirement ... thanks for letting us know how a
"professional" puts their assets to the highest and best use when trading leveraged instruments ...
.
Because skilled professionals have done their homework and they are often moving size, they have to concern themselves with getting favorable entry position, and setting up their exits. Retail traders don't need to worry so much about size issues but they still have to plan their exits. The idea that one has to use countertrend trades to "max out" a trade is well, just silly. There is only one way to estimate what a trade will bring, and that is to know how to evaluate the forces that create market balance and imbalance. Don't take it seriously, it is part of Jimmies comedy routine ("hey look at me, I'm a trader")
LOL, once again you're putting
your limitations and insecurities in the spotlight, not mine. It's apparent that you have trouble dealing with
concepts which exist outside of your
frame of reference ... more pity you, a square box isn't the solution to everything.
I know that the original poster believes that swing trading is a better way to go. When it comes to retail trading he is correct.
Properly prepared a retail trader has a better chance of succeeding than an intraday trader. Although the principles he uses do work intraday, the set-ups work better on the longer term because there is less noise.
Good luck
Steve
I'm sure you meant
position where you typed
retail in your hastily construed post, but that is nothing new, we've talked about that point
ad nauseum, particularly the "noise factor", which B1S2 has devised a rather excellent work around to I might add, but thanks for trying,
I'm sure you really meant to add something new to the thread.
In terms of a
position (there's that word again) trader having a better chance to succeed than an
intra-day trader, taken out of context the comment doesn't actually
mean anything, to succeed at either endeavor a trader is going to have to possess considerable skill ...
, and a good intra-day trader will take a position player apart due to his use of greater than 100% of an instruments' daily trading range, and skillful use of leverage and margin (oh, I forgot,
you wouldn't know anything about that).
Good trading all,
JJ
