No, you stopped reading there and didn't put the pieces together. Intuition is simply something we know so well we no longer have to think actively about it. "Subjectivity," intuition," "art" are all words we use to cover our ignorance or our ineptitude, or both.
ES/NQ Trading - looking for solutions
- Thread starter syswizard
- Start date
No, you stopped reading there and didn't put the pieces together. Intuition is simply something we know so well we no longer have to think actively about it. "Subjectivity," intuition," "art" are all words we use to cover our ignorance or our ineptitude, or both.
I am well aware of this fact. The algos just love to take-out stops...and also "gun and run" the market.
We had two days of that last week...where we went to HOD's in ES until 3:50 pm when the market reversed sharply....with no news...for no reason. That was an eye-opening experience....luckily I took advantage of one of those reversals. I was up $450 in 11 seconds...I'll never forget that trade.
BTW: For the most part with my scalping I am getting the crumbs. I am trying to morph more into short-term swing trades with a duration of 5-15 minutes. Currently, my average-time-in-trade is only 3-5 minutes....with some of my stops being taken out in seconds....as they are sometimes too tight.
I put them in this order: Guts, Patience, Discipline, Intuition
Well versed here.....standard tech analysis i.e. double bottoms, tops, trend lines, support/resistance, etc. as well as candlestick patterns and Elliott Wave analysis. I'm on a forum during the trading day with some very talented traders who support each other.
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I have to agree with you here..intuition should not be allowed when trading.. it's a numbers game..simple maths..but the powers that be put every obstacle in the way so that cannon fodder is maintained..at any cost!
an inexperienced trader..with good discipline and good basic math skills..can outperform the fool who has been tinkering around in the financial markets for years..learning about everything..and really getting nowhere!
the world is full of gamblers..but how many make it to the top..those who have all sing from the same hymn sheet..most of the time when they are playing they are really doing nothing..they wait for the opportunity to present itself..that is when they bet big..but never all in..as no matter how good they get at "reading others"..there is always Lady Luck..or should I say Lady Unlucky..to deal with!
a little knowledge is a very dangerous thing.. especially when it comes to trading..much better to know that you really know nothing and the best bet is to play the odds..of course..in order to maximize one has to be some bit clever..it is not for those who are not able to think for themselves!
you sound like me years ago..and..fwiw..I made some good money..but just gave it all back again..many times over
support and resistance. .yes..definitely..as for the rest..not in my book anyway
candles..bar charts are better I think..there is a reason why and it has to do with something called "balance"..ask your trading buddies about this..it will be interesting to see what they say
I gave up trading some time ago..but have decided to return shortly..when I started to look at the charts again I was surprised how much I had forgotten..took me good few hours to just get the basics even sorted..the micro emini contracts are going to be very handy for getting back into the swing of things..as it does take a while to get into good form..as..it is all about YOU..not the markets!
Simple question: how did that happen ? What was your big mistake ?
Why come back ?
I understand that...I have great technology, but the major issue is managing what's between my ears.
That trumps everything...trading platform, data feed, custom indicators, etc, etc.
overtrading
for one reason and one reason only..make some money to supplement retirement income..and..to keep the brain active
after risk management..the most important thing is discipline..easier said than done..which is why I am waiting for the micro e-minis next month..I know only too well the pitfalls of trading the e-minis..once you are in good form it really just becomes a matter of time!
I pay no heed to what others post anywhere..unless they are genuine and make sense..which the majority are not..or do not..be careful trading with others..been there and done that..unless it makes perfect sense and the reason can be clearly identified as repeatable enough to limit risk substantially..then..forget it..most confuse luck with skill.. especially those who use TA such as fibs.. stochs..Elliot..CCI..and the rest of the silly mathamatical equations
P.V.T is what matters most!
PVT ?
yes..have a think about it..what matters most in relation to a low risk entry..forget about winning for now..if one can get enough low risk entries during the day..then..making money will follow..do you agree?
wrbtrader,
Thanks
I swear this is the best post of last week. Atleast for me, because for every trade I take and make profit, I always play Sheriff Hindsight Analysis and it really gets annoying.
%%
Huge problem getting out to early?? Ok.Too much size+ to little dividends+ to little chart study.Its a bull market you know; do you know that+ if you really knew that= you would not enter exit so much??
I got out + back in with MAR weak , weak sell off,; so when we are wrong make an adjustment. Size?? Try SPY...... Syswize+ by the way its up more than 15%+ dividends YTD. SQQQ pays a good dividend-that may not help much until it keeps closing above 50 dma/OCT-DEC 2018 .NOT a prediction, not an action addict.
PS; that does mess with your mind when you exit/stop + it keeps going up again= but uptrending bull markets do that all the time/mostly LOL. When all else fails, do like Rich Dennis does- cut back on size when losing, or better yet ,study monthy , money making charts.