Hi -- I have evolved into a directional swing trader, but one with a day job in the eastern US, which means US markets are, essentially, off-limits for intraday swing trading. Any thoughts on where I might find an arena to fit my schedule. Forex is an obvious choice, except I can;t quite shake the nagging fear that it's a giant scam. So, what, then. The DAX? Hard to believe there aren't others in my boat...
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Have Job, Will Trade...Where??????
- Thread starter eagerbeaver
- Start date
Create a Black box(automated trading system)....
....and your problems are solved, just hope the black box works now that's the real problem.
....and your problems are solved, just hope the black box works now that's the real problem.
I am in the exact same boat. I trade equities during the day, however, my employer isn't a huge fan of it. I need to find an alternative to trade! If I could trade from 6-9p that would be great. I have been warned about Forex and steep competition.
Quote from eagerbeaver:
Forex is an obvious choice, except I can;t quite shake the nagging fear that it's a giant scam. So, what, then.
Your fears are well justified; beside the fact that your are playing an unfair game where your opponent has a big built in advantage, your funds are also at risk: there's no protection for you if the house go bust because of some clients refusing to honor margin calls due to over-leveraging.
And this is a likely outcome with firms promising the riches you can achieve with the big leverage they offer.
My couple of cents?
It's a no brainer, dump the idea.
Just move to the West coast!
Good ole PST works for me. My job is from 7:00 AM - 5:00 PM, so I get up around 5:00 AM and start all my systems and monitor until about 6:45 AM. Only gives me about 15 minutes of the NY open, but that's all I need.
Come on over, the weather's nice. All we have is earthquakes and the occasional tidal wave!
Good ole PST works for me. My job is from 7:00 AM - 5:00 PM, so I get up around 5:00 AM and start all my systems and monitor until about 6:45 AM. Only gives me about 15 minutes of the NY open, but that's all I need.
Come on over, the weather's nice. All we have is earthquakes and the occasional tidal wave!
Quote from eagerbeaver:
Hi -- I have evolved into a directional swing trader, but one with a day job in the eastern US, which means US markets are, essentially, off-limits for intraday swing trading. Any thoughts on where I might find an arena to fit my schedule. Forex is an obvious choice, except I can;t quite shake the nagging fear that it's a giant scam. So, what, then. The DAX? Hard to believe there aren't others in my boat...
Learn to trade for a "swing across the range". Then, entries and stops are not so price critical. You could even do it with an end-of-day model. Though guilty myself, day trading is mostly a sucker's game and best avoided.
Quote from Bitstream:
Your fears are well justified; beside the fact that your are playing an unfair game where your opponent has a big built in advantage, your funds are also at risk: there's no protection for you if the house go bust because of some clients refusing to honor margin calls due to over-leveraging.
And this is a likely outcome with firms promising the riches you can achieve with the big leverage they offer.
My couple of cents?
It's a no brainer, dump the idea.
Bitstream -- dump which idea? Forex? Or trading in general?
Quote from profit_loss:
Create a Black box(automated trading system)....
....and your problems are solved, just hope the black box works now that's the real problem.
exactly. something i just can't wrap my head around when it comes to system traders -- how do you know when a three-sigma drawdown isn't a precursor to a your account blowing up?
nope. i'm convinced there are no shortcuts. i used to be a very serious violinist. i had that thing under my chin for six hours a day at one point before i decided not to be a professional musician.
there is nothing i have seen in trading, so far, to persuade me this racket is any easier, or that "robot" trading would work any better than "robot" violin playing.
Quote from Passive Pete:
I am in the exact same boat. I trade equities during the day, however, my employer isn't a huge fan of it. I need to find an alternative to trade! If I could trade from 6-9p that would be great. I have been warned about Forex and steep competition.
How about early a.m. Have you considered the DAX?
Quote from Choad:
Just move to the West coast!
Good ole PST works for me. My job is from 7:00 AM - 5:00 PM, so I get up around 5:00 AM and start all my systems and monitor until about 6:45 AM. Only gives me about 15 minutes of the NY open, but that's all I need.
Come on over, the weather's nice. All we have is earthquakes and the occasional tidal wave!
Actually, I moved to Boston three years ago from L.A. What the hell was I thinking?!