How do you guys prepare for you intraday trading ?

Exactly. In my opinion having a well thought out plan/strategy where there is really no room for overthinking is best. Trading is such a complete mindf*ck at times. Once you take the emotional/ overthinking part out it's really kind of easy. Pull the trigger when the trade is there. Know where you are getting out for Profit/Loss. That being said it still happens once in a while to everybody. Myself included. Over time you remember how wrong it was and you do it less.
 
cashclay said:
THis something i dont understnad how can there be a premarket trend if the markets are closed? My broker doesnt show any of that, instead it takes off right where it left to the other day
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Google 'premarket' trading/trend. it's such a thing that exists.
There are platforms that display this trend...generally speaking...this trend will indicate the normal day's trading hours trend.

But keep in mind, this is just one small tidbit of info that determine's success in the markets. There's a plethora of variables in play that one needs to master.

Good luck in your journey to the promise land, you'll need it. it's a long walk
Moses.jpg
 
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EPrado said:
I'm a fan of going through the markets as they open, putting out orders in the ones where I see the set up, then as the market comes near the open order I start coming up with reasons why I shouldn't take the trade, as it gets real close I now completely talk myself out of the trade and cancel the order. The market then hits that area, sits there like a bus with passengers getting on, then the bus gets going again and arrives at Exit Profit level and everybody except me gets out with their profits in hand. Usually those trades are easy winners....no heat.
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Classic! I'm still guilty of doing that, especially if I have an order resting at some distant key S/R level and by the time price is almost there it seems way to strong/weak for the level to hold, then it holds as if a wall was sitting there and makes a fine opposing run without me. :confused:
 
NoDoji said:
Classic! I'm still guilty of doing that, especially if I have an order resting at some distant key S/R level and by the time price is almost there it seems way to strong/weak for the level to hold, then it holds as if a wall was sitting there and makes a fine opposing run without me. :confused:
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Yeah.....to me those are the worst. I can get my ass kicked trading one day and you would never know it. But if I miss a winning trade that I was suppose to do I am not a fun person to be around.
 
Just remember that emotional turmoil typically comes from a lack of knowledge/methodology and overleverage with scared money. Sort these out and I'm sure any emotional issues will auto-correct without any need for Mark Douglas. :)
 
Laissez Faire said:
Just remember that emotional turmoil typically comes from a lack of knowledge/methodology and overleverage with scared money. Sort these out and I'm sure any emotional issues will auto-correct without any need for Mark Douglas. :)
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Sorry man, but this is pretty much just a blanket statement you are throwing here. Might apply sometimes, but not a "main" reason. Some of the biggest emotional outbursts on trading desks I have seen over the years have been the biggest traders/partners in the firm. And they are far from trading scared money.
 
EPrado said:
Sorry man, but this is pretty much just a blanket statement you are throwing here. Might apply sometimes, but not a "main" reason. Some of the biggest emotional outbursts on trading desks I have seen over the years have been the biggest traders/partners in the firm. And they are far from trading scared money.
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But plenty of them are gamblers...

What do you mean with 'far from trading scared money'? History is full of corporate players that took on too much risk. It's the same thing.
 
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