Intraday does not make sense.
- Thread starter TTT
- Start date
So true Handle...so true...be well my friend.
ES
"Control" is an illusion, you can't control your heart beating and can't control anything on this Earth, and we all one day will die. What we can do is accept knowledge, research to make it ours. I know anything that I use to think would never happen, will do again.
ES
"Control" is an illusion, you can't control your heart beating and can't control anything on this Earth, and we all one day will die. What we can do is accept knowledge, research to make it ours. I know anything that I use to think would never happen, will do again.
What I have observed about trading at support & resistance, especially the major ones, is that price can swing around that area huge & fast for some time too. It can really hit you hard if you are caught trading against it. Example - If you think that there will be a bounce from support, and price suddenly penetrates through it huge, how fast can you get out? Handle123's video is a good show of what can happened. Stops might not help if you are filled at a bad price...
"It is not the critic who counts; not the man who points out how the Day Trader stumbles, or where the doer of deeds could have done them better.
The credit belongs to the man who is actually in the Arena, whose face is marred by VPOC's and sweat and blood, who strives valiantly;
who errs, who goes short (or long) again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds;
who knows great enthusiasms, the great devotions; who spends himself in a worthy cause;
who at best knows in the end the triumph of high achievement, and who at worst, if he fails, at least fails while daring greatly,
so that his place shall never be with those cold and timid Trolls who know neither victory nor defeat."
The credit belongs to the man who is actually in the Arena, whose face is marred by VPOC's and sweat and blood, who strives valiantly;
who errs, who goes short (or long) again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds;
who knows great enthusiasms, the great devotions; who spends himself in a worthy cause;
who at best knows in the end the triumph of high achievement, and who at worst, if he fails, at least fails while daring greatly,
so that his place shall never be with those cold and timid Trolls who know neither victory nor defeat."
Is this your quote or is there a source?
You can backtest your strategies without automation or codes. Yeah, its more time consuming but you can learn more about the price action you plan to be trading in comparison to backtesting via codes/program.
As for the needed quantitative statistical analysis about your trading...you can easily use a professional trade journal software and let it do all the stats work for you regardless if you're on simulator or real money trading.
Reality, too many individuals take up trading without doing any backtesting or any kind of extensive testing of their strategy. They just jump in feet first and they'll just "figure it out" while trading instead of doing their backtesting prior to trading with real money.
wrbtrader
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You do know that Warren Buffet have individuals working for him and with him. ?
He has access to more info than the typical investor and he has the finances to do better research than the typical investor.
Also, you do know not to compare apples to oranges as in trading versus investing...people have gone broke doing either (trading or investing).
If you're looking for a "safe solution" or "guarantee"...put your money in a savings account or buy art and resell it 10 - 30 years later. Yet, its ok to stay away from trading if you're not suitable for it and then find something else to do.
Most people just are not suitable for trading even before they begin trading and most people are not suitable for investing too. Both (trading/investing) are things involving having the money (income not needed) to put into it.
wrbtrader
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