Intraday does not make sense.
- Thread starter TTT
- Start date
ES is up 22 points? So ES is not at a loss today? Yes, it was a bold call. But it was wrong.
Perhaps instead of looking at the trees, look in between the trees.
The four “patterns” you mentioned can be profitable in the right context or the right conditions. It seems to me, one of the keys for you in short term trading is to find the context and conditions that work for your patterns. This takes screen time.
There are also several patterns that you did not mention. Remember, when a pattern is not working, especially on a fairly frequent basis, consider there is a pattern that fits the other, winning side. Again, screen time is your friend here.
No shame in trafing on a simulator or very small size until you obtain consistency.
By the way, because of external events, including large orders suddenly appearing and the fact patterns are usually subjective, at least to an extent, no pattern or one’s interpretation of a pattern is a guarentee of a profitable trade. Conditions change, and stops serve to protect us from these changing conditions or our misinterpretations of the trading conditions in the instrument we are trading.
Does TraderEX see it?
You should not feel embarrassed.
Continue trying.
That fractal BS is BS. It's what you're led to believe to keep you in the game.
I dont know about fractals or anything like that but there are some fundamental rules to price movement that I have observed with my own eyes in the liquid futures markets. The same things happen over and over again in all the timeframes just takes much longer to play out on the bigger charts.
For the record, even though I was defending intra day trading, most of my trades are over night holds.. not intraday.. but I do see the value in intraday trading if one has the required skill set.
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While I agreed that long-term trading/investing can provide superior returns and risk adjusted returns, it does NOT preclude the possibility of intraday trading profits. Market makers, by definition, trade intraday. Scalpers especially automated bots trade intraday profitably. And even manual intraday swing traders can trade profitable.
I've seen enough intraday range from various futures contracts to say that there's definitely enough room to make thousands per day. I'm not saying it's "easy", but it's doable. Perhaps not every day. I wouldn't totally discount that. Perhaps the average daytrader can't do that because they are scalping for ticks when they should be holding for longer intraday swing trades with higher profit potential.
Just trying to balance out the discussion here.
I've seen enough intraday range from various futures contracts to say that there's definitely enough room to make thousands per day. I'm not saying it's "easy", but it's doable. Perhaps not every day. I wouldn't totally discount that. Perhaps the average daytrader can't do that because they are scalping for ticks when they should be holding for longer intraday swing trades with higher profit potential.
Just trying to balance out the discussion here.