Is day trading worth it?

helmholtz said:
I tend to base genius on facts... methodologies that clearly DO NOT work as claimed
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Since you are such a rationalist what facts support your claim that these methodologies do not work?

There are traders on here that make amazing call after amazing call. They don't share their methodologies however so it is of no help to anyone who wants to learn. (I in no way think they need to share).

BTW wasn't insinuating that ND or DBP are geniuses. I was trying to make the point that if one applies themselves in a directed manner and actually sets their ego aside and observes - they have a pretty good chance of success.
 
Trend Line Breakout Pullback setup provided one entry from the pit open in CL so far today.

If you bought the BOPB from the initial trend line, the setup signaled and triggered a long entry between 9:20 and 9:24am eastern time with no adverse excursion.

If you bought using an adjusted trend line, moved slightly higher to accommodate the failed break* at the pit open, the setup signaled and triggered a long entry between 9:25 and 9:32am.

* Why was there no long entry triggered off the TL break at 9:03? Because price never turned back in the direction of the breakout until it had already dropped 26 ticks almost to the lower trend line. The signal is void without an entry ever triggered. That's the benefit of using stop orders to enter a position rather than assuming the pullback will hold.

If you're following DB's method of managing the trade after entry, you're still long for quite a nice gain.

If you're a scalper, you took your profit from this setup.
 
dbphoenix said:
Of course. How are you going to trade any size if there's no liquidity? You can't retire trading one contract.

1016 Notice that we never got to 59, much less past it.

1018 Sellers having a little trouble finding buyers to take the ask

1020 A little recoil here. If price returns to the entry, the trade will be scratched.

1025 And out. And back in the range.
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so what's up with call? long/short?

Thank you!
 
NoDoji said:
Trend Line Breakout Pullback setup provided one entry from the pit open in CL so far today.

If you bought the BOPB from the initial trend line, the setup signaled and triggered a long entry between 9:20 and 9:24am eastern time with no adverse excursion.

If you bought using an adjusted trend line, moved slightly higher to accommodate the failed break* at the pit open, the setup signaled and triggered a long entry between 9:25 and 9:32am.

* Why was there no long entry triggered off the TL break at 9:03? Because price never turned back in the direction of the breakout until it had already dropped 26 ticks almost to the lower trend line. The signal is void without an entry ever triggered. That's the benefit of using stop orders to enter a position rather than assuming the pullback will hold.

If you're following DB's method of managing the trade after entry, you're still long for quite a nice gain.

If you're a scalper, you took your profit from this setup.
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The key word here being "if". You're describing what happened.
 
NoDoji said:
Trend Line Breakout Pullback setup provided one entry from the pit open in CL so far today.

If you bought the BOPB from the initial trend line, the setup signaled and triggered a long entry between 9:20 and 9:24am eastern time with no adverse excursion.

If you bought using an adjusted trend line, moved slightly higher to accommodate the failed break* at the pit open, the setup signaled and triggered a long entry between 9:25 and 9:32am.

* Why was there no long entry triggered off the TL break at 9:03? Because price never turned back in the direction of the breakout until it had already dropped 26 ticks almost to the lower trend line. The signal is void without an entry ever triggered. That's the benefit of using stop orders to enter a position rather than assuming the pullback will hold.

If you're following DB's method of managing the trade after entry, you're still long for quite a nice gain.

If you're a scalper, you took your profit from this setup.
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Thank you for your efforts, not falling on deaf ears. Would you mind posting a pic of 5 min showing how you draw initial TL. Better yet let me draw mine and you can comment.

Bad student, asking (temp, unpaid) teacher to do his work.

You draw your TL's on the 5 min and then when broached, look to 1 min for possible entry?
 
Laissez Faire said:
The key word here being "if". You're describing what happened.
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Laissez Faire: "Right now I'm not trading. I'm a full-time student of mathematics and physics, devoting most of my time there. But I'm still attracted to the markets and I am planning my return, just not sure if going back to day trading is worth it or even if I have the time to do so. Any thoughts on the subject?"

I'm pointing out occurrences of a common price action day trading method that offers positive expectancy within the framework of a day trading business plan, so you have at least one trading method upon which to base your decision to day trade or swing trade (this is a common swing trading entry method as well).

It's your thread; if you're confused or feel misled by my posts, please let me know and I'll abstain.
 
Tonkadad said:
Thank you for your efforts, not falling on deaf ears. Would you mind posting a pic of 5 min showing how you draw initial TL. Better yet let me draw mine and you can comment.

Bad student, asking (temp, unpaid) teacher to do his work.

You draw your TL's on the 5 min and then when broached, look to 1 min for possible entry?
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You got it :)

That looks like the initial trend line break, for a no-heat entry off the 1-min pattern.

Thanks for the organic Gala...one of my favorites :cool:
 
NoDoji said:
You got it :)

That looks like the initial trend line break, for a no-heat entry off the 1-min pattern.

Thanks for the organic Gala...one of my favorites :cool:
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Love the no heat entries. Are there any other trades you took today?
 
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