I do something similar; however, When your positions dont move, it can be reallllll boring.
"Low maintenance" position trading
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I do something similar; however, When your positions dont move, it can be reallllll boring.
i use esignal for live data.
i buy historical data off a small vendor in australia
If you're only checking the market once a day, then at least you can go off and do something else to fill your time and then come back to it the next day.
If your positions aren't moving in day-trading, then you're still glued to the screen for a few hours waiting for something to happen whilst the world passes you by outside.
Thanks
Damian
U.S. Share Trader
The "WORLD" is in front of you watching the screen. The reason you trade is to enjoy the "WORLD".
MYSELF, i am not tied to doing this or that in certain amount of hours etc. I do what i want to do, how sweet is that?
Trading in my opinion is a full time job, it is a business, it is a profession, it is a job, it is what you do, it is what you enjoy, etc.
Trading can be and always will be boring at times, just like at times it will be exciting and will show the trader what he/she is made of.
I daytrade, i daytrade because of all the reasons above. if i wanted to just be a "part time" trader i would rather quit trading 100% and enjoy the fruits of all that "SCREEN TIME".
Folks, let me put this as easy as i can, this profession is not easy, it is going to control your life, it will kick your butt, it will love you. To think you can simplify it in the first few years you are wrong. ...........LATER, much later you might become a daytrader or swinger if preferred...BUT, that level of expertise is not going to be achieved without many years of practice and skill honing. To think anything else is a wishful thinking starry eyed wannabe. GOOD LUCK
It took me a long time to wake up in the morning and have "NO IDEA, OPINION" of what might happen once the SP500 pit opens at 0930 EST and KNOWING i will make money that day. Do i make money every day? NO. do i lose on some days , not hardly. Did i pay my dues to reach this point ? You betcha. .... Will you ever get to this point? Then forget about trading for a hour or two a day. :Later
MYSELF, i am not tied to doing this or that in certain amount of hours etc. I do what i want to do, how sweet is that?
Trading in my opinion is a full time job, it is a business, it is a profession, it is a job, it is what you do, it is what you enjoy, etc.
Trading can be and always will be boring at times, just like at times it will be exciting and will show the trader what he/she is made of.
I daytrade, i daytrade because of all the reasons above. if i wanted to just be a "part time" trader i would rather quit trading 100% and enjoy the fruits of all that "SCREEN TIME".
Folks, let me put this as easy as i can, this profession is not easy, it is going to control your life, it will kick your butt, it will love you. To think you can simplify it in the first few years you are wrong. ...........LATER, much later you might become a daytrader or swinger if preferred...BUT, that level of expertise is not going to be achieved without many years of practice and skill honing. To think anything else is a wishful thinking starry eyed wannabe. GOOD LUCK
It took me a long time to wake up in the morning and have "NO IDEA, OPINION" of what might happen once the SP500 pit opens at 0930 EST and KNOWING i will make money that day. Do i make money every day? NO. do i lose on some days , not hardly. Did i pay my dues to reach this point ? You betcha. .... Will you ever get to this point? Then forget about trading for a hour or two a day. :Later
excelent post bighog . I'm at the 1st stage after being fired from my job. I've lost a shit load of money I'll admit, in just the last few months . I come in for the most part clueless but my worst ememy is coming in with an opinion each morning which 99.9% of the time i'm wrong about . I look at the chart afterward and see it as plain as day what i should have done .
phil1424
you ARE reviewing the days action after the bullets quit flying and reviewing the battle. EXCELLENT
I did the same thing, after you start seeing the same mistakes over and over, ..........BOOM, it hits you.
Mistakes are for learning, they are like a mommy, they are your friend, mistakes are just roadmap telling you where you can do better (once they sink in).
Do this, TRADE smaller, do not be a hero to start. remember your first mission is to learn how to "NOT LOSE MONEY". The rest will fall into place as you refine the skills and experiences from the learning period.
Be patient, but trade small, save the money for the better days that are ahead as long as you do as you are doing in "RECOGNIZING" why you are losing money now. good luck
you ARE reviewing the days action after the bullets quit flying and reviewing the battle. EXCELLENT
I did the same thing, after you start seeing the same mistakes over and over, ..........BOOM, it hits you.
Mistakes are for learning, they are like a mommy, they are your friend, mistakes are just roadmap telling you where you can do better (once they sink in).
Do this, TRADE smaller, do not be a hero to start. remember your first mission is to learn how to "NOT LOSE MONEY". The rest will fall into place as you refine the skills and experiences from the learning period.
Be patient, but trade small, save the money for the better days that are ahead as long as you do as you are doing in "RECOGNIZING" why you are losing money now. good luck
Only boring if you are at your screen... I have got more enjoyable things to do during the bulk of the day... I am only at the screen for 1-2 hours, with 2 being very rare...
I think the issue is timeframes. Intraday moves require stealth and its hard to catch every move. I think a lot of traders position trade and maybe trade around the core position. On stocks I am not that interested in daily moves unless they are event driven, but I am not paying my rent on an intraday stock; some are. The idea of low maintenence may not be true as drawdown is drawdown, regardless of timeframe. For me a low maintenance position would be the one that wins out of the gate; the tough ones are the losers. Cutting losers short is hard, and I think holding winners is even harder!!
phil1424
Agreed, this game of trading is indeed "MAINLY" based upon the individuals self discipline. Being honest to the core, many would agree that TA is not only quite easy to understand and works as good today as it did 100 years ago.
Many whiz kids just can not bring themselves to admit just how easy the KISS method works. Can you imagine how awful some brain would feel at some cocktail party when a classy lady dressed to kill walked up and asked "Hey, Stud, What do you do for a living?" he would feel insecure to say anything less than, "i am a math wizard and use bots to unlock the holyqrail "
The answer is in the head, it is in how well a trader can avoid the trappings of complicated and useless dribble.
"Conditioned Response" Here is how you learn to trade. Think of yourself as one of Pavlov dogs. Put a small trade on and try the trial and error response to this or that, sooner or later you will sniff your way to the rewards just like the dogs did.
The "Conditioned Response" (read automatic) is your goal, their is a holy grail in trading. The holy grail is to learn and practice simplicity. Stick to what instrument you prefer, learn it inside out. One of my problems when moving to Futures from stocks was playing the field. (i settled on ES on 5 minute chart). Today i trade just that one. Focus on the one you love and she will reward you back in spades. Happy learning
Check this out. On weekends i do not care one iota about mkt. Up until 0930 ET i have no opinion, i care less. Once the pit starts trading then i watch and let the mkt tell mr what to do. Let the mkt tell you what it wants YOU TO DO>
A tidbit: if you are going to be a trader, then do not be an analyst, opinions are your WORST enemy. TRADE WITHOUT OPINIONS>>>>>>>>>>>>>>> NONE. Once the mkt opens then you will learn to predict what the mkt will do, probabilities work. opinions are left to gurus. Later
Agreed, this game of trading is indeed "MAINLY" based upon the individuals self discipline. Being honest to the core, many would agree that TA is not only quite easy to understand and works as good today as it did 100 years ago.
Many whiz kids just can not bring themselves to admit just how easy the KISS method works. Can you imagine how awful some brain would feel at some cocktail party when a classy lady dressed to kill walked up and asked "Hey, Stud, What do you do for a living?" he would feel insecure to say anything less than, "i am a math wizard and use bots to unlock the holyqrail "
The answer is in the head, it is in how well a trader can avoid the trappings of complicated and useless dribble.
"Conditioned Response" Here is how you learn to trade. Think of yourself as one of Pavlov dogs. Put a small trade on and try the trial and error response to this or that, sooner or later you will sniff your way to the rewards just like the dogs did.
The "Conditioned Response" (read automatic) is your goal, their is a holy grail in trading. The holy grail is to learn and practice simplicity. Stick to what instrument you prefer, learn it inside out. One of my problems when moving to Futures from stocks was playing the field. (i settled on ES on 5 minute chart). Today i trade just that one. Focus on the one you love and she will reward you back in spades. Happy learning
Check this out. On weekends i do not care one iota about mkt. Up until 0930 ET i have no opinion, i care less. Once the pit starts trading then i watch and let the mkt tell mr what to do. Let the mkt tell you what it wants YOU TO DO>
A tidbit: if you are going to be a trader, then do not be an analyst, opinions are your WORST enemy. TRADE WITHOUT OPINIONS>>>>>>>>>>>>>>> NONE. Once the mkt opens then you will learn to predict what the mkt will do, probabilities work. opinions are left to gurus. Later