Markets are just plain boring right now.
- Thread starter myminitrading
- Start date
If you can't make money in the current market..... you can't make money.
It's not supposed to be "fun" or "exciting". Personally, this is my chosen profession and it's work. These are typical summer days and if aren't able to find ways to make money in these types of markets, well you'll be finding new work in about a year or two because you're going to be wiped out anyways.
Never mistake a bull market for brains! Unfortunately most here are undercapitalized and inexperienced and will be paying dearly sooner or later for these two deficiencies.
There are hundreds of ways to make money in these markets, the trick is that you have to know what kind of market you're in.
Good Luck!
It's not supposed to be "fun" or "exciting". Personally, this is my chosen profession and it's work. These are typical summer days and if aren't able to find ways to make money in these types of markets, well you'll be finding new work in about a year or two because you're going to be wiped out anyways.
Never mistake a bull market for brains! Unfortunately most here are undercapitalized and inexperienced and will be paying dearly sooner or later for these two deficiencies.
There are hundreds of ways to make money in these markets, the trick is that you have to know what kind of market you're in.
Good Luck!
Quote from Landis82:
Yeah, the energy and oil drilling sector is a TOTAL BORE.
Valero isn't even worth trading these days . . .
Yep. misery. And the money I made buying CMI TSL FSLR and JASO today is hardly worth mentioning. SNore.
Today was tough for my trading style. A quick V bottom in the ES and then a slow grind upward. I don't drink the buy the dip no risk koolaide, so I have to wait for a set up or nada. I was surprised by the lack of volume in the ES today RTH approx 670k! What happened to over 1 mil every day. Come back from the Hamptons Gecko I need your volume for my set up to work.
Stay up a bit and trade HSI in the evening ... hell, sleep in tomorrow morning.
personally, i concentrate about 90% of my trade volume on one market (YM).
(i do investing, but that's investing not trading. when i trade, i mostly trade YM)
if you are going to concentrate on one market you must either
1) be able to adapt to different market environments
2) or only trade those days that meet your criteria for trading
iow, many traders like to trade "breakouts" and relatively low volatility/narrow range days like today tend to chop these type of traders into little bits.
but that's because they are trading the wrong way
i LOVE days like today. they are VERY VERY VERY tradeable. you just have to recognize the character of market (i find market profile very helpful for this) and trade the market AS it is, not as you want it to be.
for example, on a lower volatility environment, fade plays are generally preferred, and one can use larger size and smaller stops than one would use in a high volatility environment
thus, risk and potential profit are the same regardless of market environment
if you use a 10 pt stop with 6 contracts in a low volatility environment, you are risking $300 for a stopped out trade. in a higher volatility environment, i might use 3 contracts but a 20 pt stop
you have to trade the market in front of you.
and fwiw, on average only 4-6 days a week qualify as "trend days" (which so many traders seem to like). one man's "chop" is another man's profitable ATM
(i do investing, but that's investing not trading. when i trade, i mostly trade YM)
if you are going to concentrate on one market you must either
1) be able to adapt to different market environments
2) or only trade those days that meet your criteria for trading
iow, many traders like to trade "breakouts" and relatively low volatility/narrow range days like today tend to chop these type of traders into little bits.
but that's because they are trading the wrong way
i LOVE days like today. they are VERY VERY VERY tradeable. you just have to recognize the character of market (i find market profile very helpful for this) and trade the market AS it is, not as you want it to be.
for example, on a lower volatility environment, fade plays are generally preferred, and one can use larger size and smaller stops than one would use in a high volatility environment
thus, risk and potential profit are the same regardless of market environment
if you use a 10 pt stop with 6 contracts in a low volatility environment, you are risking $300 for a stopped out trade. in a higher volatility environment, i might use 3 contracts but a 20 pt stop
you have to trade the market in front of you.
and fwiw, on average only 4-6 days a week qualify as "trend days" (which so many traders seem to like). one man's "chop" is another man's profitable ATM
Agreed. Price action has been very easy to read lately. Personally, I trade off of swing points, which instantly gives the range and volatility for the here and now. Trade between the HH/LL points in the direction of that trend until it is broken, and the money will flow your way. Some days the range is large, somedays it is narrow. Trade what you are given, not what you want to see. It's truly that simple.
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