Miserable trading market

[speedo]

Troll....shuda figured

 

[BONECRUSHER]

I am not a daytrader, I am looking at the daily time frame, and it is chop chop chop. But I guess we have all supertraders here who crush the HFTs intraday everyday regardless of trend or range day. Hoo ha!

I'll give you one tip about HFTs...choice of trading instrument is paramount..that's all I'll say about that. I don't know how you guys trade the daily TF...gaps and all news is reacted on by word interpreting algos...sounds so frustrating...I couldn't do it. If you sat next to me during trading hours, you would find my process very unspectacular, but I do find intraday chop much easier to exploit than DAILY CHOP! GOOD LUCK!!!

 

[BONECRUSHER]

I am not saying that there are not any successful daytraders. It is just that the odds are much less favorable for non HFT daytraders than for longer term traders who focus on fundamentals, data, sentiment, and investor positioning. I am sure those successful daytraders would make a lot more money if they decided to expand their time frame to catch bigger moves.

Most of my net worth is in retirement accounts...all created by investments and position trades. My income is from intraday swing/scalping. I plan on keeping both methodologies as long as I can...both have been a good dual diversification...in case one or the other fails! For me, I would never trade on 1 minute time frame...good luck to those that do...but I do trade off of the DOM, trying to interpret buying or selling pressure.