Most of my trading is now 3-7 day swing trades

[VEGASDESERT]

Transitioned away from 100% day trading.

Why?

- Able to manage 10-30-50 etc.. positions at a time. (main reason)
- Theoretically less competitive (smart hft/institutions making your life hard)
- Can put my oco orders in and not stare at the screens for hours.
- Can be 90% systematic and minimally subjective
- Faaar less emotional leading to scrambling of brain and doing dumb things..
- plenty of time to make decisions with stop and target far away from current price.

drawbacks

- less leverage (use options to supercharge your earnings and losses if you want)
- gaps past your stop (many open positions balance that out though)

 

[Buy1Sell2]

Transitioned away from 100% day trading.

Why?

- Able to manage 10-30-50 etc.. positions at a time. (main reason)
- Theoretically less competitive (smart hft/institutions making your life hard)
- Can put my oco orders in and not stare at the screens for hours.
- Can be 90% systematic and minimally subjective
- Faaar less emotional leading to scrambling of brain and doing dumb things..
- plenty of time to make decisions with stop and target far away from current price.

drawbacks

- less leverage (use options to supercharge your earnings and losses if you want)
- gaps past your stop (many open positions balance that out though)

Main reason is less decisions/fewer chances to be wrong. Also, support areas are much easier to define as being important or not.

 

[traider]

Transitioned away from 100% day trading.

Why?

- Able to manage 10-30-50 etc.. positions at a time. (main reason)
- Theoretically less competitive (smart hft/institutions making your life hard)
- Can put my oco orders in and not stare at the screens for hours.
- Can be 90% systematic and minimally subjective
- Faaar less emotional leading to scrambling of brain and doing dumb things..
- plenty of time to make decisions with stop and target far away from current price.

drawbacks

- less leverage (use options to supercharge your earnings and losses if you want)
- gaps past your stop (many open positions balance that out though)

Are your positions highly correlated? Now everything is just selling off if doing equities

 

[VEGASDESERT]

Are your positions highly correlated? Now everything is just selling off if doing equities

basically price action trading and i try to have shorts and longs on at the same time.

 

[VEGASDESERT]

Main reason is less decisions/fewer chances to be wrong. Also, support areas are much easier to define as being important or not.

yeah, if you think you're a decent trader there are far to many opportunities
to erase your edge intraday with stupidity . if you can manage many positions you'll be able to actually realize your edge.

 

[Buy1Sell2]

basically price action trading and i try to have shorts and longs on at the same time.

 

[smallfil]

A lot of stocks are breaking trendlines and now headed lower. Longer term, you are able to filter out most of the noise. Much easier to manage your trades too with hard stop losses to get you out fast if you have to.

 

[ElCubano]

Goes with this look

 

[Monobrowtrading]

Transitioned away from 100% day trading.

Why?

- Able to manage 10-30-50 etc.. positions at a time. (main reason)
- Theoretically less competitive (smart hft/institutions making your life hard)
- Can put my oco orders in and not stare at the screens for hours.
- Can be 90% systematic and minimally subjective
- Faaar less emotional leading to scrambling of brain and doing dumb things..
- plenty of time to make decisions with stop and target far away from current price.

drawbacks

- less leverage (use options to supercharge your earnings and losses if you want)
- gaps past your stop (many open positions balance that out though)

You’re addicted to daytrading, it will take you months to transition. 30/50 positions, Psss Please!

 

[Laissez Faire]

In my mind - day trading only makes sense if you're really cleaning up. It doesn't really make sense to invest that amount of time if you're just scraping by, win some, lose some.

Of course, it's possible that there exist individuals who can day trade profitably, but choose not to do so due to the time needed to actually trade as you do need to put in the hours as a day trader.