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My journey: Stocks to eminis, scalping to strategy
- Thread starter candletrader
- Start date
Quote from easyrider:
The market invariably gives you one or two trades a day that are no-brainers. My problem is still boredom so I try to scalp during the day to keep my interest up but it is a breakeven venture at best.
I have the same problem, except on a wider time frame. All my setups combined produce about 2-3 signals a week across several markets, the rest of the time is just waiting. It took a very long time to adjust to a different pace of trading; I still allow myself a few higher frequency intraday setups that probably net out to breakeven or worse, just to maintain my focus. But I limit those trades to a fraction of my usual position size.
Quote from easyrider:
The market invariably gives you one or two trades a day that are no-brainers. My problem is still boredom so I try to scalp during the day to keep my interest up but it is a breakeven venture at best.
No reply requested.
Regarding your exits. Have you ever run the same chart on two screens with one of them upside down?
Buy the book "Drawing on the Right Side of your Brain". Chapter Four, entitled: Crossing Over: Experiencing the Shift From Left to Right. (pg 47 onward). Do the drawing on page 52 and post it.
I just had the experience over a few days of seeing a bunch of people blow an opportunity. Here in this thread I found out even more than I could ever expect in a short while.
About once a month a terrific transference idea emerges from another person's observation on things of common interest. Here three in this thread three happened and yours is the the most profit making per square inch.
Trading goes through a series of shifts in gear or advance from one level to another. Candle is super eloquent in his descriptions of such moves.
Here you are on the verge of a big shift. You end your trades on market paces that you have down cold and for the slower paces, you do not enjoy the grind attention span required.
What if? What if you begin to extend your activity through the bridge from faster pace trading towards the other boring area of the market?
The unusual path may be to better develop your angle of view of the market by going closer to having a neutral bias. Your trading indicates that you do not have a truly neutral bias.
So switching from one side of the brain to the other for a while may give you a more ambidextrous viewpoint.
a while back i suggested to an early leaver, that he look at the situation of NOW for its potential as yet another netrance and thus continue to hold until there were no more entrances.
Now going a step further, why not debate the exit with two screens, emphasing gaing a neutral bias at the same time. humously, I am suggesting it is a left/right issue and it really is.
What could happen is that the exercise might allow you to "see" that you are good at your faster pace exits and they could be cogent reversals that lead into less than fast paced market trading.
It is hard in making money to deal with non extreme trading situations. Almost all edge trading is down at one side of the range of market paces. Scalping is, of course, the non-pace considered trade.
I think these two recommended efforts (drawing and the two screen viewing) will take you into another level of money velocity at no greater emotional risk at all.
Since candle has such an elegant thread rolling I especially request that the usual responders forgo their postings about their deep needs to counter my contribution.
Attaining a neutral bias is a big step towards getting the "hope" part of trading to dissappear. You are not a "hoper"; this is just a side comment to the ET majority.