shell shocked

speedo said:
Mickey, if you have clearly defined signals and the ability to adhere to the rules of your plan, it's not that tough. What is tough is the road getting to that point. The days eventually become routine and relaxing. The idea of holding overnight is what gives me the shakes.
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Holding overnights - currently in the mid six figures and totally relaxed.
When the pace is slow I have time to think, plot, strategize, calculate and weigh up the risks.
Money makes money, so I continue to compound and keep it engaged when times are ripe for picking the fruit. There will be times I could be sitting pat, out of market twiddling thumbs for weeks or months (heaven forbid).
Right now is harvest time on the Metals stocks so holding overnights and watching prices steadily climb is the plan playing out.
 
themickey said:
Holding overnights - currently in the mid six figures and totally relaxed.
When the pace is slow I have time to think, plot, strategize, calculate and weigh up the risks.
Money makes money, so I continue to compound and keep it engaged when times are ripe for picking the fruit. There will be times I could be sitting pat, out of market twiddling thumbs.
Right now is harvest time on the Metals stocks so holding overnights and watching prices steadily climb is the plan playing out.
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I knew a car dealer who once said..."There's an ass for every seat." :D
 
themickey said:
Holding overnights - currently in the mid six figures and totally relaxed.
When the pace is slow I have time to think, plot, strategize, calculate and weigh up the risks.
Money makes money, so I continue to compound and keep it engaged when times are ripe for picking the fruit. There will be times I could be sitting pat, out of market twiddling thumbs for weeks or months (heaven forbid).
Right now is harvest time on the Metals stocks so holding overnights and watching prices steadily climb is the plan playing out.
More...

Sounds like a story i read, I'm sure you've read it. Reminiscences of a stock operator. Hopefully you don't end the same way. But as I've said in the past theirs many ways to skin a Cat, I'm glad its working for you.
 
Um, because it works. I have not studied day trading specifically (I'm more of a week or month trader), but in any longer time frame, buying new highs just works, if you do it consistently.
 
drcha said:
Um, because it works. I have not studied day trading specifically (I'm more of a week or month trader), but in any longer time frame, buying new highs just works, if you do it consistently.
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Do you have data on that drcha?
 
Yes, sometimes it becomes too much tacky to give continuous focus on strategic decision making. But it is not that much mind-numbing or that complicated to take decision. If that so, none will be able to trade as day trader. What gives me relief is that I am working with mini accounts and smaller trading lots so that I can provide full concentration on my trading decisions, trading strategies and approach properly.
 
themickey said:
90 to 300 trades a day! Mate, that is some activity! :) - serious trading. :)
When you say 23 hours a day, I assume you mean you have the option to trade any window of 23 hours?
In reality, how many hours do you set yourself to?
I place on average about 5 trades a week. Yesterday jumped back into gold again with 6 positions simultaneously and that was 10 minutes (trading on a crappy ING platform which came out of Noah's Arc). The rest of the day spent on research plus went to restauraunt for wife's birthday lunch for a couple of hours.
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When I got automation going, you can be anywhere in the world, and have the software on a company's servers to trade as many hours exchanges are open. I put on zero trades now manually, never enjoyed that in first place, plus when I manually scalped ES, my eyes have to be only on this market, have over 50 instruments being traded with same scalping systems. I spend approx. 80 hours a week developing systems, studying risk management and cycles, I want to work towards different kind of business in 1-2 years, and don't believe in retirement, none of this is work to me, I love what I do.

MattZ said:
In my opinion Day Trading is about the choice of risk not always about the frequency of trading. Those who day trade do not want to have overnight exposure and choose different parameters to evaluate the markets. To the outside beginner, day trading seems like one universe where a day trader must make a decision and trade each moment. In reality, I find that most day traders vary in their frequency of trading, size and risk tolerance.
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I don't know what many people do as far as duration of holding or how they view risk, everyone has different knowledge and many are just plain lost. Although most of my automation is geared to intra-day, 70% of my holdings are long term systems in stocks/dance options around them and very long term in commodities. Way too many traders get out with little chunks in commodities when they could be looking at nine year charts and try to capture 75% of the range minus gaps and rollovers, if you don't know how to hedge leveraged products=learn. . I could care less about overnight exposure, whatever I can develop and backtest to my parameters of happiness is all that counts.

I have learned many ideas from older parts of ET, but todays' trader don't want to spend the time to study and learn...............Got to get some sleep, surgeon can't wait to play 3rd time on me tomorrow.
 
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