Son of If You Can Draw a Straight Line . . .

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Quote from timokrates:

You use the same "toolset" used here? And place your stop limit orders a certain distance away also?
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Mostly it's the same. You'll have to do some forward testing to become comfortable with what you prefer. Play around and get accustomed.

Your intra-day mentality will try to take over at the beginning, as you'll be able to see turns on 1 min before the daily. So obviously you start questioning whether it's wise to stay in or exit, while the price is going against your position. After grappling with this dilemma you'll eventually get comfortable with what is required and let price have some room.

There is an adjust period but the main thing is we get to use the same thinking and tools for EOD that we use for intra-day. What is more important is what you feel comfortable doing. Just because I prefer it doesn't mean you may also prefer it. Find your own comfort zone and know that you can always go back or have a mix.

Gringo
 
As a try of mental cleaning I post my trades of the day - which after 8 trades and 4 losers ended breakeven...



Except of the second, third and the last trade this looks pretty bad.

As mentioned before I have a lot of trouble with the exits. This manifests in most of the trades - if not all.

Trade 1: Merely a "scalp" - which has nothing to do with the approach.

Trade 2: Nice entry, but clearly missed the exit.

Trade 3: Legitimate entry, exit missed again.

Trade 4: Stop and Reverse, obviously not the right thing within the choppy enviroment, which I missed to realize.

Trade 5: Exit much too late (bad fill as well).

Trade 6: Late entry, did not go, exit quite ok.

Trade 7: At this time I was fully aware of the hinge (thanks DB), decided to take the risk, but stayed in too long again.

Trade 8: After all the mess, I'm kind of proud that I waited patiently, took the trade after the next failure at the apex and rode it down. I saw the potential of the trade - even if the exit was still far away from perfect.
 
Quote from Gringo:

There is an adjust period but the main thing is we get to use the same thinking and tools for EOD that we use for intra-day. What is more important is what you feel comfortable doing. Just because I prefer it doesn't mean you may also prefer it. Find your own comfort zone and know that you can always go back or have a mix.

Gringo
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Of course, yes..

And thanks a lot...

Even if intraday trading is still pretty rough, I see that it is doable.

The thing on my side is "commitment" I believe. I'm investing a lot of time but not always wise. This way it is not as fruitful as it could be. Changing to something what seems to be "easier" is obviously not the way to go.
 
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