Swing Trading For a Consistent Return

deaddog said:
Ask any trader that's been at it a while and he'll tell you to cut losses and let profits run...
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There's a problem with that theory....
a) How much loss?
b) One person's sell level is another's buy level.
c) What may appear as an unconvincing area to buy is the best buy.
d) The majority lose, the majority are wrong, the majority follow what the majority believe.
 
I have attached two charts that demonstrate the confluence of a directional Hull Change with the violation of the 23.6% retracement. UNH short and NIO long. Unfortunately by the end of the day I had losses in all my short positions and 2 of my long positions. So putting them on mid day instead of end of day hurt the day's performance. But I wanted to take my wife to Olive Garden for lunch so the markets just have to fit my schedule.

Screenshot (69).png Screenshot (70).png
 
Illini Trader said:
confluence of a directional Hull Change with the violation of the 23.6% retracement.
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Markets do not follow common rules.
Indicators will not produce magic outcomes.
The market always does what is least expected to catch as many as possible.
 
Illini Trader said:
Not to mention the nervous willy brokers that closed me out on their own even though it was obvious the IC would expire worthless.
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I find this annoying as well. I need to talk to my broker as currently I can't enter orders after 2:30 pm that expire at 3:00 pm CST. I have the cash to cover any assignments but there are opportunities that present themselves for quick straddle plays or some last hour theta crush.
 
easymon1 said:
What is your method to weed out the bs of the small cap universe?
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Rather not divulge as its part of my edge, but the way my algo is written, its biased nano, micro, small cap, so these fellas are always being presented to me to trade. When this my current algo first kicked off trading straight in real money, I lost dosh hand over fist initially.
I had to learn to discern bs from real, and that took quite a bit of learning, so I'm not wanting to just give it away publicly.
As mentioned previously, the smaller the cap, the more bs, the more unprofessionally a company will operate. BTW, large companies are not immune to bs spin but they too can be checked.
Now yesterday I bought AMP.AX, well that large cap company seems to me to be run by a bunch of greedy bastard dickhead directors. However I took a small position because I think the selling is nigh on exhausted, I have no faith the old school directors in AMP have learnt anything, they will have incompetence running through their veins imo, so I have no faith other than I'm in for probably a short term buck hopefully.
 
caroy said:
I find this annoying as well. I need to talk to my broker as currently I can't enter orders after 2:30 pm that expire at 3:00 pm CST. I have the cash to cover any assignments but there are opportunities that present themselves for quick straddle plays or some last hour theta crush.
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With the balance that you carry in your account, the position size relative to that, and your dependability to close out prior to the close, you should be granted the freedom to trade that last 30 minutes. Let your broker know you have alternatives and negotiate.
 
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