The Day Trading Thread

[padutrader]

I would like to see income statements of the last 3 years combined with broker statements of the last 3 years before I will believe any post in this thread.

then why are you here......there is no analyst or professional educator in the world who publishes income and broker's statements.

there is only one analyst and trader that i know of,and i read my first technical analysis book in 1994, that declares his trades as he makes them, to his subscribers and that is David Fuller.

you may like to see some things and i also like to receive a million usd.....best of luck to us both

 

[padutrader]

still the results would have to be independently audited by a recognized firm because even what you are asking for can be faked.

are you assuming that if some one makes money, you too can make money using his system/ method.
you have to try it out and test and see it if it works for you.

since you have to try out a winner's ideas in any case, you can try out a losers method because that may work for you.
nobody in real life goes around with proof of income taped to their shirt just to make people trust them.

 

[padutrader]

Take a pic of your PC's front-end with your phone showing the daily PNL. The time stamp will show that photoshopping (HOW?) is not possible in the time between pic and post. You can redact the account number. It's been done, Bro. Anything else is excuses.

TL;DR? No PNL forthcoming bc it can be faked?

Here. Take a pic and edit-out your positions. You can clearly see my account number and it was posted within three minutes of the headlines hitting the wire (bottom right). I've posted dozens. Fake? Wanna bet?

https://www.elitetrader.com/et/threads/es-journal-2019-2020.328086/page-284#post-4827663

well i post my trades live in my journal.nobody else in the world that i know of has ever done that.

and i made 57.56 % in this week. that can be seen in my journal.posted live as it is done with screen shots

so now what am i qualified to do? tell me, dest ,god of trading

 

[padutrader]

actually i was hoping to deliver some of my thoughts and hopefully run across some fresh ideas?

ok i will give you one totally fresh. my way of trading.

in trading there is only one thing you need to know to make good trades: counter trend strength.

that is what i identify and, to be more precise, that is what i have learnt to identify.

Apart from Al Brooks, i know of no book who has who has even mentioned it: since i cannot read all books it is possible that someone has done that.

Do not ask me to explain how i do that since i do not want to bother....i am making money and that is all i want.

all traders ask: how do i make money...that is a wrong question to ask.

the correct one:how do i understand the market?

that no one even wants to learn because it will take too long.

now why do 95% of traders lose money?

 

[Chris Michaels]

ok i will give you one totally fresh. my way of trading.

in trading there is only one thing you need to know to make good trades: counter trend strength.

that is what i identify and, to be more precise, that is what i have learnt to identify.

Apart from Al Brooks, i know of no book who has who has even mentioned it: since i cannot read all books it is possible that someone has done that.

Do not ask me to explain how i do that since i do not want to bother....i am making money and that is all i want.

all traders ask: how do i make money...that is a wrong question to ask.

the correct one:how do i understand the market?

that no one even wants to learn because it will take too long.

now why do 95% of traders lose money?

I do the same. I don't want or desire continuation trades unless I find it using the DMI. Other than that it's counter trend trying to spot a full on reversal. I keep up with short info and dark pool. Other than that, it's all compression expansion. Be well.

 

[SimpleMeLike]

i think as day traders many get tangled up with micro momentum moves and have no big picture guidance.

MarkBrown,

Attached is a 3 minutue and 1day chart.

I respect what you are saying. I get caught up in the mircro momentum moves, because those moves come with less risk (smaller stop loss) per price action at the momentum.

When I am trading my 3 min chart, I have no time or I do not see the reason to even look at the day chart. Maybe the 1 hour chart every other hour.

I am NOT a consistent profit trader, but I think looking at the day chart is good, but when I am in the trenches on the 3 minute chart, there is no use for the day chart for me, besides a longterm resistance or support area.

This is why traders get tangled up in the micro momentum moves, that is where the money is.

 

[SimpleMeLike]

in trading there is only one thing you need to know to make good trades: counter trend strength.

padutrader,

there is truth to the counter trend trading. One advantage of counter trend trading is you avoiding the "noisy" (many support price action in the middle of a big range.) price action.

 

[padutrader]

One advantage of counter trend trading

you have misunderstood me

you have to judge counter trend strength to know if the reversal is close by

 

[volpri]

you have misunderstood me

you have to judge counter trend strength to know if the reversal is close by

True. Most reversals fail. Countertrend strength is a good indicator if the Reversal will likely be successful or fail. For instance in a bear trend you get a pb. How strong is that PB? You want it to break some resistance areas..such as MA’s swing highs.. ranges...the more the better..then test the extreme low then resume as a LH or HL MTR.

 

[SimpleMeLike]

you have misunderstood me

you have to judge counter trend strength to know if the reversal is close by

padutrader,
Specifically explain what you mean by "judge counter trend strength" with good examples please.

What does strength mean?

For example is that big green bar counter trend strength?