The intraday is a casino

FXtrader8911 said:
You are kidding of course... if not then you're not a trader

Exhibit one, to-day's S&P500 futures movement... down... up.... down.... up

Either short or long... against you then recovered!

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I traded short and long twice today, all profitable, so not sure what your point is. Did I imagine it? I went short last Wednesday, covered Friday with the intention of going short again today. Did I imagine that? GTFO with your not a trader BS. Live called everything on twatter.

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PS: Every single trader I respect on twatter was short from Wednesday INTO Monday. There was no way in hell it was a long play. So whatever you've got going on in your head, bleh.
 
These are also genuine casinos :

heavy scalping is a casino
swing trading is a casino
short term investing is a casino
long term investing is a casino
spreading is a casino
option trading is a casino


It will not be when you spend tremendous amount of time to develop your own holy grail.

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Do you understand WHY it happens rarely? It's because I have 100 checks to keep me holding off on triggers. These make me more money than being OK with going in, being wrong and then having it go in my direction.

If that is going to happen, then I might as well figure out under what conditions I "get it wrong" and figure that shit out rather than be complacent and accept "well I'm going to be wrong and it will stop me out and then go back in that direction".

No thanks. That's a loser's mentality.
 
nooby_mcnoob said:
Do you understand WHY it happens rarely? It's because I have 100 checks to keep me holding off on triggers
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What a load of BS... if an intended trade needs to pass 100 checks before it's triggered then nothing gets triggered because: a) no trade can be that sure, b) the time taken to make 100 checks loses the entry window. Sounds like a newbie on a winning streak making himself believe he found the "holy grail" and can beat the casino.
 
FXtrader8911 said:
What a load of BS... if an intended trade needs to pass 100 checks before it's triggered then nothing gets triggered because: a) no trade can be that sure, b) the time taken to make 100 checks loses the entry window. Sounds like a newbie on a winning streak making himself believe he found the "holy grail" and can beat the casino.
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Gee I wonder where you got the idea of newbie.

I obviously don't have 100 checks. Don't take it so literally. But i do have a checklist which partially gets filled automatically.

Edit: Also the checklist was borne out of the observation that less trading is better which means waiting for the right setup with more patience.
 
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Currently not trading this setup due to time constraints and my inability to barely automate my alarm clock let alone trading. It is profitable 1 point a day ES with 1 trade. I will teach my daughter to do it when she becomes a stay at home Mom.

Trade at the open if gap is 3+ points.
Fade the gap looking for 3 points regardless of gap size.
81% of the time you're done by EOD
The other trades either hit 3 points on day 2 or you exit EOD day 2.
92.5% close profitably.

NO STOPS, biggest loser was 50 points. It's not for everyone.
 
TTT said:
Someone agrees?
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%%
NO;
trading is not gambling.LOL I dont see many intraday patterns i want to do, but with no or low commissions, i may do some every now + then -not gambling.:cool::cool:, :cool::cool::cool::cool::cool::cool::cool:. I would not even call that daytrading=too much prep work involved.
 
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