This was my first week daytrading in a long time.
I mixed some daytrades in with some daytrading entries and holds overnight. (I only hold winners)
Why did I start trading again.
The arguments about t/a fired me up.
I had time this week and ... am committed to learning how to spread tread but I was getting nowhere. I have spent a few months looking at some spread charts and they were lifeless to me. I felt like I had no edge. If you are not participating in the markets... I might agree that it is hard to find an edge by looking at charts.
So, I got my charts going.
I got my login situations working
I had very low expectations.
I figured I would chop around and maybe lose after commissions. I rarely made much in the summertime when I was doing this full time. I expected to see lots of choppy markets I could not read.
I was wrong. The es and ym took my money. But some currencies, an energy market, and stocks in the news traded beautifully.
When the volume was on... some of the swings were textbook.
Just like in the old days. (which is all you really need to make money)
Perhaps this week was unusual.
I do not expect another week like this week during the summer.
But for those of you who say t/a does not work.
To my surprise my eye says otherwise. (so far)
One caveat. My nut is far larger now than it was when I was single and lived off my trading profits.
I do not expect to be able to trade full time. I now have other businesses. So why my monthly expenses are large and therefore the source of some stress (I have 4 kids and a golf habit and office space and marketing etc.) ... the fact I have other income may turn out to be good for my trading.
Week one conclusion -
When volume is on T/A still works in multiple markets.
In fact even if I dont make money doing this. Its absurd to say t/a does not work.
If you can't see support and resistance in action on a chart... you are not trying.
Your next step is to figure out had to trade support and resistance.
I mixed some daytrades in with some daytrading entries and holds overnight. (I only hold winners)
Why did I start trading again.
The arguments about t/a fired me up.
I had time this week and ... am committed to learning how to spread tread but I was getting nowhere. I have spent a few months looking at some spread charts and they were lifeless to me. I felt like I had no edge. If you are not participating in the markets... I might agree that it is hard to find an edge by looking at charts.
So, I got my charts going.
I got my login situations working
I had very low expectations.
I figured I would chop around and maybe lose after commissions. I rarely made much in the summertime when I was doing this full time. I expected to see lots of choppy markets I could not read.
I was wrong. The es and ym took my money. But some currencies, an energy market, and stocks in the news traded beautifully.
When the volume was on... some of the swings were textbook.
Just like in the old days. (which is all you really need to make money)
Perhaps this week was unusual.
I do not expect another week like this week during the summer.
But for those of you who say t/a does not work.
To my surprise my eye says otherwise. (so far)
One caveat. My nut is far larger now than it was when I was single and lived off my trading profits.
I do not expect to be able to trade full time. I now have other businesses. So why my monthly expenses are large and therefore the source of some stress (I have 4 kids and a golf habit and office space and marketing etc.) ... the fact I have other income may turn out to be good for my trading.
Week one conclusion -
When volume is on T/A still works in multiple markets.
In fact even if I dont make money doing this. Its absurd to say t/a does not work.
If you can't see support and resistance in action on a chart... you are not trying.
Your next step is to figure out had to trade support and resistance.
