The secret of daytrading

TTT said:
Maxinger, can I ask you a question? I see that you are a very experienced trader. Why do you prefer doing intraday with futures instead of stocks? The shares can give a higher return on the day than the futures. They can also have a less messy graphic than the future. You can choose among many stocks to choose the most appropriate one.
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I have tried many many things including
trading stocks, options, index/commodities/currencies/fixed interest futures, spot forex, bonds
position trading, swing trading on various instruments,
pre opening trading,
outright, spreading here and there and everywhere etc etc etc
way before computers were available for home use.

All didn't work out for me except day trading futures.
So this is the only thing I do for trading.

Also I don't like trading stocks as there is no leverage.
I hate zero leverage. I love futures because of high leverage.
for some, it is the other way round.


different people have different capability, interest, limitations AND subconscious mind. so we have to explore and see which best suited us.
 
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The secret to day trading is

To be totally unable and unwilling to predict what is going to happen next.

so your trade plan should be designed based on these points.
 
Maxinger means that you have to respect the stop, however you have to have an understanding of the volume in several time frames to know what the price can do next.
 
Understanding the volume and respecting the stop can be the holy grail, but it is not easy, I have not yet achieved it.
 
TTT said:
however you have to have an understanding of the volume in several time frames to know what the price can do next.
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What part of "To be totally unable and unwilling to predict what is going to happen next." didn't you understand?
 
TTT said:
Maxinger means that you have to respect the stop, however you have to have an understanding of the volume in several time frames to know what the price can do next.
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No, no, surely? I do believe he means day-trading is a coin-toss. And I have to agree.
 
maxinger said:
The secret to day trading is

To be totally unable and unwilling to predict what is going to happen next.

so your trade plan should be designed based on these points.
More...

the fact of opening the postilion in certain direction is in itself the prediction by the trader of what is going to happen next

and the "next" is within the scope of played time-periods (within which the trader's predictions carry some weight and make most sense in terms of its risk /reward ratio)

the better the trader the often his predictions come true
 
qxr1011 said:
the fact of opening the postilion in certain direction is in itself the prediction by the trader of what is going to happen next

and the "next" is within the scope of played time-periods (within which the trader's predictions carry some weight and make most sense in terms of its risk /reward ratio)

the better the trader the often his predictions come true
More...

great job Mister !
 
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