Throwing in the towel

Quote from mmuloin:

Daytrading the e-minis has become a game of whipsaw back and forth; continuously having to be ready to pounce on the keyboard when it briefly takes off in one direction and quickly reverses.

Recently, my best trades have been shorting resistance and buying support in large cap stocks. Most of my trades are swing - 1-5 days. Today, I picked up some UNP at $55.05 with a stoploss at 24.75. I will pare out 1/2 position at 25.50 with a trailing stop.

MM
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Make that 54.75 and 55.50... LOL
 
But everysingle one I have used has an open position window.

Its a very basic feature.

Tradescape

Instaquote

Watcher

Many others to choose from.

All the above can be named something else but its still the same basic setup.

Some Brokers private label them to keep you from knowing about the vender.
 
Quote from proptr8r:

For several years I only traded intraday momentum. This last year I gravitated towards whatever strategies seemed to be working. Everything from pairs, overnight, position trading, opening orders. Whatever was working for a little while would soon fade. Trying to find a competitve edge in this market is extremely difficult. Whatever little edge you can find is soon taken away because every other trader is watching like a hawk if someone else is making money. I'm sure trading will get good again someday, but I used to feel like it was a no-brainer. Now I feel like I'm gambling. Maybe I gravitated towards too many different techniques this last year, but I don't think I would've done much better if I stuck to just one trading strategy.
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BS! if you got one half a brain cell you can find an edge. the prob with you guys are uis that you';re SPOILED! you had it way too easy and now that $$ doesnt just fall into your laps you whine and biatch. get your head outayoura$$ and BE A MARINE!! ADAPT & IMPROVISE!!! (sepmer fi)hehehe:D
 
the game has evolved to a much finer art.

technicial, momentum, OO, etc. are all being hurt by lack of liquidity, slippage to specialists and MM's and narrow ranges.

let's all face the music...

it ain't gettin easier for a while.
 
A Trader with HUGE BUYING power is sitting there, on the same basis as you, and he took it out, (taking down the stock to Zero).

By the way it was not Seconds (it was MILLISECONDS).

So, I should be taking the 20 or 30 dollars and forget about it, LOL.

Which is tiny snatches compared to the old days.
 
I agree with most that the market is tough, but not to the point you can't make money. Its the type of market where good old fashioned tape reading still works. Its been done for a long time and probably won't go out of style anytime soon.
 
Doesn't matter how good you read Level II or the momentum indicators.

The profit is not there in the trade sizes that would normally produce a nice 100 to 500 buck pop.

You need big buying power.
 
That is why many traders are shifting to futures. With the leverage added, there is plenty of movement to make (or lose) serious bucks days trading.

Jay
 
Quote from randynutts:


BS! if you got one half a brain cell you can find an edge. the prob with you guys are uis that you';re SPOILED! you had it way too easy and now that $$ doesnt just fall into your laps you whine and biatch. get your head outayoura$$ and BE A MARINE!! ADAPT & IMPROVISE!!! (sepmer fi)hehehe:D
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Wow.. I have gone onto another thread and here you still are..let me guess you live w. your parents, have no overhead, and think trading is easy? Please correct me if I am wrong, but the survivors in this market either: have huge trading accounts, or live w/ Mom and don;t have 6K+ per month in overhead.

Welcome to the real world....randynutts...all military analogies aside...Marines and Trading are worlds apart..No one's life is at stake trading...get a grip..some people have mouths and mortgages to feed..the never say die shit is a JOKE.

David
 
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