Consider this iv been watching some successful daytraders, the one common trait. Is their superb use of scanners. They look for gapping stocks up or down they make their moves in the first hour or so and cut out.
Do you scan as well?
Trader PnL 2015
- Thread starter wiesman02
- Start date
Do you scan as well?
You only allow it meaning you have control over the market? Or are you saying that you know which will be the losing trade so you only take one? Both of course are ridiculous.
Does this also mean that you at most have 1 losing trade out of 10 so you have a win rate that is over 90%.
If this is what you are saying, I'm sure the rest of us would love to hear more.
Lastly, trading options doesn't have to be any more riskier than trading futures, it all depends on the details.
I do , im not making any great gains either. Its not that hard.You only allow it meaning you have control over the market? Or are you saying that you know which will be the losing trade so you only take one? Both of course are ridiculous.
Does this also mean that you at most have 1 losing trade out of 10 so you have a win rate that is over 90%.
If this is what you are saying, I'm sure the rest of us would love to hear more.
Lastly, trading options doesn't have to be any more riskier than trading futures, it all depends on the details.
out of 260 trades i have about 5 unprofitable losers. People do this all day long .
Please share your options info im looking at this and its like a new world
No, I do not use a scanner for stocks. The NQ futures tracks the movement of the Nasdaq 100 as the underlying asset.
My main issue is psychological.. mainly confidence and being afraid to take a quick loss. I normally am very timid in the morning and when a trend appears, I always overthink and will hesitate to pull the trigger on the trade. This morning I saw a good short opportunity based on the charts, but with the strength of the market due to the lower than forecasted payroll numbers, I thought only staying long today was the best play. This is most likely a function of my lack of experience and being undercapitalized, however I'm hoping this will change as I continue to break-even / not blow out my account and gain more experience.
I did paper trading for a while, however it's just not the same. You don't go through those emotions, the ones I know I need to contain in order to succeed with this.
Why wont you try a different security /commoditie even if just for a lil while. Reminds me of a one trick pony?
Net: -233
Better job today disconnecting from my money. Even despite the loss I didn't get frustrated or stressed out and executed my trades. The only mishap today was on my 2nd trade, I should have recognized the strength in the market and flipped long as soon as the market broke out of its range. However, I utilized a tighter stop for the 2nd trade to minimize losses.
2 trades, 2 losers.
Better job today disconnecting from my money. Even despite the loss I didn't get frustrated or stressed out and executed my trades. The only mishap today was on my 2nd trade, I should have recognized the strength in the market and flipped long as soon as the market broke out of its range. However, I utilized a tighter stop for the 2nd trade to minimize losses.
2 trades, 2 losers.
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Tried a bunch already over the years.. stocks.. options.. ES.. I really like the NQ just based on how the market moves and how the charts form. I actually only started focusing on the NQ this past March, and even though I have been taking losses I still feel myself progressing the best with this security.
Fair enough. I just looked at 20 days of it with a 9/20/50 ma. do you think it will hold or begin another retracement down.
Thought the range would have been a lot tighter today.. surprised by the volatility on both sides!