With hundreds of theories and studies out there you have to find the best ones for your trading style. I like counter trend for markets like mini SP and other stock indices. I like breakout methods for gold and crude. The best way to do this is using a free charting/trading software demo, so don’t risk your money learning.
What is best strategy for daytrading?
- Thread starter alasgar
- Start date
best strategy for daytrading is don't
get a real job
get a real job
what? best strategy for daytrading is don't get a real job???
LOL.now seriously: for 90% of the traders that is correct. but the problem is that you should first find out if you are in the 90% or can get in the 10%. and that can take years to find out...
it is like in trading: only in hindsight you will know for certain what the best choice was for you.
Most of the 10% don't exist
it is not important whether it is 10% or 1%. important is to be on the winning side, no matter how small, or big, that side is. focus on what is important, not on stupid irrelevant details.
the percentages we read everywhere are never identical and most of all irrelevant. if you make a lot of money do you care how many other people do the same?
99.99% of people will never become rich, nevertheless there are millions of millionaires.
my favorite topic.
I have been day trading futures for decades.
when there is signal, must take it. Do not over analyse and do not suffer from data paralysis.
Besides continuation signal, there are lots of reversal signals.
Be good at detecting and taking reversal signals.
In fact, more than half of the signals are actually reversal signals.
Have simple trade plan.
Must be alert at all times. Must catch first signal. This is very important
so that you can shift your stop to protective stop.
Always remember if you missed first signal, 2nd signal is risker.
Delete those irritating useless worthless distracting indicators from your charts.
For me, I just got zig zag line.
Avoid reading news / financial reports / experts opinion.
It contaminates your mind and cause greater confusion.
Further those news / reports are not meant for day traders.
In fact, the writers may not know who they are targeting at.
Be mindful. consciously think what you supposed to think.
If not, the 'useless part' of subconscious mind will control your trading and make a mess of it.
I have been day trading futures for decades.
when there is signal, must take it. Do not over analyse and do not suffer from data paralysis.
Besides continuation signal, there are lots of reversal signals.
Be good at detecting and taking reversal signals.
In fact, more than half of the signals are actually reversal signals.
Have simple trade plan.
Must be alert at all times. Must catch first signal. This is very important
so that you can shift your stop to protective stop.
Always remember if you missed first signal, 2nd signal is risker.
Delete those irritating useless worthless distracting indicators from your charts.
For me, I just got zig zag line.
Avoid reading news / financial reports / experts opinion.
It contaminates your mind and cause greater confusion.
Further those news / reports are not meant for day traders.
In fact, the writers may not know who they are targeting at.
Be mindful. consciously think what you supposed to think.
If not, the 'useless part' of subconscious mind will control your trading and make a mess of it.
Last edited:
The only 99.999 figure I'm aware of refers to the uselessness of the advice found here.
well, your posting is confirming what i wrote here earlier:
https://elitetrader.com/et/threads/...-about-day-trading.313407/page-4#post-4524045
are you serious? find advice on ET?
the fact that you look for advice means you need it...