=======================
Last hour and;
first hour, both regular market hours.
What "TIME" of the day do you trade Most often?
- Thread starter F-Trader
- Start date
=======================
Last hour and;
first hour, both regular market hours.
You found an exploitable edge and you are doing decent. But, the fact that you are losing money over the course of the day would mean that you are yet not the "TRADER" that you can potentially be.
A continuous search for ideas with a constant perfection of your methods (learning new and better indicators, inter relating them) etc is the only way to go. You got a long ways to go my friend, a lot more $ is waiting for you.
I'm not really Losing money over the course of the day because I stopped most of my trading after the open, LOL.
I like the adreneline rush I get from 9:30 - 9:50, then the market seems to stop. I then force trades, overtrade, etc...
I have a friend in CA who only trades the Open and walks away. He makes mid six figures yearly. He found his niche in trading the open and said F trying to trade the rest of the day.
I'm starting to think if I should do the same. I would like to take more money out during the day but seem to have a hard time doing so.
I wish I could find a way to tap into that "other money that is waiting for me."
I'm seriously thinking about moving to the Carolinas or Florida so I can play golf or whatever during the Winter, unlike friggin Michigan. This way I can walk away after the open.
I've never made less than $200,000 a year in any business I was ever in.
I would honestly have to file BK-7 if I made less than $150,000, no joking.
I have a nice house on the lake, sportcars (waiting for my C6 ZO6), 2 kids headed towards college, and I like to travel. Try and do all this on less than $150,000, ain't gonna happen.
BTW, if you want to make $100,000 yr then trade the open like I do (I can elaborate more about my open strategy if you like) It's very simple, even I can do it.
Mac
You need some other place where you can blow off your steam, where you need to act out your irrational behaviours some where away from the markets.
For me, thats on a golf course. Playing for $10 bucks with buddies isn't that much when you are a trader, therefore it doesn't hurt to go for the greens where you need a 280 yard carry etc.
I enjoy playing golf a lot more since I started trading and Florida and Carolinas are the places to be as well.
Mac would love to hear more about your open strategy as I can't figure out how to trade it. I always get whipsawed out of my positions.
thanks
thanks
It seems to be the only way I make money.
Why are you getting whipsawed?
Stops too tight?
Are you Fading Gaps or Trading the Opening Print?
ECN's or Listed?
Are you doing homework pre-market on these stocks?
How do you decide what stocks to trade?
Maybe you could elaborate on your strategy and I'll fill in more of my open techniques.
Mac