Which method makes you happy?
- Thread starter Plop
- Start date
Scalping spreads doesn't work for me.
Trying to trade different ways at once doens't work for me. I can't seem to develop systems and trade a system at the same time... I get distracted when I'm coding stuff. Also, trading discretion doesn't work for me while I'm filling orders for my system.
I'm developing systems and trading them right now and that seemed to take my discretionary edge away from me so I don't do it. It works better if I keep my priority straight time to time.
Other than that, I can trade anything with a timeframe above 5 min. whether it be catching intraday trends to buy-and-hold using most technical analysis (considering I see edge in the analysis I use because after the edge, there's only discipline).
Trying to trade different ways at once doens't work for me. I can't seem to develop systems and trade a system at the same time... I get distracted when I'm coding stuff. Also, trading discretion doesn't work for me while I'm filling orders for my system.
I'm developing systems and trading them right now and that seemed to take my discretionary edge away from me so I don't do it. It works better if I keep my priority straight time to time.
Other than that, I can trade anything with a timeframe above 5 min. whether it be catching intraday trends to buy-and-hold using most technical analysis (considering I see edge in the analysis I use because after the edge, there's only discipline).
I like to trade intraday by trending/slaloming through the day.
I trade trends using a "continuation" entry/exit strategy and I do the "change" mode of the market using a reversal strategy.
This enables me to pull down a multiple of the daily H/L range and always stay on the "right" side of the market instead of the "whipsaw" or chop side of the market.
Thanks for starting what could be an interesting thread. I hope the usual simpltons forgo making their usual trite comments this time out.
I trade trends using a "continuation" entry/exit strategy and I do the "change" mode of the market using a reversal strategy.
This enables me to pull down a multiple of the daily H/L range and always stay on the "right" side of the market instead of the "whipsaw" or chop side of the market.
Thanks for starting what could be an interesting thread. I hope the usual simpltons forgo making their usual trite comments this time out.
A very simple strategy I use (almost) exclusively is the following:
I watch 100 most volatile Nasdaq stocks
If they break out of the previous day range I get interested, especially if I like the daily chart.
I wait until a consolidation pattern on the 2 min chart e.g. flags, minor pullbacks, etc.
I enter on the break of that pattern
Take partial profit on 1 time risk and trail the rest, preferably until the end of the day.
Take three trades maximum per day
After three losers I keep following the market, but dont trade anymore
Maybe others will find it too simple, but works wonderfull for me (so far)! Very good hitrate and risk/reward.
Best before 11.00 am
I watch 100 most volatile Nasdaq stocks
If they break out of the previous day range I get interested, especially if I like the daily chart.
I wait until a consolidation pattern on the 2 min chart e.g. flags, minor pullbacks, etc.
I enter on the break of that pattern
Take partial profit on 1 time risk and trail the rest, preferably until the end of the day.
Take three trades maximum per day
After three losers I keep following the market, but dont trade anymore
Maybe others will find it too simple, but works wonderfull for me (so far)! Very good hitrate and risk/reward.
Best before 11.00 am
I used to trade very intensively, but have now settled for the quiet life... in the past, I did nasdaq and nyse scalping by scanning real time for a whole bunch of features... I also did CNBC plays, you know the "buy the Kernan" kind of thing.... and I also did news plays too, but I found that I couldnt do news plays and real time technical scans at the same time, cos I only have 2 eyes and one head... when I did stocks, 50-75 plays a day was not unusual...
I have kind of toned down my stocks plays and am mainly doing the eminis nowadays, cos you only need to look at one thing... not as hectic as before but just as profitable... I am doing anything from 5 to 20 trades a day on the eminis, depending on the market and my mood... I used to carry multiple positions in my stocks plays, so to compensate for this, I simply upped my size on the eminis, as I am only doing ES... I trade em in a discretionary way, with a bunch of rules that I often follow, but fairly often override too, depending on what my gut is saying... after having had a quiet life on the eminis, I doubt if I can ever go back to playing stocks in the hectic way I played em before...
As for timeframe, the vast majority of my stuff (by a long way) is intraday... September 11 spooked me out, and I think the overnight risk is just way too great if you are playing for direction...
I have kind of toned down my stocks plays and am mainly doing the eminis nowadays, cos you only need to look at one thing... not as hectic as before but just as profitable... I am doing anything from 5 to 20 trades a day on the eminis, depending on the market and my mood... I used to carry multiple positions in my stocks plays, so to compensate for this, I simply upped my size on the eminis, as I am only doing ES... I trade em in a discretionary way, with a bunch of rules that I often follow, but fairly often override too, depending on what my gut is saying... after having had a quiet life on the eminis, I doubt if I can ever go back to playing stocks in the hectic way I played em before...
As for timeframe, the vast majority of my stuff (by a long way) is intraday... September 11 spooked me out, and I think the overnight risk is just way too great if you are playing for direction...
