Will it go up or down?

[qxr1011]

I'm sure inexperienced traders take lessons hard learned from other areas on life that the short-term future is more visible than the long-term. The principle is wrong in trading.

agree, and not only in trading

 

[SunTrader]

I'm sure inexperienced traders take lessons hard learned from other areas on life that the short-term future is more visible than the long-term. The principle is wrong in trading.

I find the opposite to be the case but that's what makes a market.

 

[tomorton]

I find the opposite to be the case but that's what makes a market.

Yes, well I could have said intermediate-term rather than long but same principle.

 

[SunTrader]

Yes, well I could have said intermediate-term rather than long but same principle.

Either way I disagree. But that's ok.

 

[tomorton]

Either way I disagree. But that's ok.

Thing is, the way most not-very-successful traders trade short-term forces them to absolutely finesse their entry point and then to have a TP level at which they will exit. Because the distance in real terms from A to B is not great, these differences (and spreads/commissions) are crucial and make a real difference to profitability over the longer haul. Whereas, as a long-term trend-follower, all I have to do is get the direction right and make an entry that isn't crazy: I also have more options to pyramid.

So the short-term trader is like the short-term weather forecaster. The forecaster has to predict when the temperature will reach 13.7degC and get in right on it, 13.9 will be too late. He has to set a TP at 14.6 and get out immediately. Of course, anything could happen between now and then, and if it rains, the whole game's off. Whereas all I have to predict is that the winter will be cooler.

 

[TTT]

Totally agree tomorton but it is also true that to be able to work from home and earn a lot of money can only be achieved by being an exceptional intraday trader.
I take my hat off in front of those who have succeeded.

 

[murray t turtle]

Success most days but sometimes does the opposite.
I would like to guess more.
Any suggestions?
My system is to see what the markets have done at night.

%%
I agree with sunTrader. He implied ;use regular sunlight hours.LOL AS far as ''know''; i know US market have been strong so long, for example seven weeks up in a row,[1929-now] i tighten stops!!!!!!! BUT before all the tariff talk[ stupid tax talk]the Chicoms were much stronger+ going up like 7 months in a row. So buyer beware in SEPT, for US + Chicom stocks.

I so seldom do or even look @ irregular hours=too irregular; but i do open-close price.[ I ,mean record open price.......]

 

[PACMAN Trading]

I am already profitable.
I do not need a crystal ball.

If already profitable, why keep spending time on learning new stuff? Isn't your answer now to scale up? I am new here so please be specific if you can.