You must be quick in the markets if you are day trading

Harry,

repeitition is one of the answers


- the wag in me would suggest how do learn to repeat something you dont do in the first place because you freeze ?


just trying to add a touch of levity
 
Remember when you was a child and was learning to mount a bicycle ... (the 3 points is to let your memory remembering :D)

Quote from Prince Philip:

Harry,

repeitition is one of the answers


- the wag in me would suggest how do learn to repeat something you dont do in the first place because you freeze ?


just trying to add a touch of levity
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Quote from harrytrader:

Patience is important AND speed is important or you have never executed a real trade and undergo slippage for example. Being able to react with speed doesn't mean to react like a monkey at each moment, it means being able to react WHEN it is needed and WITHOUT HESITATION. That's the PROBLEM NUMBER ONE OF MANY PEOPLE. When it comes to ACT they just FREEZE. Why ? Because they didn't prepare to act SWIFTLY. After that they see the train leave the station and they regret.

The question after that is How: the answer is Repetition.
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No,

Freezing up and being fast are not the same things.

I'm pretty fast but that is not what makes me money. Waiting for the right entry & exit, that is key.
 
Did I say the contrary ? I said Patience also is important. It doesn't exclude speed. Above all if you trade on very low scale and compete with the market makers I can tell you if you are not quick enough they will eat your cake in front of you :D. Why some people who can trade on higher scale cannot daytrade on lower scale it's because of that for most part: their time reaction is too slow they get stressed. This is true for anything. I can see it in programming also. When the programmer has not enough experience in a very urgent project he becomes too stressed by the speed and commit much more error : then you have to put him aside and take another one.

In fact when I say patience I mean patience during action. Now action is 20% of the stuff the other 80% is preparation.


Quote from Mecro:

No,

Freezing up and being fast are not the same things.

I'm pretty fast but that is not what makes me money. Waiting for the right entry & exit, that is key.
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Quote from Grob109:

A weed killer by any other name .........is still a weed killer.
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Hi Grob109,

This is definitely your wisest observation ever!

Be good,

nononsense
 
I'd say the issue of speed depends greatly on the type of trading strategy one is using. Most of my entries are done on stops that are called by signals some time before, so speed isn't so much an issue...
 
Of course if you use a system that is automated it is not an issue so the issue is for those who don't and there are still many. See Gringinho post for example:

http://www.elitetrader.com/vb/showthread.php?s=&threadid=30991&perpage=6&pagenumber=4

"I also use my own neurons to do my trading - and will continue to let them have the last say. Still, I find that I do trading based on not an infinite state of mind, nor infinite variations of signals. Sometimes, however I lose my concentration, and do not process those same signals as well as I do other days. "


Quote from splphil:

I'd say the issue of speed depends greatly on the type of trading strategy one is using. Most of my entries are done on stops that are called by signals some time before, so speed isn't so much an issue...
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