Registered: Oct 2007
05-26-12 07:23 AM
This is the punch .
I have finally devised a day trading system that does work , but it uses discretion It is a combination of ranging ,trending and random noise trading where direction gambling (betting) is done only on formation of major trend trend lines of 15m + , and trading major intra day support and resistance.Stops are wider and trading is done on probabilities of stop sizes getting hit less frequently.There is no marrying to positions , as trades are taken on both sides .It also involves some gambling position sizing etc.
Day trading is mostly betting on unknown outcome , it is going to the casino and throwing your money on the table , with tight stops which get taken out very frequently and losses mount.
Most gamblers get addicted to wins , but market gives non anticipated results frequently to make addicted losers.Using junk science called t/a does not help.