Since most of the traders who do this for a living, are still making a living, and opportunities are everywhere...it concerns me to see all the negatism on the board. We can all debate which software is better, or even which firm might be better to trade with....but the market is fine...we have volatility, we have volume (over 1 billion on the NYSE alone), we have players (from "mom and pop" to big institutions). "WE HAVE GAME!" Sure, the "bubble" is gone, the dart throwing success is over with, and we have returned to normalcy....big deal...let's work with what we have, and adapt to the markets as they are. Trade the downside, if that is where the market is trending....trade the basics again (openings, MOC's, RS, etc.). If some traders would spend as much time trying new strategies as they have trying to figure out why the old strategies don't work, they would probably be making money. The market may go back up (we'll call that "the Day of the Lundy").....or not...who cares...have fun and trade when you have an edge and enjoy your day. Good Luck!! Don
As I said in another post, who cares if they go up or down, just trade 'em in the direction they are traveling! Thanks Don!
Thanks Don for the return to simple sensibility, something lacking on many of these hyperactive threads for awhile. P.S. Love that "Day of the Lundy"....
I disagree and think this thread is very appropos to trading, your psychological approach to each trading day, etc. Plus it's a very welcome breath of fresh air here....
Don, You are absolutely right! It always amuses when I hear traders complain about the current market conditions. As a trader you really could not ask for more! Take the NQ today, 3 30pt. swings in the index before the afternoon session. That is 3 3% swings on an index in one session, what more can you possibly need??? CURRENT MARKET CONDITIONS ARE MINT! Publias
The market has been very good for the last while. A blind monkey could probably make money today! Plenty of great long and short trades today so everyone should have found something they liked. My credo for the day was "don't fight the momentum", or "go with the mo" for short.
Trading is a paradox stacked on top of an enigma I'm in the middle of my biggest win streak since Jan, and I've hated the intraday action each day New high to new lows to new highs....sheez, I have not felt in synch at all. Yet the cash keep rolling in. So the market must be perfect!! But then, we have to dance with those who come to the party. The market may act dorky, if may be a grind, but there is still plenty of edge out there. -Bo