I believe you should be trading tops and bottom as a day trader. I believe as a day trader we must know how to trade everything or all markets conditions. Reversals, breakouts, joining a trend, etc, etc. Reversals occurring during day should be traded. It is easy? Hmmmm, it depends on your risk personality. When price approaches a potential reversal area, let’s say resistance, will you go short when you see the first sign of selling? Will you wait for more selling, will you wait for buying and then selling? An aggressive trader will sell at the first sign of selling, a conservative trader will want to wait for more clues of selling. I prefer to wait for more selling pressure, than take the risk that more selling will occur. This means I sometimes have bad risk vs reward reversals trades, but more probability of a reversal occurring. Which means I loss big money at times. Take what I say with a grain of salt. I am still a sim trader.
My point exactly. As traders we have to be ready to make money in all market conditions we see on the chart. Tops and bottoms are never very clear as it is shown in theory.
there is a HUGE difference between selling or picking tops and selling short. tops are not necessary to pick in order to sell short.
Might be starting up a new Ignore list, low IQ people annoy me!! Ego LOL Derren Brown flipped 10 heads in a row on video, made it look live in his TV show, the odds are only 2048 to 1, in reality it took him 17hours before he had a 10 heads run, that's just math!! Skill is profiting, Lack of Skill is losing, no luck required, yet again because LUCK isn't real.
Do enough samples, if both our trades are a 50/50 coin flip, then we'll both be right 50% of the time. I don't trade of opinions, I trade off it's going up or down and therefore likely to keep doing that, obviously I lose when it stops doing that shortly after I take a trade like everyone else, but you can remove the opinion.
Your description of your pro boys reminded me of a book I read when I was young and innocent: Ney. I thought it was BS.
Actually sir, I believe more in luck than skills. If you are lucky, your first 10 flips will be 10 heads, if you are unlucky, it takes 17 hours. It is probability. Even with positive expectancy, I need luck to be profitable because a hundred trades a month is not large enough to converge to the meager positive expectancy.
Rather than rely on something that doesn't exit, wouldn't improving and getting a better positive expectancy?? If your doing better than expected then you likely just got your positive expectancy wrong
now you are trying to sound cool... and all I have seen from this thread is 'distance from a EMA'... if that's all you have, then I am certain your winning (if true) is 97.4385% due to luck.. because that's how much positive expectancy an EMA gives you.. 2.5615%... per my research.
as mentioned in my earlier posting, identifying tops and bottoms is not a good idea because in real life, things are not that straight forward. Now see what has happened to NQ throughtout the whole of 10 May 19 Identifying type of market is important.