Ah, yes, I will be there. But only if you and RT come. Just look for a shrivelled up smelly old prune with a glass of cheap champagne in each hand and two refills set up on the table. What works intraday? That is an IQ test. I cannot trade range bound days, although some people here insist that there are signs and portents. I think they're lieing. Call me simple, but I think the only thing that works is riding the big kahuna. There ARE signs and portents for those. The only problem is that you have to be willing to sustain small losses for one to two weeks to catch the wave. And you have to learn how not to wipe out.
but but..Arthur Deco is dead...or ummm..dieing..He is sharing some wisdom from his death bed ... doesn't that mean anything? ES
ALL ET threads are joke threads. And if I joke, please understand that it is gallows humor. I do not trade automated, because Bitch EasySignal keeps promising to support it. Like my wife keeps promising me a blowjob. I do trade systematically with manual entry and exit. I trade five systems intraday, and have perhaps ten more in the wings in evaluation for robustness. How can I help people who trade manually? By encouraging them to bring to awareness what is intuitive, code it, and test it. It is similar to the progression from masturbation to real sex. I make money every month, but do have losing weeks. Those tend to correlate with drunken binges. I don't trade a system unless the win rate is 1 in 3 or better, because I hate to lose. I am living proof that Jack is dead wrong. You don't need good character to win at trading. If I didn't have bad character, I wouldn't have any character at all. Low win rate systems probably are overoptimized fictions, and trading them is evidence of masochism. If I were truly malevolent I could make money just selling fraudulent systems. Some of them are soo good they fooled me. Over trading is impossible following a system. I switched to systematic trading for that very reason. I finally had to accept that I am a total dumb fuck about dis-cretin-ary trading.
Is a dilema less serious than a dilemma? I myself have women problems which I call dilemmamas. Should you get a new bicycle? Should you get a new wife or girlfriend? You will get far less in trade-in for either than is worth the trouble. So I say, get a new one and keep the old one. Sometimes a new ride (of either kind) is good, and sometimes you long for old reliable. In any case, it depends on whether ot not your current ride is a pain in the ass.
That indeed is a condomnundrum. I was not aware that you were now watching such fast charts. But I approve. All the action takes place on those time scales. Anyone who doubts S&R need only go there for a day. But if you are tempted to trade faster, I suggest interpolation between ticks.
I often see people post here advocating the latter. I suspect that they are delusional. And I know for certain they will soon deplete their accounts. There is no excuse for trading a low reward-to-risk system. In my opinion it probably isn't even a robust system. I don't trade anything less than about 2.5:1.
That's EasySignal efs code. But I can't take credit for it. Professor Joe Doaks did it. Took him the better part of a week. After that I stopped paying him by the hour.
The exception might be that a good trader gets terminally bored babysitting a winning trade and longs for someone to abuse. Look at position trading. I check my porfolio twice a day. Leaves lots of room to bullshit. Intraday I lose two trades out of three, usually early in the day. So I drink. And shoot. And surf porn. And do my best to mislead noobs on ET.
I have benefitted, if only marginally, by advice I received from ET members, usually privately. Let us suppose that you start your diseducation with a book like Achelis' "Technical Analysis from A to Z," an excellent book IMO, very inclusive and comprehensive. But how much of it is dross and how much gold? I have exactly four elements in my charting that got there because ETer's told me they believed in them and used them: a moderately slow intraday EMA fibs the premium testing the HOD and the LOD. I don't have any systems built around them, and not for any lack of trying. But I do find them informative in creating a mental gestalt of the nature of the day.