Discussion in 'Chit Chat' started by midniteeuropa, Dec 4, 2008.
better to not be in today, too risky to go bear, too risky to go bull.
You must be kidding. Right? These are amazing conditions for traders. Even I can daytrade these markets, and I'm not a hardcore daytrader.
your just getting lucky.
hard to get leverage today, market can go any direction
Tend to agree. Getting chopped badly today.
Sure, okay. I mean, the idea that there are traders who welcome these conditions would be extremely difficult for you to accept, wouldn't it?
Tell me, do you think there are no day traders who are doing well in this extreme volatility? Or do you think it's just me that's getting lucky and there are others who are simply good enough to do well?
Once again, I am not a hardcore daytrader. I can't be at the screens every day for 7 hours, so I log on when I can. I miss tons of moves because I'm waiting to enter where most guys places their stops, around areas of major S & R. I never take the minor S & R areas because as you can see today, those get crashed through routinely. Also, I am trading with wide stops because I feel my entries will make up for some of the R/R ratio I'm giving away by doing so. These guys who say they're trading with tight stops in these markets are either savants or liars.
By the way, you are isn't 'your'. It's 'you're'.
Today = no trend
Trend traders = hard times
It's rather easy to see why you'd have a hard time trading today. Days like today are very easy to trade if you are not dead set on catching a trend wave.
While we've seen more trends lately, that is not always commonplace. When the market reverts to a 'norm' you'll see more days like today IMO. Which is great IMO.
Hey.....Different streaks for different freaks.
Wait for the daily rally between 2-3pm
It is starting early today, we should be green within the next hour.
Chop day - was down $1200 early on -
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