changing my mind on day trading

Discussion in 'Trading' started by Jdesey, Mar 20, 2022.

  1. themickey

    themickey

    If I understand, you are saying when longer term, you spend additional time checking back over your positions and maybe the markets?
     
    #11     Mar 20, 2022
  2. Sprout

    Sprout

    I'm not informed on your approach to the markets. Unless you're an algo trader, if you post an annotated chart I would.

    Harris's book on Trading Exchanges and Market Microstructure is the reference and quite good. This is a draft copy. There's a taxonomy chart on the net that has a visual representation.

    To update it with today's landscape, one would have to assimilate Michael Lewis's Flash Boys.

    Page 40
    https://www.acsu.buffalo.edu/~keechung/MGF743/Readings/Trading-Exchanges-Market-Microstructure-Practitioners Draft Copy.pdf
     
    #12     Mar 20, 2022
  3. Sprout

    Sprout

    Aha's are life-changing. Not only for you but your expanding Circles of Trust.
     
    #13     Mar 20, 2022
  4. sridhga

    sridhga

    We can have a whole lot of debate on whether trading 5 minute chart is better than trading hourly charts.

    I mean to say that a pullback looks like a trading opportunity on a smaller timeframe while it is just noise from a higher timeframe perspective.

    Both approaches work well. Some of us may be more tuned to a specific time frame.
     
    #14     Mar 20, 2022
  5. easymon1

    easymon1

    trading and exchanges.png
     
    #15     Mar 20, 2022
  6. Bad_Badness

    Bad_Badness

    Problem with Day Trading as a 9-5, is sustainability. I would suggest you work a 4 day work week, not 5, while you get started.
     
    #16     Mar 20, 2022
  7. Market is very volatile right now. When market calms down, you will have to switch to swing trading to get the same points.
     
    #17     Mar 20, 2022
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  8. maxinger

    maxinger

    I traded many things;
    investing, swing trading, day trading,
    trading stocks, options, futures
    spread trading Intermarket commodities ...

    I started investing and swing trading before the computer was available for home use.
    I gave up on investing and swing trading about 2 decades ago;
    It didn't work for me.
    I have been day trading since then.

    some day traders just trade for 3 hours a day.
    I spend about 6 hours a day.
    Some day trade for about 10 hours a day.
    So you have flexibility as to how long you'd want to trade.

    Anyway, go and experiment and see which best suits you.
     
    #18     Mar 20, 2022
    irniger, Leob, S-Trader and 2 others like this.
  9. easymon1

    easymon1

    Patient day traders can find setups without living in front of a screen just like everyone else.
    hghgt.png
     
    #19     Mar 20, 2022
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  10. KCalhoun

    KCalhoun

    i like 2dhighs
    nio18mar.jpg
     
    #20     Mar 20, 2022
    Math_Wiz likes this.