newb questions: was today an example of a choppy day? i was tinkering with my indicators and i am not sure if i just screwed myself or the market was less tradeable. ps any good ways to tell if a day is going to be choppy or trending? (other than actually having to look at a chart)
On the indexes it was choppy and the smallest range for the year. I think the Dow put in an 80pt range..the S&P did about 9...pretty lame. Unfortunately, this could be a forecast for the next few months. I hope I'm wrong. On the bright side, I don't trade the indexes much, and there were still some decent moves in certain stocks. BAC for one. I made a bit of money, but cut the boredom by watching The Office season two (BBC) DVD.
dern, howd ya know. i was trading ym. one signal long + 2 signals short is not 66% chance of success. more like 100% chance of loss. live learn spend money thanks for the feedback
Two ticks on 100 lots of ES is $2500 b/f commish 6 ticks on 100 lots is $7500 b/f commish and so forth.... 10 pt intraday range may be small relative to what we have been seeing lately but stop being pussies and figure out how to extract the cash thats whizzing by, even on "slow" days
Two ticks (in wrong direction) on 100 lots of ES is -$2500 b/f commish 6 ticks (in wrong direction) on 100 lots is -$7500 b/f commish and so forth.... perhaps in time...pls pass the vagisil
is that being sarcastic? i cant tell. its like when i was working for my girlfriends dad during high school in his auto repair shop and he said "here, hold this spark plug wire while i turn the engine over" boy we had some laughs that day.
Are you a newb? I've been daytrading almost 9 years for a living. If I focused on the negatives like you have below, I wouldnt have made it past (the year) 2000 in this biz. You have to look for ways to exploit the markets, given their daily ranges and current conditions. They arent going to adjust for you.
I don't trade the US indexes but I follow them very closely. I trade with a trend following (following, not chasing mind you) strategy. Looking at today's action I would have most certainly lost money overall on any of the major contracts if that makes you feel any better. Absolute lack of follow-through. One way to try and identify days like today is to study Market Profile concepts. Sometimes it helps, sometimes it doesn't.