It sure is good not to know or worry too much. Do you have 5-min volume bars on your charts? Can you READ the mind of last forming volume bar (current) moves up and lulls and change color? No? Good, I have an upper hand over you. How about reading the DOM? Just for laugh. I know someone is lurking. Jack?
Dam.. I need indicators that change colour to READ the all seeing market mind??? And if I don't have a rainbow I don't have the upper hand? Darn it!
What do they call guible people. How much of my day is 60K? Besides I support learning for free. Do a profile of ocean 5. He is a B type detractor. Try to recognize a person who baits others to get attention. This is a summer day. In CW parlance it is called "chop". Chop is probably a sailing term from the LI sound wealthy traders who sail out of Larchmont or Greenwich (Indian Harbor) or the guys on the other side of bell 32A (Oyster Bay). To make money you pay attention to longer laterals where you have permission to trade on the sub.
hahaha.... but don't the guy realize that any big business has leverage over the small guy? doesn't matter if their selling ice cream or donuts.. or hey coffee..
You are welcome to be in the move ahead of me, I have nothing against. Personally, I don't try to be cute and be first in and first out, instead I wait for confirmed signals with enough potential to get the "meat" of the move and that's it. One old and experienced trader taught me this, simple even primitive stuff... But as long as it works, and it always did, does and will... Guys who try the same style soon start making nice ticks nearly every day... Do they worry about not being the first in every swing? Doubt it...
This thread hs been around for a while. Many others have too. With respect to the topic of the thread. Day trading means doing trades intraday. Gaming the markets probably means using gamiing techniques to win doing a series of trades during the day. Losers are mentioned in the title. Most potential traders participate in markets for a while and then they quit. The potential life span of such a participant is brief and the expereince really leaves as mark on the person for the rest of his life. the process for becoming successful is simple and well explained. Please go to Behavioral Finance and print the lead there which is entitled "BF or BS?". It is a good standard for discussing whether "Day Trading is a Loser's Game". For most people who take up considering trading; they observe, some experiment and all are ignorant. In terms of probability, and in terms of gaming, being successful in trading doesn't work. the financial industry could not survive on trading either. Instead, the financial indutry uses other non trading avenues to survive. There are an assortment of self policing membership organizations that give away "credentials" that indicate a person did what was required to make a payment in return for getting the credential. If a person does not get credentials and say he is a professional, he has to obey certain limitations to not break the laws if he is to continue to trade for others than himsleve. All brokers are required to have their trading clients answer a regulatory agency questionaire periodically. Today most IB's are quite stuffy about allowing any kind of out of the ordinary trading to go on under their rooves. The filed paperwork they require is followed up by personal interviews with such clients. The questionaire is very clear about sorting amateurs from professionals. If you get classified as a professional, then you have different fees and costs than an amatuer. Professionals also have more severe reporting requirements. Hee in this thread some paricipants have looked at the records of organizations that reugulate professionals. They reported back to ET some facts they think they found out. There are many good examples of beginners becoming successfu. Some have written books. Today, it is no different than it has been in the past. Except there is more information and it is more readily available. In conclusion, the vast majority of beggining potential traders keep their focus on repeated failure. finally, they accomplish quitting trading and then they tell others about what they cannot do.