uh, notice BRK bounced Exacty where I told you I was covering some (50%) realtime. 1o:10 am . documented. check the chart. ok stalker, go back to eating the paint off the wall
Nice, see that's way more legit than coming in 17 mins after the open and saying you shorted the open. Good for you 777
lol, how much would you like me to give away for free to a pack of ingrates? I only do this to document that there are actually traders who have a clue, otherwise, you'd think they were all posers, frauds, and mental cases.
Here is a strategy on how to make money day trading ES: 1) you need a minimum $100K 2) u begin trading 2 contracts. for every $100K increase in your account, add 2 more contracts. dont really need chart. just dom 3) your profit target will be 2pts and no stop but add when the market is not going in your favor. the reason to add because u have that STAYING POWER. the market will always reverse or retrace 4) once u profit, enter again asap. must do this continuously nonstop. 5) if the market still cant hit your profit target at the close, swing it That is how you trade. Placing stop means u are asking to get stopped out. In fact, when placing stop really mean u are doing the big funds a favor by getting filled fast. For those who starts $2000, $5K, $10K, $20K, or less than $100K, 99% of chances u will not last 2 months. U will blow your account. placing stop is for loser, adding to average your price is for winner if your brain can manage loss
As someone already mentioned, I can't say for equities as i've never traded them, but futures are still plugging along. Yeah it's a lot slower and more range bound, but reading the order flow is still fine. I don't think day trading is dead (hope not anyway) I just think the markets are in the transition phase where it's a case of adapting to the new world or move on... I think that link, as someone else already mentioned, mis quoted the prop firm letter a bit to fit his opinion. In the letter he stated that they were letting the less talented traders go as the days of someone being able to grind a 50k a year living is over. Now in my opinion, if someone is only just able to grind out 50k USD a year and needs big volatility and volume to do it, then they were never really gonna last long anyway. Personally I just see this as a big flush out of the day traders who don't really understand how the markets work. For example, 95% of the market are trying to find trends, using various trading systems, and the conditions as of late would of wiped them out. I also think the big volatility for like 2008/2009 gave less talented traders more room for error. They could take 4-5 losses in a row, and have 1 good trade that would put them in profit. Now you have to be razor sharp. I think if you're able to adapt to conditions yourself and have a fundamental strategy that you can adapt between the conditions, then you'll be fine. If you had a one size fits all strategy, then either adapt or move on. Personally i've quite enjoyed it recently, and if ES stays like this, it wouldn't bother me. Trading will go on.... The day it ends is the day the world ends.
Not even sure what the clowns mean re daytrading being dead. Pull up random 100 charts of anything active. You mean to say you cant make $ trading that? What I think we have here is daytrading had gotten harder, requires more market savvy than it used to . But that's pretty old news.
Yeah lol I think now is time for a lot of the market to put their ego's and opinions to one side, take a long hard look in the mirror and realise it's time to up your game. I'm saying this from a day trading point of view. As for the market as a whole, yeah things are crap at the moment, but life will go on. Never under estimate how greedy man is. Once things start looking up again, everyone will come back out of the wood work, just like every other time before.
People want to day trade they just don't have the money now cause the economy is bad. This is the real story. .
Daytrading strategies come and go... but daytrading lives on. The key attribute is adaptability, to trade what is working now and not be dead set on trading what worked in the internet bubble and then being surprised that one is losing money.