When I traded for a living I made the mistake of thinking $ could be made on a daily basis. When I would be down on my longer time frame trades I made the mistake of trying to day trade my way to green for the day. That was a losing proposition for me...referred to it as not being able to trade my way out of a wet paper bag. I shared office with guy for 3 years who started with $2mil account out of bank trading job retirement. He grew his account to $4.5mil trading longer time frames and selling options premium while I nearly wiped mine out forcing me back into wonderful corps america. I now trade longer time frames and took what I learned from my blowup slowly building acct back up. It works for me cause I don’t have time to stare at screens all day nor the desire to. Plus need to support family and $ to live so this corps job. Nice to have steady paycheck, year end bonus, and benefits. Such is life. Someday when I build bank to $2mil I will quit my job, open small biz’s, and do what my budddy did. Why you might ask am I sharing this? Because it was something that ground me down to a nub so I offer it up to any newbies that think making living in day trading. It does not have a high % of long term success rate. Couple that with small account and you know where the story ends.
Strong potential for 15 handle IHS shaping up on the 5min... seeking to cover remainder on right shoulder build out @ 70.50 or so...........
The key will be getting this over 2677 and back to the 2680 line. So far the area of support is holding albeit that we dropped a little less than 10 points below 2675. That's fairly normal. Staying long.
Everyone thinks their trading, and strategy, and skill and knowledge and tactics and expertise and wisdom is the best. ...Who knows, maybe for them, it is. But I would dare personally challenge anyone to Direct bottom line, % returns, generated,