Some days I feel like I had a great day. But if the market moved up 1% or greater and I happened to be heavy on cash I can easily underperform, not so fun when you look at it that way. If I was trading a $10,000 account with $500 day trade margins it would be incredible I suppose.
Personally, I'm waiting for a China - US trade agreement before shorting for a swing trade. That day might start off with a nice, long green bar on the daily only to close lower. Also known as selling the news, the market participants may soon focus more on economic growth concerns out of Asia and developing countries.
I don't really wait or pay attention to news. I believe that any news is reflected in the market's price and direction. ---Perception of news is what the market works off of---
For example--- If news is bad in an upmarket, price will pull back and then continue to rise. If news is bad in a downmarket, then price will drop in a stronger fashion and continue downward. Rocketmoon believes that he sees tops literally every 15 minutes. He's a bright, energetic and decent being, but will be wrong until he's not.
Your greatest profits are with the trend using leverage and for the most part, sitting on your hands. Most traders or would be traders, are unable to let scenarios play out.
Must let profits run and cut losses immediately. My best day trades have been when I have been stopped out and I get right back in within 3 to 5 minutes in the same direction.
Interesting and thank you for the thoughtful posting, but why not just develop keen directional knowledge and ride the wave. Your suggestion is to build an anti-position and then be covered if it goes against you.---I can't agree with this and feel it is defeatist in absolute nature.
I don't care for the challenging aroma of your posting and feel that a stronger high line could have been taken here.