Not a good day for me today. I traded trend during chop. Would have had a good day with my normal pivot strategy. Woulda, Coulda, Shoulda do not add dollars to the old account though.
Most days have trend I think. Even days that are considered to be chop really do have trend. For example, trend was long all day today after the bullish divergence.
JJ, thanks for the link. Interesting that he wrote this in 1989. I just finished "Trading in the Zone" which suggests a similar exercise. Any suggestions for a simple system to use for the exercise? Need something with very clear signals, no discretion..... oh, and profitable!
B1S2...... I must say you are a nice guy...the daytrading experience is not nice to most....position trading is your cup of tea, no doubt...and the smart guy does just what you do.....I hope that comes through as a compliment.....have a great life...
Wouldn't that be a feat? If I were able to achieve such precision, million dollars a year would be an easy walk in a park. I am looong way from being anywhere close to it. Cheers! and Happy Trading!
Sorry to hear that. I KNOW how much it hurts when a day ends up in a toilet despite best efforts. There is always another day. At least you are not holding a - 10K position into AH like I have in the past. There is always tomorrow.
Jaxon, being truthful about discretionary trading is dangerous in the futures world ..but u r 100% correct.......bingo..
Friendly warning : Smith states in his later book that this is overpriced (by the publisher, not Smith who relinquished all claims on rights and royalties a LONG time ago), he regretted producing it as a vendor and the methods havent worked since the 90's. Lots of other much cheaper books out there on price action.
bring up bars only in the morn on es.....5 or 10 min or even 15...min chart...watch it either run or chop...demand supply