Focusing on Just One Market

Discussion in 'Trading' started by Malinois, Aug 27, 2006.

  1. Malinois


    Was curious as to other traders experiences focusing on trading only ONE market. I am referring to daytraders in this instance. There is definitely pros and cons to it.

    Personally, I follow 2 markets intraday, but I continually find myself drawn to a desire to trade just one. Often I find that by flipping back and forth and I tend to miss things as they develop. The reasoning behind trading 2 markets is that you have more available opportunities, or when one market is stale or is trading poorly(choppy) you move over to the other. Still, I'm starting to think that maybe LESS is MORE.

    Anybody's else thoughts on the matter?
  2. Focus on "O" Market

    But seriously, the answer to your question should be a personal one and must be based on your trading methodology and your previous trading experiences.

    Have you lost the least amount of money trading both markets at once, or just concentrating on one market? Also, if you have lost a significant amount in one market, and haven't lost that much in another market, then it would be wise to focus on your strong suit. Stick with that one, the better market for you.
  3. You probably have enough time to focus on two or three markets.
  4. Get more monitors...

  5. you really should just focus on more than one market or stock

    but only if you understand how they correlate to each other

    and or if you find you can make money in them

    if not ... then stick to the market or stock or even timeframe and hours that best suits your P+L

  6. TRS


    Malinois, I take from your post you are frustrated by your return.
    Of the two mkts you follow, which has provided the better return.
  7. Malinois


    I find P&L for each is roughly the same. At times, each market is offering an opportunity independently, other times they are happening at the same time, which makes it difficult to capitalize on both. (At least with my style of trading, which starts off very short term and involves close monitoring).

    Everybody's different, for me I'm not the best multi-tasker, but it's hard to let go of opportunity. Kind of like being in love with 2 women, but knowing you probably only can handle one.

    Right now I'm vasicillating on which ONE.
  8. Move to Utah...

  9. In a nutshell :)
  10. Focus on one, the ES, that is the "BIG KAHUNA". Now if you are old fashioned and are still trading stocks then natch you will have a screen process.

    In daytrading as you suggested, it requires your utmost focus on one instrument, you need to focus on where it has been and then determine from what it is doing in the present so you can determine what it will do next. (Many will say i am blowing smoke in your shorts by saying that) ,...........BUT, it is what you must do to become a winner. it will come with proper focus and concentration and a solid WILL tied up with a deep desire called motivation.

    With all that required and a lot more...ask yourself this question....Should i focus on one instrument to learn the game or should i be a wizard in many different instruments first then narrow the field down? The correct answer should be a given.

    Think of learning how to TRADE (investing is a different game) as when you were a teenager chasing the sharpest chicks in high school, as a young stud. Man, there were so many hotties running around you were in a quandary constantly deciding which would be another notch on your algebra bookedge.

    Well, you soon discovered you were not such a prised date afterall, some laughed at you, some were duds on a date, others were not as interested in your sexual prowess as they were in your mind (gals need security after all in life as well as men do). The point being>>>>>>>>>>>>>>throughout history a good man has NEVER been able to properly handle more than ONE great gal.

    So why is it that a daytrader would think he/she can play the field and become the home run hitter he/she thinks they are?

    ONE at a time dude, get to know it better than anything else you know in life, then spread your wings if desired. I bet the farm you will find as a daytrader ONE is better.

    Be the best you can be.... it takes a lot of work and NOT playing the field.

    End of summer coming, jobs report Friday. Get the kiddies back in school and vacations over. LETS get back to making some bread
    :) :)
    #10     Aug 27, 2006