Discussion in 'Trading' started by nwbprop, May 11, 2002.
When do you think the markets for daytrading will turn around?
Very strange question.... :eek:
The thing that I've learned is that the market does not adapt to us, we have to constantly change and adapt to whatever the market gives us.
The markets are always turning around.
The market is running 20, 50, sometimes 100 points a day. What the hell do you want?
If you talk to any older traders, they'll tell you that the current market is indeed, "normal". So if you're waiting around for the markets to return to the 1990's boom period, you might be waiting decades. We may never see a market like that in our lifetime (cliche).
I think people have to stop complaining about these markets and start learning how to trade them. This is reality! AOL having 20 point intraday moves was NOT reality!
A lot of the newbie (used nicely) including myself traders were brought up in probably the biggest boom time of our generation. Those markets were the exception to the rule - I have realised that. All you need to do is spend more time with the research/training/strategies in order to profit from it.
I have been doing fine these last couple of weeks. The hardest days I find are very narrow range days and I have two choices for those days: a) sit it out b) create a strat. for those days.
There is no point whining about the good 'ole days and just get on with whats happening right here right now.
Traders need to find strategies that work in the current enviroment. I have been profitably trading for the last 4 years - with this year being my best - so far, year to date. I like the fact that the crazy, crazy 25 point intraday day moves are gone - I feel the market is much less risky for day traders. Granted, its great to have the volatility work in your favor - but for me the biggest thing is everyday to just try to hit singles and avoid big down days.
May 14, 2002 at approx 1:30 PM EST
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