This thread is really informative. While reading all writen posts I gained much information about traders who I really didn't know until today. My opinion about the greatest daytrader is that, any trader in his/her life leaves overnight position sometimes. Everyone knows this statement: The more risk , the more return. A.T.
Agree Three Why predict so long? You don't need to, as a daytrader. Every second, market is giving information to you about its trend, where to go etc. I might say something like from yesterday that the index may rise. But as soon as the market tells me wrong, I'm glad to eat my words. My mind may change even in a second. NOT right! It should be in a tick. ---------- When I predict in a longer time frame, I also think of in what way the market performs will prove me right. In addition, I also think of in what way the market performs will prove me wrong. In this way, I won't be stubborn enough to stick with my prediction when the market tells me wrong. There're clear rules as to what I should do when the market does the opposite. I won't let my losses to grow so big. I cut it fast. -------------- All are my 2 cents anyway.
Do I believe in Santa Clause? --> No! Did you see Elvis at the gas station yesterday? --> Who is Elvis? There're many Elvis in the world. The story told by diligence is interesting. 20k/day -> 7,300,000/year Throw money in and gain huge. Why manual trade then? No point! Not sure how much does this guy put to achieve 20k/day.
Everyday 20k, it is hard to believe. No loosing, only winning. Playing to open-close price: is it useful or not? Any advice.... A.T.