Discussion in 'Trading' started by crgarcia, Oct 30, 2007.
Tuesday Oct 30 2007?
Absolutely, I'm more than fully recovered from yesterday's shorts
Definitely. Wonderful shorts this morning. Gotta love the earnings season.
i thrive on choppy markets
I don't understand. What makes you think that making money on choppy days is more difficult than making money on trendy days? You seem to think that "trading" is the same as "betting on a trend to continue".
Yes..just stay picky about your entries and don't chase the sloppy set ups. Let good signals come to you, don't enter trades just for the sake of trading. I have had 5 good signals that I traded today on the ES and ER2 so just be patient.
Coming into today, you should be expecting a choppy market (although anything can happen). If you were expecting something different - you've got more work ahead.
One simple setup was the 10:36/10:56 doubletop on the ES / SPY.
A trait among many good traders is to be able to harvest profits under most market conditions - or at least be able to recognize the conditions where they have an edge - and only play in those conditions. If you 'need' a trend, today would have been a good day to do something else ....
on a day like today what would you guys be happy with making? Because I'm happy with pushing on these days.
I do well on days that are choppy and I am making and few grand today. I enjoy day trading. I have been doing it for well going on 26 years. A portion of my capital is allocated to day trading.
Like what was said by someone above, be picky about entries. That is how I am, very picky about picking my spots. And if I don't get the entries that I want, I pass. People that "Have to trade" have problems that will hurt them in the end. gamblers have to gamble daily on sports, (I know a few of them) same addiction affects people who gravitate to trading. I don't scalp by the way.
I strive to make a few grand daily and if I make a few more grand for the week I am satisfied.
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