How do I develop my day trading strategy?

Discussion in 'Trading' started by NeedToLearn, Sep 13, 2017.

  1. palm44

    palm44

    I agree with a lot of what he said to you. If you can master Jigsaw where you understand everything it is telling you I think you should be fine, less then 85% make it in this business. But to be fair and honest, advice from a professional trader and hedge fund owner, if your not profitable by now game is over (unless your already rich), if you refuse to give up, try a completely different way and completely different category of futures to make money if you've been doing the same thing. Like go fundamental and siwing trade if your a day trading tech. I'm just being honest with you, these past years have been so easy for us traders to make money it almost is boring. best of luck, mkt delta charts is great for charting fyi, and pick one contract and know it back and forth, try the DAX
     
    #71     Aug 18, 2018
  2. palm44

    palm44

    1st-be proud of your 2 months, you[ve beaten the odds and this business only take confident people.
    There is volatilty, break outs and volume, your just reffering to way above avg. There are always trades.
    Worried about learning different trading way/strategy- As time goes on sometimes you realize it and lots you won't but your learning lots of different ways to trade you just don't know it yet; and always don't be afraid to try new things.
    Dealing w those days-u can call them whatever type of days you want- I call them bad days and my bad days are when I am not making money or am down which happens about 3x a month to me, 1st I switch contracts and if I still am just doing awful and lets say it's an hour into my trading day I get up and go home. I am off and am losing and there is no point to continue, I am reckognizing that something is wrong and being honest wth myself. I've been a trader for a long time, now I own a hedge fund and that is one of my rules for all employees not just the traders. But don't blame the market and maybe don't go home but watch it and paper trade so you can learn what your doing wrong or what you need to be doing or how the market reacts on these days your having trouble. Manage your losers/losses/bad times.
    I then come back the next day super ready to attack and usually make an avg week gains in an hour.
    No to bigger frame and all those questions. Learn the market. Don't worry about how long your trading or any timing, your in this difficult yet excitling business to make money, worry about making money as that is the only reason we trade, the rest will take care of yourself.
    Learn to read the tape/DOM/ order flow-
    Make sure you have a the best data provider, the best and fastest platforms, tt, jigsaw, cqg

    I hope that helps, I know I was sort of vague- but your problems sounded like you needed to hear how simplistic this business is when successful even though when I'm watching my 14 screens it looks like chaos even if im up 100k the 1st hour of the day with all the different sceen toys
    best of luck
     
    #72     Aug 18, 2018
  3. TraderEX

    TraderEX

    I used market replay until I cracked the code. The same time in the past over and over using ddifferen t valued brackets. Collected all the data, anaysis, planformulation, execution. Continue to reanalize and ad filters as needed. I trade es emini. Do you want 3-10 trades or a days pay?
     
    #73     Aug 19, 2018
  4. TraderEX

    TraderEX

    What amount in your account to be able to play for 100k in an hour?
     
    #74     Aug 19, 2018