How to change from futures book scalper to longer term trader

Discussion in 'Strategy Building' started by downtickboy, Jun 7, 2005.

  1. I'm finally working through a similar process right now in deciding which time frame I should stay in, weighing the advantages and disadvantages of pure intraday setups and longer time-frame directional trades. I thought I needed to settle upon either/or, but in the process of figuring out which, I've decided upon doing both.

    It's a struggle trying to mix time frames in the same market, having conflicting sets of mental parameters in holding longer term positions as well as reading the short term. But after a bit of mental adjustment, I think I've arrived at a good place where I can benefit from both sides -- as it turns out, the advantages from one side cancel out the disadvantages of the other in terms of patience and selection.
     
    #21     Jun 8, 2005
  2. ^^^^^^^
    Downtickboy;
    dont know if this will help lengthen/strengthen your derivatives time frame but it helped me do the same in high liquid stocks.

    Look , record data much on time frames longer than my average trades;
    my average trade isnt months, but study a lot of monthly candle charts.

    For sure for me longer time frames are less stressful, but;
    we need fast MM/specialists also.:cool:
     
    #22     Jun 10, 2005
  3. I too, am at that juncture of having to evaluate if there are better timeframes that suits my personality, risk tolerance and life stage. The conflict is pretty pronounced between scalping and swing and the only way I can see resolving or managing this conflict is to automate the short term and be "present" for the long term trades. I am sure there are talented ones out there who can do both w/o much conflict and those are truly the superstars of this field.
     
    #23     Jun 10, 2005