Fast Execution Using The Best Order Routing: Lots of typing followed by point and clicking after calculating order size on the fly while trading on a retail platform that sells your orderflow, like Robin Hood, will not cut it. If you need the speed of a daytrader you must have a professional trading platform and know how to best route your orders. Many manual trades use hot keys and some are even part automated. Years of practice and repetition is very helpful in some situations; in others, where the edge is large and well defined, this will not at all be the case (example: the old SOES Bandits). Unfortunately, large and we'll defined edges rarely come along and are rarely shared until after the edge is gone. Peoples first strategic ideas are frequently not the best ideas, even for champions, and I am liking your chances more and more because: You ask good questions Are open about your situation You are seeking to find the truth And seeking winners to learn from (Even masters of their craft often seek winners to learn from)
You can do just that following sufficient study of price movement. And likewise you can determine which trade setups are most likely to work out. That is what the study of price movement is all about.
Hey... I'm a "100% price chart TA" trader, have been for longer than some ET'ers have been alive.... and I love your avatar. You're close to being on the right track. But you're wrong about this.
Oh, sorry, I thought you were the son of Surf! Would love to hear how I've been wrong about this during my 40 years of trading.
Suggest you not make this a "pissin' contest". To be decided by the "pile method".... that is, the one with the biggest pile of money is the winner. Betting mine's bigger than yours, but that's not the point. You're still wrong about your assertion that it's possible to "filter out good trades from bad"... in advance when it's still worthwhile to do so.
I'm surprised everyone here is focusing on banishing that doubt from your mind, and none have broached the possibility of nurturing it. What you call deer in the headlights, I call seeing the forest through the trees. This was a major "ah ha" moment for me. When I see signals coming faster than I can read them, I'm not missing entries on individual charts, I'm seeing a systemic move. In the surfing analogy, this is a tsunami that's going to completely subsume individual waves. And these aren't chart signals, they market moves manifesting in the charts...false signals. I don't know if this is what you're seeing, but I do know it took me a long time to connect those dots and I'm still honing that skill (even if someone had told me this, I wouldn't have figured it out immediately). But this doubt has kept me out of bad weeks, gotten me out of positions early (and correctly), and saved me thousands of dollars in the past few months alone...And twice in as many weeks recently.
Never intended to. Well I'll stick to my opinion that while the outcome can not be known in advance, the probability of the trade working out can be determined by the price movement of the setup itself.
Quit being dense. I'm not disagreeing with this notion. What I disagree with is the thought that "you can determine in advance which trades to pass up because they are "not good enough and worth the risk". YOU CANNOT KNOW THAT!!
Be nice. Of course you can. If you have a set up where, for example, the volume is too high or too low, or the reaction is too deep etc., you would choose not to enter that trade knowing that the probability of the trade working out is lower than normal, and that is what the price movement is telling you right there and then in advance of an entry. Bedtime......
Your argument answers itself. Did you EVER have a losing trade? With your "understanding", could you have filtered it out? If you could have, why didn't you? I give up. You win. Not because I concede defeat... not because you're right (you're not), I'm just tired of hollering into the wind. (Familiar with the saying, "there is none so blind as one who will not see")? Happy now?