Last summer alone gave me about half of my profits for the year... reminded me of the good old days...
There are two questions being addressed here: is daytrading easier than it was a year ago and is the market easier than it was a year ago. For me, the market is much more difficult than it was a year ago, but the trading has become much easier because the tougher environment has forced an iron discipline which I did not have last summer. Therefore, I'm making more money now than I was then.
Please elaborate! Only in case there's actually any substance to your argument, of course... ~Scientist
I think last summer had more "residual momentum" on an intra-day basis. In other words, a break of minor/major S/R had more follow thru and traded "cleaner". I also think the selling, up until july 24th, was more "natural selling",which combined with program trading created this momentum follow thru...
For my style (buying bottoms/selling tops with volume divergence) this year has been easier. I got stopped out in more trends last year. I've been able to use tighter stops this year also. So I trade more contracts to keep the total risk per-trade the same. Some year I'll learn how to trade trends in the emini. For now, I love divergence trading.