in 2022 Swing>>>>Day in 2023 Day>swing Unless you are always long and never sell since the lower swings are minuscule before it gets gobbled up by the V.
%% Could be ; but if one include all the profitable funds that do longer than daytrade, not even close. Obvious proof. Dave ramsey says 20% daytraders make money, did not know it was that high, maybe........
One qualifier is someone actually capable, skilled and enjoying the challenge of pulling profit out of a dynamic process.....certainly disqualifies most.
Speedo, I think you're a good guy, but jesus, these types of "hints" about the type of day it is after 5 hours post market open is a joke. I can tell you with 100% accuracy what the weather was yesterday.... so let me know if you find that helpful. The question now is, did you fade the BO above 4422? Since we are fading the edges, did you go short??
The range was established by the double bottom at 10:55 EST and the double top at 12:20. Ranges eventually breakout but as most range BO's fail, where lies the edge? Don't concern yourself about what I do, concern yourself about what you do. Identifying range behavior relatively early is not that difficult for those who take the effort to understand price development and behavior.....even in real time
So here is the point though. By the time you say the range was established, meaning you had the high and low points set, it didn't make it down to the bottom again, and it broke out of the top. Now if you're taking a long after 10:55 in anticipation of a double bottom and possible range action, fine. And if you're taking a short after 12:20 in anticipation of a double top, and establishment of the top of the range, then fine. But this means you're trading a range before it is a range. And once its a range, it no longer behaved like a range. The lows at 4404 were never reached again as the range bottom, and the top broke, hence the range top failed.
IF the highs and lows of a range were exact, trading would be pretty easy. Sometimes a pattern simply rhymes rather than meets an exact definition. The question you ask yourself is...is it a trending market or is it a ranging market. Of course given a wide enough range with clean range legs, it can be both with the understanding that S and R are going to be strong at the edges (roughly within 1/3 of range) which suggest more of a scalping environment rather than a swing environment which I define as a setup which offers at least 2x initial risk if the trades succeeds.