is it better to daytrade or swing trade

Discussion in 'Trading' started by ineedmoney90, Jun 1, 2023.

  1. 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.
     
    #41     Jun 21, 2023
    murray t turtle likes this.
  2. %%
    Could be ;
    but if one include all the profitable funds that do longer than daytrade, not even close.:caution::caution:
    Obvious proof.
    Dave ramsey says 20% daytraders make money, did not know it was that high, maybe........
     
    #42     Jun 21, 2023
  3. speedo

    speedo

    One qualifier is someone actually capable, skilled and enjoying the challenge of pulling profit out of a dynamic process.....certainly disqualifies most.
     
    #43     Jun 21, 2023
    Georpe, MACD and murray t turtle like this.
  4. LOL:D:D
    LOTS of things work in an uptrending bull market. Good countertrend today
     
    #44     Jun 21, 2023
  5. speedo

    speedo

    Today is a trading range on the ES...fade the edges.
     
    #45     Jun 21, 2023
    murray t turtle likes this.
  6. NoahA

    NoahA

    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??
     
    #46     Jun 21, 2023
    murray t turtle likes this.
  7. speedo

    speedo

    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 :D
     
    #47     Jun 21, 2023
  8. NoahA

    NoahA

    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.
     
    #48     Jun 21, 2023
    murray t turtle likes this.
  9. speedo

    speedo

    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.
     
    #49     Jun 21, 2023
  10. KCalhoun

    KCalhoun

    Both...

    Buy the open, sell the close
     
    #50     Jun 21, 2023
    murray t turtle likes this.