I agree, don't like volatility at all and it has not changed my small targets any, I look at my day trading as the tortoise, slow steady and the same, don't like excitement, when it gets crazy dangerous, into my shell I go, leave the big moves for homerun traders to make up for all the losses. There is going to be sum where they made a killing yesterday, but those who stick around decades seldom make huge one day gains, trading is all about containment of risk.
Yes, it best you learn. I started hiring students, then going to the dean and make programs for classes to work and I would pay for parties or lab stuff they needed as I was learning. First I learned to code Tradestation trading language, then went on to C++ to start doing my own stuff. Always saw trading software was far cry to anything good. It was only 4.5 years ago I think where I started a staff and told them what I wanted and charting and platforms completed this year. But to do the testing of ideas, you have to have a way to test them, for five years I used Ninja and they are slowly getting better. All software's have unique things about them. But it you are going to want to make unique risk management rules, or how to go beyond the limits of most software's, you will have to do from scratch.
This should be tattooed on every trader's forehead - in blood Amen I made just a little above average - but called it a day much sooner - then commenced to watching Watching nurtures patience..., discipline..., detachment..., even objectivity - never bad things to provide nutrient to RN
I like reading the posts from both you and Handle123 in the past couple of days. Whereas some traders are perhaps mad they didn't get a nice chunk of the huge down days on Thursday and Friday, what's more important is making a smaller yet consistent profit almost every single day of the year, not hitting a home run from events that are quite rare and happen perhaps just a few days of the year.
Hello @Handle123 Do you mean your entire trading session will be done in 20 mins? Also I have spent a considerable amount of time analyzing this chart that you posted on August 17th. Can you clarify what you mean by " trying to make plus one tick if you are at a loss?" exit at a limit order? Not sure what you mean. Thanks have a great day.
When volatility comes in, I have Well hopes and reality are different, some day after twenty minutes are no signals so been pushing it longer. Am only trying to make four points. Say you go in Long at 2010.00, after three minutes price is at 2009.00, I will change my target to 2010.25 so I make one tick on trade hopefully.
J Not sure if you're trading today - but if you are..., likely heard a lot of news (BS) regarding the mkt over the weekend Set it aside (detach your ass) and trade the chart/ PA in front of you Recall..., Mondays can be a bitch - proceed accordingly and make them not RN
Got back in town Saturday. Rested up and reviewed on Sunday. Came in to the day ready to be patient. Big drop in equities overnight. Decided to just trade 1 contract today due to expected greater volatility. The bigger moves threw me off today. I needed bigger stops just to avoid the noise which then made me more hesitant. Was doing well until I lost some patience on two trades (out and reversed). Considering I was away for 3 days, it's Monday and was volatile I did ok but the mistakes I did make were especially frustrating. I was at least aware to not get caught up emotionally in the big swings and missed profits. Although the missed profits were frustrating too I, mostly, did not let it effect me and tried to stay patient. +2.75 pts today Doing a little review then back at it again tomorrow.
So a maximum of one point per a trade? Ok, what if price drops, there is a long red candle from 2009 to 2008.75, you will keep your limit order?