Wrong. You have more control intraday that overnight because of overnight gaps. Your risk control is no longer "perceived" or an "illusion" once you have a stop loss in place. Big players moving the market are not a problem. Sometimes it goes your way, sometimes it doesn't. In the long run, it doesn't affect your pnl. There are patterns all over the charts regardless of the timeframe. From the 1 min to the weekly chart. There are even traders taking trades off the tape/market depth... I'm sorry to see you couldn't find a way to profit from the patterns you see on the intraday charts. Maybe you can put in more screen time, obviously seeing intraday charts "all the time" doesn't work out well for you, yet. Stop embarassing yourself and do yourself a favor: 1) Get a decent intraday charting software with a good data feed. 2) Pull up an intraday chart of RIMM or ES You will realize that most of the time the biggest intraday gaps you see on any liquid stock of future is of one increment. Overnight gaps on the other hand can be much bigger which makes risk control difficult, to say the least. That's one of the reasons daytraders are flat before the closing bell. As simple as that.
along with the tl's ,you need to watch more than one instrument,sometimes when selling off ,the naz or djt or uvol/dvol will turn before a tl in es or vice versa,these let u know if a tl will hold/ fail or not or even get touched
Cesco, If you want to gamble come to my casino. You are chasing a pipe dream if you remain short term trader. I do not care about your insults or innuendos I have seen great traders and I have seen losers. You are not a winner if you lower yourself to name calling. Some people are too stubborn to admit to the follies of short term or too low in funds but EITHER way they are setting up for a fall....
Making Money is where its at.....wether it be in minutes or months. But the biggest money is made and lost in longer time frames thats for shizzzzzi....
Like i said... i don't think this guy has traded a day in his life. Can you please tell me what something as simple as what lvl 2 data is? is it the data that gets lost in all of your "gaps"??? i'd be surprised if u had an answer for that that wasnt copied and pasted from wiki... by the way, who gives a shit how many posts someone has. just b/c you fill up the forum with your idiocy doesn't make you more knowledgeable than someone else... i dont see much correlation with # of posts and trading ability (im sure with the exception of ppl that have been posting for years)... i think your posts on this thread has pretty much lost you any credibility that u might have had on this forum... 04-05-09 05:06 AM Quote from gotohell22: those aren't gaps... do you really trade??? Ive always wondered what percentage of ppl are real traders on this forum... I find that the journals are the only really worthwile thing to read... its just too much of a hassle for someone to make it up... Mr. 19 posts talks. Your silly attempt at trolling failed.
Well if you had been here longer you would know that not only do I trade, I have experience trading different instruments. You can have issues with the way someone trades, but only juveniles resort to statements such as do "you even trade?"