I was listening to a podcast lately, The guy featured was a well known veteran. He said he was trading monthlies only, because most of the industry is monthly based. As they have to close and report to their clients on this basis. So there is less competition extra than intra month.
Oh ok adding daily and weekly in there.. making more sense now. I mean trading a monthly chart, that's 12 bars per year. That seems a little excessive and a little more like managing a retirement account. Not saying he didn't earn the right to do that, but that's not really something the average intra-day trader can do.
Hi, I just mean NQ, ES, YM and RTY etc. Whether that be an futures form, micro futures or yes ETF SPY/QQQ etc.
I think it's controversial, at least to me, because you are saying nothing about the cons of spread trading. Who are you competing against? I don't think there are many places in the markets which are both liquid and unexplored.
Thanks for compliment. It is needed. All of that could be avoided by picking a position and swing trading to avoid the noise and pony and clown show from the bots playing around with the dom prices.
I dispute that there exists a substantial and meaningful population of “average intra day traders” - beyond ‘new’ money. They’re on the endangered species list.
Thank you for the clarification trdes, I could be wrong, but I read somewhere that ES is not good for intraday swing (targeting 4-6 points per trade) trading, only scalping.