As I wrote before ,,, I switched to Swing trading about 60 days ago after a long and very exhausting battle to day trade index futures that lasted for many years. So, here's a new development. I have executed 2 open and closed longs for NQ and done well (one for 183 pts. and one for break even) . I started to backtest and look at YM and ES as well. Here's what I thought I would find. There are times when I may have an opportunity on one of the others if not on NQ and so forth. So,,, like right now I am long YM and Long ES since yesterday ...but NQ I have to wait for a new setup. more updates later.... BUT I am so freakin happy with my decision. No more stress of all the many many decisions of day trading. I realize now that was just wearing me out.
I don't blame you man. It is a different world. Been working on the mechanics in sim on some short day trades mixed in with the longer swings, and the math just does not work on the short side. (Of course, it is a bull market. Duh). But I gotta' tell you, I am starting to smell something off. I am going to go to my grave regretting missing out on the biggest point swings in NQ and YM history ever, that happened in 2018. I was too stubborn and stayed out of the potential moves, and missed out on ALL of it. Now we are at 4Q, effectively. This is where I said I would jump back into the swings. I hope I can make it and the Q is kind. If not, I'm fuxxored. Don't fall into the complacency trap though.
I hear ya... all I can say is thank God I was willing to look at longer term trading before I lost my mind and all of my money. Not even sure how I got to this point and this decision
I am going to bet that you, luckily, saw what you had in your account, did some calculations on the overnight requirements for holding positions on your instruments, did some chart study on the swing ranges, histrionics etc etc, and came to a conclusion that it would work. I also reckon' that you were able to put aside all the mental flogging of the assholes out there who say that if you hold past the market close, some major world news event is going to wipe you out. They say that if you do anything other than DAYTRADE the futures, you will die, because some news event that happens when the market is closed (The stock market) means that you will be wiped out in the morning. It is all doom. Meanwhile, in the glorious hour from 5PM ET to 6PM ET, the market closes and opens exactly where it left off. No gaps, no fuss, no muss. It is RARE for a major "shock" to happen in that one hour. I recall seeing one about, ooh, 3 weeks ago? It was a shock move down, but guess what? It recovered in like 5 hours. *sighs* Bloody electronic markets.
need to work smart... I posted many times that during a bull market when vix is under 15 there is just no money to be made intraday.. look elsewhere... rule of thumb is if the average range is bigger than 1%, then it's worth a play.
Day trading may not be suitable for everyone. similarly swing trading may not be suitable for everyone. I moved from Swing to day trading.
How long ago and how is that working for you? I ask because I moved the other way. Mainly because I get about the same return on my capital and I have a lot less stress and a lot more time to enjoy life.
That is an important point maxinger is inferring there. Some people's brains are geared for day-trading, some for longer-term. You just need to find your brain. You just need to sift the chaff from the wheat, if you get what I am saying. Day-traders and swing-traders stand apart. I myself have been trying to find a way to meld the best of these two worlds, but have not found a solution. But if you choose to focus on swing, do NOT look at what peeps speak of about DAYTRADING. That is a different ball of wax. Man. I repeat this only because of what you mentioned John9999, that you went from day to swing., It is tempting to compare the one to the other, but they are not the same styles.
I moved > 10 years ago. It suits me well because I am the hardworking workaholic type. day trading (and night trading ) allows me to work and work and work. swing trading stressed me up because trading hours shorter and holding position for many days / weeks/ months stressed me up.
I'm similar, I try to do both but I like the burn from scalping on higher cars and staying focused keeps my brain fitter. Swing makes money too just I really like being able to get out when I want to and not have that itching concern over the weekends or when traveling/flying etc.