Quite a post by someone with 6-7 CLOSED losers in a row. 3 or 4 in ES and 3 in Crude Oil. At least the above gibberish is 50% correct. All you produce are losers. You are a dream to be faded. Thanks. 2% TLNW in every trade?. You must be broke by now, if you were actually trading. "Snailing in and out are SUPERIOR behaviors". franT.
That's a bit harsh. I'm sure you've had just as bad days. Give the guy some credit for a) being honest about it, and b) still having the conviction to keep going (and give the play-by-play, no less). I know if I have a day like that, I leave work early to go drown myself at the bar.
Maybe reality is harsh. All facts as stated by the "trader". I invented nothing. That he loses is fine, par for the course. It's the 'superior' attitude of a wannabe that really gets to me. The best course of action for me would be to fade him, and be silent about it, but since he has a cult following of 'group-thinkers' I felt I should speak about 'the wizard of Oz'. Probably a mistake.
You ask a very tough question...you're asking for The Crystal Ball million-dollar question, I can't comment on swing trading time frames, or investing time frames ...but for the day... You have to consider the previous day's close price, premarket movement, economic reports, how Europe and Asia performed, and draw up some potential support and resistance levels in your mind...and let that all unfold, And even then, you have to remain calm and flexible, It truly takes a skilled/experienced (and maybe lucky) trader to succeed in this game in the long haul,
In my mind, the shorter the trading time frame, the harder it gets and the more pronounced mean reversion becomes. Trend trading intraday for me is impossible.