Your method is not going to work. If this kind of trading method works, there won't be only 1% of daytraders to make consistent money. There will be 80%. You go to a casino to play roulette, buy 36 numbers out of 38, you will have +90% probability to win each game, but will eventually lose money. But before you lose, you may win 10 games in a row.That doesn't prove you have a winning method. To make consistent money in daytrading, one need at least two elements: 1. A pattern or a setup that has positive math expectations. 2. An entry and exit method that can help to realize your positive math expectation. Most people fail because of lack of the second element. But you have neither.
%% Part of it sounds like a simple math problem; make money for ten days + lose it in one?? Almost as bad- lose one years profits in 1 day. !}As far as a coin flip, for fun I flipped a silver coin, but before I did/checked the datre/1958 or1955 a real good year.So find something else fun. [2]Amazing how so many + i've done it to; confuse profit with fun.[I have to make a profit/as much fun as i have?? [3]NO short system makes what a long does; discretion or FEB may do better.Trade a smaller % of your investment wins.Any investment wins??So even if you lost a hi% of countertrends; if you traded smaller countertrends/that could work. [4] Mark Weinstein learned a ,lot from his fun/bird feeder...……………………………………………………...I almost traded a inverse ETF on Monday, but profits on upro exit were better/so I did not do counter trend/could have.
You know what the index is right? It's based on 100 stocks, although the top 5 stocks are about or close to 50% of the index. I will never understand index traders who don't look at the top 5 stocks to find better predictability in nq. Maybe start there. I only trade the top ~10 nq stocks minus a few names. I only find ultra high win rates on QQQ on the short side on day trades as the high win rates on the upside for the index are easiest made by buying pre market and holding end of day. I only find ~2 easy short setups a week on QQQ. For these reasons I cast a lot of doubt over indicators effectiveness when day trading indexes. Using the mentioned indicators for swing trading is fine and that's when you go heavy when you find things are oversold. You also need to consider volumes on qqq/nq and compare them with stocks and you need to consider the fact that institutions aren't day trading indexes either (as much as stocks) in the same way us traders are trying to earn income. I don't think there are a lot of winnable strategies out there day trading indexes. yes these traders exist, some even on this site, but it seems obvious to me that there are far more winnable strategies trading stocks than indexes both on the manual and algo side. With your experience and capital I think you'll find trading tech stocks a breeze. In regards to counter trending, I love it when I get stopped out - i just go the new direction with heavier weighting LOL. Do some back testing with a variation of D'alembert you are comfortable with.
lol! um so you cannot see or find a way to enter with trend trades but you find all kinds of ways to enter counter trend?? weird. 1 just the button that says mkt. 2 use a stop to enter duh 3 this post sounds like a bunch of garbage 4. lol 5. everyday the mkt has pullbacks if thats your entry idea. 6. maybe explain how u enter counter trend 7. counter trend trading in this environment will get u crushed
never understood why some traders insist on standing in front of a train. 99% of my trades when the daily chart is trending up are longs, why even bother with shorts? Yes you will take less trades but you will also have less losses. Pass on $100 to make $1000 with the trend. Not to mention when you put all the Tf's in your favor then there is a MUCH better chance the trade will go in your favor.. stop fighting the trend and jump on.
No back and fill has been going on for a week. Shorts (for me) have been targeted exits (IOW, scalps only). However, the travel of most of the with trend moves is stunning! I use 3 minute charts, and most all of my signals are volume-centric.
I’ve had to cut my contracts in half when trading nq compared to ES due to the travel and volatility. I don’t remember ever having to do this in years past.
The NDX had its strongest Aug since the height of the dot com bull. Every small pull back has buyers standing in line miles long. This has to be a blow off top -breadth is the worst since 1999 & we all know how that ended.