If you are a day trader mainly by following the trend, I would appreciate it very much if you could answer some questions. Comments from former trend followers are also welcome. Please feel free to skip any questions that you are uncomfortable with. 1. How long have you been trading? And how long have you been a trend follower? 2. Are you a strict trend follower? e.g. if you see a chance to trade range, you feel pretty safe about it, would you do it? 3. After you started trend following, how has your trading been evolved? More or less strictly follow the trend? 4. How is your winning rate like? 30%, 50% or 80%? Do you rely on big wins or many small wins? 5. What's your biggest win? 6. How many trades do you make per day? 2~3, 10 or more than 15? 7. What are the biggest problems/dilemmas have you faced (or are facing) as a trend follower?
If you are a day trader mainly by following the trend, I would appreciate it very much if you could answer some questions 2. Are you a strict trend follower? e.g. if you see a chance to trade range, you feel pretty safe about it, would you do it? If you're just following a trend or range to base your trading decisions...you're bound to get fucked. in my opinion. You should have a certain degree of foresight and expectation and rationale behind the chart. Kind of like looking at, or going behind the scenes, of a stage play -- or looking at the mechanical movement of a wrist watch. 5. What's your biggest win? ...I'll just release a bright-eyed, glowing smile at this question. 6. How many trades do you make per day? 2~3, 10 or more than 15? Don't scalp; trade/time the big/macro moves in the day....the high/low points. So to answer your question, basically two. Always remember trading, especially the shorter time frame, is part art and part science. Each new day is a unique ratio between the two Keep an open, nimble, calm, fresh mind daily.
" 6. How many trades do you make per day? 2~3, 10 or more than 15? Don't scalp; trade/time the big/macro moves in the day....the high/low points. So to answer your question, basically two." Do you have a service that announces the high and low as they happen?
I only care about making myself rich. -- and besides, I don't think you can even truly teach expert/wisdom trading. The partial answer to this ties in with my reply to question two. The Holy Grail, or skill, in trading...in my opinion...is the ability to predict or trade or call the Daily SPY/DOW/SPX chart the plutonium in this whole picture is leverage/options
Yes that would be he holy grail. I think in anbodys opinion, to know what is coming next. You can do that consistently?
If I may. I am day trading and my only goal is to reach my daily plan regarding profit. If it takes 10 points on SPX, NDX, DAX or whatever I may choose, that's it. I go for that, no highs, no lows, no swings just the 10 points I need. So far I succeeded for years very consistent. I have to agree more or less what many of you wrote
7. What are the biggest problems/dilemmas have you faced (or arefacing) as a trend follower? Working up the courage to take a small loss to test if trend or not. And even more courage to buy more on pullbacks
I trade first hour only, gaps then using techniques: https://m.youtube.com/playlist?list=UUA7QSCHWRdRrJEEjfLq3g4A as always, good risk mgmt is a must.
Is it possible for emotions to be externally influenced, thereby creating a market through daytraders' impulses?