I always see people use the word "edge". In all seriousness what in the world do you mean. I don't think I have an edge. But I make money. I just look at the chart and I take notice of the PA at S&R levels in conjunction with Pivot Points and I decide who has control of the market for the time being. I don't feel like this is an edge though. And i hardly believe it is going to disappear. I'm just interpreting the human nature of markets. So my question is, whats wrong with this? Why do people view this as a scummy profession? I see myself as a psychologist of sorts. And as far as having trouble scaling??? Just switch over to the ES. I don't think you'd have any trouble getting orders filled there. By the time you are having trouble getting filled you are rich about a thousand times over. So again. Why is day trading bad?
Here's a system that I use to grade myself on a daily basis: Let's suppose the daily range of the S&P eMini (ES) had a range of 20 points for the day. Now I divide 20 by 4 to obtain a quartile (eg. 20, 15, 10, 5), which I will use as a scoring system to grade myself: 20 or greater = A+ 15 to 20 = A 10 to 15 = B 5 to 10 = C 1 to 5 = D 0 or below = F Had I finished the day with a profit of 12 points, that would earn me a grade of "B" for the day.