It surely is more relaxed but based on my experience the time consumption is even higher compared to a fixed intraday trading window. Would you agree?
Why is the time consumption higher? It's up to you how many times you want to check price. You choose your own schedule based on your preference. For hourly yes, you'll have to be available more. For daily I would say few times a day is sufficient, and real decisions are made whenever price does something that warrants a closer look. If price is calmly trending down you let it go and that goes on for a few days to weeks. It's when SL is breached you get alert and monitor a bit more. When the down trend resumes you're back to your let the price do its thing mode. Gringo
Thanks Gringo... And you focus on the Qs and sector ETFs mainly? Yes, I meant the hourly in terms of time consumption...
I look at a few things. Futures I observer for clearer price but ETF's for speculating. In a few minutes one can go through quite a bit of charts. I look at Q's, gold, and silver mainly. When I am bored I look at stocks as well. Gold and silver are trending nicely so for now that's where the game is.
Well...finally... Just closed the short from 11:15... That trade really took care of the trigger happy stuff... Still I'm having a hard time to judge when to give the trade room and when to just exit with the break of the line...
Ok. Silver had a nice hinge breakout to the downside what I saw yesterday...I mean the one at 27. BO and RET... Edit: I think I have to correct myself, this is not a hinge... You use the same "toolset" used here? And place your stop limit orders a certain distance away also?