Well, today is day 4 of no day trades. I have 4 swing trades on and they are moving along. It has been VERY different for me. Not checking the chart every minute, just letting the trades work. Different for sure, but so much more relaxed. It was time for a change. Day trading just wore me out after years of it. I am not saying I will make a ton of money or not. Just changing things up.
Congrats, took me good deal of change not to move stops on long term trades from breakeven but stats said I be cutting profits short by moving stops to lock on profits. Scalping all day took a toll on my health, 12 years of different cancers or parts had to be removed. You might want to study retracement tops then learn how to hedge and add to your position on retracement then lift the hedge.
wow.... I never thought day trading could ruin my health,,, but yes, it is just too much mental stress, too many decisions, too much of alot of stuff and just not worth it...
I guess you want to quit your job, and be a full time swing trader. When you are full time swing trader, you probably spend < 1 hr / day trading. So you have to figure out how to spend remaining 10 hrs (besides sleeping) in a day. Do note that there are no swing traders in the trading houses/hubs.
I seldom manually scalp any more as I have all automated. I have traveled short distances, can't play golf or tennis at 68. Have too much time, except for going to doctors, tests or treatments. Retirement not all that much fun as many would think. I can't seem to develop systems any more. After 22 months of marriage , getting divorce, I don't seem to fit anywhere. Two major arguments a week is worst than trading, which I don't enjoy much any more. I don't like most people. I would be a good greeter at Walmart so long I could carry couple glocks/38s for theives. Make My day.
Day trading for me was just like having a job. Although being flat at the end of the day meant I could take a day or a week or the winter off if I felt like it. When I quit working at 55 I promised myself I wouldn't play any sport where I might dive for something or get tackled, so tennis, softball and hockey etc were off the table. I've got a few years on you but I'm still fairly active, golfing, fishing, hiking, playing in my shop or just having a beer with friends. An hour or less each day looking for trading opportunities. But I do agree with you that these golden years ain't what they are cracked up to be. I now get injured by sleeping wrong.
I quit(retired) 2 jobs in 1999, body was spent parachuting etc for our government and post office, had too many holes, injuries and herniated disks. Scalping/long term commodities was incredible money, had enough for lifetime at 43yo. Bought a rv bus and traveled usa for 6 months till I got bored. I got a cdl and drove trucks till it became a job and quit for few years, then got job repairing wind turbine blades, I don't have fears so height was fine but 6 months of wind pounding me into blade even though stationary, bruised too much so went back to full time trading for few years. Then hired on replacing litebulbs on towers, never got above 500 feet cause have asthma, did that 6 months, climbing was hurting knees. Went back to trading, it like nothing changes, same shit each day, same patterns, same same same boring ass trading. Nothing changes !!! I get damn leg cramps in middle of the night, take magnesium, drink electrolytes, potassium, walk 2 miles, I have all kinds of pain in my life, but those cramps right up there with canning on feet. Fishing sounds good, maybe go to Columbia River for salmon.
That's the best part about swing trading....you can go on with your life and not be stuck in front of your computer over trading. Anyway its false economy...with day trading you are not only working harder, but probably making less in the long run! I guess one could set up an algorithm to auto trade but the all you are doing is automating bad trades instead lol. Any day trade is basically just a poorly executed swing trade lol.