It won't really do you any good as it would take me way too long to explain how and what I do in regards to range vrs trend days. The mkt gives intial signals to me in the first 10-15 mins and my trades come 100% from what those signals are and nothing to do with what yesterday did or what I think is going to happen. That's all irrelevant. Once the day is "in motion" those signals will stay consistent (as they do everyday) and will be the ones that guide my trading. As the price bars build and build, they are telling a story. I know it sounds silly but thats how it goes. I don't ask questions (anymore), I just do as I'm told (by the almighty mkt) For your reference, I am only a daytrader of the S&P futs index
I guess your not holding overnight. The swings and total lack of volume during the night session lately would require very wide stops.
Well, no. I don't have such charts. I could, however, show you my PILE. Or if you're anal enough you can research 1994 US Investing Championship to see who won "the big money".... Barrons and IBD have the info. '94, was side-ways-to-down most of the year (chop range) with a little rally at the end... still ended negative, however.
I am going to look at it this way. The longer the period of consolidation, the bigger the move that will follow.
No, no overnights. But your thread said take the year off. Maybe you should have said from long term investing or something. Trading is great in this environment, if you understand how to trade ranges.
I hold dozens and dozens of stocks overnight, in leveraged long and short books. There is a tons of price dispersion (=chance to generate alpha) going on between different stocks and sectors, even if we're in a trading range.
What does that have to do with TRADING? BTW, you still looking at those planet positions to help with your trades? LOL.