How quickly do you make decisions? Does time spent assessing a trade, equal good results? Beyond seeing a setup, making a decision, getting the correct price levels etc, how long do you spend on a potential order-including the time to enter the order , by phone or otherwise.
Patience is not a hallmark of my personality. So, in the markets I am learning to wait patiently for the high prob set-up. I am intraday trading on 1 - 30 M timeframes. I would say I am a scalper. Most trades take 3 to 20 minutes before exit or stop out (I use time limits, too).
Good point. There is no "correct" way to trade. One should trade in a style that suits one's personality. Me... myself... I love to make a decision in seconds and make 200 trades/day. I can do it in my sleep... Like it's 10:49... and I've made 54 trades today... and I'm bored... And I'm surfing YouTube and ET. But someone can be equally successful... By deliberating longer and putting on medium term positions.
Surprising number of scalpers; (ok, like half a dozen-not exactly a demographic sample) but is it possible more scalpers voted so far-because they make decisions quicker? Do i bother voting in this poll? Binary -takes less than 6 seconds, no prob, yes-done. Done, you read that in more time than it takes to vote. No problemo. Perhaps this poll wasnt the best idea, i guess im attempting to get an insight into the decision making process.