I have never found it to be different regardless of timeframes including monthlies, but any timeframe beyond 29 minutes gets hedged, with right number of contracts/shares to options/other futures or stocks goal is to get risk down to nil should price go wrong way, and in my case on longer term trades, am often way too early. Regarding intra-day trading, speed of price when it hitting the protective stops and reduction of volume to me shows divergence of the norm, volume equates to traders interest, less interest of pushing higher at this time has shown me just as fast return, so often I might be short, price jumps up 1-2 points, but cause it took off so fast, I will add to my short position(don't recommend) but not increase protective stop risks on added positions, when the price comes back down and too much time has past since I first got in, new target will be plus one tick on original and all added included. My intentions are to get out of a trade that is not going anywhere base on time in trade but make something by adding to losing situation. But again, don't recommend adding to losing trades, when wrong and I have two losses(use to be three full losses), it is usually much worse than how much I can profit. You have to develop system that has losses under 5%, doesn't mean you knocking out 95% winners as most times in scalping there is 40-60% scratch trades and half or more are making one tick.
Yes 30 percent will the market trend. The other times it will counter trend or range. So why is it a lie? You need to identify when it is trending. During a bull market in stocks, the long term trend is good for a couple of years, and you can find times to trade long during that time or should not be trading. So 30 percent trend, 30 percent range, and 30 percent counter trend, and 10 percent random or sideways price action. So whenever we see sideways price action also called a bard wire pattern by Dr Brooks, we don't want to be in a trade. If market is counter trending during a strong trend, we can either scalp the counter trend or wait for the overall trend to resume to take a trade. In a range market, we want to wait to take a trade off of one of the ranges.
Thank you Sir! I'm reading your past post and i must say your wisdom and smarts is way, way beyond my level. Your sharing is equal parts encouraging and sobering. My hat's off to ya!
counter trend is also a trend a range may be a range M1 but in a hourly, it does not exist. A friend may be short term, medium term, long term, or the best friend, is the one night stand, friend
There is actually good amount of very decent traders at ET and also extremely talented at trading options. So it is best to bone up on trading options as they can offer wild percentages and also offer smoother equity curves when as @oraclewizard77 correctly posted how market moves overall. Four years ago I never thought I would learn to trade options for profit but did it for my best buddy and this has opened the window for so much more including longer term hedging. I have small edge over 55% of finding wave extremes in commodities in trending market, so I will hedge "open profits" as I suspect a retracement, since this is by far one of the riskier events undertaken, you have to structure the hedge in a way to get back some of the loss and yet if wrong the position does not loss much as when system(I) am wrong 45% of the time. So I find trading long term much more like a chess game of constantly planning the "what ifs" and by keeping a very open mind. Unfortunately, there have been some very very bright traders who came to the forum and because of loud mouth attacks, someone who many only posted 5-6 times leave, I have thankfully PM'ed them before they leave and received 100 fold on how they trade and they sharing has added to what I do. Another area that offers very consistent profits is commodity spreading, pit traders for most part made most of their profits from spreading and for a retail trader, margins are lower and don't think for an instant there is no money in them, as there is, but like many speciality trading, it takes great time to learn how to trade them. I have not taken @bone course, but have spoke to few of his students and he is real deal on spreads. I trade spreads using automation and the software packages don't offer very good charting for spread trading unless something new has come out, I had to make my own which becomes a synthentic of either subtracting one form the other is simplest terms, and they can be day traded well, same as if spreading stocks or ETF's. As far as brokers, I have found @Robert Morse to very knowledgeable regarding any kind of assistance dealing with brokerage and he is very knowledgeable in options, he represents Lightspeed and they trade Equities, Options & Futures. There are good amount of Hedge fund people here and one of the best of the best traders is @Xela, I wouldn't be surprised if she becomes a market wizard as she very talented and helpful on the forum, very slow on PM's LOL. Right Xela? And @Baron gave all of us a gift that I am very thankful to come to nearly each day, as trading is one of the loneliness endeavors. So there are many that share, and even the ones who are still tackling to get consistently profit can offer ideas and test them over as far back as you can afford for tick data, cause the money be well spent or possible without will be lost. I thank you Sir for nice comments and wish you good profitable journey forward.
there is a trend and countertrend. the countertrend, is a trend. both may be moves, in a range. the range, may be a part of larger trend, since market, alternates between trending and ranging. the larger trend may be a move, in a larger range. So which trend is the lie, and, if a trend is a lie, then is the range, the truth? THEN there is the trader who is looking at all this and saying "the market is a in a trend" while, another is looking at the same thing, and saying "market is in a range" and, of course, both are right THEN there is another, who is saying "it is neither of those, it is THE 3 wave of the 4 wave correction, in the 5 waves down" THEN, another who say "I am trader GOD and that the market is simple and market is ,in either, a range or a trend". And another who says " hmmmm. bulls want higher low and bears want lower low and i want my monthly subscription and trader God wants a million usd." THEN i say " you want to trade all this.....better pray to me ,first!"
%% Amen and agree.Most would say a 5 minute move is noise; even though get enough 5 minute candles/trend = 10 year TREND [LOL+ true]