trade more markets, I used to trade one, feeling much better now since I started trading four. At the moment that is GBP/USD, Bunds, crude oil and Russel2000. Each give me few signals, but in total I got a busy day.
I've automated when I see a potential set-up, to either signal an alert or place the order. Then I sit back and wait. Reminds me of fishing.
Find more setups. There so many stocks thats moving, Mr Market doesn't limit you to stick with one setup/stock at all.
used to do that but got sick of it. i watch beavis&butthead now, downloaded the entire series. when the setup comes, i say to myself "this is gonna be cool", and i go in. huh, huh.
Internet Music (eventually) working out in home Yea I only have 1 strategy at the moment..but others lined up once I have this one down pat a bit more... (sure beats sitting at a desk all day...err wait I do that now...I meant elsewhere as opposed to at home )
I'm not a pro so I can't speak for them. Many people never get to this fork in the road. Most of the answers to you relate to more edge trading stuff. There were a couple that suggested to make use of your money in a different way than scalping. The other fork is to learn how markets work. It is not a likely path for most. The advantage of knowing how markets work, lies in being able to trade the markets. The simplest way to understand the potential of the markets is to draw zig zag lines on a chart of price. Add up the pieces. Divide the total by what you make with your perfect set up. That answer is the reason to take the fork in the road. No one does it to speak of as you can see by the comments. Why doesn't anyone do it? Not hard to say. People are not drawn to the markets by what can be made; they are drawn to the markets by heresay. You were. You sought an edge. And you scalp to learn failure in between. Learning the markets is a process that can begin simply. You do not know anyone who knows the markets, it turns out. Someone who said he spent years (in a comment elsewhere) suggests you take notes. What is the alternative to notes? Write down a plan for learning how the markets work. How many people can do writing down a plan for learning anything? Not too many. It is not that it is too hard to do. It is just that they never have done anything like making a plan. I have heard that people who get married, often, do not have a plan for their marriage. It is two people who would have to work together to make a plan. That could be tough. Can you imagine a wife asking her trading husband what his plan is for learning the market where he is edge trading? Not likely. Every day the market zigs and zags and the sum of the zigs and zags is what is available. Someone is making that money. Not anyone who posted in this thread so far. The only people who can make that money are people who know how the markts work. The group has a size. It is about 10% total of those trading. 90% provide the money. You take alittle from the perfect set up. You give back by scalping. Go to the P and L thread and if you find a complete post, see what the fraction is that this person takes. Is anyone posting there that is getting the sum of the zig zags? Hard to tell since most of the posts are incomplete. There is a fork in the road for all traders. The main road at the fork goes where most posters in this thread are. The other fork is learning the market which leads to being able to trade the zigs and zags. Look up all the plans for learnng edges in ET (there are about 80 different edges named). You can see how each edge was learned by the commentary. Look up the plans for learning the market in ET. These two classes are the road map for each fork in the road. 90% of those who take either fork, ultimately abandon their vehicle along the road. Some before they get to the fork. My guess is most before they get to the fork. There are parking lots for 10% of the traffic, i. .e., those who continue to be successful. There are also craters along the way for those who blow up. Not making a plan to learn the market is a new years resolution that most all people will make. How can a person learn about how the market works? When is the final exam given?