I do like it. That said, manipulation is part of the game. Without it, there wouldn't be a market. Everyone would all be on the same side. As such, they will try to shake you out as much as possible because they know you will never get out of your trade of your own will.
hey @SimpleMeLike thanks for the response, yes time is a constraint...where i live one has to stay up very late for the opening to meet the open of the futures session. Oh you mentioned look beyond ES to someone on here, these are ways to look beyond...maybe you meant something else...or not .. if you look at only price then fair enough...so whats your fav time frame or tick frame or kase bar etc ? thanks @SimpleMeLike ... keep making the $ best John
I think you’re scaring me with all these good rules, solid money management and psychology. I watch the price, options volume, social media and close my eyes and hit buy or bail. Not a charts guy, nobody taught me because it interferes with my perception of being a video game. Did the old pit traders have charts in their heads in the 60s-80s while standing-screaming or price recognition? Around 87-90, I gambled off a pay phone. Standing by a phone for a hour or two, police asked “Are you a dealer, desperate boyfriend or pimp?”
Speaking like a true trader (gambler ). But like gambling, those pit traders are the house, we, in those days, buy/sell through our brokers, are the gambling public. My broker introduced me to charts and indicators to keep me interested and to keep my hopes up so I would keep trading.
You know I would give anything to feel the euphoric gamblers rush of making a good trade like those days! It’s been decades since I felt anything, dead inside and robotic.
One reason why I try day trading after a decade trading options. I am just an amateur retail, never set foot there. I emulated one of the market wizard's approach and imagined his experience in the pit: I try to day trade with tick by tick and DOM table (almost like reading tapes). They are silent but sometimes could "feel" the rush and imagine the noise/excitement of the pit when things were moving rapidly. It actually worked.
That’s what I use, DOM and TS, nothing more. Edited: You get the real rhythm of the stocks by staring at that. MMM was so weak, saw the $95 puts screaming at $.40-.$.50, you got to join the crowd.