Using Quantitative Approch. Stop looking at chart (aka tea leaf reading) or BS TA. Btw, no day trading, this only make your brooker (or even worst, the bucket shop) rich and you stand no chance after the commissions and slippage.
In recent years, the single most significant thing I've done that improved my results was switching from trading spot forex to trading futures, so that I could trade from constant-volume bars. This increased my income by about 25% on the same turnover, doing the same things. I just wish I'd done it about three years earlier. The guys on the previous page make an excellent point about backtesting, too.
Manually inputting my trades into Excel, and recording the p/l, together with the cost of the trade. Do this and you'll realise what percentage of your acct your broker collects. For heavy day traders, it will be over 100% a year. Brokers love day traders!
Increased holding period... Swing/Position trade > Day Trading Increased profits and improved quality of life...
From readin through various threads here recently, I get the feeling that charts/price action/ technical analysis etc is 'out of fashion' on this forum at the moment compared to when I last frequented these boards a year or so ago. Interesting. Popularity of various 'methods' seems to go through cycles/
Knowing the statistical evidence that leans towards keying investment off of the long term trend of the U.S. equity markets vs. short term ( stocks have risen 60+% and fallen 30+% over long periods ), as they ( the U.S. equity markets ) are representative of stable policy, debt, and currency, highest innovation and entrepreneurship, lender of last resort, persistence of growth trajectory, fiduciary responsibility to shareholders, liquidity, etc. "- Don't quit your day job - Don't use leverage - Open a Roth IRA - Sometimes money is made by sitting in cash - Don't be a hostage to the markets - let the markets, profitability of the U.S. economy work for you "
I beg to differ on the day trading. Using a quant approach, diversified systems, and reasonable (prop) leverage, great returns with risk control. Best part is not waking up to a market crash like the open last September.