You are not understanding what I'm trying to say. I am not shorting the market anticipating a down move which may happen tomorrow or next month, or next quarter. Or may not happen any time soon. All I'm saying is, be available if/when it happens. Also we are not concerned about whether the market has been churning up for the last few months or not, because there has always been enough liquidity for the day trader to profit, except for the last couple of weeks. As long as there is liquidity it doesn't matter which direction the market goes. Who cares? A decent day trader will make money either way.
You are waiting for an event that happens 1 out of 10 days 10% What do you do the other 9 days? play pingpong ? read up on risk premium.
They killed the golden goose, or at least stunned it Traders need to follow the volatility. Right now the place to be is currencies. I have been a decent macro trader over the years (over $8.7M in gains since 99) but have never been a very good day trader until I started day trading the Euro Nov last year (prompted by the fact that I was trading ES NQ and EUR and usually lost money on the former pair and consistently made money on the Euro). I have not had a single losing week since then and have only had 4 losing days exclusively daytrading the Euro. I fully recognize that I am no superlative day trader it is simply that the moves are so big and trending that even someone as relatively untalented as I am can make money consistently.
there is money to be made in the morning and late afternoon but its a small window. remember index trading is a size game not a points game.
First of all, I never called for unlimited upside. This is a moronic interpretation. Next case. Who says you need volume to move price? Price moves on the margins. As long as those trading agree to a certain price, and those on the sidelines dont come in to trade against the trend , price can go anywhere on low volume. Now you can burn those ridiculous texts you have been reading written by out of work cab drivers posing as traders.