ckait

first off dec 23 is a crappy day to sample due to the holiday.

then there is the old grinder move up where you get prices trickeleing up all day on light volume this is is mostly just fueled by new shorts (weak ones) and there stops are the market orders that make the new highs. repeat over and over and you have a trend day.

Save your money and your ego. If your good at poker, play poker, dont ever open an account and save your self the pain (not to mention ruining your eyes at your age). Nobody ever realizes how much screen time it really takes. Now that beig said, it is pretty cool to be a Day Trader, and most that I know do something else too. Dont put all your eggs in one basket. Good luck.

I love your post. Having been doing this long enough to have a masters degree in something else, I know how you feel. I too have " freinds" who KILL the market everyday, while I humbley make my measley few hundread dollars a week after commissions and fees and all the other crap you have to do to stay in the buisness. And think to my self "why thee hell cant i do what he does and make a 6 figure income?". We all have to deal with the same issues, " this one looks good but .............. screw it its not ready" or the famous " well ive hit 3 in a row im done for the day". Or the wose one " crap thats 3 loosers in a row and I just blew a weeks profeit". In the end forums are a place to vent or to arrange your thoughts. When I was newer I used to start threads about trade set ups and methods, but thats all crap too. It makes you think about what you are trying to say in a clear and concise manner, that cant be bad, but will it help your tading? Probably not. In the end the holy grail is between your own ears, not someone elses. No two brains see the same thing the same way. But if one can control risk and there own self (hardest part for most) there must be a shining light at then end of the tunnell. Or we are all delusional.

18 months is nothing most people take years to figure out a system that works for them, all the systems, all the gurus, all the books in the world cant teach you trade. screen time ,dedication and a system that is yours and is flexible enough to adapt quickly is the a must. If you decide not to quit, and try again start with 1 trade. Master that one trade then another and another until you have 3 that work with good results thats all you need.Ill even give you an easy trade ive been using for months now with great results. Heres the set up dont know if your an MP guy but here it is when the market is coming up to a recent poc that your going to use for support or resistance, most people are going to trade right in front of it hoping that it holds well most of the time lately they have not been holding in fact i wont place orders in front of them any more peroid.the play is 2 pts behind the is where i place the trade knowing that the stops of all the mp traders will be there and ill take the bounce there usually back to the poc sometmes further. ill usually grab a couple points then go to BE on the rest just incase it really starts moving. good luck.

I was buying all day and loving it.

Not going to pay for it the right person will come along who will want to do it when the time is right.

Whatever,if traders only wanted to make money they would have one working thing they did,load up and be done for the week in one trade . But most people who get roped into doing this have Ego and being right issues that dont get realized before they go broke.

Whatever,if traders only wanted to make money they would have one working thing they did,load up and be done for the week in one trade . But most people who get roped into doing this have Ego and being right issues that dont get realized before they go broke.

I"ve seen it worse. Guess it depends what you trade and you're pain tolerance.

I am completely new to automated trading. Got a few patterns I trade purely on price action ( probably pretty easy to code ) the problem is I am a descretionary trader using mostly MP and order flow to filter trades. I dont use any indicators at all. Ive got a few patterns i use to get in intraday but i use order flow to filter and would like to automate things. Before that can be done it must be coded to see if the % win rate would be good enough to make it worth while. I dont have a problem sharing my trade patterns if there are serious takers willing to put the time in to code and back test them. I do trade them live time with real $, although they do not make up the majority of my trading, I do feel, if set up right, it could be enough to be the only patterns or program one would need to make a substancial living trading.

Imorgan are you still monitering your thread? I think you havent posted since the initial one . Are you rich yet ? just kidding. Most people go through a predictable path to trading enlightenment. Doesnt matter what you trade the path is important.What stage in the progression you are in should concern you the most. Every single trader I personaly know who makes a decent living (as a trader) has gon through at least a 5 year learning curve. The one common denomenator between the really good ones is to scrap the indicators. If your still relying on that kind of stuff dont quit your day job i hear thery are hard to find. The market place is a very dynamic place. It eats guys who do well in the stock market who want to quit their day day job for breakfast (usually before 9:55 est) every day. Any way I guess my point is dont jump in before you know exactly what your in for and it takes a few years to get the grips on what is really going on.

Alot of times it does but more often than not it doesn't. the trades Im interested are daily range trades not 2 or 3 ticks and usually there is one shot, if you miss it you need to be quick and creative if you want to get in.

How many times do you get into the right position on the first try? What is it that you trad e? I dont trade patterns per say. They are patterns I recognize that have to do with supply demand and the agressiveness of the participants. Its not always exctly clear, the market doesnt work that way, you get a set of events that make people want to buy agressive sell agressive, or or you get professionals playing two tick charlie taking money from newbs. How many times do you find yourself in the right position only to be shaken out by two ticks? Bet it happens all the time. Do you buy the first sign of agressive buyers after a 10 handle sell off? Or do you wait for the re test of the same preice to see if they come back in? Do you wait for anothe push lower after than the initial sign of eager participiants? I will enter on all of these senarios. The way you handle the risk of you positions will determine if you are sucessfull. Not the enrty price. Just some insight for those who still view things in one dimension. Happy trading!

My other buisness is construction and Ill tell you the people who have cash to buy rental properties are the ones doing the buisness in my area. Real people buying homes to live in havent yet stepped in do to the lack of industry left in this country. There are no jobs, good ones any way, and the way this new administration is monkeying with ability for the market to shake out all the weak companies and have a real recovery makes it near impossible. The only way for for things to get better is for us to start manufacturing the products that we use, otherwise we are doomed. Well opinions are like _ss Holes, everybody has one and thats mine. Ill be a buyer in about another 30% to the down side.

Go check out " Balance Trader" Frank has videos that can teach you something about market structure and an approach for trading market profile which is quite easily learned. Marketrs in profile and Mind over Markets are a good place to start as well as the CBOT guide to market profile if you dont yet know what the pfofile is.

Thats cool, Ive tried several times to come up with a machanical system and have a few set ups to test but i cant find any one to program them. I have no skills in that area. But i do have defined trade criteria If someone is up to the task to take on programming and backtesting the set ups. If nothing else I know my set ups would give a fresh out look on a few things and possible something that could be automated. Thinking of getting my wife to do it, she used to be an electrical engineer and could probably muddle her way through it but Id rather have a traders prospective.

Markets can act erratically, but they also do the same thing alot of the time. I just know there are areas whrer i expect to get a reaction. If I see the reaction im looking for i'll take the trade. The profile provides the structure and the devopement druing the day in its relationship with the previous day or days gives me my likely trade location. I know some people break down the day into its 30 min periods I definately look at them but like the daily profiles better.

The definition of trend is making higher highs and higher lows. The problem most people have is they dont understand what time frame they are trading. And it varys from time frame to time frame. A 1 min trend may only last 5 minutes or it could last 20. has nothing to do with account values.

yes I absolutley trade this method i got the morning trade than called it quits. today i shorted the balance area at 88.5 because it was the first test of the balance from the day before. i the morning it gave a nice reaction and i aws done by 7:00 pst today as well. These are MP principles I work off and jus follow along with the auction. dont try to fight it. And i had orders in to buy the 76's in the am but it didnt get that far.

See this morning is a perfect example. normaly you wouldnt buy a market that is gaped up 10 points but leaving the balance area I was confident in the longside and bought . Good times.

Its not impossible to identify when a trend starts. there are a couple cycles one should familiarize themselves with that is the balance imbalance cycle. balance is the range market like the last four days, imbalance will be the vertical move out of balance. which direction nobody knows (probably up just to piss all the tech guys off who are calling a top here), but either way I will trade in the direction of the move away from balance. It is usually a substancial move after balancing for a long time. That is the simplistic nature of the market and all one needs to be sucsessful to trade the markets. HA HA it takes a litttle more than that but thats the nuts and bolts of it.

Try this, if your missing by a few ticks and the trade hasnt really taken off yet and the set up is good to begin with jump in where it is and add to your position where you wanted to be, If it does indeed come back on you. Then scale some out at the original entry price.

In order for price to move to a new higher or lower price a transaction has to occur higher or lowe than the bid ask sperad. I want to sell at 4 even, the curraet offer i dont get filled becuse someone else decides to sell at 3.50 lowerig the offer no transaction at my level but at another at a higher or lower one and the price moves. It is the agressiveness of those willing to lift or lower their prices which moves the market not that there are more buyers or sellers. I think .

I personally love volume and use it to guage the intent of those willing to initiate trade. If the voluime of trades consistantly lifting the offer through support areas or vice versa gives one a good idea if to stay in a trade or possibly exit or move a stop or change the management of the trade. I use market delta to monitor this along with the dom Ive been using them for a long time and get a good feel for the activity.