Day Trading

[murty 10]

are there any winners in long term in the day trading market

 

if so what is the strategy followed by you

[diablo272 10]

Lots of info here: http://www.traderslaboratory.com/forums/

[bathrobe 10]

are there any winners in long term in the day trading market

 

if so what is the strategy followed by you

 

 

I know a long term winner very well and his strategy is the ability to change his strategy based on what the market is giving him at that time. This probably is not the answer you wanted but the market does not trade today like it did 5 years ago or last November.

[thalestrader 14]

the market does not trade today like it did 5 years ago or last November.

 

Interesting statement, and one I come across frequently. How do you feel it has changed?

 

Thank you,

 

Thales

[bathrobe 10]

Interesting statement, and one I come across frequently. How do you feel it has changed?

 

Thank you,

 

Thales

 

Last October/November I feel the market moved from being volatile to what I would describe as crazy-hyper-volatile. My bread and butter setup worked for years and all of a sudden no more, also the setups no longer really occur. I remember last October the DOW was down nearly 800 points one day and up 1000+ (Oct 13th) the next.

 

As far as 5 years ago, I was just starting to trade, and was trading equity options rather than futures and my analysis was really not there so I can't speak to then, I just believe the market is an ever evolving beast.

 

I can't remember where, but I recently read that the advent of CNBC, Bloomberg, and so on has changed the way markets trade as well. As a result of instant quotes for all even the smallest investors panic and pull out their money on a whim.

 

I do not see as many pullbacks on charts above 15min. either.

 

[bathrobe 10]

last October the DOW was down nearly 800 points one day

 

Thinking about it more the two days were not back to back.

 

More importantly when the dow dropped 777 points CNBC dedicated an entire evening of programming to it.

 

Of course this is a huge event, but who is benefiting from this type of programming on a financial news network, not the pros, institutions, hedge funds, or pension funds.

 

All that evening did was freak out every small retail trader even more than they already were, so in turn maybe many more removed what they still had left in the market, possibly leading to more volatility.

 

Look at the High Low on the days on the following chart. I think this helped lead to where we are now.

 

Chris

[thalestrader 14]

My bread and butter setup worked for years and all of a sudden no more, also the setups no longer really occur.

 

That is interesting. Would you be able to share with us what that set up was?

[bathrobe 10]

That is interesting. Would you be able to share with us what that set up was?

 

Sure,

 

Using MP levels such as VAH, VAL, POC, and Virgin MP levels I would fade the levels if I thought it was OB/OS or whether it was a virgin mp level or not. I also used VSA when it it worked in conjunction w/ these levels to strengthen the signal. Now I find the market rarely respects these levels (in fairness I have not looked in a while).

 

I have now moved on to trying to get better at identifying VSA setups alone along with WRB's. NihabaAshi has done quite a bit of work on the latter.

 

Chris