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Getting overwhelmed......

  #7 (permalink)

North Carolina
Trading Experience: Beginner
Platform: NinjaTrader, Tradestation
Favorite Futures: es
Posts: 644 since Nov 2011

It is very hard to both trade the markets quantitatively/systematically and intraday trade them unless you have resources of a dedicated research partner or entire team. Because as a day trader, you will be spending your energy trying to extract the rhythms of the market while as a quantitative/systems trader you are looking for the elusive persistent patterns.

I have found that as a discretionary trader, creating notes and stuff on the market is valuable for creating feedback loops. However, to actually develop that concurrently with your day trading is going to be very difficult. This is somewhat an example of an impedance mismatch.

This is a difficult one. But, it sounds like you need to focus your energies better. If you want to use indicators or whatever then those would probably best be used as distinct and separate systems. You also mention "being a perfectionist". This might represent that you internalize your wins and losses. This is valuable and maybe even required to become a great discretionary trader. It is something I've seen lacking in most system traders. However, both an internalizing and externalizing perspective can be valuable. For example, if you develop a system, consider it an experiment or prototype, and it loses money then it doesn't have to kill your confidence because you can externalize that as a "system b failed" versus you failed as a trader.

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