If you think your methods are better then by all means educate us. I do swing trade and don't see any major fundamental changes in oil in the last week or two so what is there to post? What has changed?
@ewilliams, I can see you are only here to jerk peoples chain. As a so-called day trader, I trade into/and out of areas based on HTF charts, and volume including S/R on entry levels. I do not like to take over night risk, I like to be flat at end of the day. It fits who I am, and what I like, if you like something else and can make a living at it then good for you. Your 2 cent rant serves no one any purpose since you show no point in your statements or a different way to think but your inexperience shows in your statements.
@Bigmike, this thread should be moved to an elite, just for this reason.
If people ask a question thats great, but to make an open statement and be a hater, that just kills me. Glad we have an ignore button. Sorry off my soap box. I love what has been going on here, you all rock.
To be absolutely honest the only difference between a day trade and a swing trade is the duration of the trade. So you can easy throw shit in the air and be swing trading. There is no real fundamental difference. The market is no more stable or less random at one time frame then another.
The key to any profitable trading is to create a process that gives you the best info about the market and allows you to create an actionable trade idea from. Whether that is on a day, swing or position basis is irrelevant.
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I'm guessing he doesn't understand statistics, trying to put odds in your favor. Even if you can put the "numbers" in your favor by 3-5-8%, that's an edge (the latter would be awesome.)
Something that I believe. You go to Las Vegas, the local boat - whatever. You slap fifty clams on red five and they hit the go button - you are done, that's it, finished, do or die. I go and slap one contract on red five and I can add, move, or take it off - it's not done until the fat lady sings.
PS and that quote just get's under my fu******* skin. 98% of the people who "invest" in the market want it to go one way and one way only. I don't give a damn, just go.
Last edited by WilleeMac; March 4th, 2015 at 06:11 AM.
Reason: sp, clarify
I have been long since yesterday after API report came from 50.44. Took some off around 50.71, held during Globex session took some more off around 50.82 and holding now small position.
Long, long hold time for 40 ticks. I hope i am mentally alert and prepared when DOE report comes out today at 10.30 am. I have been waiting with longs since yesterday Globex session with longs but nothing beyond 40 ticks.
My mistake was that i kept waiting for CL to test 52 etc and kept adding 50.30, 50.54 etc To figure out when the move only has 40 ticks and when 100+ ticks is the hardest thing for me right now. Sooner or later i will figure out a workable startegy to add to a psoition.
My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Last edited by mfbreakout; March 4th, 2015 at 07:49 AM.
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I think ewilliams brought up a valid question, even though his style was a little bit offending. And I didn't see anybody answering it, so let me try it. I see 2 reasons why a guy with a big account would choose day trading over swingtrading:
1. A generally flat market. If you took a position (long or short) 3 weeks ago when price was around 51 and waited for a bigger move, well, 3 weeks passed by and the price is still there. So you made zero profits. But in that time period playing the daily fluctuations and capturing a little profit here and there, you could have made good money. So in a mostly flat market a daytrader can make money while a swingtrader won't.
2. Most people over trade. It is very hard to sit on your hands and stay in a position waiting for an exit signal. It is much easier to second guess yourself and click and even reverse positions. It is just the nature of humans. So most people prefer to be more active, even though under certain market conditions staying in position is more profitable...