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Should I ditch day trading efforts for trend following?
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Created: by rocktrader Attachments:0

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Should I ditch day trading efforts for trend following?

  #11 (permalink)
Elite Member
SF Bay Area + CA/US
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paps's Avatar
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guys what i found and is not an advice in any manner. In my longer term trading...if I get context correct...I may not have a loser or am able to cut losers without grief. Whereas in Index Futures you need to be Spot on or cut very fast on a loser ofcourse subjective on the capital being played with and size matters.

So longer term for me is hassle tension. Lol...whereas Indexes can be hugely rewarding....but I cannot have a Rigid bias. Well just my 2cs.

Good Luck

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  #12 (permalink)
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The same patterns occur on all time frames. Personality and time availability dictate which time frame you choose. So, shorter term is more 'visceral', if you like feeling the pulse of something, are more instinctual and are less theoretical then a short term strategy can be very satisfying. The market is a living thing, can you get ' under the skin' of it? And of course each market has a different personality. Look at it coldly and objectively or try and feel its spirit. Sounds a bit nebulous, I know, but if you put the hours in you will understand. Oh, and don't forget the news...the other side of the coin.

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  #13 (permalink)
Elite Member
Orlando, Florida USA
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Assumption Theory

Let's assume you use a MACD at the standard 12/26/9 settings.

You say to yourself when the signal line crosses the zero line I will short the market.

So you are making an ASSUMPTION that when the signal line crosses the zero line the market will go lower in
relation to this theory and vice a verse.

So you are will to take that risk each time. Sometimes you will win and sometimes you
will loose.

Convergent: You believe the MACD cross to be dependable
Divergent: You understand the risk that the MACD might not be dependable

BTW: Edison used Divergent Theory ..... it took him X amount of attempts to finally get that cotton carbide
thread to stay lit. BUT .... he finally did.

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  #14 (permalink)
Trading Apprentice
Riverside, CA
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I personally prefer daytrading as opposed to holding. If done right, the compounding effect can be powerful (of course it goes both ways). I like locking in small profits while placing tight stop losses. The whole point of my strategy is to use price action to predict the right direction/continuation at that specific moment of the mini-trend. Good luck whatever you choose. Definitely don't like hold anything overnight though (my psychology won't let me sleep).

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  #15 (permalink)
Trading Apprentice
Calgary, Canada
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Posts: 11 since Dec 2014
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rocktrader View Post
I find myself profitable when my holding period is bigger than few days, but day trading seems to be just not working for me.

If you are consistently profitable with longer holding periods, then stick to that. You are already way ahead of the pack. Don't assume that putting more effort into day trading will give you more success.

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  #16 (permalink)
Nashville, TN
Trading Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IB
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Posts: 468 since Feb 2011
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If you want to day trade then trade around a longer term directional position. Helps keep you on the right side of the trade.

Ex. You are less likely to see a topping formation and short on a lower time frame chart when you know that you are in the middle of a strong move up on the daily. Instead you would look for likely places to add to the long position you have likely already established on the daily, you can then hold or trade out of the extra position on either time frame.

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