I don't have Photoshop on this computer. If I did, I would highlight the area on the 9-range that is what is shown in the 6-range. There is this window of opportunity, and when filtered with higher windows of opportunity, the higher the better, and when more come together than usual...
There is your edge.
Last edited by GaryD; September 4th, 2012 at 11:16 AM.
Reason: a little nicer, but I am still frustrated with myself
And the reason I scalp is related to the reason I don't feel comfortable trading "size". Yet.
To me, and this will sound contradictory, but it isn't. Calculating support and resistance on higher timeframes is not that difficult.
Knowing when and where to get in and get out is.
And so my plan, as before, is to merge two traders into one.
I may pull off succesful trades, I might run for 30 days, multiple weeks, multiple months.... But that never seems to mean I don't always wonder if I can do it again. And while that may just be the way things are, it is not comfortable.
We think of "comfort" as something else. Maybe that is not something to admit. But at least, I do. Is it freedom of time and place and schedule? Is it freedom of money? I see both questions the same. Not that I don't see the difference. And just like the red pill vs. blue pill question by @websouth, unless I choose where I want to go, it doesn't matter which path I take.
So today, I scalp. It is more fun. It makes me feel more comfortable. I feel like there is more to understand about the moment.
And I still think it is wrong. But until I decide on a different path...
Last edited by GaryD; September 4th, 2012 at 03:01 PM.
I don't see the reason for all the inner conflict. Some days the market conditions lend themselves to scalping..Other days, there are conditions that warrant holding trades for bigger moves. You obviously have the ability to scalpand catch runners. Why denigrate yourself for scalping when the only thing that matters is the end results . The real secret to this is determining what the prevailing market conditions are for a given day and utilizing the appropriate strategy for those conditions. Some days should be scalped..other days the trades can be held longer.
Failure is not an option
The following 2 users say Thank You to lancelottrader for this post:
Ignore volatility? I am praying for some!!! -) The shakeout of pro traders in2012!!!
GARY AND ALL,
Many of us need a move of 20,sometimes 40 pips before we can confirm, be it a by a moving average or 2 higher lows that a trend actually is in place. The frustration of thE er/usd this whole month is we dont even get a 40 pip straight move all day and night. And then "if" we get it, but it seems this august to have come at some early oddball hour like 11"30pm est and there is nothing but sideways action till next day. Look at tonight,perfect example. Its 6:30am...end of the 3 day weekend...where was the rush of money flowing into Forex between 2-5am we always get? On a long weekend yet! I sware I will never complain if we go back to the times of rediculous viotility, where it6 takes 3 stop outs to catch your train, i wont complain. But something is changing in the markets, all of em. Cant you guys smell it!??? Looks to me like we are going to see a lot of "pro" traders going broke, being shaken out, not by bad plays but by waiting for moves that no longer happen with enough regularity to make trading profitable. We will see a shakeout of people going back to work again....(creating more strain on our supposed healthy economy) and then maybe in a year or 2, markets will become wild ,erratic and a new breed will come forth. WHY DO ALL OF YOU NOTICE SO MANY MORE VENDORS AND PEOPLE TEACHING "because they love teaching" more now that ever before? Cause the prose are making so little it aint even worth it. Just my 2 cents.
The following user says Thank You to Daytrader50 for this post:
Certainly there has been a lot of this over the last years (educators cropping up who can't cut it). And while "something is changing" is always the case, beware of placing too much emphasis on a 4-week period of inactivity. A month in the market is a very short period of time.
The following 2 users say Thank You to josh for this post:
Agree with josh.
Daytrader you are reading too much into this last one month activity... historically also last week of aug & dec & 1st week of Jan is low volatility & vol time.
I am talking about last 20+yrs of data ...there were some exceptions like 2008 2011 or so.
CL GC SI & bond market is pretty much active. Currencies & indexes are somewhat sideways.
The following user says Thank You to Bharatiya for this post: