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I actually just experimented the H2 time frame today because the scale is just right to include 1 month length of price action in one single chart.
It is exactly the scale that i am looking for.
Haven't updated the thread for a long time as I was actively interview for jobs.
I am determined to go back to corporate jobs because, on the one hand, that I just can't trade professionally with having two kids -- I am missing trades like crazy, can't sleep well, went out to pick up the kids from the school and back to see my trades turn into mother of all fucks. I think day trading is really for young people with no family burdens. Not for some old family guys like me.
Secondly, I think it is a much better use of my knowledge to automate the trading strategy to a point that it only takes 4 hours a week less. Sitting in front of the computer to wait for trades is such a waste of time. And I constantly trade with fear and emotions which is self limiting in a way. I have a plan to achieve the level of automation in the next 4 - 8 years. That is my goal and i would treat automated trading as a hobby.
From now on, I would only update the charts on the swing trading point of view. Or if I got big break through in my algorithm.
Thanks a lot for all of you have posted in this thread. Appreciated!
Russell was the leader to the downside during the correction phase in the past two weeks.
Since then it has found support at one of the key levels and is potentially making a bull flag formation.
Today's price action is going to be crucial and the buyers are determined to take out the prior day's high where the bears showed up. If they succeed in doing so this week, then the upside is going to be opened up.
Too bad. I am in the same situation as you. For me the solution is to only trade when I have no other duties. This means that the amount of time for trading is reduced drastically. But you don't have to trade 80 hours a week to be profitable. You can be profitable even if you traded 2 or 3 days a week, 3-4 hours a day.
Furthermore, if you must leave a trade on while you cannot sit behind your computer, it means you're in a longer timeframe trade and a trailing stop is the way to go.
Yes sitting in front of computer to wait is a waste of time. I just do other stuff these times. Furthermore, it would help if you have a part-time business or job.
Thank you so much for your message.
You are right that you don't have to stare at the screen in order to make money.
Actually the best trades that I had are the ones that I just don't micro manage.
I think i will move to a higher time frame to do my manual trading and the short term trading should be automated to a high degree.
