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Sounds like you are purely a daytrader.
This reminds me of my daytrading days (9 years,floortrader,broker), yes,
sometimes there are intra daily rhythm of market behaviors,the problem is, the
bigboys once in a while will teach everyone a
lesson, you know, suddenly come out of a blue, its a little like boxing,
suddenly the market just hit you (headon like a train) (others describe it as
market shock) coming from nowhere, thats why I can't make money consistently as
a daytrader. And this behavior by the big boys is pretty random me thinks.
Unless one is an insider or executing broker for them. Can you tell me how long
you have been doing this?And how long do you plan to keep going on, and your
age. (you can respond
privately if you wish)I am not trying to be offensive, just like to see if
anyone in existence ever become successful as a daytrader (I mean become rich
not just earnnig a living, if so get a job!).I have this theory, a lot of these
people finally realize it after a certain period, they can't be doing these
forever, so they start teaching seminars, recruiting younger traders to do the
work.or become retail brokers for the public and if they have enough capital
left, move upstairs and do some research further becoming position traders. "My
own theory of evolution - survival of the fittest trader"
. Actually IMHO, what really to make money from the markets is how to extract
money from the majority of public trader's positions. Its like the smart
money's point of view of the markets. I am
writing this to learn and correct any of my misconceptions. Any responses,
boys?
Robert W Cummings wrote:
> I have noticed over time that when the S&P starts out in a trend down you
> can make what I called give away money and sell any rally take profits and
> wait till it rallies again do this maybe 3 to 4 times. Then after 12 noon
> it tends to change where you let the sells go and buy the dips or vice
> versa. Then a trade seems to occur around 1 to 2:30 either on a continued
> or reverse trend but with much more faster harder moves and you can make
> money very fast here. Of course the opening reversal trade is good but the
> following trade after that is better not to trick you. Another thing I see
> is if a market has changed trends it will go one way for a while then
> reverse with quick jumps of very strong force lasting a short time but
> later will get in that same direction for a major move. I believe that the
> market movers are showing there hand trying to turn a market with major
> buying power and the sharp moves are early attempts. Just stuff I noticed
> along with my indicators and you can't program this stuff you could but it
> would only change. This is the reason I have a hard time with systems and
> taking every trade theory. I can train my emotions of fear and greed and
> have done so and feel free to let fast markets go by are choppy ones as
> well. If Greenspan is speaking I trade from the short side are I don't
> trade at all. Plus if I don't feel well mentally I don't trade. Some days I
> just feel negative like if I went out side a bird would crap on me. If I do
> trade feeling this way I usually fold and run fast so even a good trade I
> would not take advantage of it like I should. Just stuff I notice and feel
> without hard evidence to back it up but I trade it and make money doing it.
> Got anything you see and care to share I'm very interested in what you see
> and feel from your eyes and gut.
>
> Robert
>
> Robert
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