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Breakthrough! I figured out why I can't daytrade worth a damn...
The seat-of-the-pants method the problem. I like to be sure, so I wait till
the market absolutely looks like it's going up. I become so convinced that
I just can't stand to miss out, so I go long. That's the exact top! Same
with shorting the bottom.
The only thing that pays for my daytrading efforts (and the bills) is my
longer-term trades. These are based on objective paintbar signals and
trading rules I've worked out over the years. Too bad I've never found
similar stuff that works reliably on intra-day charts. Has anyone else?
I guess I could make it work to sit there and watch the wiggles... If I did
the exact opposite of what I "know" at the time! But meanwhile I'm sticking
to the longer-term trades.
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