That's awesome, that's just the sort of style I'm developing. I
understand if the guys can't take any more on.
I'm somewhere between the hard core 3m 12 screen daytraders and
the pop in for 5m a day toothdoctor, and obviously it's difficult
to cater to everybody. But what is clear is that without a defined
style, which the guys are showing by example but we need to
arrange/develop ourselves, the amount of time doesn't make much
difference. (Realistically though maybe it's only a certain
amount of time in the trenches down at least on 60m charts and
losses from sloppiness that will make the need for that apparent).
I set about doing that today with good success.
Some clarification of these terms 'swing' and 'day'trader seems
important. Please correct me if I'm wrong or it could be more
simply understood, anyone.
In general terms a swing trader is after daily chart patterns
but should be using 60m charts for good entries and exits. A day
trader is probably concentrating on 15m or patterns with 3-5m
entry/exits and maybe holding out for 60m patterns, and someone
like me and this fellow who can spend a few hours day are in
between, using a 60/15 combination for both daily and 60m
entries.
Though I'd heard it before, just clarifying this for myself has
already made the world of difference.
Posted by bosscanuck on 20th of Jul 2008 at 02:26 pm
When I was daytrading, I would use all the setups(charts
patterns and indicators) that we find here at BPT. The defference
was, I would trade off the 5min chart and use the 1min charts to
give me a "heads up", they tend to tell you what's coming in the
longer term chart.
I use margin. In a daytrade I figured my risk was reduced
because I was only exposed for a short period of time, usually not
more than a few hours and
NEVER OVERNIGHT!
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Defining 'swing' and 'day' trading
Site Analysis
Posted by kreem on 18th of Jul 2008 at 04:45 pm
That's awesome, that's just the sort of style I'm developing. I understand if the guys can't take any more on.
I'm somewhere between the hard core 3m 12 screen daytraders and the pop in for 5m a day toothdoctor, and obviously it's difficult to cater to everybody. But what is clear is that without a defined style, which the guys are showing by example but we need to arrange/develop ourselves, the amount of time doesn't make much difference. (Realistically though maybe it's only a certain amount of time in the trenches down at least on 60m charts and losses from sloppiness that will make the need for that apparent). I set about doing that today with good success.
Some clarification of these terms 'swing' and 'day'trader seems important. Please correct me if I'm wrong or it could be more simply understood, anyone.
In general terms a swing trader is after daily chart patterns but should be using 60m charts for good entries and exits. A day trader is probably concentrating on 15m or patterns with 3-5m entry/exits and maybe holding out for 60m patterns, and someone like me and this fellow who can spend a few hours day are in between, using a 60/15 combination for both daily and 60m entries.
Though I'd heard it before, just clarifying this for myself has already made the world of difference.
Good trading
When I was daytrading, I
Posted by bosscanuck on 20th of Jul 2008 at 02:26 pm
When I was daytrading, I would use all the setups(charts patterns and indicators) that we find here at BPT. The defference was, I would trade off the 5min chart and use the 1min charts to give me a "heads up", they tend to tell you what's coming in the longer term chart.
I use margin. In a daytrade I figured my risk was reduced because I was only exposed for a short period of time, usually not more than a few hours and NEVER OVERNIGHT!