i m not a typical daytrader, i only daytrade when the profit is too good in a short time of period, like JOBS today. i run a daytrading firm in beijing and i know how hard and frustrated to trade with 1 min chart. daytrade is a tough business, much tougher than swing trading. i would say to normal traders, stay away from daytrading. tougher biz, smaller profit, why bother?
7 comments:
wow, such a dynamic move today. Congratulations!
By the way, trying to understand more about your approach.
Is it good for hours charts?
I know you mainly trade on daily chart....
thanks.
in thoery, it should work, but i never traded on hourly chart. i use 5 min chart to pinpoint my entry.
so you search for possible break out in daily chart, and then sharp your entry point by using 5 minutes chart?
then how to exit? using 5 minutes chart as well?
sorry for asking too many questions. I am still digesting your method. :-)
It is really good so far. That RDWR is really unbelievable!
Congratulations!
i use daily chart, sometimes weekly chart to exit, by looking for the resistance level. if daytrading, i will use 5 min chart.
you do daytrading as well? I thought you are pretty much of swing trade style.........
I used to use 1 min chart to try daytrading, but the result is not so beautiful.....so you use 5 minutes charts, how do your daytrading so far?
thanks.
i m not a typical daytrader, i only daytrade when the profit is too good in a short time of period, like JOBS today. i run a daytrading firm in beijing and i know how hard and frustrated to trade with 1 min chart. daytrade is a tough business, much tougher than swing trading. i would say to normal traders, stay away from daytrading. tougher biz, smaller profit, why bother?
Very good comment. yes, I gave up 1min chart trading, now try to test if 5, 10, 15 minutes work better...lol
But still you are right, swing trade is more stable and less noise. I am trying option strategy as well, not so good, but it is good in a trendy day.
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