Re: Nothing works consistently Quote:
Originally Posted by mehow I've been trading for approximately six months now. What am having a hard time grasping is what worked yesterday doesn't work the following day.
For instance on one day I was scalping NASDAQ stock anddoing well well, and then using the same method the next day or a week later and I have devastating results. When trying to trade breakouts and momentum trades, majority of the breakout turn out to be false. Sometimes prices bounce off the EMA, sometimes they go straight through.
My point is nothing seems to work on a consistent basis. Anyone have any thoughts on this? |
Well if you're just scalping on short timeframes I would expect you to have trouble consistently replicating your results as it's more of a lottery, and transaction charges etc play more of a factor.
If you want to improve your chances (assuming you aren't doing this, or something like it already) try only scalping from one side (i.e. where the trend on a longer timeframe basis is.
Exact timings etc you can play around with yourself, but if you realise that some days your scalps risk being firmly against the grain then you may find you have more consistent results.
Suggest maybe you look at daily, 4h and 1h charts for some more pointers. If you just sit there and try and snipe off a 5 min chart you're just another hopeless mug punter throwing darts at a board unless you have some sort of edge.
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