Mastering Daytrading

[knucklehead]

Daytrading is a wonderful subject, great to learn how to trade quickly!

After daytrading for FOUR years you start to SEE patterns emerging and keeping a diary helps you to analyse the days you get KILLED and the days YOU MAKE A KILLING.

Now the days I got KILLED all had the same thing in common - FALSE SIGNALS - I lost money!

the days I MADE MONEY it was easy as taking candy from a BIG BABY - THE STOCK MARKET!!!

Attached is a chart of what the days chart looked like when I got KILLED in the market.

CHOPPY PRICE ACTION DAYS

By AVOIDING choppy price action days ALTOGETHER, I went from BREAKEVEN TO PROFITABLE TRADING!!!

IT'S AS SIMPLE AS THAT! :cheesy:

 

[FetteredChinos]

thanks Mr Hindsight.

now, could you perhaps give hints on how to spot choppy action in real-time?

 

[knucklehead]

You must be joking? Use your Brains !!!!

It's EASY-PEASY to spot choppy days in REALTIME!!!

I DO IT EVERY TRADING DAY.

LOOK AT THE FIRST HOURS TRADING CHART --- EVERYDAY!!! Save it to your hard drive and at the end of the trading day, save the full days chart. DO IT EVERYDAY!!!

Learn by using your GOD GIVEN NEURAL NET CALLED YOUR BRAIN!!!!

It's great at pattern recognition !!!!

PLUS CHECK OUT MY NEXT POST.......

WHAT A MAKING A KILLING DAY LOOKS LIKE !!!

 

[knucklehead]

Making a KILLING DAYTRADING

Are Yes, i remember it well .... 29 March 2004.... what a day !!!

I MADE A KILLING THAT DAY !!!

AT LEAST 35 POINTS PROFIT

Attached is the chart for that day, notice the SMOOTH PRICE ACTION from the word GO!!!

NOW, COMPARE this SMOOTH chart with the CHOPPY/ROUGH chart!!!

Memorise them both... one will save you a fortune, the other MAKE you a fortune !!!

LOOK AT THE FIRST HOURS ACTION .... DO IT EVERYDAY !!!! :cheesy:

 

[triax]

Uh oh.

 

[roguetrader]

Hmn, lot of shouting going on in this thread.

 

[FetteredChinos]

35 points is a killing?

anyway, you still havent defined what smooth price action is.

is it few swings in the first hour? small narrow ranges?

im trying to be constructive here. that's all..


surely the secret to successful daytrading is BAGGING A LOT OF POINTS EVERYDAY ?

point made?

FC

 

[Bigbusiness]

The price axis on the first chart is 2.5pts a unit. On the second chart it is 5pts a unit. So the first chart looks more choppy. The only way to compare the first hour would be to use the same scale. Perhaps you can post those charts?

 

[ERA]

Hey Knucklehead, your Avatar! .... is that a Drill Sergeant or Hitler ?...........either way it suits you.

Just tone down on the shouting.....we're not deaf.

 

[hagadol]

Is he trying to sell something ? Sounds like he might be leading up to it !

 

[knucklehead]

I've just given you all the secret to daytrading ANY market and you've all missed the point !

 

[knucklehead]

That's why I'm a daytrader now entering my FIFTH YEAR and looking forward to mondays charts with a positive attitude and i'll either go back to bed or get ready to trade by 9AM.

While you lot are still looking for the HOLY GRAIL or is it someone to do the trading for you !!!

SETUP, Support & Resistence, Risk/Reward Ratio, ENTRY/STOP, EXIT/PROFIT/LOSS.

That's all their will EVER BE TO TRADING !!! IT'S EASY !!!

 

[Trader333]

knucklehead,

I have been looking at your chart showing how you made 35 points by observing the first hour of trading and I have to say that I am confused. The first hour shows a strong possibility of a range bound day and yet it turned out to be an upward trending day.

Can you give more detail on how you were able to determine this by looking at the first hour of trading ?


Paul

 

[mutantcar]

HEY KNUCKLEHEAD,

Rather than shouting & getting flamed, how about a challenge for you?

We post up some charts showing the first hour or so of trading, anonymised so you can't figure out what Index / stock / commodity / date it was. You tell us what you reckon the day turned out like - choppy / trending etc. Also, you'd have to promise to tell us how you work it out, otherwise it's not worth our while messing about with the charts.

If you're up for it, tell us what sort of time range you need.

MC.

 

[DanielLambert]

Hey Knuckle......

As an easy exercise..... for the next week why dont you post at 9am GMT if the FTSE is gonna have a choppy day , and then at 330pm GMT post if the ES is going to have a choppy day. It would be interesting to see your results.

 

[roguetrader]

Are Yes, i remember it well .... 29 March 2004.... what a day !!!

I MADE A KILLING THAT DAY !!!

AT LEAST 35 POINTS PROFIT

Attached is the chart for that day, notice the SMOOTH PRICE ACTION from the word GO!!!

NOW, COMPARE this SMOOTH chart with the CHOPPY/ROUGH chart!!!

Memorise them both... one will save you a fortune, the other MAKE you a fortune !!!

LOOK AT THE FIRST HOURS ACTION .... DO IT EVERYDAY !!!! :cheesy:

The first hour of this chart, on its own, shows no indication of the likely outcome of the day. The market did not tip it's hand until around 10:45, by that time you should have been shopping, or back in bed.

 

[knucklehead]

Rogue's Gallery

The first hour of this chart, on its own, shows no indication of the likely outcome of the day. The market did not tip it's hand until around 10:45, by that time you should have been shopping, or back in bed.

Just because you cannot see something doesn't mean it doesn't EXIST !!!

Likewise, after daytrading the same markets for 52 weeks you become SENSITIVE TO ITS QUIRKS!

Thar's why I amke money daytrading, while you skeptics haven't got a clue!!!

 

[knucklehead]

Monday 10 January 2005 - Back to bed 9am

Hey Knuckle......

As an easy exercise..... for the next week why dont you post at 9am GMT if the FTSE is gonna have a choppy day , and then at 330pm GMT post if the ES is going to have a choppy day. It would be interesting to see your results.

That's what I was gonna do for you skeptics, OUT OF THE GOODNESS OF MY HEART !

I hate to see you poor souls losing money !!!

 

[knucklehead]

back to bed awoke at 12.30pm

Now look at the chart, it's choppy going nowhere slow!

Price action is rough and moves 15 points, you can keep it !!!

Where's my 25-35 points, tomorrow is another day!

Also wall street opens at 2.30pm, I could PICK UP SOME MONEY :cheesy:

See you tomorrow, fellow traders.

 

[boy]

Are you STILL GOING TO post then Mr. Knuckehead OR are you going TO PUNISH US all ?