dbphoenix
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It should come as no surprise that daytraders are looking at different things than fund managers. The "swings" that daytraders are so fond of aren't even seen by most traders. And the timeframes that interest daytraders are far smaller than those that interest traders who focus on daily and weekly charts, much less the focuses of those who trade 5m intervals vs 15m intervals vs hourly intervals. And since everyone is focused on a different interval and timeframe, they to a large extent trade at cross-purposes to each other. Which is a chief reason why so many trades fail.
But the time eventually comes when the planets align and everyone just happens to be looking at the activity surrounding -- for example -- the previous day's high, or the previous week's high. They are all looking at the same thing in largely the same way and trading the same move. Everyone is on board, and the train takes off in a very impressive way. Those who are not aware of this dynamic may view it all as coincidence, but it is more accurately a phenomenon in which everybody in all timeframes is trading in the same direction.
I love those days.
foroom lluzers
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https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=the+need+to+be+right
The need to be right about placing trades plays an important part in their decision to day trade , secondly they get immediate action in the market .How does a new trader know , if the price will be higher or lower tommorow ? There are two fears that make them decide when to trade and what to trade , these are
Fear of Not Being Right :They could be wrong on a trade they have no certainty about
-Fear of Loss :They could suffer a loss on a trade they have no certainty about
In trading , when putting on a trade , we exit a trade when it moves a few ticks against us , we are constrantly re-entering into trades when it catches our direction and getting out of trades , when it it again moves a few ticks against us.This is a need to be right , in our brain calling the shots.
https://www.google.co.uk/webhp?sour...spv=2&ie=UTF-8#q=the+need+to+be+right&tbm=vid
The need to be right about placing trades plays an important part in their decision to day trade , secondly they get immediate action in the market .How does a new trader know , if the price will be higher or lower tommorow ? There are two fears that make them decide when to trade and what to trade , these are
Fear of Not Being Right :They could be wrong on a trade they have no certainty about
-Fear of Loss :They could suffer a loss on a trade they have no certainty about
In trading , when putting on a trade , we exit a trade when it moves a few ticks against us , we are constrantly re-entering into trades when it catches our direction and getting out of trades , when it it again moves a few ticks against us.This is a need to be right , in our brain calling the shots.
https://www.google.co.uk/webhp?sour...spv=2&ie=UTF-8#q=the+need+to+be+right&tbm=vid
piphoe
Legendary member
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There are other things at play here. While watching price during my waking/trading hours I feel more in control. I can see whats happening now, and whether any anomalies have shown up in my world view of price behavior. I can act on them right away when daytrading.
I constantly wonder "what the hell is going on" while swing trading sleeping or away from the screens 😢
I constantly wonder "what the hell is going on" while swing trading sleeping or away from the screens 😢
