Day Trading Strategies Working While Swing Traders Remain Confused
My day trading strategies paid me this week. Feels like going back to visit an old friend.
“Back in the day” when I did nothing but day trade we watched a one minute chart. Hyper scalping the level 2 box using the one minute line chart as the trend. Bid for stock, and immediately offer it out for a “teenie.”
It was fun, it was exhausting.
Many days ended with early night to bed. Focusing on every tick, watching time and sales like a hawk for clues wore me down. Eventually I stopped. Not quite cold turkey but day trading was no longer my main source of income. Swing trading took center stage.
My trading plan was largely the same, but it evolved to higher time frames.
Today's news and chaotic political landscape have forced me to dust off my old day trading strategies because the bigger picture isn't clear. I'm not happy about it but it pays the bills.
I guess you can say it's been fun visiting an old friend. Using the hourly and 15 minute charts for the trend. The trading lesson? Don't force trades if your main time frame is unclear.
I'm talking to some new traders in the coaching program who are insistent they “must trade” because it's what they do for a living.
No you MUST NOT trade, you must trade when you have higher odds to make money. NOT because you have labeled yourself as a trader.
Never forget that.
Facebook wants to make payments as easy as sending a photo
Facebook thinks making payments should be as easy as sending a photo. But rolling out that service for more than a billion users isn’t something the social network’s executives think it can do on its own.
“We don’t believe we are a payments company—we don’t believe we have the skills to be a payments company,” Paulette Rowe, Facebook’s global head of payment and financial services partnerships, said today at the Money 20/20 Europe conference in Amsterdam. “What we do want to do is to partner.”
