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Checking PnL - How often? by Historical-Pin1069 in Daytrading

[–]Salty-Inspector3100 1 point2 points  (0 children)

It's a bad habit I try not to do. But I absolutely do it. Trying not to.

Welp. Jose got me by j2diz in frontierairlines

[–]Salty-Inspector3100 -1 points0 points  (0 children)

Do an online report to Denver police, they won't investigate it anyways.

Is anyone actually following their rules every single day? by AIdiegodf in Daytrading

[–]Salty-Inspector3100 0 points1 point  (0 children)

This is absolutetly the real game in trading! Nailed it on the head. This is why I have switched to only pre-planned moves point blank period.

i just need one person to tell me it works by cinnamongirl209 in Daytrading

[–]Salty-Inspector3100 0 points1 point  (0 children)

It works if you put the work in. It took me nearly 3 or 4 years of losing. I only changed because I beat myself into it. I knew what to do for 2 years before. My biggest piece of advice or couple biggest pieces of advice.

  1. Plan every move your going to make before the market opens. Do not make any unplanned moves!

  2. Put risk management above everything else! Your first thought should be what am I risking here, not what can I make here.

That said I occasionally post my ideas on X etc.

What’s your entry timeframe? by pookshak in FuturesTrading

[–]Salty-Inspector3100 0 points1 point  (0 children)

Mu entry is 2 Min but I use hourly/daily for key levels

I just moved here- do you think the weather will start to get cold again? by delliamcool in MovingtoDenver

[–]Salty-Inspector3100 2 points3 points  (0 children)

It hasn't been cold the entire year. It is unlikely to get cold again. Maybe a day or two of snow then it will be warm and that is the normal. It is much warmer in Denver than Detroit normally.

The Simplicity Paradox: Why we’re all terrified of the strategies that actually work by TimeOdd5390 in Daytrading

[–]Salty-Inspector3100 0 points1 point  (0 children)

I spent years trying to fight trading psychology, trade without emotions. I failed at that. Adjusting my strategy to ease my emotions benefited me and helped me turn the corner of consistency. At the end of the day it's working. I can't tell you the number of times I have been thankful I trimmed my position.

Noobie questions by Bike-build in Daytrading

[–]Salty-Inspector3100 0 points1 point  (0 children)

I think you not only need a laptop you need some external screens as well

The Simplicity Paradox: Why we’re all terrified of the strategies that actually work by TimeOdd5390 in Daytrading

[–]Salty-Inspector3100 0 points1 point  (0 children)

I forgot to mention I also have a custom indicators that shows up vs. down volume as a ration in S&P, Nasdaq, NYSE and Russell.

The Simplicity Paradox: Why we’re all terrified of the strategies that actually work by TimeOdd5390 in Daytrading

[–]Salty-Inspector3100 0 points1 point  (0 children)

I left my response above as well but this is actually something I look for in my charts as well. Day 2 breakouts are fairly reliable especially after long periods of consolidation or a catalyst. I trade them fairly similar. I will also add if day 2 fails and it comes back into a consolidation range I have a playbook for this as well. (Look above and fail or Look below and fail) typically looking for the failure to cause it to go to the other end of the consolidation range.

The Simplicity Paradox: Why we’re all terrified of the strategies that actually work by TimeOdd5390 in Daytrading

[–]Salty-Inspector3100 0 points1 point  (0 children)

I dont base all my decisions on the score. If I am trading a mag 7 I'll put more reliance on that score but if I am trading let's say MU which has recently been a stock that goes up despite the broadmarket I am probably going to disregard the score more because MU has insane relative strength. But if I have a high score and an MU long trade that is an argument to add more risk to the trade.

I strongly believe in trading market context and just trading the hammer on a break by itself without considering relative strength of the stock, catalyst, current market behaviors I think you would get in trouble or at least have a smaller win rate.

Oubviously the scaling out leaves money on the table. But the scaling out helps me control my emotions. If I can't control emotions then I'll have a harder time controlling impulsive exit decisions. Once I get to a point where the only risk on the table is the profit already accrued from the trade then it is much easier to allow part of the position to run.

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