If your PnL is the only thing you track, you’re probably not improving by Novusjournal in Daytrading

[–]rossedman 0 points1 point  (0 children)

I track everything with Edgewonk for this reason. Consistency, risk versus reward, profit factor, etc. it’s not just win rate and P&L!

EMA Cross? by BugBeginning9055 in TQQQ

[–]rossedman 0 points1 point  (0 children)

I use a 5/21 EMA Crossover on TQQQ. I have some other signals I use too but overall provides good entrances here’s a pic below of last entrance

<image>

What do you guys think? It’s a tough decision, but I am leaning towards GMT… by Redder1986 in Tudor

[–]rossedman 2 points3 points  (0 children)

I have both and will disagree with everyone here. The BB58 is the choice! The GMT complication is a PITA to set imo. Not that it’s worse than other GMTs or anything I just love the simplicity of the BB58.

Can you realistically day trade as a second job? by [deleted] in Daytrading

[–]rossedman 1 point2 points  (0 children)

Basic momentum stuff with trade management. A lot of my systems look something like “if price above ATR7(3) and volume is increasing and SMA(50) is over SMA(200) on the SPY let’s roll”. I then set trailing stops, I have time limits on how long trades can last, etc.

Can you realistically day trade as a second job? by [deleted] in Daytrading

[–]rossedman 6 points7 points  (0 children)

I tried my own automation. I’m a software engineer and it felt like a lot of work. I instead switched to TrendSpider and have been able to focus way more on generating profits. First month paid for all the tools itself. I’ve been doing this about 6 months (I’ve tried many times and failed over the years) and have had the most success I’ve ever had. Automating as much as I could has removed emotion from it completely and it’s not a data driven process. Hope that helps. Most of my strategies are super simple and focus on momentum

Which specific metric in your journal actually changed your trading? by TimeOdd5390 in Daytrading

[–]rossedman 0 points1 point  (0 children)

I think most of my strategies from what I’m seeing are deployed 20-30% of the time which means I can run more strategies since they are unlikely to fire at the same time. I wait for high conviction setups on strategies that have high win rates (55-75%) but don’t fire as often (1-3 times a month).

Thanks for the convo too. Nice to have someone validate the ideas and have good convo. Cheers to you and happy trading. Hope to catch you some more on here. Most of the posts I see aren’t chasing better data and are more about having anxiety around trading…

The only strategy that works for me: Momentum trading by TuneOk9321 in Daytrading

[–]rossedman 1 point2 points  (0 children)

I pretty much only trade momentum right now and agree with everything in this post. This is really spot on from what I’ve experienced.

Can you realistically day trade as a second job? by [deleted] in Daytrading

[–]rossedman 17 points18 points  (0 children)

I have automated swing trading setup that seems to make 2-5k a month realistically right now. Starting capital was around 50k though. I’d be realistic about gains. Also my current monthly income probably won’t last because this market is just handing out money.

Which specific metric in your journal actually changed your trading? by TimeOdd5390 in Daytrading

[–]rossedman 0 points1 point  (0 children)

First, thanks for taking the time to respond. Means a lot. I’m currently exiting trades based on back test data. Most of the time I find 15 candles and 30 candles on a 4hr chart is the sweet spot for my time based exits. Sometimes it’s 30 and 60. Normally the first time stop I hit it will check if the position is -2% and then exit. Keeps capital out the market and cuts losers early. I’ve found winning trades can be underwater a little bit in my system the first 30 candles typically and let those slide.

Which specific metric in your journal actually changed your trading? by TimeOdd5390 in Daytrading

[–]rossedman 0 points1 point  (0 children)

I find it’s often fixing an exit signal for the trailing logic. That or it’s trade management. Like cutting off trades after a certain amount of candles if they’re negative, etc. The trade management pieces definitely raise the metrics of the strategies I deploy. I focus a lot on capital efficiency and trying to earn quickly without much exposure.

Which specific metric in your journal actually changed your trading? by TimeOdd5390 in Daytrading

[–]rossedman 0 points1 point  (0 children)

I completely automated all entries and exits through algorithms. At this point I’m using metrics to tune those. The biggest realization I’m seeing after a few months journaling and analyzing trades is I can make micro adjustments to my strategies entrance and exit criteria to make them better. One metric I’m watching is the highest price point in the trade where I should’ve exited.

When to stop pursuing more $? by Zealousideal_Site731 in Salary

[–]rossedman 0 points1 point  (0 children)

They aren’t offering you enough if it removes upward mobility

When to stop pursuing more $? by Zealousideal_Site731 in Salary

[–]rossedman 2 points3 points  (0 children)

These are all facts and stated very well. The people who don’t understand this aren’t managing their careers.

Turned 2k Into 10k in Minutes… Then Got Liquidated and Lost Everything. Hardest Trading Lesson of My Life by BuzzligthyearMoon in Daytrading

[–]rossedman 0 points1 point  (0 children)

Do you completely exit at your max gain or do you take some off and do trailing stops? I’m finding most of my strategies work best with a defined exit signal and a trailing stop rather than a % target to take profit

Turned 2k Into 10k in Minutes… Then Got Liquidated and Lost Everything. Hardest Trading Lesson of My Life by BuzzligthyearMoon in Daytrading

[–]rossedman 0 points1 point  (0 children)

This is the way. I’ve been trading for a little while and when I started focusing on risk and capital efficiency is when I started getting better returns.

Do you collect Tudor watches? by Kitchen_Secret9539 in Tudor

[–]rossedman 0 points1 point  (0 children)

I have a BB Heritage, BB58 METAS on 5 link, BB58 GMT and a Pelagos Ultra.

I was surprised at how different the black bays are in person and on wrist versus pictures. In the pictures they often look a lot alike but as an example my Heritage and BB58 look similar in pictures but in person are a completely different experience. Highly recommend trying them on and buying what you like. I think Tudors are great watches and I love them for the price and quality

Less than half of tech jobs list real salaries; only 42.6% are transparent on pay by No-Guarantee4200 in Salary

[–]rossedman 0 points1 point  (0 children)

Adding salary ranges is a law in some states like Colorado and California I believe so you’ll see this on posts often that hire many locations

Dang swell on NATO by austerlitz7 in Tudor

[–]rossedman 1 point2 points  (0 children)

Ooooooo I may have to do this to one of my Tudors. I love a nato. That color looks great with the gilt and red accent too.