With $10 in the trade, it’s also fun to say on good days like today — Made $7900 today with my 10 grand in the market and now I’m flat with no overnight risk! What a fool am I?!
When the market moves in gaps with flat days (short range), the day traders look like fools. When the market moves back and forth in large ranges or a strong trending day, day-traders look like geniuses. In the big picture i.e over the long run, what matters is the sustainability of any system and consistency - whether you day trade or swing trade.
I have been watching your system. It's pretty darn good on trending days. But what about those flat days ? Can you post a chart for a few of those flat days. I am trying to understand if the profits on winning days compensates above and beyond the losses sustained on those flat days, given that we are seeing more of flat days in a month than trending days. In years like 2008, your system would make a killing.
Good trading !
"It's not the knowing that is difficult, but the doing"
“I have heard many men talk intelligently, even brilliantly, about something – only to see them proven powerless when it comes to acting on what they believe” - Bernard Baruch