Mr. Hyde wrote:LeMercenaire wrote:Mr. Hyde wrote:Playing the range is where the real money is at.
I love a bit of boing-boing!
Always remember also, that you can just as easily use micro-ranges, those zones that form between two fib-levels, or a fib-level and a Z-Line, for instance. I did that very thing this morning on the Wall St 1-min chart.
Hum. Care to post an example.
And I definitely had a Lem type of day trading so far. Scalps, zlines, range trades, pullbacks, S&D and all trades were pretty much traded with what I would assume is a simplified approach to your MM style (just no hedging). The gains were just stupid. Plus I still have the deadzone to play and the ES, plus the flip and whatever else shows up. Loving today. To say the impossible is very possible is an understatement. People really set their goals way to low. After we talked I just kept playing different scenario's over in my head on how to accomplish such things. And it really just kind of clicked.
I just stuck up a trade over in my yard that gives an example of this - the last of the three.
Glad you've had a light-bulb moment and if I had a small something to do with that, more than happy to have helped.
For me, the reason why you can get a day like this out of the methods I use personally - and you mentioned a good chunk of those - is that they all flow naturally into and out of one another, they share the same dna and overlap perfectly.
I know the perceived wisdom is to pick one method and stick to it and actually I am going to contradict myself and say that I agree with that - so long as you are finding your feet. However, that will by design, limit your opportunities and I feel that that is why so many traders get sucked into shall we say, less-than-perfect entries. Because they are trying to find a trade that fits their method and they jump between pairs and are all over the place, of course missing as many good ones as they make poor ones.
Now if you have a stable of methods, all of which come from the same way of thinking, then you can instead find and learn and master a single or maybe small handful of pairs that you get right into the guts of - learning it/them inside out (for me, my default is always The DAX) and instead of using many, many, pairs with one method, you have one pair that can be traded in many different ways throughout the trading day.
This also means that if you by any chance can't get to the charts for part of the day, then you will likely have a way to get on board something when you do get the chance to sit down in front of the screens.
Set that bar high, my friend. Push yourself to failure. That is how you get stronger and better and eventually it becomes, if not quite effortless, at least enjoyable! There's gold to be bought!
either way nice job.