When To Trade

I am not afraid of getting Stopped Out. It's normal in this profession. What's I am afraid is stopped out and not having chance to get it back and make profit. Most people thinks that if we can master one or two instrument, we can live forever. I surely believe every market has its own character. But can the character change? Everything in market is possible. I am talkin about day trading here.

I am purely believe if you can identified early warning of trending market or not, voaltile or not, no matter the directions, you can be rich in the market. Just trade the trendy day, avoid the chopped day, voila...Less stress, more time to enjoy life. We don't need to trade every wiggle and tails on chart. Just catch the sign of decent movement warning, ride with it and all's good.

Which one do you prefer, mastering the market directions 5-6 ticks move or master of identifying the early trend (don't know) the directions, just knowing it's gonna explode for 50-100 ticks move. The first one, you can get solid 5 ticks per day and still having risk blowing out because wrong reading. Second, you can stopped out 5-6 times and yet book a solid 10-20 ticks profit at minimum.

Just my thought. I am happy if I can booked profit every single day. Who doesn't? Is it possible? It's possible, but it's hard as hell to do it. The dillema of trading for a living. You have to trade regardless the market condition.

A specialized trader which is focus in little instruments is indeed a great things. Like a surgeon doctor who specialized in neouron for example. Specialized and mastered the specific profession. But surprisingly, there's lot of people out there make money not specializing from exact symbol.

Example:

SMB Capital, day trading stocks in play.

For a retail side : Scott's from Bankrobber.blogspot also do the same things

They are not trying to master the one symbol, but rather mastering for the most opportunities symbol to trade. And they're doing good because like asumption: If you open a clothes stores, most likely you will doing better if you sell the popular stuffs, though you only know little bout things you sell. Rather than you know how many strings needed for the cloth, how many buttons are there inside, how much material needed, while the cloth out of date.

Of course you can make big profit specializing one symbol. I believe that. But it's difficult and no guaranteed it won't change. How about someday, your only sole instruments close for business or mutate like ER2 becoming TF? It's change characteristic.

So how about mastering to identify symbol in play? Or identify chopped or trend market? You reduced the risk to chopped out, and no matter how many symbol died, you can switch easily because there's always money flowing to another.

Just pure of my thought. Although I am not profitable yet in this profession, but this is what I believe. Filtering the chop and only trade with the dynamic. This last 2 days, I make wrong choice. If I trade on Monday's Crude, I will make money, guaranteed 101%. Because that's how my method works. Looked on EUR or 6E in today's (02/02/11) make me sick. I give my salute for those of you daytrading EUR and booked profit.

No Trade Mode = On. This is one of the filter I need.