Hey, I agree not the best of times for daytrading stocks imo. Don't see things improving soon but maybe they will. Anyway I'm starting to trade forex now as well so not so dependent on the stock market. If I had more funds I would swing trade stocks as well. Maybe you can consider trying a diff market or timeframe. I am making $ every week but still far cry from 2002 and understand the frustration and stress I never felt back in 2002. Anyway it seems like the forex market's volatility reminds me of those fun filled 20 pt ranges we had every day in the SP's. If you are making $ in stocks still you should do better with a market that really moves.
This month sucks so dar Some traders bitch & moan Some adjust and learn new techniques I'm doing both But Im up for the month so I know Im doing better than most. CalTrader has a point, there are still many opportunities. But to say that this yearso far is better than last, well I dunno what and how you are trading. I figure if you are good enough to have a good year so far, you should have had a blast last year.
TOYLET. LMAO. This is very tradeable, the volatility is picking back up. The position and intraday guys will be able to make a killing. I'm still undecided as to whether we will see stagflation or deflation, but either way, the Wall St. Stock boys are going down big time.
If you are not prepared to make money in a market that is falling from the sky, you better watch out because some time between now and July, this market will top out. I do not know if it topped out yet, and I still think that July will give us the top, but when it goes, it will go big time. If this happens, all of the guys in the prop firms will get blown out, unless they are prepared for the slow grinding mudslide that we will see.
All you guys that are whining need to find a place to trade where other guys are making $. THIS market is the most tradeable market we've had in 3 years imo.
Wait a minute, After the tech crash in 00 till 02, it was a bear market with sick volume and great volatility. Same traders that cannot make money today used to make great money. Overall, those years up to 2003 were good. So this has nothing to do with a falling market or a rising market. This has to do with dead volatility, low volume and bad ranges over the past two and a half weeks. I personally had a great Jan and a great first week of Feb. And then this dead market comes around. You cannot even base anything regarding the overall direction of the market from this past month of Feb. It's slow, low volume, low volatility. If it stays like this, noone is going to blow out, traders will just slowly fall out. Volume at prop firms will fall, traders will quit for new ventures or low level jobs and thats it. There isn't anything good about it even for super traders. Less smaller hack traders means less money to take. Seriously, it gets so boring I see guys almost falling asleep. Dustin : I'm not sure to what time frame you are referring to but this thread was started due to the crappy turn this market took in Feb. If you made such great money this past few weeks, you should have been a millionaire from January alone. So hypothetically if you did accomplish that, why would you consider this a great month/time?
I conducted a meeting for the traders who have been at the firm for 6 months or less and asked for a show of hands of people who expected to be getting a check at the end of this month.....not one hand went up, and this was followed by nervous laughter.....vix down 6% today.....volume is SHIT....the whole trading day could be compressed into a one and a half hour time frame instead of the current six and a half hour specialist rapefest.......swing trading works to a degree but even this is starting to have inverse risk/return profiles.
Trading sux right now. Anyone who says otherwise doesn't know what they are talking about. But day trading is not done. You can still make money 3 out of 5 days a week if you are trading correctly. But making money 4 out of 5 days a week is almost impossible in this sick volatility. It has been 4 steps forward, 3 steps back since Feb 2003 when trading took a big turn for the worse. You can make money still, but it is painfully frustrating and you will go home a loser on many nights.
Everyone has different trading styles. Mine has been working very well, especially since '04 began. Also, I know that many prop shops teach some form of my strategy so there must be some other guys making dough. "not one hand went up, and this was followed by nervous laughter" -Grimer That sounds like a great place to trade.