Any day traders in the forum?

[callmepaul]

Day trading is quite controversial on itself, but if there are any in here, would love to hear from you, share experiences, ideas.

I personally allocate a tiny part of my portfolio to daytrading, mostly futures.

[S209]

Day trading is quite controversial on itself, but if there are any in here, would love to hear from you, share experiences, ideas.

I personally allocate a tiny part of my portfolio to daytrading, mostly futures.

Try @ludmila

Also, this is the thread you're looking for

[callmepaul]

Try @ludmila

Also, this is the thread you're looking for

thanks! I follow that one but it is mainly stocks and long term.

[ludmila]

thanks! I follow that one but it is mainly stocks and long term.

I do trade stocks ,but  most of my trades are futures and Forex. I do some day trades, but I do not post them because I can be in and out in minutes, but most of my trades last a few days to a few weeks max.

[callmepaul]

I do trade stocks ,but  most of my trades are futures and Forex. I do some day trades, but I do not post them because I can be in and out in minutes, but most of my trades last a few days to a few weeks max.

Hello Ludmila, thanks for sharing. I trade mostly ES, usually open close the same day, although on same rare occasion I can hold for a couple of days depending how things are going.

Is this you do for a living? I am always learning and would love to hear for more successful traders.
Thanks again

[ludmila]

Hello Ludmila, thanks for sharing. I trade mostly ES, usually open close the same day, although on same rare occasion I can hold for a couple of days depending how things are going.

Is this you do for a living? I am always learning and would love to hear for more successful traders.
Thanks again

What time frame charts if any do you use for day trading ES?

[callmepaul]

What time frame charts if any do you use for day trading ES?

A split screen with 5min, 30min, daily and another one with 1 month market profile. What about you?

[ludmila]

A split screen with 5min, 30min, daily and another one with 1 month market profile. What about you?

For day trades, 5 min,30 min, hourly and daily.

[callmepaul]

For day trades, 5 min,30 min, hourly and daily.

Have you been trading for a while? any fundamental analysis for your day trades or all technical?

[ludmila]

Have you been trading for a while? any fundamental analysis for your day trades or all technical?

All technical, but not the well known and popularly followed , over 25 years.
.

[callmepaul]

All technical, but not the well known and popularly followed , over 25 years.
.

I have been trading futures for 5 years +-. Mostly exclusively ES. Still willing to learn and improve more. Is there any book, trader, or whatever you would recommend?

[ludmila]

I have been trading futures for 5 years +-. Mostly exclusively ES. Still willing to learn and improve more. Is there any book, trader, or whatever you would recommend?

Only books written by very successful traders, not by good writers and marketers. I truly recommend the three books written by Trader Vic, the legendary trader Victor Sperandeo who was featured in Super Traders and the New Market Wizards among others, he made his first fortune shorting and predicting it to the day, the 1987 crash, and never had a losing year  during his close to 50 years of trading, George Soros hired him to trade a few billion$ for his fund. I had been lucky, many years ago, to train with him in person, and I am still in touch with him constantly.
Here is a seekingalpha article about his first book, but make sure to read all 3, the third and last he wrote was about futures, but the first 2 are the best ever.

https://seekingalpha.com/instablog/251422-brett-owens/39682-trader-vic-the-best-trading-book-youve-never-heard-of

[callmepaul]

Only books written by very successful traders, not by good writers and marketers. I truly recommend the three books written by Trader Vic, the legendary trader Victor Sperandeo who was featured in Super Traders and the New Market Wizards among others, he made his first fortune shorting and predicting it to the day, the 1987 crash, and never had a losing year  during his close to 50 years of trading, George Soros hired him to trade a few billion$ for his fund. I had been lucky, many years ago, to train with him in person, and I am still in touch with him constantly.
Here is a seekingalpha article about his first book, but make sure to read all 3, the third and last he wrote was about futures, but the first 2 are the best ever.

https://seekingalpha.com/instablog/251422-brett-owens/39682-trader-vic-the-best-trading-book-youve-never-heard-of

Thanks a lot, I really appreciate the suggestion and I am already looking into them on Amazon. Will read them and share my opinions.

If you ever considered becoming a mentor then add me to the list. I am more than willing to learn from more experience, successful traders. All my knowledge comes from books. The ones I like the most are Market Wizards (both of them), Trading in the Zone and some of the ideas of the Market Profile by Dalton, but I never had the opportunity to exchange ideas with other traders (except from Stocktwits... but people there are not necessary all savy..)

So I will be more than happy if you are open for getting questions and exchanging ideas on the subject.

Thanks again, will be getting Vic's books tonight.

[LoLo]

All technical, but not the well known and popularly followed , over 25 years.
.

What indicators/patterns do you use most for day trading?

[callmepaul]

What indicators/patterns do you use most for day trading?

I am not a big fan of indicators, I do have the vwap on my 5 min chart, and a domchain channel. I do have a market profile and monkey bars which I use a lot. But I am not a fan of macd, RSI or so... Although as I said, I am still learning.
What about you?

[ludmila]

Thanks a lot, I really appreciate the suggestion and I am already looking into them on Amazon. Will read them and share my opinions.

If you ever considered becoming a mentor then add me to the list. I am more than willing to learn from more experience, successful traders. All my knowledge comes from books. The ones I like the most are Market Wizards (both of them), Trading in the Zone and some of the ideas of the Market Profile by Dalton, but I never had the opportunity to exchange ideas with other traders (except from Stocktwits... but people there are not necessary all savy..)

So I will be more than happy if you are open for getting questions and exchanging ideas on the subject.

Thanks again, will be getting Vic's books tonight.

Other than his books, a lot can be learned from some articles by or about his methods and some interviews with im online or some videos. There is a Barron's article about him in 1987 which is very interesting, he gave me a copy of the Original print, not sure if it can be found online. He uses both technicals and fundamentals for intermediate term trends, all developed by him, there are some not mentioned in his books which I learned personally from him and we had to sign a non disclosure.

[callmepaul]

Other than his books, a lot can be learned from some articles by or about his methods and some interviews with im online or some videos. There is a Barron's article about him in 1987 which is very interesting, he gave me a copy of the Original print, not sure if it can be found online. He uses both technicals and fundamentals for intermediate term trends, all developed by him, there are some not mentioned in his books which I learned personally from him and we had to sign a non disclosure.

Yes, I am already reading about him and it aligns a lot to what others like him say. There are some summaries of this books online, but I think I will still get them.

Do you mind me asking questions about the book while I digest them?

I also like the quote on his website

"The key to trading success is emotional discipline.
If intelligence were the key, there would be a lot more people making money trading."

I have been very successful making money with my own strategies, my main problem is with discipline. Sometimes my strategies work for months and months without even 1 trade going against me. With time I learn that is a curse because when a real bad trade comes I tend not to stop it, thus losing months of profits.

Maybe I can find some inspiration in his books to solve that issue.

[LoLo]

when a real bad trade comes I tend not to stop it, thus losing months of profits.

You need to learn risk management. You should never have such a large position, especially not without a stop.

[callmepaul]

You need to learn risk management. You should never have such a large position, especially not without a stop.

Totally agree, admitting mistakes is for me the hardest part.

[ludmila]

Totally agree, admitting mistakes is for me the hardest part.

And to all of us. It is always easy to say it but not so easy to be disciplined all the time. With years of trading I learned that your first loss is always your smallest loss, I use a stop loss and if it is hit I am out no matter what, can always reevaluate and renter.