[foamgod]

Originally Posted by RedDuke

Hello TraderABC,

I think that you will get a lot of different opinions on this thread. The best answer is: “It all depends…”. A lot depends on your psychology, what are you comfortable with. I’m sure you heard or read “Market Wizards” by Schwager. It is a perfect example of the bunch of successes about people who utilize most of the things that you mentioned. There you have a guy that does even look at charts, another one who makes around 3 decisions per year, another who scalps T-bond market and the list goes on.

I am personally an intra day trader with a trade time span from several minutes to several hours. I utilize a strategy developed by Mark Fisher called “ACD” which is described in his book “Logical Trader”, there also a thread on this subject, just search for ACD. Now, Mark is a very successful trader, who does not believe in “No pain, no gain” as related to holding position long term and living through drawdowns. His believes in immediate gratification. This is the style of trading that I am comfortable with, and this is what I use.

redduke

How successful i.e. profitable have you found this to be? Care to share? Thanks.