Discussion about this post

User's avatar
DIY Investor's avatar

Thanks for writing this. Do long term investors become day traders? I always thought it's the other way around once people lose money day trading.

Expand full comment
Skip Day's avatar

I was a professional trader for hedge funds. We have more resources, money and information than you will ever receive. Chart reading is mandatory and works on four hour charts and dailies bc it will capture everything we did that day. But during the market session, charts aren’t as accurate for you because we are forming the patterns and will change them because we can . We know when and at what price the day traders are more active, since they all behave like a herd, and it only takes one guy to clean them out, on purpose. You watch volume. We know the volume. Is the market maker net short or long and how aggressive is he and at what price can we do trades of different sizes? Which other fund is looking to buy or sell at any price? Who screwed who and is now getting punished? Blah, blah. Thousands of examples of a market small traders should not be in.

Expand full comment
1 more comment...

No posts

Ready for more?