I'm back

I took the last year off from trading in order to focus on school and some other things. I've actually been back to watching charts for the last few months to try and get my "legs" back so to speak. In doing so I've had to re-learn quite a few techniques and figure out what the heck some of my old blog posts were even talking about. On the bright side, I've also gained a better understanding of some of the things I used to do and added some new dimensions.

One of the things I haven't done in a long time is intraday and scalp trading. I've got a whole statistical based system that did quite well for intraday and scalping but like most systems out there it doesn't do a good job accounting for time, although it does give a general ball park.

The problem with scalping and intraday is that things can happen on such a wide scale without the benefit of getting too intricate on the analysis. For example, it wouldn't be the most practical to use my new crop circle method on a 1 min. chart because it would take 10-15 min. to get the patterns right. However, by simplifiying things and just going with some static cycles along with basic price measures such as square of nine price levels, pivots, Murry Math levels, fibs, or just trendlines and support/resistence, there are plenty of spots to pick market turns on the pip and to the minute.

Intraday and scalping also present another aspect that I haven't dealt with in a while and that is trading with the poker mindset. When I say poker, I don't mean gambling. I mean sitting there making quick decisions based on a small amount of information. Folding hands ie cutting losses and moving on to the next hand.

Anywho, I'll be updating the blog shortly with some new findings.