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Are there any indicators or systems that people use to determine if a trend is forming on an intraday chart for day trading?
I trade /ES, /CL, /GC every day, and what I see whenever there is a bull or bear trend all day is that the market becomes overbought or oversold, and it begins to oscillate the other way. As it begins to retrace though, it fakes out, and the market continues the trend.
I'm missing out on ton of money in the trend trades. I make great money scalping futures otherwise for a prop fund, but otherwise I could increase my potential with this trend day trading indicator/s or system.
Thanks in advance.
Can you help answer these questions from other members on NexusFi?
You lack basic understanding and therefore you are asking all the wrong kinds of questions, because you don't yet know enough about the market to ask the right kinds of questions.
A good place to get educated would be in the 200+ webinars in our library on this site, or to start reading threads like the big ES thread where you can see good traders earning a living every day.
Both Fed Chairman Bernanke’s remarks yesterday and President Obama’s speech last night about his jobs plan; combined, failed to reassure the market that a solution to the country’s economic woes was at hand, and the …
I don't think I get your post. You profile says you are an advanced futures trader and you state you work for a prop fund - yet you lack some basic understanding of trend?
There must be something I am missing here...
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- Trade what you see. Invest in what you believe -
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I scalp a few ticks on trend reversals multiple trades each day for them. It keeps my quota going, but how about holding onto the trends.
For instance if the day runs up 40 points on the ES, and all it does is stair case all the way up and close at the high, I never get in a reversal scalp because momentum is not sidewinding like on ordinary days. I need to know if the trend will keep momentum in one direction. What indicator/s or system gives me those cues or allows to take advantage of the whole hockey stick trend on the day?
And Mike, I will look into the link you posted. Thanks, Big Dawg.
This is Pandora's box. I have no idea why you would be looking for a reversal scalp in a huge bull run like that. Why wouldn't you be trading with trend in the first place? The market will trend until it doesn't.
I just don't see how you can consider yourself an 'advanced' futures trader. Sorry, but I am baffled here!?
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- Trade what you see. Invest in what you believe -
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I must have misinterpreted what you said about not getting into a reversal scalp. The way I read your post was as if you were chasing a reversal scalp in a bull run, not avoiding a reversal a scalp in a bull run - which upon reading your post again, is probably what you were getting at. Which makes sense.
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- Trade what you see. Invest in what you believe -
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