I am a day trader. But I don’t believe in trends. And for that
reason I play only the long side of the market. Each day my goal is to buy when
the market seems “oversold” and to sell on the following bounce after it goes a
statistically “normal” distance.

I don’t use indicators or oscillators of any kind. Instead I try to buy near previous low points on my charts. Sometimes I try to anticipate
a low point when the market has dropped about as far as it did on some previous
down swing. I identify lows and lengths of swings on my 5 minute, 1 minute, and
10 second bar charts.

I make many trades when the market is volatile and fewer when it
is not. My goal is to show a profit each day and to do this I must keep losses
under control. But I do not use stop-loss orders. Instead I wait for the market
to show me that what I thought was a support level is failing, then I get out.
Spending “too much time” below support is generally a good indicator that it is
failing.

I aim for profits of 10 or more ES
points on a good trade and try to keep losses to 3 to 6 points on a bad
one. For the first 6 months of 2022
I show a net profit of 1124 points per contract. Remember, this
is all from long side trades made in a generally declining market!

I think trading is a full time job and I spend my day watching the
market closely. So if you have only limited time to devote to trading the odds
will be stacked against you. This is as it should be – there is no “free lunch”
for traders