The day trading system that everyone is looking for, the holy grail. I am here to tell you that after 10 years of being in this industry I have finally found the holy grail of day trading systems. I hope you are sitting down to watch this revolutionary trading system
The fact of the matter is that there is no holy grail day trading system. Most people are looking for shortcuts I have to be brutally honest and admit that when I first got into day trading I looked into Fibonacci day trading systems.
That is why I place such a high emphasis on reading the market and understanding how it works. When you are able to understand momentum you don’t need “rules” to trade. Most of the content I see online is about rules based trading, even Tradestation’s tagline is “the leader in rules based trading”.
Every person that I try to talk I try to convince to not pay attention to indicators because they are all a sales pitch. The more fancy the colors are the faster you should run away. The more signals a system has the faster you should look for something else.
You can learn how to day trade on your own and in the end it really doesn’t matter who teaches you how to day trade. No one is going to teach you how to pull the trigger and there is no one in the industry that can do it for you. With the recent failings of MF Global and now PFG Best I don’t know if I would feel comfortable allowing anyone to trade my money, much less having anyone else manage it for me.
That alone is the reason why I said HELL NO to trade a $200 million hedge fund
I wanted to create this post not only to have a laugh at people in the industry but also to tell you that it isn’t necessarily about buying a system or strategy. You can trade on your own, the only thing you have to ask yourself is how much more time it will take to develop your own system rather than buying one that works.
Whether you decide to apply to the recent openings of my new Congressive Trading system or decide to trade on your own, make sure that you learn how to read the market instead of trying to day trade indicators.
Indicators can always be taken away from you but after you learn how to read the market, that is something that no one can ever take away from you.