I've had a swing trade demo account running paraller to a scalping demo account as well as a live account that incorporated elements of both. My Scalping account was going nowhere and my live account was slowly dwindling. My swing trade account was profitable 70% of the time though using simple traditional TA, 4 hr and daily time frame, MACD and RSI and STOCHS for confirmation. Each trade risks 2% to make 4% and the SL and TP are generous to allow plenty of breathign room. I got tired of looking to make 2% or whatever each day scalping and so reluctantly settled for this swing trading method and so far it is working splendid. Sure, the returns are low compared to what can be made by an experienced scalper but these people make up such a small minority of the trading population. I ahve come to the reality that I am not good enough for this type of trading, that I will not make mega compounding scalps that make me a millionaire ina year or 2 years. By facing this reality my trading accoutn is now in the black and I am making profits most weeks adn I sleep a lot better now.
Guys, unless you are very experienced and have gradually moved towards scalping just avoid it. It is a losers game for most, the spread is what gets you. Go for swing trading, it's easier, gives you plenty of time to think things through and thus results in less stress. I think so clearly about things now on a longer time frame, and the results are proving my revelation so far.
So all in all I make less money than I had dreamt of, but I am making money. With time, realistically several years, maybe a decade even, this type of trading will compound into decent monthly returns. I realise now that you need a pretty large account to consistantly make good money in the markets, a $5K account or whatever ain't gonna make you a good living in the western world.
Guys, unless you are very experienced and have gradually moved towards scalping just avoid it. It is a losers game for most, the spread is what gets you. Go for swing trading, it's easier, gives you plenty of time to think things through and thus results in less stress. I think so clearly about things now on a longer time frame, and the results are proving my revelation so far.
So all in all I make less money than I had dreamt of, but I am making money. With time, realistically several years, maybe a decade even, this type of trading will compound into decent monthly returns. I realise now that you need a pretty large account to consistantly make good money in the markets, a $5K account or whatever ain't gonna make you a good living in the western world.