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The brutal truth of day trading

Quoting pipibrasci
{quote} Good, now if you have something to share to make a point do so rather than trolling posts, making sarcastic comments, posting animal pictures on a thread like this. You learnt how to trade by reading books and putting in the effort to practice what you have read. You didnt just open a trading account and started trading. Every trader has to go through a phase before getting that satisfaction. Questions are asked here. No single one person knows it all. If you isolated yourself for 5 yrs to master the skill to trade and put in 12hrs a day...

it doesn't matter what is written here.
I have never read the book because the reality is different.
why do so many lose their money, there is a reason for it.
wrong time
wrong market
no volume
ready
stay healthy and dream on
Quoting kette
{quote} it doesn't matter what is written here. I have never read the book because the reality is different. why do so many lose their money, there is a reason for it. wrong time wrong market no volume ready stay healthy and dream on
Good!
Grit; Knowledge; Positive Mindset, All you need to overcome. KIS!
I come to this thread from time to time so i can spit out some lessons and tips that i have learnt.

The brutal truth of trading (not just daytrading) is if you are a person who always looks at things subjectively and cannot criticise himself, who never questions his decisions, who makes up excuses for his mistakes rather than actually studying those mistakes and learning from it, you will never be successful in trading.

Being confident and being an egoist are two very different things. Remember, you are nothing but a dust in this market and in the universe. This whole thing is way more bigger than you. Don't turn trading into an ego war, you can't beat the market with your stubbornness, obsessions and beliefs.

So make your plans, calculate the risks and fears, study instead of making up excuses and keep yourself up to date. Don't lose your connection with the reality.

Always be a realist.

When you finish questioning yourself, when you finish making your plans and calculating every risk and outcome, stick to your plan confidently. That's when you will need confidence.

Or let me say it in a more harsh way, your fragile ego doesn't matter and market will crush you if you stand in his way. You don't matter, there's 7 billion people out there, and there's trillions of dollars circulating every single day. World and the market do not care about if you exist or not.

You are always replacable. So follow the world and the market, because it won't follow you.
I make my own luck.
possible hit to the low.
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"TIME AND PRICE IS ALL THERE IS"
low it is then....
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"TIME AND PRICE IS ALL THERE IS"
Quoting HTG
{quote} Dont take this as an attack on you, I can only read this and think where you are mentally. Your statement..."You can earn a wage just with a click in the comfort of your own home"…that’s a big problem and your mentality is nowhere near where you need to be to be trading successfully. Forex is not a comfortable business, in my opinion no successful business is comfortable and you dont want it to be or you will not succeed. Its not a bad thing. Get comfortable being uncomfortable, finding success in anything will...


Quoting HTG
{quote} Dont take this as an attack on you, I can only read this and think where you are mentally. Your statement...

Trading/Investing day in and day out, week over week, month over month and being consistent at it year after year….thats working your ass off and it not easy. If I could leave you with something here, if you are serious about this business or any business re-read what I said above. Dont fall into the trap of the current society leading you to believe the current narrative about "the great resignation"...
Grit; Knowledge; Positive Mindset, All you need to overcome. KIS!
Quoting Nordling
I come to this thread from time to time so i can spit out some lessons and tips that i have learnt. The brutal truth of trading (not just daytrading) is if you are a person who always looks at things subjectively and cannot criticise himself, who never questions his decisions, who makes up excuses for his mistakes rather than actually studying those mistakes and learning from it, you will never be successful in trading. Being confident and being an egoist are two very different things. Remember, you are nothing but a dust in this market and in the...
Useful lesson share.
I Want to be day trader ，But the position is actually held for a very short period of time。
Quoting kette
{quote} the brutal truth is. If you want to drill a hole, you need a real drill. If you want to act properly, you need the right tools and knowledge. praying to god or jesus !!!! will not help you, the stock market is not a church.
.......Praying to God and Jesus will certainly help you...[ in many ways...]

Not only the Stock market , but the WHOLE World is a church.

Kind regards,

Quoting remonpilip
Most traders operate with no idea if their methodology has a statistical edge.
Yes! So what should they do? Should they demo-trade for at least 5 years so that they experience enough bull/bear trends to make sure their method works? Or should they learn algorithms and experiment on historical data? Or should they just not be trading FX in the first place?

This is such an important point. It doesn't matter how 'hard' you work; it doesn't matter if your money management is second to none. If you can't generate profit consistently, you won't make any money.

All that technical analysis can do is show you what you should have done in the past.

This is why the most money to be made in TA is in selling your 'analysis' or your trading courses to other people, not in using it for your own trading (since 99.5% of retail traders lose money and burn out within 5 years).
Quoting kette
{quote} with all friendship Anyone who is afraid should remain a demotrader. Quite simple anyone who can't do it is simply stupid.
every educator knows this is completely wrong
Quoting Ieis5
{quote} every educator knows this is completely wrong

I'm glad you are one.
omg
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Quoting kette
{quote} I'm glad you are one. omg {image}
Quoting f.g
{quote}

i love these free spirits and super demo traders
I think trading a small account for practice is not a bad idea at all. At the end of the day, the most valuable thing we lose is our time. Trading small accounts will sharpen our psychological edge at least. That's my two cents.
educator called and a professional youtube trader ,mentor and the church. success!!!!!!
without fear
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Quoting gepards
ok ok. there is 1 thing i want. here is the deal - I want red diamond well.. i just want it. that's it. people want things... you know.. so make me red diamond (engage needed count of people to follow me) then I will trade 3 months manual with 1 trade per week and no scalping.
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returned here in FF from vacation/traveling and what i see? yes... it is quite red now

thank you all subscribers!!
Quoting RickM
{quote} Day traders don't trade like that, we just aim for profit targets between 0.25% to 0.75%% every trading day. If we can achieve a draw down level less than our total profit level - we are happy. A wage is all a day trader desires - A rich lifestyle for day traders is just a joke we dish up for those long term traders to get a reaction. They can't resist to bite every time I do agree with you on those youtube bullshit artists, just looking for suckers to sell signals or worst.
Well Rick -you are right
https://futures.io/trading-reviews-v...tml#post864292
every Saint has a past. Every Sinner has a Future
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