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Day trading Vs Longer term holding FX

  • #21
  • Aug 31, 2017 12:02am Aug 31, 2017 12:02am
Quoting AlastorFate
I have a related question. Why do most retail traders opt for day trading/scalping instead of swing trading?
The lesser the time that one is exposed in the market, the better. Some will agree and some will disagree. It really depends on what works for you.
  • #22
  • Aug 31, 2017 5:59am Aug 31, 2017 5:59am
Quoting AlastorFate
I have a related question. Why do most retail traders opt for day trading/scalping instead of swing trading?
Because of greed and impatience. I once fell victim to this mentality as well. Everyone wants to get rich quick and have instant gratification. Swing trading takes more time planning. It's not an impulsive method of trading. Also, people realize that you need more capital to make a living swing trader vs day trading (if you want to do it safely anyway).
  • #23
  • Sep 2, 2017 10:01pm Sep 2, 2017 10:01pm
Quoting MoneyZilla
Pete, i can tell you, trust me, during the last four years i have invested over $155k usd so far. In strategy developments. The most hard thing is day trading! This one comes last! And it comes the HARD way. Very few hobby traders, can day trade. These are the top hobby traders. Do not even think to day trade! Weekly/monthly trading is hard enough to learn. Go after it first! In a demo! Never leave the demo, until consistent with weekly/monthly profits. And Pete, leran to flip. Do not use SL! Flip instead! Do not day trade! Not in the next 4-5 years,...
what do you mean my fliping?
  • #24
  • Sep 2, 2017 10:21pm Sep 2, 2017 10:21pm
Quoting AlastorFate
I have a related question. Why do most retail traders opt for day trading/scalping instead of swing trading?
I think it is pretty difficult to control emotions when staring at a huge drawdown. Also, retail traders are suspectible to stop loss hunting.
  • #25
  • Sep 3, 2017 12:21am Sep 3, 2017 12:21am
Quoting cyguy
{quote} what do you mean my fliping?
Quoting IrishPete
{quote} FLIP?
To switch sides. When I have a loser, instead of cutting it off FOREVER, I change its direction.

Forex is a negative sum game. 10 pips SL and 10 pips TP will result in about 50/50 rate. But the spread is like the 0 in the roulette... and it is NOT 50/50 game anymore. Without the spread, it is, but with the spread, it is not.

It is very hard to explain in details and no one will read it anyway.

Simply put, the spread fucks up the 50/50 probability.
Maadik Hugiis. IQ 69.
  • #26
  • Sep 3, 2017 12:44am Sep 3, 2017 12:44am
Quoting Madinvestor
Because of greed and impatience.
The greed and impatience are definitely dangers that stand in plain sight.

Quoting Madinvestor
Swing trading takes more time planning. It's not an impulsive method of trading.
However, I think it takes a lot of self-control and discipline to day-trade. To carify, day-traders aren't all click happy maniacs. More than few? Definitely. But not all. I respect swing trading, and accept its viability. However, I can't help but feel defensive about day-trading. Almost like you just insulted my favorite team or something. Hahaha. I know you mean well. As long as we all trade what works for ourselves.
An eternal student.
  • #27
  • Sep 3, 2017 1:15am Sep 3, 2017 1:15am
Quoting MoneyZilla
{quote} {quote} To switch sides. When I have a loser, instead of cutting it off FOREVER, I change its direction. Forex is a negative sum game. 10 pips SL and 10 pips TP will result in about 50/50 rate. But the spread is like the 0 in the roulette... and it is NOT 50/50 game anymore. Without the spread, it is, but with the spread, it is not. It is very hard to explain in details and no one will read it anyway. Simply put, the spread fucks up the 50/50 probability.
So say you have a loser at 100 pips, so instead of cutting it off forever and add a position toward the other side it kind of puts it in a limbo of 100 pips, so then say for example: you have a short 100 pips, but it rises, so instead of cutting losse you would place a buy order at 100 pips instead. Then when it reaches to what you feel as a peak, close the buy in profit, and wait for the short to descend 100 pips? Kinda like that?
  • #28
  • Sep 3, 2017 8:48am Sep 3, 2017 8:48am
Quoting cyguy
{quote} So say you have a loser at 100 pips...
I close it and open a buy. I call it a basket and never stop trading a basket.

When doing global closure, there might be many baskets with a negative money value. Usually there are x-times more profitable baskets.

The idea is to turn a losing basket into a:

1. Winner
2. Break it even
3. Small loss

Again, i have no idea how to explain it with little words. Everyone can take it from here and come up with something good. Anything would be good.

Closing a trade at a SL and stopping right there, not chasing the rate to recover the loss, is NOT Money Management. The dead now 'dancingphil' described it perfectly as a Loss Management instead and it is good only for the bankers...
Maadik Hugiis. IQ 69.
  • #29
  • Sep 3, 2017 9:46am Sep 3, 2017 9:46am
Quoting MoneyZilla
{quote} I close it and open a buy. I call it a basket and never stop trading a basket. When doing global closure, there might be many baskets with a negative money value. Usually there are x-times more profitable baskets. The idea is to turn a losing basket into a: 1. Winner 2. Break it even 3. Small loss Again, i have no idea how to explain it with little words. Everyone can take it from here and come up with something good. Anything would be good. Closing a trade at a SL and stopping right there, not chasing the rate to recover the loss, is NOT...
That's not going to work. Just trying to help.
  • #30
  • Sep 3, 2017 9:51am Sep 3, 2017 9:51am
Nice topic...
I am trading from five year's things which I observed may be not true is that daily time frame is far better for trade.
I am also experience helpful small t.f but trading with sclaping with hedges..
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -299
  • #31
  • Sep 3, 2017 11:59am Sep 3, 2017 11:59am
Quoting TGS
{quote} That's not going to work. Just trying to help.
It all depends on the strategy in use. My plan B strategies, maybe more than 10 already, come up with a DD below -10%. The annual returns are in the range of +150% to +350%. But I am not happy. I do aim at 100% weekly (plan A), at least 100% weekly...

If i cant make it with plan A, will not die poor for sure. However i hope to die super duper rich, shamelessly rich...
Maadik Hugiis. IQ 69.
  • #32
  • Sep 3, 2017 1:33pm Sep 3, 2017 1:33pm
I believe that we must trade through every way instead of just one part. If we only go with one part then we will not really gain much. But, if we keep our options open and do trading according to the situation then we give our self better chance at gaining and that automatically makes us relaxed. I always decide what technique I need to use depending on the situation, it keeps me comfortable with everything and allows me to enjoy trading.
  • #33
  • Sep 3, 2017 5:06pm Sep 3, 2017 5:06pm
Quoting MoneyZilla
{quote} I close it and open a buy. I call it a basket and never stop trading a basket. When doing global closure, there might be many baskets with a negative money value. Usually there are x-times more profitable baskets. The idea is to turn a losing basket into a: 1. Winner 2. Break it even 3. Small loss Again, i have no idea how to explain it with little words. Everyone can take it from here and come up with something good. Anything would be good. Closing a trade at a SL and stopping right there, not chasing the rate to recover the loss, is NOT...
I would like to know, perhaps you could pm me or start a thread? Im interested what your speaking of. What do you mean by basket? like many entries until you make back your profit? all ears..
  • #34
  • Sep 3, 2017 5:51pm Sep 3, 2017 5:51pm
Quoting IrishPete
Which is better (i.e more profitable and carries "potentially" less risk, or can it be measured?) Interested to hear opinions on this?
Depends. If you don't have your trading system automated, daytrading is VERY hard and is not worth it but if you do have a substantially backtested and PROVEN profitable trading strategy/system programmed to trade automatically with minimal supervision from you, daytrading can be very rewarding. I find there are still volatility that can be explored in shorter time frames PROVIDED you can trade it fast enough.

If you are trading manually, then it's better to trade longer timeframes like days, weeks, months and etc.
Make your losses in demo. Earn your profits live.
  • #35
  • Sep 5, 2017 11:48pm Sep 5, 2017 11:48pm
Quoting cyguy
{quote} I would like to know, perhaps you could pm me or start a thread? Im interested what your speaking of. What do you mean by basket? like many entries until you make back your profit? all ears..
You are flattering me. I cant start a tread, cause nobody really listens. Few guys will. It is worthless.

I do suggest you to carefully think over the idea of examining how exactly the grid strategies gets beaten? I guarantee you there is a mountain of gold behind what you will find for yourself.
Maadik Hugiis. IQ 69.
  • #36
  • Sep 6, 2017 12:13am Sep 6, 2017 12:13am
There are many traders online, and each of them have their own mindsets, but they are all here to have just one think, the title of the professional trader, and thus they use different strategies to find the one which is useful to them as maximum. SO we should never underestimate both of them.
  • #37
  • Sep 6, 2017 12:57am Sep 6, 2017 12:57am
Quoting MoneyZilla
{quote} You are flattering me. I cant start a tread, cause nobody really listens. Few guys will. It is worthless. I do suggest you to carefully think over the idea of examining how exactly the grid strategies gets beaten? I guarantee you there is a mountain of gold behind what you will find for yourself.
I will also listen to the thread, link us up
  • #38
  • Sep 6, 2017 1:45am Sep 6, 2017 1:45am
Quoting MoneyZilla
{quote} You are flattering me. I cant start a tread, cause nobody really listens. Few guys will. It is worthless. I do suggest you to carefully think over the idea of examining how exactly the grid strategies gets beaten? I guarantee you there is a mountain of gold behind what you will find for yourself.
I too would listen. Very interesting prespective.
Forget if majority of people wouldnt read the thread. Majority of people are imbeciles and majority of traders are even worse!

Start a thread!!!
  • #39
  • Sep 6, 2017 3:02am Sep 6, 2017 3:02am
Quoting Piphunter00
{quote} I too would listen. Very interesting prespective. Forget if majority of people wouldnt read the thread. Majority of people are imbeciles and majority of traders are even worse! Start a thread!!!
Quoting IrishPete
{quote} I will also listen to the thread, link us up
You see? I told you! Only few would.

OK. After 15 Sep I will open a tread to show you, at least, how you can use 2-3 popular indicators, at least one is completely full of shit and it does not tell you that right in the face (RSI); one can be really useful and it is actually a very nice one (Daily BreakOut); and the ZigZag indicator, which is quite underestimated one (compared to the big group of piece of shit public indicators), still ZigZag is a crappy thing, but that is the best one can get from the public indicators bank.

That will be my way of saying "thank you" (for nothing), although I never took anything valuable from this place anyway... But because the three of you, including 'cyguy', I will do it. However I will not share why things work that way. I will show you only how to use these 3 indicators, without knowing why exactly you are using them this way. It is like driving a car. You do not have to know how exactly the engine and other parts are working, don't you? Just press pedal to the metal. Quickly go and see the Bright Light we are all afraid off...
Maadik Hugiis. IQ 69.
  • #40
  • Sep 6, 2017 5:03am Sep 6, 2017 5:03am
Quoting MoneyZilla
{quote} {quote} You see? I told you! Only few would. OK. After 15 Sep I will open a tread to show you, at least, how you can use 2-3 popular indicators, at least one is completely full of shit and it does not tell you that right in the face (RSI); one can be really useful and it is actually a very nice one (Daily BreakOut); and the ZigZag indicator, which is quite underestimated one (compared to the big group of piece of shit public indicators), still ZigZag is a crappy thing, but that is the best one can get from the public indicators bank....
That would be great! Cant speak for the others but i myself would never want to be spoonfed any concept ever so that works for me perfectly. Will you also touch more on your hedging methods? I have gone through many of your posts and you seem to understand this better then anyone on this forum, you and another guy with a chicken avatar lol theres maybe one more but may he rest in peace
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