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The brutal truth of day trading

  • #141
  • Edited 12:53pm Apr 2, 2021 11:35am | Edited 12:53pm
Quoting ryuryu
{quote} Hi daydreamer! Let me guess, before that short you was in long right from 1.16 and kept it till 1.23?
Before that short, i was in other fx pairs and crude oil
When i was in Dec. 2020, i checked back EUR i've seen the pair almost reach highest price in TF MN1, so i go lower W1, D1 then make decision to jump in 1.23 [email protected],, After got profit i moved SL, you know it,, That's it, all manually, no indicators, no "magical system", just prices only.
I'm really, really lazy to learn indicators as MACD, EMA ect.. and i don't want to learn much. I keep this symple trading way with me 25 years (since 1995) because it works good for me.
I can do Daytrading(althought i don't want to), i coded my own indicator for Daytrading on MT4,, but most of traders in FF ignored me,, i don't care them i created the system work for me, not for them
BullShit BearShit
  • #142
  • Apr 2, 2021 1:29pm Apr 2, 2021 1:29pm
Here is the tool i made to use for DayTrading

TF H1: every PipLevels is 20pips
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TF <= M15: every PipLevels is 10pips
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Click to Enlarge Name: EurM15.PNG Size: 46 KB

And combine with static price levels,, i always use levels 00-20-50-80-00.
As you see how the market actions.
I don't trade today because US Nonfarm-Payrolls came out,, just watching to study. We called that a KISS system.

Good Luck and Happy Easter to you guys
BullShit BearShit
  • #143
  • Apr 2, 2021 2:07pm Apr 2, 2021 2:07pm
Quoting etrade360
{quote} Yes you're right, martinez,, i cannot make money on day trading because i don't want to look at screen every minute to burn my stupid eyes and stupid brain. So that why i must do stupid way to trade. Here is my stupid Short position @ level 1.23,, I know i'm so stupid still keeping this stupid position recently,, i'm so stupid, i need your advice please. Happy Easter to you. {image}
As long as you make money that's okay bro and meanwhile i never said your stupid. Sorry if your offended by the word STUPID
My wins too and i also do have losses..... Cheers
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THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #144
  • Apr 2, 2021 2:09pm Apr 2, 2021 2:09pm
Quoting Brixen
{quote} Hi Martinez, I would not say stupid, cause every opinion deserves respect if ther's no offence. And yes, someone seems negative, but in the end it's only a personal perspective. It's not only a sparkling & shining world as many try to show, and personally I'm very happy to have found a good job that let me run a whole large family this way. But I've seen, specially last years ansd specially last Covid year, too many coming sure to find the easiest and fast way to make money. I always warned them, cause this job need hard work and mentally...
Thank you bro i understand your explanation, i might have sounded too offensive for using the stupid. Am sorry. Happy Easter
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #145
  • Apr 2, 2021 2:50pm Apr 2, 2021 2:50pm
Quoting martinez1
{quote} As long as you make money that's okay bro and meanwhile i never said your stupid. Sorry if your offended by the word STUPID My wins too and i also do have losses..... Cheers {image}{image}{image}{image}
I'm cool, bro ,, your're good trader too,, btw market close soon Friday,, forget about the market now and enjoy your weekend bro,, with me -> beer, foods, PlayStation games

Have good weekend to all of you guys.
BullShit BearShit
  • #146
  • Apr 2, 2021 2:53pm Apr 2, 2021 2:53pm
Quoting martinez1
{quote} Thank you bro i understand your explanation, i might have sounded too offensive for using the stupid. Am sorry. Happy Easter
I call upon my father's spirit , watching over me
  • #147
  • Apr 2, 2021 3:02pm Apr 2, 2021 3:02pm
Quoting martinez1
My wins too and i also do have losses..... Cheers
Your lot size on the first screenshot is 0.01, you have to paint over the commission column too

If 1 Lot = 5.5$, then 0.08$ = 0.08 * 1 / 5.5 = 0.014
Observer effect
  • #148
  • Apr 2, 2021 3:22pm Apr 2, 2021 3:22pm
Quoting ryuryu
{quote} Your lot size on the first screenshot is 0.01, you have to paint over the commission column too If 1 Lot = 5.5$, then 0.08$ = 0.08 * 1 / 5.5 = 0.014
you're damn spoiler,, leave him alone bro ,, he wins trade anyway
BullShit BearShit
  • #149
  • Apr 3, 2021 3:47am Apr 3, 2021 3:47am
Quoting ryuryu
{quote} Your lot size on the first screenshot is 0.01, you have to paint over the commission column too If 1 Lot = 5.5$, then 0.08$ = 0.08 * 1 / 5.5 = 0.014
Lol bro. Don't mind the naughty me. Cheers and Happy Easter
THE TRUTH IS SIMPLE,ACCEPTING THE SIMPLICITY OF THE TRUTH IS WHAT IS HARD
  • #150
  • Apr 3, 2021 1:23pm Apr 3, 2021 1:23pm
Quoting martinez1
{quote} Lol bro. Don't mind the naughty me. Cheers and Happy Easter
Happy Easter bro

Just a friendly reminder about hiding your real trading activity
Observer effect
  • #151
  • Apr 3, 2021 5:27pm Apr 3, 2021 5:27pm
Quoting ryuryu
{quote} Your lot size on the first screenshot is 0.01, you have to paint over the commission column too If 1 Lot = 5.5$, then 0.08$ = 0.08 * 1 / 5.5 = 0.014

@ryuryu -- you like statistics, here's one for you:

mocks_other_traders = 1 / trading_success
  • #152
  • Edited 7:03pm Apr 3, 2021 6:50pm | Edited 7:03pm
everything is simple
if you dont want learn you wont.


Use to have all support have from Intel ,having processors before they enter
markets,belonging golden inside group..
Using IBM, SUN, Silicon graphcis, SAIC neural network cards.
Doint parralel processing. Months generating millions of trading strategies, in house and propietary
trading startegies, using neural networks and evolutionary based trading agents. Having more of computer calculation power than any of fuckin banks have,.
Having millions of euros supporting my developments, ten years. 20 yrs ago, simmons da.shawn, prediccation company and taking with them. traveling different conferences around the world which are not cheap.
yes you can beat us using mt4.mt5
showing results which are two years where are long periods without profits , or giving profits wont,
are not enough proof me i would invested it. wHAT proud boy joy show. i wont or like mock the results, so far but i wont put my mothers head over it.
Doing short term trading collecting 5-10 pips and scalping, its most profitibale way do for retailers.
If i do scalping , i dont need to think about direction of the price.
The LP's hate us, and they want our sub account numbers from brokers.
Any of mechinical systems are late and cant adapt way how manual scalpers do.
I do same time real account and learning new skills using demo account, because I am preparing
influence of Rick and Profitfarmers teachings, and how brokers and lp's are trying take them out of bussiness.
brutal truth is, have you been party as animal take biggest bangers and party with porn stars, time when tattoos on neck wasnt common, and get respect from them.
I respect profitfarmer, rick, victory and other people. but i hate them same time.
i am not better doing scalp because they are animals.
If you think short or or long time less we have exposure is it better or can controll.
Its good example i gave some hint, italian person put me ignore list, because i heart his mama relation
brutal truth.
is better listen people who do this for living, i have done this 20 yrs,
I rise my hat and will miss people, but i say same time this thread execept of biostatitics who told impoertant messag, please listen.
Sorry i distrupe all this thread , it wont happend anymore.

bruthal truth.
  • #153
  • Apr 3, 2021 8:11pm Apr 3, 2021 8:11pm
Quoting robots4me
{quote} @TimeTells -- one of the best posts ever!! Thank you, Pete...
Hi robots! I thought you quit us. Glad you still hanging around. I think the brutal truth is that people do not understand what they are trading, for example the mean and median range of the instrument of choice with a kurtosis and skew of near zero to ensure the elimination of fat tails. Because they don't know what to expect, they usually place their stops too tight, and get taken out. That is my opinion of course, everyone's mileage may vary.
If you are good at something, never do it for free--Joker
  • #154
  • Apr 3, 2021 8:33pm Apr 3, 2021 8:33pm
Quoting jmn5611
{quote} Hi robots! I thought you quit us. Glad you still hanging around. I think the brutal truth is that people do not understand what they are trading, for example the mean and median range of the instrument of choice with a kurtosis and skew of near zero to ensure the elimination of fat tails. Because they don't know what to expect, they usually place their stops too tight, and get taken out. That is my opinion of course, everyone's mileage may vary.
Hi jmn5611

I think the brutal truth is profitable traders get their entry correct within a few pips and don't factor in their stop loss ever getting hit, their stop is just for emergency reasons.
If they haven't taken profit, their exit is performed the moment they realize their first entry was incorrect - they get out fast.
Unprofitable traders worry about their stop getting hit so fuss over where it should be placed - without considering their entry was just WRONG and failing to act accordingly.

Cheers
Trading thin liquidity at the boundary of the charts
  • #155
  • Apr 3, 2021 11:16pm Apr 3, 2021 11:16pm
Quoting RickM
{quote} Hi jmn5611 I think the brutal truth is profitable traders get their entry correct within a few pips and don't factor in their stop loss ever getting hit, their stop is just for emergency reasons. If they haven't taken profit, their exit is performed the moment they realize their first entry was incorrect - they get out fast. Unprofitable traders worry about their stop getting hit so fuss over where it should be placed - without considering their entry was just WRONG and failing to act accordingly. Cheers
I agree, a disaster stop should almost never be hit. I think people have trouble knowing when they are wrong, and then acting on it. Cutting winners early and letting losses run is probably the most classic error a day trader can make.
If you are good at something, never do it for free--Joker
  • #156
  • Apr 4, 2021 1:01am Apr 4, 2021 1:01am
Over six years of trading. most people are unable to put in the work, the study the diligence to succeed long term
Love to talk on Discord: DividendGamer#1324
  • #157
  • Apr 4, 2021 3:16am Apr 4, 2021 3:16am
Quoting RickM
{quote} Hi jmn5611 I think the brutal truth is profitable traders get their entry correct within a few pips and don't factor in their stop loss ever getting hit, their stop is just for emergency reasons. If they haven't taken profit, their exit is performed the moment they realize their first entry was incorrect - they get out fast. Unprofitable traders worry about their stop getting hit so fuss over where it should be placed - without considering their entry was just WRONG and failing to act accordingly. Cheers
How many pips needed to consider entry is wrong? Few pips is how much? 2 or 3? When they realise wrong entry how fast they get out - is speed based on time or pips?
  • #158
  • Apr 4, 2021 6:04am Apr 4, 2021 6:04am
Quoting joyny
{quote} How many pips needed to consider entry is wrong? Few pips is how much? 2 or 3? When they realise wrong entry how fast they get out - is speed based on time or pips?
Wrong can be looked at two ways.

The Setup is correct but entry was premature in execution - Cut at 10% of daily ADR
The setup is incorrect and price is moving away from entry position - Cut at 5% of daily ADR

Time is another factor as well, I use a 10 bar limit to get my profit or it gets cut without fail.
Trading thin liquidity at the boundary of the charts
  • #159
  • Apr 4, 2021 10:44am Apr 4, 2021 10:44am
I think that one of the major mistakes made by people day trading, is believing that just because they are in front of the computer they have to trade. One of the crucial parts of day trading is learning that if the charts look crappy walk away. I look to trade tues. thru thurs.
I still take a look mon and fri. because there's almost always a day I just won't trade because I don't like how charts look.
I look for particular visuals on charts that show the type of PA I prefer to trade, if I don't see it, I walk away.

As far as stops, I rarely ever have them hit, because I'll get out first, take a small loss. Plus a big believer in moving stops to B/E once I'm halfway to TP. Time also a factor with me, agree with RickM if after 10-12 candles its going nowhere I'll start looking for exit.
  • #160
  • Apr 4, 2021 11:13am Apr 4, 2021 11:13am
Quoting ryuryu
{quote} If you trade with EA, then 1. You don't need to understand of your psyche 2. MM already built-in 3. PA, TA, structure etc are already here 4. 5. You can execute 1m or less. I'm just curious how in 2021 people still believe in manual trading.

Because people are able to make better trades with their skill, experience, knowledge etc by placing manual trades.
Love to talk on Discord: DividendGamer#1324
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