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The brutal truth of day trading

  • #561
  • May 3, 2021 2:07am May 3, 2021 2:07am
Quoting Mingary
You can't really make a good guess about price direction if you can't see what is happening to the price activity at some level .. Especially when it spins and churns in a very narrow range. This is an old picture because I moved to stocks (better for what I do) and I don't use MT4 anymore {image}


In certain contexts I concur, however, what I'm seeing with people these days is more similar to 'hope and prey' rather than hunting. If most of what needs to be done, cannot and is not being done in one's head, then one is over-dependent on externals and has no fail safe. Interesting chart by the way.


Peter
Real Trading is not gambling.
  • #562
  • May 3, 2021 7:42am May 3, 2021 7:42am
Quoting PeterCaleb
As an open-close style day trader, you have two choices - fast drip or slow drip. I say drip because in comparison to a 300 point break or high vol momentum move, what you're going to get intraday is curling iron swings and putt putt shots. So as a daytime trader, you need to think in these terms so you don't get lost in all this intellectualizing. For me, I use a simple formula ..... Price level : time spent : type of movement : Bid/Ask Push : points available. All the lines and channels and indicators and data and so on, is pretty but it does...
Quote
You have to think like a person who thinks. And stop letting the "trading stuff" do your thinking.
Can you explain this in more detail?

Quote
If you do not trade in the future, then you are going to always 'wonder' where the move will go.
I'm having a problem exiting my trades. :|
A trade should be based on an assumption based on facts
  • #563
  • May 3, 2021 8:53am May 3, 2021 8:53am
You can explain everything yourself!
Just take a screenshot and draw a lot of random lines. And you will see that price hit some of them.
Then return here and start to post with serious face. You should use words "simple", "study", "learn", "think". It will be better if you will post for example 5-7 posts one after one. Imagine that you are successful, that you KNOW the truth.
Observer effect
  • #564
  • May 3, 2021 9:01am May 3, 2021 9:01am
Quoting ryuryu
You can explain everything yourself! Just take a screenshot and draw a lot of random lines. And you will see that price hit some of them. Then return here and start to post with serious face. You should use words "simple", "study", "learn", "think". It will be better if you will post for example 5-7 posts one after one. Imagine that you are successful, that you KNOW the truth.
Visualization is a strong tool but what's the point?
A trade should be based on an assumption based on facts
  • #565
  • May 3, 2021 7:15pm May 3, 2021 7:15pm
maverick2017,

If you want to learn how to trade properly, you need to work out what you can do yourself. I won't just give you answers because you won't learn doing it that way. If you follow what ryuryu says, then you will end up just like him/her - a troglodyte. The question is what do YOU make of it ? List as many different interpretations as you can. And ryuryu was merely trying to taunt someone other than you here when talking about drawing lines and taking a screenshot. People like that obviously weren't loved too much as a child. Out of ALL the things that a person could say here, that person decided to say that. It says a lot about many things.

Anyway I hope that helps.

Peter
Real Trading is not gambling.
  • #566
  • May 3, 2021 8:49pm May 3, 2021 8:49pm
Quoting PeterCaleb
maverick2017, If you want to learn how to trade properly, you need to work out what you can do yourself. I won't just give you answers because you won't learn doing it that way. If you follow what ryuryu says, then you will end up just like him/her - a troglodyte. The question is what do YOU make of it ? List as many different interpretations as you can. And ryuryu was merely trying to taunt someone other than you here when talking about drawing lines and taking a screenshot. People like that obviously weren't loved too much as a child. Out of ALL...
Wasn’t loved as a child


Peter, you have no idea about other peoples life’s and issues they may have faced as a child. My best friend was abused by his father and abandoned as a teenager and left to live on the streets.
Just keep your smug little opinions to yourself and just focus on trading discussions.

I would challenge you to live 24 hours in the shoes of some homeless person who probably lives in your suburb, then look in the mirror at yourself and ask where your humanity has gone.
Trading thin liquidity at the boundary of the charts
  • #567
  • Edited May 4, 2021 6:22pm May 3, 2021 9:33pm | Edited May 4, 2021 6:22pm
The brutal truth about trading is that no one is actually making any money, so they spend their days trying to piss each other off over the Internet.
Libertad y Orden
  • #568
  • May 3, 2021 9:36pm May 3, 2021 9:36pm
Quoting RickM
{quote} Wasn’t loved as a child Peter, you have no idea about other peoples life’s and issues they may have faced as a child. My best friend was abused by his father and abandoned as a teenager and left to live on the streets. Just keep your smug little opinions to yourself and just focus on trading discussions. I would challenge you to live 24 hours in the shoes of some homeless person who probably lives in your suburb, then look in the mirror at yourself and ask where your humanity has gone.


Grow up Rick. You're blowing it out of proportion and taking it out of context.


Peter
Real Trading is not gambling.
  • #569
  • May 3, 2021 10:29pm May 3, 2021 10:29pm
Quote
If you want to learn how to trade properly, you need to work out what you can do yourself. I won't just give you answers because you won't learn doing it that way.
Come on! Take the high road and try once. If you cannot give direct answers then atleast light a candle for me.

ryu is right in his own way and I totally understand what he has said. Did he taunt anyone? I do not know.
A trade should be based on an assumption based on facts
  • #570
  • May 3, 2021 10:37pm May 3, 2021 10:37pm
Quoting Kolumbianer
The brutal truth about trading is that no one is actually making any money, so they spend their days trying to piss each other off on online forums.
No you are wrong.

There are plenty making money but very few here on Forex Factory are making enough to live off.

Well OK, Digger made 20 million dollars a few days back between milking his cows and feeding his chooks before tea but that’s rare.

Apparently farmers have skills they use behind their hay bales.
Trading thin liquidity at the boundary of the charts
  • #571
  • May 3, 2021 10:41pm May 3, 2021 10:41pm
Quote
There are plenty making money
Connect me with a couple of them so I can exchange ideas.
A trade should be based on an assumption based on facts
  • #572
  • May 3, 2021 10:58pm May 3, 2021 10:58pm
Quoting PeterCaleb
{quote} Grow up Rick. You're blowing it out of proportion and taking it out of context. Peter
You referred to ryuryu not bing loved as a child.

You have obviously been out of the work force for a long time, it’s not acceptable these days to make personal comments like that here where some of us work.
Trading thin liquidity at the boundary of the charts
  • #573
  • May 3, 2021 11:43pm May 3, 2021 11:43pm
Quoting RickM
{quote} You referred to ryuryu not bing loved as a child. You have obviously been out of the work force for a long time, it’s not acceptable these days to make personal comments like that here where some of us work.


When you get to a certain age, you realize certain things are constant and other things are self repeating. Political correctness is a farce and doesn't civilize people, no matter how big people's 'wish list' is in real life. It's simply made people hypersensitive and over-reactive and carry a soft underbelly. You don't need any training in Psychology or Psychiatry to know that, just open your eyes and observe for long enough.

I have plenty of empathy and compassion. Plenty. I just DON'T routinely or habitually make excuses and make up justifications for basic immaturity and laziness. I don't see that I have "high and mighty standards". No. What I see is that most people's personal standards have devolved and they just don't like someone who is not like them..... for whatever reason.

Nobody made ryu say what they did Rick. Nobody.

@ maverick2017 ...

If you don't think I have already given away A LOT, then you need to seek another person's help.


Peter
Real Trading is not gambling.
  • #574
  • May 4, 2021 12:41am May 4, 2021 12:41am
Quote
@ maverick2017 ...
Quote

If you don't think I have already given away A LOT, then you need to seek another person's help.


DO you think that I think you have given away a lot?
^^is this how we need to think.

what is the trading stuff that you have mentioned in that post.
A trade should be based on an assumption based on facts
  • #575
  • May 4, 2021 7:59am May 4, 2021 7:59am
Quoting gepards
{quote} Would like to join the challenge with my humble EA which opens only ~14 BUY deals per year on Microsoft stock. I will put 100 USD on it and show results in myfxbook. {image} {image}
Folks... open an account with base currency ETH and trade BUY only Microsoft dips. This worked for me - in 2 months >320% profit so far. Here myfxbook results.

ETH will explode in +/-2 years when people will move away from BTC (because of co2 footprint issues).
  • #576
  • May 4, 2021 12:07pm May 4, 2021 12:07pm
Quoting triphop
{quote} I bet you can too Well op you can have this for free too. This place is exhausting because you've three camps - those that say it can't be done, those that say nothing exists, those that'll bamboozle you with maths way above your paygrade to make you think you're probably too dumb to get it. So to the odd outlier who's really trying to crack this, let me spell this out in all the noise. You can't trade unless you have concrete structure in place. Not a trading plan. A structure of the market. Your plan is based around the structure....
I agree. If you don't measure you can see just about anything you want to in a chart simply be changing time frames and scaling axis. When you start to measure things, in my experience the bigger picture starts to fall into place. If I had to chose one single indicator it would be the Average True Range(ATR). I use it to measure various important properties of markets. My motto for many years has been "Don't Guess- Test"
Don't Guess Test
  • #577
  • May 4, 2021 5:46pm May 4, 2021 5:46pm
Quoting maverick2017
{quote} DO you think that I think you have given away a lot? ^^is this how we need to think. what is the trading stuff that you have mentioned in that post.


Not just in that post, no. In total. Overall.


Peter
Real Trading is not gambling.
  • #578
  • May 4, 2021 5:50pm May 4, 2021 5:50pm
It is, figuratively and literally, impossible, to stay the same way you are AND to learn something new. So part of the point of having a go at day trading is to bend your will to learning, not just "getting" something. Learn for the sake of learning and learning to trade will be faster, smoother and more beneficial.

Peter
Real Trading is not gambling.
  • #579
  • May 4, 2021 6:01pm May 4, 2021 6:01pm
Quoting PeterCaleb
{quote} Not just in that post, no. In total. Overall. Peter
Bad font man.
A trade should be based on an assumption based on facts
  • #580
  • May 4, 2021 6:22pm May 4, 2021 6:22pm
Quoting PeterCaleb
{quote} Not just in that post, no. In total. Overall. Peter
Peter

I have no doubt you have placed some good posts on Forex factory (I like 3 posts).
I just believe most readers only want to focus about 30 seconds of their time on any post as no one wants to spend / waste more time because of fear.

They fear wasting their time on a post that turns out to be garbage.
Some of your posts would take 5 minutes or more to get that WTFWTA

What The F... Was That About
Trading thin liquidity at the boundary of the charts
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