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The brutal truth of day trading

  • #621
  • May 6, 2021 9:49pm May 6, 2021 9:49pm
Quoting RickM
{quote} Peter I offered you the chance to trade with me to show you have I can trade against the small institutional traders and beat them at their own game. By waiting until they get cornered at the edge of thin liquidity cluster. But no you didn’t have the guts - just another retired guru who trades demo and thinks they know it all. Peter, I trade in what I believe and win every single night. If you want proof, get off your high horse and show some courage and meet me in the CAVE. I bet you will make some excuse like all the other experts here...


Rick,

To be perfectly frank with you here, I wouldn't waste a bucket of piss on people like you. The docile fools who think like you is why so many "follow" and can't think for themself. So stop embarrassing yourself.

Peter
Real Trading is not gambling.
  • #622
  • May 6, 2021 10:10pm May 6, 2021 10:10pm
Quoting PeterCaleb
{quote} Rick, To be perfectly frank with you here, I wouldn't waste a bucket of piss on people like you. The docile fools who think like you is why so many "follow" and can't think for themself. So stop embarrassing yourself. Peter
Peter

You do realise people are laughing at you behind your back.

I actually feel sorry for you so please PM me if you need any support with your trading.

Can I give you a little tip, calm down and take some big breaths before you place your next post.

Yours sincerely- your pal Rick
Trading thin liquidity at the boundary of the charts
  • #623
  • May 6, 2021 10:20pm May 6, 2021 10:20pm
Quoting RickM
{quote} Peter You do realise people are laughing at you behind your back.
In all honesty, not behind his back. How about in his face.

RiskM, you are a good guy. I am glad our paths have crossed, and my apologies for past differences. Good trading and best wishes. Looking forward to the next time our paths cross.

As for this thread, seems it's run into the ditch with all 4 wheels. You guys sort it out. Good trading all!
  • #624
  • May 6, 2021 10:33pm May 6, 2021 10:33pm
Quoting RickM
{quote} Peter You do realise people are laughing at you behind your back. I actually feel sorry for you so please PM me if you need any support with your trading. Can I give you a little tip, calm down and take some big breaths before you place your next post. Yours sincerely- your pal Rick


The only people who would smear their thinking with your way of seeing things, are those who WOULD be laughing at me. The funny thing is, as I've said many times before, what I say towards you is through you. It's not 'to you' or 'for you'. It's to put in print the types of things that many people think while they go through different information and go through the threads. A dickhead is a dickhead. The people who align with wanting to learn don't need to side with you, suck up to you, don't EVEN need to communicate with you. Not even join this ridiculous site. They just come, observe, make notes, learn and leave. So while you and your idiot friends are waving your dicks around, others are learning and getting on with their lives instead of having to suck at your teat. So how stupid do you now feel, knowing that the rest of the world is just using you to learn and do better than you are?

Fools like FXSniper111 who "stared ignoring me". Oh my!! What shall I do? I can't go on living. Bloody idiot.

The problem for people like you Rick, is you live in your little bubble. While others have ACTUALLY lived and learned some things.

Tell me, please, why did it take you 18 odd years to come up with a legitimately profitable strategy?

Yeah uuum ok ..... I'M the one who is full of crap. Yeah OK.

What's even MORE hilarious is people like you want your name in people's mouths and minds. Whereas, for me, I don't mind if they learn from or through me and never think about me ever again.

What's the difference? One person learns while the other has to assume the position on their knees with open mouth.

So WHY would I care about trading or learning to trade re: you, deary ??


Peter
Real Trading is not gambling.
  • #625
  • May 7, 2021 1:41am May 7, 2021 1:41am
oh dear...seems like someone took their angry pills when they woke up this morning. Cheer up Peter
  • #626
  • May 7, 2021 3:26am May 7, 2021 3:26am
Quoting remonpilip
source: https://www.quora.com/How-realistic-...-full-time-job Day trading reeks of impatience. In my opinion, there are several attributes to an unsuccessful trader and these are some of them; greed, desire for action, and fear of missing a profit. What do they have in common? Impatience. I think day trading appeals to people that want to make the quick score. They want to buy a system and immediately be on the road to riches. You will find this is not the case. In futures trading, patience is...
What will be if you buy gold ten years ago, haha
  • #627
  • May 7, 2021 3:56am May 7, 2021 3:56am
Quoting PeterCaleb
Whereas, for me, I don't mind if they learn from or through me and never think about me ever again.
Learn what? How to draw random lines on the charts? Or how to call names? What exactly people learn from you? Unlike you, RickM explains his approach to trading in a balanced way, explaining why and how it works. And you are just talking about some magic stuff like "you have to learn", "you will see", "feel the market" and other bullshit. That's why people add you to ignore list. Because there are zero useful information from you. Zero. Think about it.
Observer effect
  • #628
  • Edited 5:12am May 7, 2021 4:57am | Edited 5:12am
Quoting TraderTim125
{quote} ???? All those unexplained acronyms. Maybe it is Forex Factory Forum Jargon (FFFJ) but I have been trading various financial markets for well over thirty years and I have No Idea Of What You Are Talking About (NIOWYATA). I am however interested in what you appear to be trying to communicate.
E$ - EurUsd
GA - GbpAud
ST - Short Term
LT - Long Term
PA - Price Action
TA - Technical Analysis
FA - Fundamental Analysis
NFP - Non Farm Payroll
It never gets easier, you just get better
  • #629
  • May 7, 2021 5:03am May 7, 2021 5:03am
Here's the difference ryu ...

While all the selfish scabs (presumably people like you and others) are floating around online trying to leech whatever little "information nuggets" you can find, others have figured out that if your brain doesn't work properly then it wouldn't matter if you were given a million dollar strategy, or learn from Rick or someone else, you still wouldn't be able to run it without the plug-ins. You haven't dealt with your issues and so it would be wasted on someone who has not matured. THAT is the whole issue here.

I don't expect people like you to appreciate what I am saying because you have already decided you know better.

And so, it's useless to YOU. But I have many, many messages from people who have bothered to pull their head out of their ass and realized just how foolish most people are about trading AND have become more productive in their own trading by actually learning. Your money is not protected, you have an inflated confidence in what you think you can do with what you know. And it's the same with most people around.

So truthfully, thank you for your response, but who really cares about an opinion. Keep that safe for when you pick your ice cream at the shops.

Welcome to 2021 where stupidity and foundationless thinking runs rampant.

So while fools chase information, the people that will learn a real skill set will always do better than you people because you cheapen the whole experience of trading and learning.

I'll choose success and wisdom over small dick syndrome any day, thanks.

Ciao

Peter
Real Trading is not gambling.
  • #630
  • May 7, 2021 7:49am May 7, 2021 7:49am
This thread has moved brutally away from the topic that is day trading and I still have questions...
A trade should be based on an assumption based on facts
  • #631
  • May 7, 2021 8:29am May 7, 2021 8:29am
One thing what has made me smile and enjoy reading this thread, so many people has come out from closet, and told they have financial markets background. It has help to understand more they post,somehow.

But this dickhead,dick waving,small dick things not.
Small Brick , Big Brick syndrome,can also mean different for are you talking to males or females or between.

Now I think australians dont know how to swear and put weight for words. and I blame for that you Peter.

Rick is not my buddy , but i have seen his trading and i also have seen his mild temper i havent seen he get mad about things, and not want see when he got enough.

Rick has given lot of valuable information for this forum. and personally i dont like it. but what i can do, because cant send him traditional scandinavian stinking rotten fish food. Because of tough border laws.

Peter Jump to traders cave and look whats happening, you could be good buddies, and have fun time.
I was there last year and it looks awesome. But Its disturbe my trading so i wont hang there, because when i send my entries realtime there, i miss some of entries or be several pips late because of writing them just before i press entry button and my profits hurts.
  • #632
  • May 7, 2021 8:52am May 7, 2021 8:52am
Someone say something about day trading. PLEASE!!

Like what leads to good trading decisions. Is it planning or flexibility or something else.
A trade should be based on an assumption based on facts
  • #633
  • May 7, 2021 8:55am May 7, 2021 8:55am
Quoting maverick2017
Someone say something about day trading. PLEASE!! Like what leads to good trading decisions. Is it planning or flexibility or something else.
You just wrote some of them.
  • #634
  • May 7, 2021 9:00am May 7, 2021 9:00am
Quoting kk100
{quote} You just wrote some of them.
There is also a something else part because when I'm in a trade then both flexibility and planning takes a back seat. I simply do not know how to exit. I mean that I can see that market will move against me, but I can't exit. Kind of a paralysis.
A trade should be based on an assumption based on facts
  • #635
  • Edited 9:33am May 7, 2021 9:21am | Edited 9:33am
Quoting maverick2017
{quote} There is also a something else part because when I'm in a trade then both flexibility and planning takes a back seat. I simply do not know how to exit. I mean that I can see that market will move against me, but I can't exit. Kind of a paralysis.
About flexibility, i dont mind which directions price is going, second flexibility is I often or most of the time scale in. Depends how I see where the price is and how far it can go in extreme move. Third flexibility is if i see i have been wrong, i start trading same pair or other pairs and waiting good re-entry. How to do this is coming your personal preference and time.

I am not using delta or footprint for trading currently because want change location with small laptop with one screen. Thats the way get much more better accuracy for entries, i done it with ES,YM futures which gave me huge returns, and burn out. but has been using Market Delta,GOM's ninja tools and i can be somewhere near because of reading charts so long time.

Have to correct this, charts is easier presentation of numbers for me, cant remember numbers well. So charts does not mean nothing for me.
  • #636
  • May 7, 2021 9:31am May 7, 2021 9:31am
Quoting maverick2017
{quote} There is also a something else part because when I'm in a trade then both flexibility and planning takes a back seat. I simply do not know how to exit. I mean that I can see that market will move against me, but I can't exit. Kind of a paralysis.
Hi Maverick

I wrote a lot of EA's a few years ago that tested different exit strategy's for standard price action setups. An example was say a Engulfing candle price action setup where I would enter on the close of that candle. I tried various exit strategy's like simple moving average exit, 2 bar invalid exit, set take profit, trailing stop, risk reward exit, trendline exit, etc. etc.

I tried about 25 exit plans to nut out what strategy seemed to work best on about 8 of my trading strategy's that were running in my EA's.
There was a clear winner and a clear loser.

The trailing stop was the worst on most strategy's
The best exit strategy for my EA's generally seemed to be "Set take profit" with the profit distance appearing to be 3 times current ATR.
Therefore I recommend you test a strategy that takes small profits depended on the time frame you are trading.

Most traders want to let a setup run as long as possible, the data speaks loud and clear that small take profit ends up with higher profits by the end of the month.


Interesting I recommend you build a strategy from the back end.
That's find a exit strategy you like then develop a entry strategy that fits like a glove - if it doesn't you better look for better different gloves.

My two cents worth
Trading thin liquidity at the boundary of the charts
  • #637
  • May 7, 2021 9:32am May 7, 2021 9:32am
Quote
I often or most of the time scale in

How do you use stop loss then?

Do you always have a target before opening a trade? Does this work for you? If yes, then how much time did it take before you could do it on every trade you take.

What is delta?
A trade should be based on an assumption based on facts
  • #638
  • May 7, 2021 9:37am May 7, 2021 9:37am
Quote
Interesting I recommend you build a strategy from the back end.
That's find a exit strategy you like then develop a entry strategy that fits like a glove

Where should I start?

3 times of ATR is a ridiculously big target!!
A trade should be based on an assumption based on facts
  • #639
  • May 7, 2021 9:42am May 7, 2021 9:42am
Quoting RickM
{quote} Hi Maverick I wrote a lot of EA's a few years ago that tested different exit strategy's for standard price action setups. An example was say a Engulfing candle price action setup where I would enter on the close of that candle. I tried various exit strategy's like simple moving average exit, 2 bar invalid exit, set take profit, trailing stop, risk reward exit, trendline exit, etc. etc. I tried about 25 exit plans to nut out what strategy seemed to work best on about 8 of my trading strategy's that were running in my EA's. There was a clear...
Can you point out the flaw in my thought process?
A trade should be based on an assumption based on facts
  • #640
  • May 7, 2021 10:07am May 7, 2021 10:07am
Quoting maverick2017
{quote} Where should I start? 3 times of ATR is a ridiculously big target!!
EU ATR on 1m TF is 25 points, so x3 is 75. Not so big.
Observer effect
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