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The brutal truth of day trading

  • #1,961
  • Jul 16, 2021 9:12pm Jul 16, 2021 9:12pm
Quoting BWilliam
{quote} From the chart I posted I can only see one trading opportunity this week. It's beyond me how to see more than one trading opportunity. Perhaps those who see many trading opportunities explain how they do that with chart examples.

  1. Jul 14, 10:17pm (47 hr ago)

BUY GBPUSD 1.38258
Take profit 1.38630
Stop Loss 1.38190

against the strong downtrend

  • #1,962
  • Jul 16, 2021 9:23pm Jul 16, 2021 9:23pm
Quoting mixedbags
{quote} Jul 14, 10:17pm (47 hr ago) BUY GBPUSD 1.38258 Take profit 1.38630 Stop Loss 1.38190 against the strong downtrend
Watch for a buy price action at 1.3710 or 1.3750 till 1.3850
It looks to me this i can be wrong,

in between price will give numerous opportunities as it prints the price only then we can decide.
"Exchange of hands"
  • #1,963
  • Jul 16, 2021 9:30pm Jul 16, 2021 9:30pm
Quoting bilal1947
{quote} Na thats how he behaves normally. Nothing unusual. The other day he gets excited by listening the word imbalance on a candlestick chart and he thinking in his mind oh its me who trade volume imbalance though Scherzi didnt even use that word Volume in his post. Yet he making himself laugh how stupid scherzi is though it looks the otherway round. This will only harm him in long run as when one feels his glass is full and he knows everything and he missed to learn new things.
Hi bilal

No

He is a raw talent that can see things on a chart most here on forex factory can't see.
He would lose his trading edge if he changed his personality, his determined and opinionated mindset makes him a really good trader.

He is" ryuryu" and it reminds me (just as Bluesteele said) of myself a few years back.
I hope ryuryu keeps getting stuck into any post he feels deserves it - just not anyone on my buddies list.

ryuryu give them shit LOL
Trading thin liquidity at the boundary of the charts
  • #1,964
  • Jul 16, 2021 9:30pm Jul 16, 2021 9:30pm
Quoting mixedbags
{quote} Jul 14, 10:17pm (47 hr ago) BUY GBPUSD 1.38258 Take profit 1.38630 Stop Loss 1.38190 against the strong downtrend
Nice trade.
Your trade is intraday. That's once a day.

My H1 chart is intraweek. Once a week.

Only few times there may be more than one a pair.
Attached Image (click to enlarge)
Click to Enlarge Name: gum15.PNG Size: 43 KB
Know what you trade
  • #1,965
  • Edited 9:49pm Jul 16, 2021 9:38pm | Edited 9:49pm
Quoting RickM
{quote} Hi bilal No He is a raw talent that can see things on a chart most here on forex factory can't see. He would lose his trading edge if he changed his personality, his determined and opinionated mindset makes him a really good trader. He is" ryuryu" and it reminds me (just as Bluesteele said) of myself a few years back. I hope ryuryu keeps getting stuck into any post he feels deserves it - just not anyone on my buddies list. ryuryu give them shit LOL
I cannot deny you Rick and your experience, ryuryu is giving what he has be it what you said.

I wish he shares something valuables like you and one can be deteminated, aggressive but taking unnecessary arguments with zero knowledge on the topic is not determination sorry.

My point is not to disrepect anyone i wish ryu good health lots of wealth and happiness and peace at heart, we learn from each other either good or bad take what good each of us have and move on.

Cheers
"Exchange of hands"
  • #1,966
  • Jul 16, 2021 9:44pm Jul 16, 2021 9:44pm
Quoting BWilliam
{quote} Hi Ihlas, when you asked that question I don't know if the master algo will move price up to those levels or not yet. I drew those demarcation zones last Friday. Price just bounce between those zones of 110 pips. It did not come near target1. By Wednesday, it became clearer the algo won't move price higher. That's why i made this post. Anything near 1.3900 is overvalued giving the once a week trading opportunity. The algo moved price past the demarcation zone in the last 6 hours Friday. https://www.forexfactory.com/thread/...1#post13625641...
Hi BWilliam,
Thank you for you time. Good to know trading ideas coincide. I also realised that it won't go up to target1 on Wednesday. (Something happened after the news pushed it up and down and later I figured out it) LOL. Great.
For Monday Demarcation zone is in the pocket
Have a good weekend
Regards,
Ihlas
  • #1,967
  • Jul 16, 2021 9:47pm Jul 16, 2021 9:47pm
Quoting mixedbags
{quote} Jul 14, 10:17pm (47 hr ago) BUY GBPUSD 1.38258 Take profit 1.38630 Stop Loss 1.38190 against the strong downtrend
Please let me know what broker that allows 400 lots on any market?

Are we suppose to take this seriously?
Trading thin liquidity at the boundary of the charts
  • #1,968
  • Jul 16, 2021 9:55pm Jul 16, 2021 9:55pm
Quoting BWilliam
{quote} From the chart I posted I can only see one trading opportunity this week. It's beyond me how to see more than one trading opportunity. Perhaps those who see many trading opportunities explain how they do that with chart examples.
How many do you want to see
Attached Image (click to enlarge)
Click to Enlarge Name: Gold stop sat.png Size: 250 KB
Trading thin liquidity at the boundary of the charts
  • #1,969
  • Jul 16, 2021 9:57pm Jul 16, 2021 9:57pm
Quoting RickM
{quote} Hi riclater I may get just 20% of my risk but I earn it in normally 5 minutes. So if I can do that 10 times a day for a year, thats 150% return in a year in increased equity. Where else in the financial world can you ever hope to receive 150% return in a year. Whats the bank offering now, 4% return a year?. For the record, I don’t get anywhere near 150% return a year as I am human and stuff up a few days or too, stuff up the odd week or two. But if we a honest about the difficulties of trading, we have to accept that a return a month of...
Hey RickM,

You do understand I am not trying to slight you or go against you. No need to defend yourself. I was stating that you are under estimating yourself. You are doing good. I mentioned before that I have more than a few colleagues and friends you day trade/scalp and do well, after all it is the most popular way to trade for non-pros.

By the way, banks, at least in the States, are offering a fabulous 0.50%. A cool $500 a year before taxes. I can quadruple that without trying with some dividend paying ETFS.

Anyways. Keep up the good work.

- Ric
Be humble or get humbled
  • #1,970
  • Jul 16, 2021 9:59pm Jul 16, 2021 9:59pm
I know that I know nothing
Socrates
  • #1,971
  • Jul 16, 2021 10:01pm Jul 16, 2021 10:01pm
Quoting RickM
{quote} How many do you want to see {image}
50 entry/exit pics for last Friday 16 July.

Quoting riclater211
I mentioned before that I have more than a few colleagues and friends you day trade/scalp and do well, after all it is the most popular way to trade for non-pros.
Careful with your words Ric. It may cause WW3.
Lets put it as you and I don't have the raw natural talent.
Know what you trade
  • #1,972
  • Jul 16, 2021 10:10pm Jul 16, 2021 10:10pm
Quoting BWilliam
{quote} Nice trade. Your trade is intraday. That's once a day. My H1 chart is intraweek. Once a week. Only few times there may be more than one a pair. {image}
I do take note of that MTF settings. But in 1 day there should be more than 10 trades if we look at all the charts. BUT I don't I only look at US30, GBPUSD, and AUDJPY (this for buy only). If we wake up at 4.30 am and placed a trade we can have a happy big breakfast. TIME and PRICE.

Quoting BWilliam
{quote} 50 entry/exit pics for last Friday 16 July. {quote} Careful with your words Ric. It may cause WW3. Lets put it as you and I don't have the raw natural talent.
btw over there many were asking him how he trade - about 450 images just do some homework, it is crystal clear, a window into a trader strategy. Maybe he might not post any more image of his entries.
  • #1,973
  • Jul 16, 2021 10:22pm Jul 16, 2021 10:22pm
Quoting BWilliam
The topic of the thread is brutal truth about day trading. I read a lot about what other people write. It gave me a chance to understand how they think about Forex trading. The purpose of Forum is to find out if there're new things to learn. Tbh there are specific things I learn about from this forum that I benefit from. I wouldn't have learnt if not for this forum. Not just about Forex trading. Most of what I learn don't come from forum. Not sure if someone else find what I wrote useful. Now I know some people think it belong to the trash bin....
Hey BW,

Very well said. I think it is also hard to convey what we are saying since it is in text form. No tone or facial expressions. Mix that with ego and you get a lot of folks getting feelings hurt. Which is silly. Very few of us personally know each other so how can you get hurt by what someone thinks? I dont know any of you personally so it is impossible for you to hurt me or even offend me. I like me and that is all that matters. I do not need attention or kudos.

That is a major problem we have today world wide. People think feelings matter and that if someone does not agree with what you believe is right they must be wrong and they must attack to protect themselves. Even more yearn for some me too attention or take sides with people that agree with them. Sad really.

- Ric
Be humble or get humbled
  • #1,974
  • Jul 16, 2021 10:24pm Jul 16, 2021 10:24pm
Quoting mixedbags
{quote} I do take note of that MTF settings. But in 1 day there should be more than 10 trades if we look at all the charts. BUT I don't I only look at US30, GBPUSD, and AUDJPY (this for buy only). If we wake up at 4.30 am and placed a trade we can have a happy big breakfast. TIME and PRICE. {quote} btw over there many were asking him how he trade - about 450 images just do some homework, it is crystal clear, a window into a trader strategy. Maybe he might not post any more image of his entries.
Thanks for the link. I'll take a look.

I wake up late for Franky to NY crossover for 4 hours before char heh mee dinnertime. Mostly 1 trade a day.
Know what you trade
  • #1,975
  • Jul 16, 2021 10:27pm Jul 16, 2021 10:27pm
Quoting BWilliam
{quote} 50 entry/exit pics for last Friday 16 July. {quote} Careful with your words Ric. It may cause WW3. Lets put it as you and I don't have the raw natural talent.
Hey BW,

I have been eating crap for it for years my friend. The people I personally know also give me crap for trading longer term. However we know and respect each other because we all proved to each other we are F.O.S.

- Ric
Be humble or get humbled
  • #1,976
  • Edited 11:53pm Jul 16, 2021 10:28pm | Edited 11:53pm
So guys this is my contribution to this thread. GBPUSD movement for next week. I haven't marked times and sessions.
Just prepared the chart. There might be slight changes but overall picture is like that
Trade at your own risk. I'm not liable for your lose. This is not a joke. Take it seriously
edit: forgot to mention the timeframe. Sorry for confusion. This is 1H TF.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.png Size: 22 KB
  • #1,977
  • Jul 16, 2021 11:39pm Jul 16, 2021 11:39pm
If one is an immature idiot in real life then chances are they'll be the same with their trading. It just makes sense that stupid follows stupid. With sections of your life 'blending together' usually without you noticing.

Day trading is just a section. If you have eg. 20 steps to complete your assessment, and it gives you a high/very high prob ROI (regardless of TF etc), then why break from routine?

Because you're a sensible person in proper control of yourself, or because you're an idiot who has picked the wrong 'section' of your life to blow off steam?

I have met people older than me who are half as mature (Or worse) and younger persons who are twice my maturity for their age. So it's reasonable to expect that an idiot is just an idiot but doesn't know it.

If a tool is used in trading there must be a reason. If a TF or Tick chart is used there must be a reason. If Volume or TT assessment is used there must a reason. The losers in a game like this are those who want something for nothing. Eg - there might be 20 different pieces a trader can add to the view of the market that increases their understanding and can therefore increase their capable success.

So all this BS about "entry is most important!" "NO! Exit is most important!" "X TF is best!" "NO! Y TF is best!" It's so stupid and so hilarious. It's the same as arguing over which car tyre is better or more relevant and important. It's the same as saying trendlines don't work. Counter trendlines don't work. Price rise doesn't work etc etc etc. ALL so silly and such BS.

Bloody dickheads talking crap because you're bored or an idiot. Or both.

Either you're a dickhead and don't take it seriously or you realize it NEEDS you to respect it THEN you get what you want.

Dickheads who claim something doesn't work BUT they have NOT or DO NOT use it.

I suppose next people will be arguing over whether a price rise is ACTUALLY up or if it's down. Where does it stop?

Dickheads who "don't believe" something and because of this THEY say it cannot be done and because they can't do it, it cannot be possible. Mmmmmmm ........ IDIOTIC.

Most people here that I see, have an "exclusive mentality and personality". Yeah idiots it's a real thing. Dickheads who lack BASIC common sense to use your brain instead of you mouth and grow the F up.

You wanna know WHY your trading sucks?!!!

Because you're too busy fragmentizing "trading" and "believing" that a piece is better than the whole. That a shadow view is somehow better than a well lit view.

Three words - LAZY AND SHORTSIGHTED.

.So who CARES, if you don't like this being said. Tomorrow is just groundhog day for you. Or you can wake up to yourself and do better.
Real Trading is not gambling.
  • #1,978
  • Jul 17, 2021 12:07am Jul 17, 2021 12:07am
Quoting PeterCaleb
Three words - LAZY AND SHORTSIGHTED. .So who CARES, if you don't like this being said. Tomorrow is just groundhog day for you. Or you can wake up to yourself and do better.
hELLO MORON DICK F' HEAD, are you ready for challenge still waiting or are you learning 69 now.
  • #1,979
  • Jul 17, 2021 12:36am Jul 17, 2021 12:36am
Quoting mixedbags
{quote} hELLO MORON DICK F' HEAD, are you ready for challenge still waiting or are you learning 69 now.



Attached Image (click to enlarge)
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Next?
Real Trading is not gambling.
  • #1,980
  • Jul 17, 2021 12:57am Jul 17, 2021 12:57am
Quoting gepards
RickM - you said you have 150k capital trading - so you are not afraid to expose how wealthy you are. Please share your MT4 account here in FF trade explorer and post some good days setups in the special success thread to motivate others. Let's consolidate success in 1 special place so people can get inspiration to fight for their freedom. There are so many people with max capital 100 usd (India, Pakistan etc). Let's give hope that it is really possible to get out...
RickM?
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