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The brutal truth of day trading

  • #2,221
  • Jul 21, 2021 3:33pm Jul 21, 2021 3:33pm
Quoting gepards
{quote} therefore we use stop losses. When major disaster happens to our company - stop trading it. accept SL. find another horse then.
Lets get back to basics...
SL is working like every other pending order, is triggered when other side is found... what if there is no other side of transaction?
Still remember story with CHF, on my eyes price dropped down2500 pips with in minutes ... people lost fortunes having "tight" SL. I can writw this becouse have no position opened...
DO we learn something important form HISTORY???
Green Pips
  • #2,222
  • Edited 3:52pm Jul 21, 2021 3:40pm | Edited 3:52pm
Quoting BlackNapkins
{quote} Lets get back to basics... SL is working like every other pending order, is triggered when other side is found... what if there is no other side of transaction? Still remember story with CHF, on my eyes price dropped down2500 pips with in minutes ... people lost fortunes having "tight" SL. I can writw this becouse have no position opened... DO we learn something important form HISTORY??? Green Pips


Are you talking about gaps when open the market?
  • #2,223
  • Jul 21, 2021 3:46pm Jul 21, 2021 3:46pm
Quoting superamigo
are you talking about gaps when open the market?
No , CHF crash the Swis Government stoped defending price level of frank against euro in January 2015 if I remember corectly
2500 pips drop within minute or two... and other pairs with CHF followed them off course...
  • #2,224
  • Jul 21, 2021 3:48pm Jul 21, 2021 3:48pm
Quoting gepards
{quote} diversify. when earning the first mil $ then put some % in a more safe place like real estate. {quote} what is the purpose FF created the possibility to show trading results? maybe people then can see who "walk the talk" and who just live in fantasies?
And how long did you need to earn the first mil $?
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #2,225
  • Jul 21, 2021 3:50pm Jul 21, 2021 3:50pm
Quoting BlackNapkins
{quote} Lets get back to basics... SL is working like every other pending order, is triggered when other side is found... what if there is no other side of transaction? Still remember story with CHF, on my eyes price dropped down2500 pips with in minutes ... people lost fortunes having "tight" SL. I can writw this becouse have no position opened... DO we learn something important form HISTORY??? Green Pips
How time happened this? I think actually it isnt probably to happen because the number people trading today it is a lot times biger than years ago. The number new trades dont stop growing. I cant see any order dont having other side to trade
  • #2,226
  • Jul 21, 2021 3:56pm Jul 21, 2021 3:56pm
Quoting BlackNapkins
{quote} No , CHF crash the Swis Government stoped defending price level of frank against euro in January 2015 if I remember corectly 2500 pips drop within minute or two... and other pairs with CHF followed them off course...
i will look the chart about this time
  • #2,227
  • Jul 21, 2021 3:57pm Jul 21, 2021 3:57pm
Quoting BlackNapkins
{quote} Lets get back to basics... SL is working like every other pending order, is triggered when other side is found... what if there is no other side of transaction? Still remember story with CHF, on my eyes price dropped down2500 pips with in minutes ... people lost fortunes having "tight" SL. I can writw this becouse have no position opened... DO we learn something important form HISTORY??? Green Pips
good point. therefore split capital and use n accounts/brokers. and do not trade more than 10% of your free capital.

stocks crashes are protected with circuit breaker.

big crashes happen about once in 5 years. The last one was a covid crash 1 year ago. MSFT tanked 30%. Then massive money printing and gov injections in stocks stabilized. govs will protect stocks at all costs - because it is pension funds. if govs won't protect stocks - pensions collapse. that never happens. if that happens - usd and eur no more exist and only physical gold can survive then.
  • #2,228
  • Jul 21, 2021 4:08pm Jul 21, 2021 4:08pm
Quoting gepards
{quote} good point. therefore split capital and use n accounts/brokers. and do not trade more than 10% of your free capital. stocks crashes are protected with circuit breaker. big crashes happen about once in 5 years. The last one was a covid crash 1 year ago. MSFT tanked 30%. Then massive money printing and gov injections in stocks stabilized. govs will protect stocks at all costs - because it is pension funds. if govs won't protect stocks - pensions collapse. that never happens....
Printing money only postpone inevitable... and make danger growing...
Please do not be offended, but your imagination is very shallow...
There no circuit breaker for events which never happened before...
you say gold??? I say food... water ... air
Stay well
  • #2,229
  • Jul 21, 2021 4:09pm Jul 21, 2021 4:09pm
Quoting BlackNapkins
{quote} No , CHF crash the Swis Government stoped defending price level of frank against euro in January 2015 if I remember corectly 2500 pips drop within minute or two... and other pairs with CHF followed them off course...
I have a simulator about chart time and i can simulate my trade at January 15th 2015. Im curious to know how much i could loss
  • #2,230
  • Jul 21, 2021 4:10pm Jul 21, 2021 4:10pm
Quoting bfx17
And how long did you need to earn the first mil $?
Depending on starting capital and risk tolerance.

Quoting gepards
Here another MSFT setup. The same EA but different parameters. When scalled then from 100 usd made 44000 usd in 8 years
This is just playing with history... to see what is possible theoretically. Not guaranteed in real life. More realistic to earn 1st mil $ is by attracting investors. About 5 years then needed - to establish creditability, gain followers, show consistent results etc
  • #2,231
  • Jul 21, 2021 4:19pm Jul 21, 2021 4:19pm
Quoting BlackNapkins
{quote} Printing money only postpone inevitable... and make danger growing... Please do not be offended, but your imagination is very shallow... There no circuit breaker for events which never happened before... you say gold??? I say food... water ... air Stay well
ok prepare for armageddon. saw movies where in usa was trend to build private bunkers because of nuclear war posibility.. when covid started i purchaced 75kg raw buckwheat - just in case.. u know.. for peace of mind
  • #2,232
  • Jul 21, 2021 4:20pm Jul 21, 2021 4:20pm
The kind of threads people create on FF the thread titles and so on, I am now 100% convinced that 95% and more are definitely not trading at all for a living. I have read some posts, like day trading and so on, and I can't believe sometimes what people are saying. Beside those people not trading for a living meaning, not earning money from trading to pay their rents, mortgages, car payments, insurance, food and so on, it makes me wonder, what do they actually do for a living????????????????????????????????????????????????????????????????
  • #2,233
  • Jul 21, 2021 4:23pm Jul 21, 2021 4:23pm
Quoting gepards
{quote} Depending on starting capital and risk tolerance. {quote} This is just playing with history... to see what is possible theoretically. Not guaranteed in real life. More realistic to earn 1st mil $ is by attracting investors. About 5 years then needed - to establish creditability, gain followers, show consistent results etc
I see, i see. So it is only theory...from what you wrote it seemed implied that you already had earned the first mil $. My bad...so I suppose you are then in the phase of attracting investors with your great EAs...and luckily (for you), the mother of stupidity is always pregnant.
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #2,234
  • Jul 21, 2021 4:28pm Jul 21, 2021 4:28pm
Quoting bfx17
{quote} I see, i see. So it is only theory...from what you wrote it seemed implied that you already had earned the first mil $. My bad...so I suppose you are then in the phase of attracting investors with your great EAs...and luckily (for you), the mother of stupidity is always pregnant.
all you need is 2-3 years of consistent safe approach profits you can prove with records. then investors will find you.
  • #2,235
  • Jul 21, 2021 4:35pm Jul 21, 2021 4:35pm
Quoting gepards
{quote} all you need is 2-3 years of consistent safe approach profits you can prove with records. then investors will find you.
I am sure you got my point...hopefully others did as well.
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #2,236
  • Jul 21, 2021 4:37pm Jul 21, 2021 4:37pm
Quoting BlackNapkins
{quote} No , CHF crash the Swis Government stoped defending price level of frank against euro in January 2015 if I remember corectly 2500 pips drop within minute or two... and other pairs with CHF followed them off course...
I already simulated my loss and my loss would be around 110 pips it would be only between 6% and 10% from my total. To me it wouldnt be so terrify. 10% loss isnt hard to recover and it is rare to happen and same if it happens it would be low probably to cauch me. I trade no more than 4 times in one month.
Im swinger, but about daytrader it could be 100% loss.
  • #2,237
  • Jul 21, 2021 4:40pm Jul 21, 2021 4:40pm
Quoting superamigo
{quote} I already simulated my loss and my loss would be around 110 pips it would be only between 6% and 10% from my total. To me it wouldnt be so terrify. 10% loss isnt hard to recover and it is rare to happen and same if it happens it would be low probably to cauch me. I trade no more than 4 times in one month. Im swinger, but about daytrader it could be 100% loss.
the simulation does not simulate real-life when your orders cant be filled. strategy testers cant simulate liquidity issues when all people want to SELL and no buyers at that moment.
  • #2,238
  • Jul 21, 2021 4:54pm Jul 21, 2021 4:54pm
Quoting Techanalyst
The kind of threads people create on FF the thread titles and so on, I am now 100% convinced that 95% and more are definitely not trading at all for a living. I have read some posts, like day trading and so on, and I can't believe sometimes what people are saying. Beside those people not trading for a living meaning, not earning money from trading to pay their rents, mortgages, car payments, insurance, food and so on, it makes me wonder, what do they actually do for a living????????????????????????????????????????????????????????????????
That's very honest of you to admit that you are part of the 95% , don't worry in time with a little coaching and for you to open up to other ideas I'm sure you will become profitable, I wish you luck, once again it takes guts to admit that your trading sucks
  • #2,239
  • Jul 21, 2021 5:04pm Jul 21, 2021 5:04pm
Quoting gepards
{quote} the simulation does not simulate real-life when your orders cant be filled. strategy testers cant simulate liquidity issues when all people want to SELL and no buyers at that moment.
Then do you mean that it is impossible to have a loss estimate this case?
  • #2,240
  • Jul 21, 2021 5:19pm Jul 21, 2021 5:19pm
Hey All,

It seems to me that a major issue that is still going in this thread is day traders and scalpers are trying to defend the fact that they day trade/scalp from traders who don't. I said it once and I will say it again. There is no wrong way to trade as long you make money. If RickM trades 50 times a day and he is making money, great. I am happy to hear it. If I trade 50 times a year and I am happy with the results, fantastic. Should it matter if I don't trade the same way as RickM?

How about a little test as proof that what time frame you trade is not an issue. I attached 4 charts all EUR/USD. There is a 1 min, 1 Hr, 1 Day and 1 week chart. Can you tell which is which? Seems to me they all look alike. I see the patterns in all the pics. Yes Some will generate 50 pips while other trades will generate 500. Should it matter? As long as the individual trader is comfortable, who cares?

The only time I have an issue is with blatant misinformation. Such as when scherzi suggested that back-testing on Demo is exactly the same as forward testing live. That is wrong. There is no debate. Things like that are what cause issues for me. People can not stand to be called out when they are wrong. It is OK to be wrong. We don't learn unless we make mistakes. I embrace someone PROVING ME wrong. That is how I learn. Just saying I am wrong because you don't agree makes you a fool.

- Ric
Attached Image(s) (click to enlarge)
Click to Enlarge Name: FF EURO TEST pic 1.jpeg Size: 147 KB
Click to Enlarge Name: FF EURO TEST pic 2.jpeg Size: 137 KB
Click to Enlarge Name: FF EURO TEST pic 3.jpeg Size: 164 KB
Click to Enlarge Name: FF EURO TEST pic 4.jpeg Size: 151 KB
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