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The brutal truth of day trading

  • #2,381
  • Jul 24, 2021 8:17pm Jul 24, 2021 8:17pm
Now @gepards .... Now, will you please delete that ridiculous and grotesquely disrespectful thread you started about me.
Real Trading is not gambling.
  • #2,382
  • Jul 24, 2021 9:20pm Jul 24, 2021 9:20pm
Every Tom and Harry know the price rating of Petrol/Gas and it is easy to locate the cheapest gas station.

Every Tom and Harry thought that price is at it all year low/best hence they filled up 5 oil tankers. Ready to make a great profit when the price goes up. But later on the same day Elon Musk makes an offer to the world he is giving 2 electric cars free to each household and free charging for 5 years.

no one know the right side of the chart hence don't post left chart and announce to the world of price rating/value because the children in kindergarten also can do that.
  • #2,383
  • Jul 24, 2021 9:59pm Jul 24, 2021 9:59pm
Quoting mixedbags
Every Tom and Harry know the price rating of Petrol/Gas and it is easy to locate the cheapest gas station. Every Tom and Harry thought that price is at it all year low/best hence they filled up 5 oil tankers. Ready to make a great profit when the price goes up. But later on the same day Elon Musk makes an offer to the world he is giving 2 electric cars free to each household and free charging for 5 years. no one know the right side of the chart hence don't post left chart and announce to the world of price rating/value because the children in kindergarten...


Still harping on misconceptions, misinterpretations and possessing poor eyesight I see. Maybe you should widen your gaze. But hey, what would I know, I've only been doing for this for 4 decades.

Ciao.

Peter
Real Trading is not gambling.
  • #2,384
  • Jul 24, 2021 10:23pm Jul 24, 2021 10:23pm
Quoting PeterCaleb
{quote} Still harping on misconceptions, misinterpretations and possessing poor eyesight I see. Maybe you should widen your gaze. But hey, what would I know, I've only been doing for this for 4 decades. Ciao. Peter
don't talk cock. take up the challenge
  • #2,385
  • Jul 24, 2021 11:06pm Jul 24, 2021 11:06pm
Quoting PeterCaleb
{quote} Still harping on misconceptions, misinterpretations and possessing poor eyesight I see. Maybe you should widen your gaze. But hey, what would I know, I've only been doing for this for 4 decades. Ciao. Peter
maybe something for you to look at price rating and value -
THIS IS HOW YOU LOOK AT THE LEFT.
The Shiller price-to-earnings ratio for the S&P 500 has been climbing right now. The previous four instances of it climbing resulted in the S&P 500 devalued 20%.
  • #2,386
  • Jul 25, 2021 6:52am Jul 25, 2021 6:52am
Quoting DojiSan
What about daytraders like Ross (warrior trader)? Ross made over $4,000,000 in 2020 daytrading about 4 hours a day. Check his youtube channel. https://www.youtube.com/user/DaytradeWarrior

Be careful about those kind of recommendation.

https://twitter.com/Guruleaks1/statu...259792384?s=20
"After Deleting Over 82,000 Tweets Late Last Year, Folksy TradingGuru Ross Cameron @DaytradeWarrior
Reports that he is Under @FTC Investigation "Warmly, The Warrior Trading Team""
  • #2,387
  • Jul 25, 2021 8:19am Jul 25, 2021 8:19am
Quoting DojiSan
What about daytraders like Ross (warrior trader)? Ross made over $4,000,000 in 2020 daytrading about 4 hours a day. Check his youtube channel. https://www.youtube.com/user/DaytradeWarrior
Apparently, all these youtube "day traders" charlatan gurus made millions in one year. Sure, we "believe" that.
  • #2,388
  • Jul 25, 2021 8:48am Jul 25, 2021 8:48am
Quoting Techanalyst
{quote} Apparently, all these youtube "day traders" charlatan gurus made millions in one year. Sure, we "believe" that.
Day traders don't trade like that, we just aim for profit targets between 0.25% to 0.75%% every trading day.
If we can achieve a draw down level less than our total profit level - we are happy.

A wage is all a day trader desires -
A rich lifestyle for day traders is just a joke we dish up for those long term traders to get a reaction.
They can't resist to bite every time

I do agree with you on those youtube bullshit artists, just looking for suckers to sell signals or worst.
Trading thin liquidity at the boundary of the charts
  • #2,389
  • Jul 25, 2021 9:12am Jul 25, 2021 9:12am
Quoting mixedbags
Every Tom and Harry know the price rating of Petrol/Gas and it is easy to locate the cheapest gas station. Every Tom and Harry thought that price is at it all year low/best hence they filled up 5 oil tankers. Ready to make a great profit when the price goes up. But later on the same day Elon Musk makes an offer to the world he is giving 2 electric cars free to each household and free charging for 5 years. no one know the right side of the chart hence don't post left chart and announce to the world of price rating/value because the children in kindergarten...
Is't it, tom dick and harry?
.
  • #2,390
  • Jul 25, 2021 9:25am Jul 25, 2021 9:25am
Quoting RickM
{quote} Day traders don't trade like that, we just aim for profit targets between 0.25% to 0.75%% every trading day. If we can achieve a draw down level less than our total profit level - we are happy. A wage is all a day trader desires - A rich lifestyle for day traders is just a joke we dish up for those long term traders to get a reaction. They can't resist to bite every time I do agree with you on those youtube bullshit artists, just looking for suckers to sell signals or worst.
That's why I wrote these posts that people don't understand. The math don't lie.
https://www.forexfactory.com/thread/...5#post13630945
https://www.forexfactory.com/thread/...8#post13628748
Know what you trade
  • #2,391
  • Jul 25, 2021 9:46am Jul 25, 2021 9:46am
Quoting RickM
{quote} Day traders don't trade like that, we just aim for profit targets between 0.25% to 0.75%% every trading day. If we can achieve a draw down level less than our total profit level - we are happy. A wage is all a day trader desires - A rich lifestyle for day traders is just a joke we dish up for those long term traders to get a reaction. They can't resist to bite every time I do agree with you on those youtube bullshit artists, just looking for suckers to sell signals or worst.
Long term traders getting reaction, on day traders dishing up???? What???????? Actually it is the opposite, day traders/scalpers are reacting, that is why most of them are losers. Money is made by sitting not trading.
  • #2,392
  • Jul 25, 2021 9:51am Jul 25, 2021 9:51am
Quoting Techanalyst
{quote} Long term traders getting reaction, on day traders dishing up???? What???????? Actually it is the opposite, day traders/scalpers are reacting, that is why most of them are losers. Money is made by sitting not trading.
Exaggeration is the mother of nonsense (S. Lem)
Stay Well
  • #2,393
  • Jul 25, 2021 10:07am Jul 25, 2021 10:07am
Quoting Techanalyst
{quote} Long term traders getting reaction, on day traders dishing up???? What???????? Actually it is the opposite, day traders/scalpers are reacting, that is why most of them are losers. Money is made by sitting not trading.
Sure. Just sit. Do nothing. Draw some lines or boxes. And you will be rich. That works even better if you have traditional job and trade rare at lunch time or after main job. Proofs? Ha! Watch YouTube, there are a lot of successful trades. Math? Speed? Algos? Software? No! Holy crap! Waste of time. Everybody knows all you need is correct mind set. You must feel the market!
Observer effect
  • #2,394
  • Jul 25, 2021 10:18am Jul 25, 2021 10:18am
Quoting ryuryu
{quote} Sure. Just sit. Do nothing. Draw some lines or boxes. And you will be rich. That works even better if you have traditional job and trade rare at lunch time or after main job. Proofs? Ha! Watch YouTube, there are a lot of successful trades. Math? Speed? Algos? Software? No! Holy crap! Waste of time. Everybody knows all you need is correct mind set. You must feel the market!
Watch youtube videos? Please, don't say that again. It is not about sitting and drawing lines. Charts are there to analyze supply/demand. That's it. You are not a surgeon, you are not doing surgery, it is a chart to confirm where to enter at a best price possible off of supply/demand. It comes down to fundamentals, macro and micro analysis, economics. The money is made by sitting not trading is you literally buy/sell and you hold and add more positions. That's how professional traders in the banks and institutions are trading. Market makers are different. And never compare yourself to market makers like some retail traders do. No retail trader is a market maker, you will never be able to trade like a market maker unless you go work for banks and institutions. So to sum it up, when you day trade/scalp, you are simply gambling with your "patterns". You will never make an full time income from trading, if you are day trading. Trade safe.
  • #2,395
  • Jul 25, 2021 10:24am Jul 25, 2021 10:24am
Quoting Techanalyst
{quote} Long term traders getting reaction, on day traders dishing up???? What???????? Actually it is the opposite, day traders/scalpers are reacting, that is why most of them are losers. Money is made by sitting not trading.
I am a daily trader. On average I can trade a certain pair once every two days. There are days when I take advantage of the mountains and valleys to trade twice in one day.
if I reach + 10% per trade then I am already satisfied.
  • #2,396
  • Jul 25, 2021 10:34am Jul 25, 2021 10:34am
this +10% profit per trade sounds fantastic at first, but it’s not.
this + 10% expected profit will be adjusted to my hit rate.
and so no longer so awesome, just good.
  • #2,397
  • Jul 25, 2021 10:46am Jul 25, 2021 10:46am
Quoting tiborf71
{quote} I am a daily trader. On average I can trade a certain pair once every two days. There are days when I take advantage of the mountains and valleys to trade twice in one day. if I reach + 10% per trade then I am already satisfied.
I do not know what "daily trader" is. However, I hold my positions from one day up to about three months. It all depends on the fundamentals and supply/demand confirmation.
  • #2,398
  • Jul 25, 2021 10:56am Jul 25, 2021 10:56am
Quoting Techanalyst
{quote} I do not know what "daily trader" is. However, I hold my positions from one day up to about three months. It all depends on the fundamentals and supply/demand confirmation.
We all are different by our thinking and our way how we approach to problems and towards solutions, even two brothers grown up in same house have different choices but we all have similar desires to meet ends meet. Why the fuss if you're consistently profitable in a relax chilling way as position, swing trader. While others like scalping or intra day swings.

No one going to get any cup proving themselves right.
"Exchange of hands"
  • #2,399
  • Jul 25, 2021 10:58am Jul 25, 2021 10:58am
Quoting Techanalyst
{quote} I do not know what "daily trader" is. However, I hold my positions from one day up to about three months. It all depends on the fundamentals and supply/demand confirmation.
I trade within a daily d1 candle.
I see that you are more of a longer term trader.
but knowledge of the basics at some level is very important for both trading styles.
  • #2,400
  • Jul 25, 2021 12:07pm Jul 25, 2021 12:07pm
The brutal truth of day trading

simplest way
have patience
look for congestion zones
trade only after the move
either for continuation or reversal

not so simple way (more experience needed)
have patience
look for congestion zones
trade inside the congestion zones before the move
or in the opposite side before the move
either for continuation or reversal

cheers
Uncertainty of the market must be embraced and accepted.
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