The brutal truth of day trading | Page 148 | Forex Factory

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The brutal truth of day trading

  • #2,941
  • Aug 6, 2021 9:29am Aug 6, 2021 9:29am
Quoting tiborf71
{quote} market profile is a very good strategy system.
yes it is underestimated it shows you m30 where you are
  • #2,942
  • Aug 6, 2021 9:30am Aug 6, 2021 9:30am
Quoting Wags
{quote} Correct, everyone is different People need to find their niche and work with that Cheer Buddy
have a nice weekend you and your family
buddy
  • #2,943
  • Aug 6, 2021 9:33am Aug 6, 2021 9:33am
Quoting kette
{quote} have a nice weekend you and your family buddy

And you Kette
  • #2,944
  • Aug 6, 2021 9:34am Aug 6, 2021 9:34am
Quoting kette
{quote} yes it is underestimated it shows you m30 where you are
on my simulator I run the possible scenarios. if the results point in one direction then I open a position.
so far so good.
m30.
  • #2,945
  • Aug 6, 2021 9:41am Aug 6, 2021 9:41am
Quoting tiborf71
{quote} on my simulator I run the possible scenarios. if the results point in one direction then I open a position. so far so good. m30.

Sounds very professional.
ok
  • #2,946
  • Aug 6, 2021 9:48am Aug 6, 2021 9:48am
wish everyone in this room a nice weekend
trading is not everything, i'm going running in the forest with my wife now
  • #2,947
  • Aug 6, 2021 10:00am Aug 6, 2021 10:00am
Quoting kette
wish everyone in this room a nice weekend trading is not everything, i'm going running in the forest with my wife now
so drink a beer while running.
beer is good for health.
good weekend for you too.
  • #2,948
  • Edited 10:46am Aug 6, 2021 10:01am | Edited 10:46am
Quoting ohyeah
{quote} The spread for BTCUSD is good, you can trade it on IC Markets. Their other cryptos have too wide of a spread for me. But still, any currency would still be better than BTCUSD. The price action on any currency is better than BTCUSD.
There is no sense to trade crypto on forex since it has 1:50 leverage max and this is not the problem. The problem is that it is nominated in dollars! It is better to trade perpetual futures nominated in btc, because in this case there are no spread at all, there are rebates for limit orders (+0.15% turn), there are positive funding every 8 hours for shorts (mostly) and the last but not the least - there are NO RISK and no liquidation price for shorts with 1x leverage due to the contract specifications. I just wonder how you guys are trading if you don't know the basics!!!
You all are talking about the mindset, the feelings, but all you must do is to study math!

p.s. Please don't tell me that sl works but hedge not, don't show me your colored lines on the chart with numerous indicators. Answer one question: what is 1 adr distance in % today for EURUSD, for XAUUSD and for BTCUSD. If you fail to do it there is nothing to discuss. Study math first!
Observer effect
  • #2,949
  • Aug 6, 2021 10:15am Aug 6, 2021 10:15am
Quoting ryuryu
{quote} There is no sense to trade crypto on forex since it has 1:50 leverage max and this is not the problem. The problem is that it is nominated in dollars! It is better to trade perpetual futures nominated in btc, because in this case there are no spread at all, there are rebates for limit orders (+0.15% turn), there are positive funding every 8 hours and the last but not the least - there are NO RISK and no liquidation price for shorts with 1x leverage due to the contract specifications. I just wonder how you guys are trading if you don't know...
Cool. Interesting to know. I'll be sticking to FX pairs.
  • #2,950
  • Aug 6, 2021 10:16am Aug 6, 2021 10:16am
BTCUSD.
and here comes the need for leverage as high deposit requirements so high leverage is required.
especially if we trade in a smaller time zone.
and we don’t have a huge account.
  • #2,951
  • Aug 6, 2021 10:17am Aug 6, 2021 10:17am
Quoting tiborf71
BTCUSD. and here comes the need for leverage as high deposit requirements so high leverage is required. especially if we trade in a smaller time zone. and we don’t have a huge account.
One good thing about trading BTCUSD is there is no commission and, you can trade it over the weekend too on IC Markets. But I don't trade BTCUSD personally. Forex pairs are much better.
  • #2,952
  • Aug 6, 2021 10:43am Aug 6, 2021 10:43am
Quoting ohyeah
{quote} One good thing about trading BTCUSD is there is no commission and, you can trade it over the weekend too on IC Markets. But I don't trade BTCUSD personally. Forex pairs are much better.
The spread on ICM for Bitcoin I think it is excessive. And ICM will probably charge overnight swaps.

Maybe you can also consider trading on an exchange or similar real bitcoins through spot accounts instead of CFDs or margin-based trading (that is unnecessary due to the high volatility of BTC).

I mean, ICM for CFDs on Forex pairs is ok, but for trading cryptos, I think it is better to trade using a real exchange.
  • #2,953
  • Aug 6, 2021 11:35am Aug 6, 2021 11:35am
Quoting gepards
I trade only with EAs.. but tnx to this thread tried now some manual day trading on demo account, spent about 2 hours per day, 4 days in a row this week: here results: {image} here some stats: {image}
1 week done. Next week will try with live account.

Attached Image (click to enlarge)
Click to Enlarge Name: manual_1_week.png Size: 96 KB


here all details/history.

plan.. split 1k into 10 parts. try to scale and multiply 6 times in a row: 100 to 200 to 400 to 600 to 1200 to 2400. 6 weeks. then cashout. and restart with 200 usd. cashout 4800 and restart with 400 usd. so each time have 10 attempts to make 100% in 1 week and so 6 weeks in a row.

ideally if no wipeouts then:
6 weeks 2400
12 weeks 4800
24 weeks 9600
30 weeks 19200
36 weeks 38400
42 weeks 76800
48 weeks 153600
54 weeks 307200 usd

this is an illusion... might be several wipeouts in that journey. so maybe after 3 years might be reached the goal 300k.

will consider maybe scale in not on 100% but already on 20%. with 100 usd can trade initially 0.05 lots. I didnt raised lots but yes averaged out some deals and hedged a lot. 60% dd (close to wipeout).
  • #2,954
  • Aug 6, 2021 12:33pm Aug 6, 2021 12:33pm
Good profit this week, mostly was selling from last week USDCHF, and this week of buying USDCHF. Closed all trades in profit. Trade safe and have a good weekend.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHFDaily.png Size: 84 KB
  • #2,955
  • Aug 6, 2021 1:40pm Aug 6, 2021 1:40pm
Quoting Techanalyst
Good profit this week, mostly was selling from last week USDCHF, and this week of buying USDCHF. Closed all trades in profit. Trade safe and have a good weekend. {image}
Do you sell smth like Peter? What is the purpose of that bullshit you post? Can I have 30% discount for your holy grail PDF? How much can I have daily? Aussie says even a kid can have 7% daily. How about you? Can I trust you? Can you open more than 350 lots on Gold like them? Are you a part of their gang?
Observer effect
  • #2,956
  • Aug 6, 2021 1:51pm Aug 6, 2021 1:51pm
Quoting ryuryu
{quote} Do you sell smth like Peter? What is the purpose of that bullshit you post? Can I have 30% discount for your holy grail PDF? How much can I have daily? Aussie says even a kid can have 7% daily. How about you? Can I trust you? Can you open more than 350 lots on Gold like them? Are you a part of their gang?
I trade fundamentals and supply/demand. I do not open a lot of positions. I buy/sell and hold, until something changes in fundamentals and/or reaches supply zone/demand zone. I do not sell anything, I share my charts. I am not part of any gang, I am full time trader, I invest my own money and that is how I make my money. I have been full time forex trader for years. I also started investing into stock market and it is going well. I do not care if you trust me or not. I also do not care what Aussie says or Peter or whoever you are talking about. You are nothing and nobody to me. Now go for a walk, from what I read in your post, you are a frustrated person.
  • #2,957
  • Aug 6, 2021 2:50pm Aug 6, 2021 2:50pm
Quoting Techanalyst
You are nothing and nobody to me. Now go for a walk, from what I read in your post, you are a frustrated person.



... said that puffed up, pompous peacock, a paper tiger
Observer effect
  • #2,958
  • Aug 6, 2021 3:51pm Aug 6, 2021 3:51pm
Attached Image
  • #2,959
  • Aug 6, 2021 5:05pm Aug 6, 2021 5:05pm
Quoting ryuryu
{quote} ... said that puffed up, pompous peacock, a paper tiger
Go get some fresh air loser.
  • #2,960
  • Aug 6, 2021 6:59pm Aug 6, 2021 6:59pm
Quoting TimeTells
{quote} He told me, hope I am correct here George lol, that they weren’t precise enough, for him.
Lol. Yeah thats so him. His a perfectionist. A good man.
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