The brutal truth of day trading | Page 168 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The truth about trading 164 replies

Truth about trading 9 replies

Truth about online trading...Is this us also? 5 replies

Pulos Bill - The Truth About Fibonacci Trading (Attached) 4 replies

The Bonehead Trader..please be brutal!! 47 replies

Attachments: The brutal truth of day trading
Exit Attachments

The brutal truth of day trading

  • #3,341
  • Aug 20, 2021 11:25pm Aug 20, 2021 11:25pm
Quoting remonpilip
And yeah for some reason it sums up to over 100%
Because can check n answers in 1 vote.
  • #3,342
  • Aug 20, 2021 11:40pm Aug 20, 2021 11:40pm
Quoting Nordling00
{quote} I am not saying it's impossible but i think it's harder and less possible to make money by daytrading and scalping. Longer term trading (swing, position) is more reliable and less risky.
Fully agree. The more activities you make the more mistakes. And vice versa. Less deals = less mistakes. More pips targeted less cost % for entry and less impact from slippages on exits. It is not smart choice to scalp. Chose wise where to put money. If you see scalping is more expensive and more impact from slippages then why chose scalping when you see swing is less expensive? What motivates to choose worst approach? Adrenalin?
  • #3,343
  • Aug 21, 2021 12:56am Aug 21, 2021 12:56am
Howdy all,

All trader has their own view what work and what not work for him.

We trade our belief about the market. Not the market ITSELF. Because the map is not teritory.

OFC, what we believe most is what work well for us and the more we change our PERCEPTION to reality as close as possible with real teritory, the more we success.

For me it is ITC a.k.a Michael Huddlestone and George Aus that change my trade result BETTER.

BUT THAT JUST FOR ME AND WHATS WORK FOR ME .... ONLY

Every trader must find their own road less travelled. Must do their own research to own their brain.

Let's learn from others and don't be judgemental.
Take lesson to what suit our perception and personality. If it work for ourself don't impose it to others. Everyone deserve own their world.

If they success in his way of trading, better to ask how they do it and learn their metaprogram if they willing.

Appreciate my English ....please
  • #3,344
  • Edited 4:13am Aug 21, 2021 1:11am | Edited 4:13am
Me myself always learn to join the best mind in trading IF suit my market view.

Theres real nugget in Bilal, RickM, MoodyBoot, Donpato, Bionics, Darkstar, David pivot, Mladen, Swingman, TimeTell, GeorgeAus, TheRealDeal, ICT, Jupiter, CrucialPoint, Alpha-Omega, CJA, Zznbrm, Fractalfreak, CaptainJack, FTI, Stevehopwood and OTHERS

AND THEIR CONTRIBUTION IS COMPLETING MY EDGE. One by one whatever SMALL.

I much appreciate it and THAAAAANKS BROTHAS IN LORD.

Your contribution IS NOT SMALL

Everyone has their own craft and their own art in trading

Lets building each other
  • #3,345
  • Edited 1:49am Aug 21, 2021 1:35am | Edited 1:49am
Quoting remonpilip
source: https://www.quora.com/Why-are-commod...ent-strategies I am giving everyone some free invaluable knowledge here. Most people, and especially people who profess to know what they are talking about, don’t! They spout verbage but they either don’t trade or they don’t trade successfully. Big hat, no cattle I call it! I find most self proclaimed experts spout a bunch of technical jargon and this and that, but as I said, big hat, no cattle. Now I am not selling anything so I don’t...

Hi Remon, thanks for starting the thread.

I view that all you mention about chaoticness, non-linear dynamic system' and randomness is CREATED BY DESIGN IN VERY HIGHEST ORDER.

By who ?
Let's not go around and around.
Of course by our friend Nakamoto (because we have no choice except to surf with him)

And let's straight jumping on SOLUTION :

How best we can read the mind of Nakamoto ?
Or put our shoes on her shoes ?

I still learn and always learn.
Hope you willing to teach English slang for better me.
  • #3,346
  • Aug 21, 2021 2:00am Aug 21, 2021 2:00am
Quoting deanyakobs
{quote} Hi Remon, thanks for starting the thread. I view that all you mention about chaoticness, non-linear dynamic system' and randomness is CREATED BY DESIGN IN VERY HIGHEST ORDER. By who ? Let's not go around and around. Of course by our friend Nakamoto (because we have no choice except to surf with him) And let's straight jumping on SOLUTION : How best we can read the mind of Nakamoto ? Or put our shoes on her shoes ? I still learn and always learn. Hope you willing to teach English slang for better me.
what do you mean by Nakamoto? Bitcoin creator?
  • #3,347
  • Aug 21, 2021 2:30am Aug 21, 2021 2:30am
It all just depends on what tradingstyle suits your personality..... Swing trading just wouldnt cut it for me with my impulsive fast acting mind! Btw the markets are all fractal so swing trading or day trading it doesnt matter, except for the fact that a daytrader can trade 5 days in the weeks grabbing 20/30 pips a day if the market allows it(and most of the times it will) and a swingtrader has to sit on their hands until that opportunity arises!

So tell me whats good and whats bad?

Both are good.

I havent been on FF since 2019 i think and what i can see on most peoples charts still are just indicators to rely on and tell them what to do....... Its not in the indicators what makes you a great traders its your own ability to read the markets and candles.

Doesnt matter if its swingtrading or daytrading.
Was slipping off the edge but i held up.
  • #3,348
  • Aug 21, 2021 2:57am Aug 21, 2021 2:57am
Quoting JustPipping
So tell me whats good and whats bad? Both are good.
Let's VOTE what is good what is bad... truth is not important as consensus is ...
  • #3,349
  • Aug 21, 2021 3:00am Aug 21, 2021 3:00am
Quoting JustPipping
It all just depends on what tradingstyle suits your personality..... Swing trading just wouldnt cut it for me with my impulsive fast acting mind! Btw the markets are all fractal so swing trading or day trading it doesnt matter, except for the fact that a daytrader can trade 5 days in the weeks grabbing 20/30 pips a day if the market allows it(and most of the times it will) and a swingtrader has to sit on their hands until that opportunity arises! So tell me whats good and whats bad? Both are good. I havent been on FF since 2019 i think and what...
You have a way with the words.
Using fewer words, You provide very effective practical trading tips:
(a) Understanding trading style suitable for your personality is must.
(b) Markets are fractals. In my common sense of equating real-life auctions with that of financial trading auction, I find the auctioneers' (designated market makers) job quite tough. It is difficult even for them to manage liquidity and keep the market organized by employing flash crashes, surprise price repricing, and finally big crashes.
Learning from their inability to keep the markets orderly, or save the markets from crashing, the financial planners have boldly used flooding the market with helicopter money and actively manage the markets direction.
The Corono aftermath has given the financial planners new exposure and tools to manage markets in mega macro way.
It also exposes the notion that money is something real. It is not. So the world is becoming a big casino now with so much of helicopter money splashed all around.
Exchanges are daily coming out with micro contracts and proportional secondary trading stock for the small investors.
(c) Reliance on indicators is killing the effort to read the markets and candles. I only read the charts for price -time movements to figure out bidding antics being used and the chart in fact provides the footprints of big players.
Practice makes a person perfect
  • #3,350
  • Aug 21, 2021 3:19am Aug 21, 2021 3:19am
Quoting BWilliam
{quote} So why waste our time.
your time your business what you are doing with it
  • #3,351
  • Edited 4:06am Aug 21, 2021 3:31am | Edited 4:06am
Quoting gepards
{quote} what do you mean by Nakamoto? Bitcoin creator?
The Ghost
Flying Dutchman in financial market
Untouchable
Forever invisible with naked eye
The core of the core
Our VISION as Mr. G said
He is nowhere but everywhere
THE ONLY CONDUCTOR

His identity is not important at all. What is important is :
- WHAT IS HE ALWAYS DO !!
- WHAT IS HE MUST DO !!

on our charts.
WHY HE DO IT !
WHAT IT MEAN FOR ME ?

IS now best time to BUY, SELL OR NO TRADE based on his subtle massage !

Atonement with His intent and mind is the most important things.

His care only our money. That is his highest morality in infinity.

Uuhh
Don't trust me ... buddy
I am just keyboard warrior
Expressing and exercising my English phillosophy writing in all time frame

Sorry to bother this thread

Hope my grammar gud enouf
  • #3,352
  • Aug 21, 2021 4:49am Aug 21, 2021 4:49am
Quoting simnz
{quote} You have a way with the words. Using fewer words, You provide very effective practical trading tips: (a) Understanding trading style suitable for your personality is must. (b) Markets are fractals. In my common sense of equating real-life auctions with that of financial trading auction, I find the auctioneers' (designated market makers) job quite tough. It is difficult even for them to manage liquidity and keep the market organized by employing flash crashes, surprise price repricing, and finally big crashes. Learning from their inability...

Its all calculated in price before it happens! There are no market makers who sit behind a desk anymore to implement liquidity, its all algorithmic controlled.

Since you started on Corona let me find an example:



Attached Image (click to enlarge)
Click to Enlarge Name: afbeelding_2021-08-21_113101.png Size: 43 KB



Do you guys think its coincidence thats when Corona is announced a gap and point of interest gets closed on EU? Inducing traders to go short right before they turn around for 1700 pips? Is it pure randomness? Is Corona real or created to keep the ball rolling? Its all manipulation and if you know what to look for you can do this (almost)everyday on a lower timeframe. Whats the causal relationship of all these things happening at one time during corona announcement?

Most traders cant answer that because they believe in a trendline or supply and demand.... Why does price turn at that weekly ob it traded too? is it because more sellers entered the market or did they(''market maker'')reach their target? Does it even matter? For me yes.

The point is you can apply this same model to lower timeframes and if you know what your doing become very profitable as a daytrader/scalper as you can as a swing/position trader.
Was slipping off the edge but i held up.
  • #3,353
  • Aug 21, 2021 6:45am Aug 21, 2021 6:45am
Quoting JustPipping
{quote} Its all calculated in price before it happens! There are no market makers who sit behind a desk anymore to implement liquidity, its all algorithmic controlled. Since you started on Corona let me find an example: {image} Do you guys think its coincidence thats when Corona is announced a gap and point of interest gets closed on EU? Inducing traders to go short right before they turn around for 1700 pips? Is it pure randomness? Is Corona real or created to keep the ball rolling? Its all manipulation and if you know what to look for you can...
Common sense trading requires you to study the bidding antics irrespective of timeframes or how those are planned.
Market makers can plan their algos depending upon what they learn from order books.
Fixing prices, collusion between interested groups, cartels, all kinds of manipulation - it is all part of a regular auction market and is generally acceptable ever since the system of auctions has started. Overt manipulation is not accepted as part of capitalism system since competition and monopoly laws exist. Covert or clandestine collusion can't be stopped easily. It goes unabated. Human greed is a strong force.
It is essential to treat that the micro trading (as against Macro trading which creates market noise that stunts decision making ability) has its own market structure, demand and supply forces, own competition tricks and therefor risk taking should take this into account.
Risk taking and risk management are very important for any kind of money-making venture.
Practice makes a person perfect
  • #3,354
  • Aug 21, 2021 6:49am Aug 21, 2021 6:49am
Quoting JustPipping
{quote} Its all calculated in price before it happens! There are no market makers who sit behind a desk anymore to implement liquidity, its all algorithmic controlled. Since you started on Corona let me find an example: {image} Do you guys think its coincidence thats when Corona is announced a gap and point of interest gets closed on EU? Inducing traders to go short right before they turn around for 1700 pips? Is it pure randomness? Is Corona real or created to keep the ball rolling? Its all manipulation and if you know what to look for you can...
You have used a chart quite suitable for identifying footprints in the internal market. If you don't mind, can you please pass the link to download this indicator.
It is good for a manual trader like me.
Thank you.
Practice makes a person perfect
  • #3,355
  • Aug 21, 2021 7:18am Aug 21, 2021 7:18am
Quoting tommydoginti
{quote} First the 25% is real trading ACCOUNTS. How many actual persons is unknown. Although it is fine to assume it is same for number of traders as traders with multiple accounts mag be randomly distributed among winning and losing group That is another misleading statistics that confuse many fx traders if not read carefully look at this study https://www.compareforexbrokers.com/...ng/statistics/ 99% of traders lose? Or 71% lose? what is the 99% fx traders represents, and what is the sentence immediately before this statement?...
In that study it appears that they gathered monthly info from several brokers and made a average.
The problem is that it doesnt give an accurate number, lets say from that year you end up being profitable on 4 months and lose on the other 8 months and thousands of people are in a similar situation, they make money for a few months but they lose for the rest of the year, So every month you will have a x% amount of people that are profitable but most probably will end the year losing money.
So in the end all that study says is that there is a average of 29% of traders that win money monthly, it doesnt say that those 29% are able to do it consistently for the entire year.
  • #3,356
  • Edited 7:52am Aug 21, 2021 7:32am | Edited 7:52am
Quoting JustPipping
{quote} Its all calculated in price before it happens! There are no market makers who sit behind a desk anymore to implement liquidity, its all algorithmic controlled. Since you started on Corona let me find an example: {image} Do you guys think its coincidence thats when Corona is announced a gap and point of interest gets closed on EU? Inducing traders to go short right before they turn around for 1700 pips? Is it pure randomness? Is Corona real or created to keep the ball rolling? Its all manipulation and if you know what to look for you can...

Wow ... broer. Are you crazy ?
Thanks for analysis

Nakamoto must create new reality/new scenario based on placebo EFFECT in order to maintain his authority at all cost.

All flash crash and economic crisis is created by design. They know how to move yield curve spread and they know how global trader and global central bank will react.

What the INTENT ?
most importantlly, what is the opportunity in charts they create for us ?

Stop judge Him, no matter what the implication.
So we can look for opportunity in chaos He create by design.

And BACK TO BECOME TRADER AGAIN and again.

We can only surf with chaos and fragility. With our most powerful tool : OUR DISCRETION

And get smile. Are you all agree with me ?

Uhhh ... my fucking mouth said too loud. Very uncontrolable.
  • #3,357
  • Aug 21, 2021 7:44am Aug 21, 2021 7:44am
Quoting STrading
{quote} In that study it appears that they gathered monthly info from several brokers and made a average. The problem is that it doesnt give an accurate number, lets say from that year you end up being profitable on 4 months and lose on the other 8 months and thousands of people are in a similar situation, they make money for a few months but they lose for the rest of the year, So every month you will have a x% amount of people that are profitable but most probably will end the year losing money. So in the end all that study says is that there is...
Exactly my point. As a matter of fact I think that on a long run less than 1% of traders are profitable. And out of this 1%, maybe 20% make real money.
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #3,358
  • Aug 21, 2021 7:46am Aug 21, 2021 7:46am
Quoting STrading
{quote} In that study it appears that they gathered monthly info from several brokers and made a average. The problem is that it doesnt give an accurate number, lets say from that year you end up being profitable on 4 months and lose on the other 8 months and thousands of people are in a similar situation, they make money for a few months but they lose for the rest of the year, So every month you will have a x% amount of people that are profitable but most probably will end the year losing money. So in the end all that study says is that there is...
Extrapolating the probability tells us the expected value for those traders able to do it consistently over a few years is a miniscule figure.

However, on FF don't expect members to accept this stark reality given it kills the fantasy for many members here.

Quoting bfx17
{quote} Exactly my point. As a matter of fact I think that on a long run less than 1% of traders are profitable. And out of this 1%, maybe 20% make real money.
Hi B, you're generous with your figures, the real % is a lot less than that, under 0.1%.
Know what you trade
  • #3,359
  • Aug 21, 2021 7:46am Aug 21, 2021 7:46am
Quoting JustPipping
{quote} Its all calculated in price before it happens! There are no market makers who sit behind a desk anymore to implement liquidity, its all algorithmic controlled. Since you started on Corona let me find an example: {image} Do you guys think its coincidence thats when Corona is announced a gap and point of interest gets closed on EU? Inducing traders to go short right before they turn around for 1700 pips? Is it pure randomness? Is Corona real or created to keep the ball rolling? Its all manipulation and if you know what to look for you can...
Mr. Pimpin, you are back. So what are up to this time? Because your last attempt didnt go too well.
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #3,360
  • Aug 21, 2021 8:04am Aug 21, 2021 8:04am
Quoting BWilliam
{quote} Extrapolating the probability tells us the expected value for those traders able to do it consistently over a few years is a miniscule figure. However, on FF don't expect members to accept this stark reality given it kills the fantasy for many members here. {quote} Hi B, you're generous with your figures, the real % is a lot less than that, under 0.1%.
Indeed, lets just say that the value of that "less than 1%" is closer to 0 than closer to 1%.

We agree on something, so I hope you wont delete your post

EDIT: or edit it again
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
9 traders viewing now