The brutal truth of day trading | Page 188 | Forex Factory

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The brutal truth of day trading

  • #3,741
  • Dec 18, 2021 4:16am Dec 18, 2021 4:16am
Quoting kette
{image}
Lol Kette...but who is who?
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #3,742
  • Dec 18, 2021 6:54am Dec 18, 2021 6:54am
Quoting bfx17
{quote} Lol Kette...but who is who?

???



you are friends now

in a friendship size does not matter
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  • #3,743
  • Dec 18, 2021 7:31am Dec 18, 2021 7:31am
Quoting kette
{quote} ??? you are friends now in a friendship size does not matter {image}
Lol
Without despair & distraught, focus on Patience to FRESH MOTiVES.
  • #3,744
  • Dec 18, 2021 10:49am Dec 18, 2021 10:49am
Quoting kette
{quote} ??? you are friends now in a friendship size does not matter {image}
On ignore list of scammers, deceivers and low IQ individuals. Exclusively
  • #3,745
  • Dec 21, 2021 4:02am Dec 21, 2021 4:02am
IF your execution is bad, backtest more

IF your emotion control is bad, meditate more

IF your system is bad, practice more

Dont waste your time doing nothing.. if you really want to take day trading to the next level.
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #3,746
  • Dec 29, 2021 2:22pm Dec 29, 2021 2:22pm
Quoting Aussi
{quote} all are welcome on my thread except those that cause and want to disrupt for the sake of it , like your post thats why i have a ban hammer for under age kids like your self
you started 0.1 and instantly 100 lot, Joker started 0.03 a couple of months, 15lot x40 pieces, believe me crazy
  • #3,747
  • Dec 29, 2021 2:26pm Dec 29, 2021 2:26pm
Quoting paavo59
{quote} you started 0.1 and instantly 100 lot, Joker started 0.03 a couple of months, 15lot x40 pieces, believe me crazy
because you turn 100, get rid of?
  • #3,748
  • Dec 30, 2021 2:03am Dec 30, 2021 2:03am
Quoting pipibrasci
IF your execution is bad, backtest more IF your emotion control is bad, meditate more IF your system is bad, practice more Dont waste your time doing nothing.. if you really want to take day trading to the next level.
That’s very correct. I believe that the most brutal truth about day trading is that the odds are always against your success, and you are only working hard for tilting those odds in your favor. If at any point you lose the will to work hard, you are doomed to fail.
  • #3,749
  • Dec 30, 2021 2:07am Dec 30, 2021 2:07am
Quoting Epeolatry
{quote} That’s very correct. I believe that the most brutal truth about day trading is that the odds are always against your success, and you are only working hard for tilting those odds in your favor. If at any point you lose the will to work hard, you are doomed to fail.

....""If at any point you lose the will to work hard, you are doomed to fail"".
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #3,750
  • Jan 5, 2022 12:51pm Jan 5, 2022 12:51pm
Hi everyone, I'm new to trading, anyone have tried schaff trend cycle or heikin ashi or renko? are those any good for day or swing trading?
  • #3,751
  • Jan 5, 2022 6:35pm Jan 5, 2022 6:35pm
Quoting activedream
Hi everyone, I'm new to trading, anyone have tried schaff trend cycle or heikin ashi or renko? are those any good for day or swing trading?
Buddy, skip all those fancy indicators. Have a look at order flow trading, market structures, auction market theory, Dow theory.
Maybe the only indicator u would find useful is pivot (for me personally)
You are hearing from a guy walking down those deadends with those fking indicators for 10yr and recently got his eyes opened.
  • #3,752
  • Jan 6, 2022 6:21am Jan 6, 2022 6:21am
Hi @chrislamb,
Thank you for your suggestion
Any books or courses that you recommend to learn?
  • #3,753
  • Jan 7, 2022 6:11pm Jan 7, 2022 6:11pm
Quoting activedream
Hi @chrislamb, Thank you for your suggestion Any books or courses that you recommend to learn?
Sadly no, i started to look at those concepts first on Internet and then develop my own trading ideas.
But go to Babypips first, the basics there are fine.
  • #3,754
  • Jan 7, 2022 7:36pm Jan 7, 2022 7:36pm
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  • #3,755
  • Jan 9, 2022 5:00am Jan 9, 2022 5:00am
Holding on to losing trades and snapping profits VS Holding on to winning trades and snapping losses.

The latter, a skill that comes with experience and hardwork. It must be developed.
Grit; Knowledge; Right Mindset; All you need to overcome. KIS!
  • #3,756
  • Jan 9, 2022 5:05am Jan 9, 2022 5:05am
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  • #3,757
  • Jan 12, 2022 4:12pm Jan 12, 2022 4:12pm
Quoting paavo59
{quote} you started 0.1 and instantly 100 lot, Joker started 0.03 a couple of months, 15lot x40 pieces, believe me crazy
again you shown us what jealous little thingy you are , joker is a good trader but however you who blows your account every week is never going to be
people leave, but this thread will go on for ever
  • #3,758
  • Jan 12, 2022 6:16pm Jan 12, 2022 6:16pm
Quoting bfx17
{quote} I have a suggestion, if I may...why dont you invite Peter on your thread...he would fit perfect in there...only milionaires, 1000lots per trade, 100% hit rate, real accounts only etc... the Fantasy Thread...yeahhhhh Cheers PS you can use the Fantasy Thread name for your thread if you like...I think it would better reflect the content of it...it is free of charge, no copyrigts
Still a loser I see bfx17

Tell me/us,
bfx what does It stand for?
and Is 17 your age, because 17 sounds about right.

  • #3,759
  • Jan 14, 2022 10:53am Jan 14, 2022 10:53am
The brutal truth?

People are way too ambitious with their daily goals or are scared to take an L

its either that or they limit their upside but never limit their downside.

they really dont understand what it means to cut losses and let winners run

if i have a TP target on a specific trade. thats fine

whats not ok is saying i'll get x pips a day. you take whatever your setup gives you. because tomorrow could be a low volatility day. then what? you could have taken a bunch of setups the day before but you were like "naw 10 pips today. im fine. im scared of the market" if you have a good setup, you wouldnt be scared to pull the trigger each and every time you were supposed to (psychology related)

then they just keep trading even if they lose 15% of their account in one day. limit your losses maybe stop trading after a loss of 3% capital that day.

this is really what that phrase means.
  • #3,760
  • Jan 16, 2022 8:51am Jan 16, 2022 8:51am
Quoting remonpilip
They have a highly subjective system with no way to test them. Don’t be surprised if you lose your money! There, you got 20 years of trading advice for free! I challenge you to prove me wrong!
You are wrong.

I have heard it time and time again, from successful traders who attempted day trading, failed, but found success on higher timeframes that it was not possible to make money day trading.......but all this really means is that low time frame trading is much harder than high time frame trading and all the standard tools, tricks, candle patterns that most traders are taught to look out for and frame their trades against, doesn't really count for much on the lower time frames. When it comes to trading lower time frame markets, "almost everything you know about trading, is wrong".

Thus if you were to say that a trader attempting to day trade has a much lower chance of success than a swing trader, who in turn has a much lower chance of success than a position trader, then that would be hard to argue against.

I won't bullshit ya, I am yet to achieve actual real world consistent success trading low time frames and I realise (from first hand experience on more than one occassion) that all it takes is one rush of blood to the head and a bit of bad luck, to totally wreck a nicely growing account.......but I could take you through any market at any point in history, in replay mode, and call a number of trades using the 15min or even the 5 minute chart as my signal timeframe, most of which will be profitable....granted replay mode does take away the element of trader resolve as the notional trades are placed and 8 hours worth of price action is casually flicked through within 30 seconds.....but it also lacks the much higher level of focus and intuition involved in taking real time trades.

It is doable.

I conclude that at least some of the self proclaimed successful day traders out there.....really are successful. I have only been at this 3 years (albeit pretty full-on) and I can already see the inevitable light at the end of the tunnel. Some people here being doing this for 10-15 years, or longer. Of course these guys are going to have an edge over the market....at least some of them anyways.
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