The brutal truth of day trading

IMHO

1) That you say is a product of a personal experience that is not the reality of most of the people who trade in this world.
2) Of course there are short-term tradable patterns with predictive value, below the minute timeframe if you wish. Yes, they are there and the information is public and spread enough.
3) The only problem you have with lower timeframes is that the broker's comission and the leverage needed when volatility is low, is much higher than when swing or position trading. But the rest it is the same exactly. Each frequency you choose to trade (not necessarily timeframe) has its own characteristics you need to work on.

I think #2 this is specially important for new traders. Yes, there are repeated patterns every day at every timeframe that you could be trading almost the tick chart an nothing else. There are so many easy and absurd patterns that it is overwhelming.

The fact is that it is really hard to spot a decent pattern figure out and how to exploit it, even if you are taught, it does not make a lot of difference for most people.

the brutal truth about long term trading is that it is boring AF... diversification, dividends and stuff like that, and Benjamin Graham... day trading was fun (but also very frustrating )

It is boring i agree, but your patience will be rewarded generously.

Using top down fundamental analysis combined with bottom up analysis techniques of Ben Graham will do the trick in the stock market.

It seems u know what you are talking about

you need some serious balls as well lool

trading swings.. sit in dd sometimes 2-3 months with 1 trade. but this is done by EA.

for longterm trading interesting part is develop EAs, launch them and then just monitor and dont thing so much what they do and why but deal with next EA development.

yeah, EA development is fun AF... developing new strategies in general is fun... but it's not hard to analyze a monthly chart.

I don't need an EA to know if the stock market is a bull or a bear market

I mean, certainly I don't need to learn programming to trade stocks long term.

Most retail traders are "day traders". Most retail traders blow their accounts and lose. See any correlation?

Mostl traders take way too many losers in one day. It's like man just stop!! today ain't it!! Maybe tomorrow will be. That's an account killer.
That and risking way to much on one trade then changing your risk the next trade. 0 consistency and setup hopping trying to avoid losers. No one will never not have losing trades or even days ..

There are benefits to day trading as you can gain trader tax status. You can't do that swing trading because you're considered an "investor" by US tax code if you don't trade enough but don't over trade!! It's a balance

"If you trade with an approach that has a statistical edge and you follow it rigorously, like a casino, you cannot lose in the long term."

I am a day-trader and sometimes a swing trader. I do have a statistical edge that I follow when I trade and I stick to it no matter what..which is what makes it work. I also agree that the simpler your edge, the better it is.

Only after seeing the results of the vote, I found that as traders, everyone's trading methods tend to be more within the daily line, and there are really not many trends.

I thought to share this with newbies and traders looking for a guide to develop a process based system for their day trading.

Quite simple and straight forward approach.

https://www.tradingsetupsreview.com/...trategy-works/

5 DAY TRADER’S TRICKS TO CONTROL YOUR EMOTIONS

Day traders must control their emotions. The slightest lapse in controlling your emotions will ruin your accumulated hard-earned profits overnight.
For instance, after having several losses in a trading session, you are afraid of having a losing day. This fear spurs you to over-leverage and blow up your trading account with a single trade.
How many times have you blown up your trading account because you lost control of your emotions?
Furthermore, having your emotions on a roller coaster everyday is not sustainable.

Most day traders understand that trading is a game of probabilities. We know that we should control our emotions and stay detached from the results of each trade. We have also read dozens of trading maxims that sound like these.

1. Don’t marry your positions.
2. Don’t be affected by fear and greed.

While these straightforward statements are great reminders, they are of little practical value. This is because they do not show you the exact action to take when you are actually trading.
Day trading requires focus. Day trading setups are fleeting. Hence, it is crucial for day traders to know exactly what to do to control their emotions while trading. They do not have time to ponder on vague statements.
What can you do exactly to control your emotions?

Follow these five day trader’s tricks if you have problems controlling your emotions.

1. TAKE A WALK AFTER EACH TRADE.
Even if it’s just for a minute.
Given the fast and furious nature of day trading, it is too easy to get trapped in the sea of emotions.
Walking away from your trading screen is a deliberate break in your trading tempo. It is a physical action that you take to control your trading tempo. This simple act clears your mind and reminds you that you are in control.

Listening to music also helps to detach you from the market
The market does not drag you into a trade. Quite the opposite. You can walk away from the market any time you want. You are in control.

2. FIND OUT THE LEAST VOLATILE HOUR OF THE TRADING SESSION.
Read a book during that hour.
Most day trading strategies work best when price action is volatile. Trying to trade when a congested market leads to frustration. Anger follows. Then, your emotional dam is pretty much broken.
The easiest solution is take a break when the markets are going nowhere.
Plus, you get to read the latest novel from your favourite author.
However, do not read anything to do with trading. Trading books give you trading ideas. You might be tempted to try those ideas immediately. Trading ideas, before becoming part of a consistent trading plan, are losing propositions.

3. STOP TRADING AFTER THREE CONSECUTIVE WINS OR LOSSES.
Three consecutive wins make you feel like a super trader. You think that you cannot lose. You are invincible. You over-leverage and overtrade.
Three consecutive losses make you feel like a loser. You don’t want to lose. Your emotions explode. You revenge trade.
When a certain event happens for three times in a row, it is tough not to get affected by it. Let’s evade this problem altogether and stop trading after three consecutive wins or losses.

4. DON’T LOOK AT YOUR PROFIT AND LOSS WHILE YOU ARE TRADING.
I can hardly think of a figure that causes a greater surge of emotions than your profit and loss figure. To many traders, the profit and loss figure is an expression of their self-worth. (Nope. You are greater than just your profit and loss.)
If you follow the your most important trading rule and have a daily loss limit in place, you are already protected from severe losses. Hence, you do not need to check your profit and loss figure constantly.
Whenever you feel like peeping at your profit and loss for the session, read your trading rules.

5. ASK YOURSELF: “AM I SCARED?”
Fear is an intense and destructive emotion that traders often encounter.

1. When you are watching your trades unfold, keep asking yourself: “Am I scared?”
2. At any point, if you answer “Yes”. Exit immediately.
3. Review your trading rules.
4. Reduce your trading size.
5. Repeat.

MASTER YOUR EMOTIONS FOR LONG-TERM DAY TRADING SUCCESS
Control over your emotions does not give you a trading edge. This is because your trading edge depends on your trading method. However, you need to master your emotions for long-term trading success.
With the five tricks above, your nerves will get a slow boat cruise instead of a roller coaster ride.
Learning to control your emotions requires persistence. Over time, you will start to perceive the benefits of keeping your emotions under control. These benefits serve as positive reinforcement to your brain to continue good emotional habits and responses.
It takes time. But if you persist, it does get easier.

with all friendship

Anyone who is afraid should remain a demotrader.
Quite simple
anyone who can't do it is simply stupid.

This is an interactive forum and people are welcome to add value, share ideas, experiences and lift those struggling. Moreover it should also be a source of information.

So uttering such statement is uncalled for and unprofessional. We all are aspiring for long term goals so we need each others back. If such posts do not suit you, skip and move to the next. There are ppl who will value such posts and always make reference to them. This is a community of traders who come from all parts of the world to connect with one another. If certain posts are misleading, you know what to do.

So not a good response from you.

and wish you a successful trading career.

the brutal truth is.
If you want to drill a hole, you need a real drill.
If you want to act properly, you need the right tools and knowledge.

praying to god or jesus !!!!

will not help you,
the stock market is not a church.

Good, now if you have something to share to make a point do so rather than trolling posts, making sarcastic comments, posting animal pictures on a thread like this. You learnt how to trade by reading books and putting in the effort to practice what you have read. You didnt just open a trading account and started trading. Every trader has to go through a phase before getting that level satisfaction.

Questions are asked here. No single one person knows it all. If you isolated yourself for 5 yrs to master the skill to trade and put in 12hrs a day let whoever know so he/she starts to have an idea of what it is. I chose to give back to the comm.. as i am on the journey myself. I am open to learning too and every single day.