Idiot threads like this is why I stopped visiting this website. oilfxpro, why don't you go piss at somebody else.'s parade. What function can you be serving other than to justify your inabilities? Don Bright stated the actual case. You, sir, are a whiner, or is that wiener
You confuse psychology with psychiatry. I don't have patients, I have clients and success rate of fixing their problems in the long-term is much higher than 5%, believe me. P. S. What is your education to judge in such a wide range of knowledge from trading to psychology?
Do you have any valid points to enlighten anybody , other than attack posters? Let me ask you a question ? Can you make money in the long run using charts, TA, etc? Everybody can read the same charts ,the market is efficient and unless you know something market does not know , your statistical edge is in the 95 % club. George Sorros said " you can make money betting on the unknown in today's markets , because everybody knows what is on the charts "
Probably not, that's why traders never rely just on such things. We probably spend less than 10% of our training and trading on any TA. Don
Day Trading is a losing proposition due to the fact that people can't stomach losing their own money. They are ill informed and not seasoned enough to see trades through. If Day Trading was so much fun, every would be doing it! You can't make a fortune trading a couple of hundred shares a day. I traded with my firm's capital for over 25 years and I would NEVER Day trade on my own.
Makes sense. I assume you were trading order flow with a MM firm? I may be wrong. We came from the other side of the street, as always using our own money to trade with. I prefer traders who want to take both the financial risk, and the must needed time risk....it takes some time, off trading hours to keep all your profits. We've always responded to what the market throws, providing liquidity when viable, and making markets when required. Now we can simply do what we want to do, much easier overall. All the best, Don
Proof=My P&L. Check my recent posts, I posted it somewhere. What's the problem dude? There are successful day traders. Most I know agree day trading is not the best compared to larger time frames, however it is the only place to start (generally) as a tiny retail trader. When you haven't figured it out yet (you and daytrading), it becomes stressful and convincing that it is not possible. There are secrets to day trading, none of which are related to traditional indicators of any kind. Once you realize the fundamentals of how day trading works, then you can become a very good discretionary trader with huge profit factors. Automation will not work as well for day trades (not MM). Arguably it's even easier for some equities. So a crappy blue chip company has huge volume before the open-what do you think is going to happen? A random walk small range?? Personally I like larger time frames much better. I have a thread on this. That doesn't answer why you are so convinced it's a losers game.
There are many problems which day trading will cause to trader. He/she will form bad habits of small stops and small take profits , this interferes with the mindset of run your profits .They get chopped out with small stops more frequently.They get hurt with small stops when market becomes choppy , stops which would not be hit if they were larger . They can't predict the order flow. The mindset is often caught in short time frame context , they often get caught on the big moves , and on the wrong side. With discretionary trading , they are trading their views , these may be different from the consensus.Discretionary trading has a lot of personality trait issues. Day traders are trying to dance to the tune of every market change ,human's are not able to process so many changes in information and sentiment.
Gawd, I am really disliking the term daytrading. I prefer daygambling. Sounds more appropriate, too. Long time ago, I thought daygambling was a losing endeavor. I no longer think so. Daygambling can and could be a winning respectable profession. Daygambling is like playing poker/blackjack.
Don't forget the small day trader has to figure in transaction costs when they make a decision to buy and sell. It definitely affects your pricing and timing.