I found that trying to trade more that 10 times a day per chart, for me anyway, was suicide. 200 is ridiculous. I only day trade for about 4 hours a day tops and 2 or 3 trades per chart in that time frame is comfortable. A lot of my charts average 1 or 2 trades a day maximum. I've watched individuals try to trade a chart like playing a video game and it drives me nuts. It is absolutely no wonder they loose their shirts.
I'm with you on this, 1-2 trade setups on average per time frame per day. I have a very specific sequence that I follow and it occurs across all time frames but it's not trading on any one time frame all day long. Toggling between several times frames, I've found, works wonders. 200 trades a day though....I couldnt handle it
Trading is a closed system, but retail daytrading is not. You're competing against traders at banks, hedge funds, market makers. Basically I think the odds are incredibly weighted against individual traders, especially given the enormous profits that the bank traders extract every day. I do think it's hard for "normal" people to recognize just how stacked the odds are, so it's hard to fault people for trying their luck at it. Daytrading also has a low barrier to entry so you get a lot of people with the get-rich-quick mentality, and a lot of snake-oil salesmen who sell them the dreams. Realize that this board in particular is sponsored by a lot of these snake-oil salesmen, so keep that in mind if you're actually forming opinions based on what you read here.
+1 Many of these sites are set up to brainwash new traders into over trading , and generating commissions for brokers.Some of these sites actively promote over trading ideas.Some of these sites are ibs (introducing broker) and receive huge commission .The bots are programmed for rebuttals on propaganda which would affect the site's interests.
You can see ET sponsor list at the bottom of the website. Most are brokers, prop firms or software/data providers. In addition, they usually do not participate in discussions here at ET. Thus, the only thing you see from them are banner ads or new product announcements. In contrast, the discussions about their products are ET members themselves. Mark
Huh? Sponsors participate in discussions all the time with aliases and directly Are you a sponsor, mentor or Author?
There are www.womentor.com Just like there are consistently profitable day traders. One more thing you were oblivious to.
I know there are many profitable daytraders, and I know you are not one of them. Dare ya to post even a SINGLE live trade.