OK ok . I make a few points jostling around with WXY only because he calls what the rest of us do as nonsense. I was just pointing out his way is not potentially the best way. Maybe I made it sound like an attack on WXY? It was not mean't to be so. He may be a fine upstanding person. I was just elucidating ...bringing out into the open some WHAT SEEMED TO ME TO BE weaknesses of his approach since he seems to think and express, and is quite vocal about it, that the rest of us have no idea what we are doing. I suppose now in hindsight I should never have mentioned WXY in my post. Maybe his ideas but not his ET name. Sorry WXY. I guess maybe you think I am mentoring. I am just showing people in my journal techniques that I use and have used in scalping. I think I have abundantly made it clear many times that I am doing this for entertainment. I am not advising or telling anyone to trade the way I do. I do sometimes present ideas and concepts that clash with the norms of the trading world. But I am not telling anyone to trade this way. They can practice on a SIM and see if they like it and if it is entertaining. Talking about day trading and scalping is just that..talking and discussing. It is not mean't to raise people's ire. Sorry I will let this rest.
Its not about being right or wrong, it's about how much you win when you are right and how much you lose when you are wrong.
Funny.... funny LOL You are really clear and to the point today aren't you? But there is a difference between clarity and correctness. Or am I incorrect in that statement? Or are you incorrect in your statement? Has day trading or scalping made some very wealthy. If not, why is it even done? If investing has turned out bad in economic downturns for investors and it is not the best way to utilize capital in the financial markets (my opinion) then why is it used as a means to increase one's capital? I gotta stop. There may be no end to this. EW traders: make a killing this year in the markets! Long-term and swing traders: Make a killing this year in the markets! Scalpers: make a killing this year in the market! May all of us have good luck this year. ALL of US: It is unlikely but potentially correct mathematically or could be anyway even if not probable.
Well now maybe he was both? A swing trader and a scalper. Or maybe he went from scalping to swingtrading like livermore. By the way Livermore made and lost 4 fortunes swing trading but probably 90% (or maybe 100%) of the time made a killing scalping the bucket shops. Who knows he never says. But in his story when he needed capital, he among other things resorted back to scalping if he could sneak into a bucket shop unknown.
You should never lose money swing trading lol...you NEVER sell losers...just hold or average down. This is why you should only swing trade etfs. I did a comparison showing that even if you bought SPY at the top in 2022 before the huge drop how much you'd be up now if you averaged down the entire decline.
What I find remarkable is how some people believe that their way is the only way. Must get boring always being right.