trading reversals will make anyone look like a bad trader,you have to be prepared to take some heat and accept being wrong on every initial trade,it's an averaging type of trade so you dont want to go all in, a lot of times you get in early because it turns early, when it doesnt it some times overshoots,some times the overshoot isnt an overshoot at all, that spot wasn't supp or resistance anymore and you have to take your loss,jinx, your a new trader with a limited bankroll,play this with one lots and add 1 or 2,when it comes in it'll pay even on small size, when it doesn't ..be sure you didn't over bet..you have to cover at whatever dollar figure you allowed this trade to lose.....to profit you willl have to take the ride ,you can't cover early..it won't cover the times your wrong
I'm intrigued now, I am assuming they have info the avg schmuck such as myself doesn't know. That being said that only makes their profitability come easier not certain. We are all just parasites floating in the sea trying to cling to a whale so we can eat the algae off its back. I often wondered if it would be worth trying to get an actual job as a trader. ( at a real firm trading firm capital like a sig or geneva I ain't smart enough to be accepted at one of dem der big banks) And I guess the main advantage is the information floating around. I'm also guessing really successful traders don't trade that much. It seems to me that with all these retail firms they hype cheap commissions and all these crazy gadgets that make you feel like you want to trade more and more. I'm sure some really successful traders do scalp but my guess is that all the big dogs are position players excluding HFT type bs which will probably be regulated out of existence anyway. Sorry none of this has anything to do with learning experiences but it's interesting. In my case I think I just got lucky my 1st few years as a longer term position type trader but when I tried day trading I lost about 30k that year. I don't think I'll ever really "get it" but I know how to make more money than I lose and that seems to be good enough.
Lost about $30K (back in 1999) before realizing that the "little guy" essentially has no chance trying to daytrade equities for a living. Reading this board will make you think otherwise, which is a disservice I think. Started trading again in 2007 but with a very good mentorship arrangement and have had some success. What I learned is 1) bankroll management, 2) trading psychology, 3) full commitment, are CRITICAL. However, I believe it's impossible to succeed without an "edge". This is perhaps informational, perhaps technological, perhaps some super-human intuition.. but it must be something that sets you apart from other traders. By definition it's something that 95% of the traders on here won't have.
Time to stop shilling for that youtube service â and learn to trade for real then⦠donât you thinkâ¦. Look you may or may not be a shill â I donât know or especially careâ¦. But the absolute worst possible way to enter this community is to pump some service straight offâ¦. it just wonât flyâ¦. If youâre an aspiring trader â welcome (and learn to exit your losers quicker) If youâre anything else â then trying to gain acceptance will be impossibleâ¦. Just some friendly feedback RN
I think knowing where to look is very important, and often comes from trial and error with a bit of luck. But knowing how to look saves you a lot of time once you stumble upon where to look.