Give an hammer to 2 different guys. One will build a castle and the other one will fail at his first nail.... It's not really what you are using, but how you use it.
Yet again you give a good description of why new folks are crazy to get involved in day trading when you do not need to do anywhere near that amount of work for longer timescales. Takes many years to learn how to do very little.... decide which games you can win.
I totally agree with what you are posting, day trading/scalping, most have to do double of percents compared to long term trading because of all the commissions. To me it is the risk, actually have far greater risk in intraday trading than anything over 29 minutes cause I hedge. You have so much more you have to remember scalping to day trading, small errors you lose trades, whereas long term you have time. Maybe it is the years that went by for me, but the scalping did made me a better long term trader, re-inforces concepts of whether I should be even taking some trades based on the past.
I don’t know that moving average crossovers “work” or not, but I do know when they happen to be crossed, I use a whole different set of rules.. not because they have crossed, but because they had to.
I totally agree. With your year of experience I am sure you are very good on long therm. And the strong foundation of scalping allows you navigate free as a boat captain who started F as a mechanic. He will never find himself in hopeless situation. For me to discover scalping/daytday trading a givelation, I finally feel free to learn to flow with the markets! We, againe, our story is differant, I guess no one else experienced tbe start as kufs - decent seven numbers capital and Suisse banksters out if USA.
Agree. But to get teachers really give you shortcut of your learning curve. And to stay connected with other traders, I am so happy that after nine years of isolation we are on ET! Yesterday was one month and the level of self-confidence, the inner joy are totally differant now! Which for my view are essential components, together with devotion, focus and deep work on yourself.