I wanted to start a thread pointing out mainly my negative view towards the advice given out on this forum in regards to day trading. Many people come here for help only to get shot down by failed angry traders. Many opinions are given by people who do not trade successfully for a living. Last alot of the advice is not meant for daytrading. My definition of day trading is putting on at least a couple of trades per day. Risk something like 200/300 per day to make 500or more per day (lets say 1,000 shares of a liquid stock) (or 1es contract) The only person dishing out advice off the top of my head is Nodoji (i know there are definitely more here) because I know she trades real time with real signals (trading Cl sometimes within. 5 cents.) This to ME is REAL DAYTRADING and the type of person you should take advice on "day trading" I don't know. Maybe my version of day trading is more short term then most on this forum. But my point is not to listen to many people who tell you this or that and then say it like it's undisputed fact. Be careful Anyways my point if I was new to trading I would be cautious to who you are listening to because they are likely not making money Everyday from trading. Listen to people who can give you advice from their trial AND error. Listen to people who can show profitable trades. Listen to people who make accurate market calls. Listen to people who can show the ability to adapt and change opinion about PRICE ONLY (if your day trading) DONT listen to people who say they know it all. DONT listen to people who tell you doomed to fail. DONT listen to people saying this or that is the end all be al The only people who will make money Everyday are the people who say. This means long. This means short. This means do nothing. Short here, cover here. Done. anyways thats my long 2 cents
Greetings Petrobras, well this is a free forum, it is normal that there are always unfriendly people who only want to troll around because this is their job as a troll, its their life philospy, you know, this is on every forum on the net the same, accept it or dont write in a forum. ------------ Day trading doesnt mean you have to do a certain number of trades a day, it means that you open and close your trade within 24h. I for myself do 1 - 2 daytrades a day, sometime 3 depending on the action in the markets. but i am happy with 1. a normal day trade goes from 8h - 24h. For me my daytrading is very much more stressing me than my swingtrading, yeah, this is normal, i know - so sometime i am just too lazy to daytrade and just manage my swing positions. -------------- Did you just want to tell us your opinion about the angry loosing traders here or do you have any questions ???? Here are many successfull daytraders, ask what you want and wait, then you will get a useful answer. (not every pro trader is 24h online, there are still other things in life, than trading and surfing in ET) God bless you and a happy friday. best regards
Some good things to keep in mind there! One thing that has been a challenge to me since I have been browsing this site is to be able to clear my mind when needed. There are so many different opinions throughout the forums. People argue about stuff all the time. Some even go further and attack others personally. I try to understand different perspectives. However, when stepping away from the forum and entering a trade, I've found it a challenge to hold a trade with all the "noise". I tend to be a short-term trader. But, desire to hold trades longer. To clear my mind, I have started jogging more. I read that Bill Gross does Yoga before trading in the morning. I may give that a go. I wonder if there are others that do Yoga for that reason? Cheers!
Hate the risk. I understand not every pro is waiting to post here and there ARE many people here who are good and offer good advice. I don't have any questions I'm just saying when I started out. When you are super confused and frustrated. It is hard to spot the one good post out of the 10 other non helpful ones. Because your confused! A.Allen - If what you mean about noise your talking about the people here influencing your trading (either Mentally or actual strategies) I would do everything to ONLY listen to yourself. Whatever you know is the only thing good enough to make $$ that day. And as far as yoga. Unwinding and preparing yourself for trading are super important. If yoga helps I'd definitely DO it. exercise helps the mind for sure
A lot of people here aren't friendly when noobies post to say should I get into trading, b/c 95% of the time, the correct answer is NO. People are trying to help no matter how condisending they act. In my opinion, becoming a professional trader is similar in difficulty as becoming a professional baseball player. Its possible, but unlikely. You've got a bunch of players that make single, double, or triple A ball but can't make it to the big leagues.
There are a lot of angry failed day traders here but that is the case for all trading forums. Day traders have been failing in droves forever. I mean really, when you only have a 5% success rate there are a bunch out there. The problem is the bad attitudes that are directed toward that 5% have a tendency to discourage any new people coming on. Someone said that even the condescending people are trying to help is plain wrong. You don't create success by constantly chastising them, picking on them or attacking there self esteem. Day Trading, by definition, here in the United States is trading between pre-market and market close where one holds no open positions after the close. That could mean taking 50 trades a day or 1. NoDoji is a great example of a real trader that offers solid non-offensive advice. There are others on here but most have been attacked and driven underground, being turned into lurkers, gotten new aliases or just moved to other sites that are more regulated against individuals being terrorized. You've made some great points in your opening post. I'll just add to not trust anyone or anything that you can't verify on your own, on your own screens in real time. As soon as you hear or see someone say, "trust me or I guarantee", run like hell!
You need to find a daytrading system or software or short trem trading software and paper trade that to see if it works. You can go to swing-trading-club.com You can send Jeffery Brewer a cotact message to see if he still sells his stock-signal-pro software and or get his pivot trader software. Or just join his trading club and trade along with him each day. He trades full time for the past 10 plus years and created all his software and trading techniques himself. Give it a try, if not I can send him a contact for you.
Wiesman- I agree with you on the pro athelte part. I disagree with 95% not needing adive, or 95% should not start. If people need advice to start they should get it (including how hard it is) then make a deicsion. Also if advice is needed on entry or strategy or risk management they should get it from someone who can actually help. What may happen is 9 out of 10 posts are proabaly useless... and the 1/10 thats actually there to help you.. that is actually legit... (if your a newbie) is impossible to actually spot. let alone understand what it really means. (esp after all the BS you just read......) Thats just my "general"opinion on what happens to threads and replies. Coyln- I agree with everything you said. Its boils down to YOU. YOUR system. Real life trading. Can you make money right now +(today). Why not? Its always boils down to you. yourself, your system