"The Secret to Day Trading" Make uncertainty a certainty. Sounds so simple and yet takes years to fill in most of the blanks, and never really get to 100%, always studying. First hour is best hour to do size, almost anything get swallowed up, then rest of the day much less so in most markets cept when reports comes due. Most "secrets" are found by error, in other words you stumbled upon something that retail never knew existed... anything really decent is not written much or not all at all. The most "fun" trades are getting in so to let retail stopped out and to exit when retail are first getting in. First year traders are emotional. I prefer to go long on downcloses and short on upcloses, just makes more sense than breakouts and less risk. Everything is 50/50, where this changes is one's skills at reading "what now", risk management probabilities. If you can program or know someone who can program helps immensely, you have to have the ability to continually challenge yourself, you have to get beyond the profits as they are secondary, you have to love what you do. When majority say it can't be done, find a way. Can you imagine if medicine stopped in 1700s when blood letting was a common practice the get rid of disease? https://www.nytimes.com/1999/12/14/...sident-a-200-year-old-malpractice-debate.html
The secret to day trading is to be able to live comfortably with uncertainly to be able to embrace uncertainly and unpredictability _____
I've met some merchant who says he says it's possible to be consistent in intraday. But with stocks. That's right? Is it easier with stocks?
Hi TTT, Consistency is up to you. For me, spot FX markets work well. For others, options or futures are great and for who ever you talked to, stocks work well. --- Rant starts here --- You have to do the work to learn to be consistent. All the thing mentioned earlier will be needed no matter what timeframe or market you trade. All of those things require a lot of work over a time to nail down. If this was easy, everyone would be a billionaire. This is one of the best logs I've seen. Read through as much as you can. Take on board the mental challenges she had to overcome. This is what trading intraday is like. By the way, NoDoji is exceptional. https://www.elitetrader.com/et/threads/nodojis-day-trading-log.132626/ I'm sorry if this sound harsh, but all the trading books with their bs promises of instant wealth if you just use their software or follow their rules or take their course. You won't succeed that way. We can't "give" you the instant fix you seek. It doesn't exist. The markets are structured and function to confuse you, shake you out and then run off without you. There is no certainty. What worked today may be useless tomorrow. The uncertainty is the reason it's possible to make money. Keep looking at the charts, the Level II if your chosen instrument has it. Watch the way the bars form (the finished candle may be nothing like how it was half way through). What things seem to happen over and over? To succeed, it has to be what you have identified and tested. There is no secret to this game. It's just a long slog while you struggle to overcome all of your personal flaws, wrong beliefs, fears and ill discipline. You'll know when you've cracked it - your account will start to grow consistently. --- Rant ends here --- Good luck TTT, I hope you figure it out.