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Yes - the failure rate is high...but the remaining 10% is consistently making money... food for thought...

umm...trading is not gambling in the sense where outcome is based on coin toss.

That is exactly right....

Probably you mean - high IQ or trying to use that “I” while in the action is detrimental :) You need to use whatever of it you have to prepare for the action. And that preparation time can be quite long....

Jeez... I can only say - please don’t do that gambling. Trading is unfortunately not only about high IQ. Every instrument is different in terms of movement, etc. It would literally take years of looking at the charts before one can find an edge... And even then...you need to be able to...

Sorry to be blunt...but are you sure you have learnt from the past? Gambling based on hype, taking position and not doing anything are few habits that is sure to blow one’s account up.

Such strategy looks great in backtesting. Not in real life. Slippage is extremely high and due to that same reason, quite difficult to put a figure on the risk if price reverses.

I am not a fan of fundamental analysis. But Nifty is probably one of the very few cases where currently the fundamentals and the technicals match - a great combination...

May be.... The chart is the fact - rest all is good conversation..

Just if this helps you...there are numerous smart people who act in the dumbest way when it comes to trading. It is a war. And you need to prepare for it. But as the thread says...you need to know the obvious...otherwise it will all come to a nought. The silver lining is many people lose a lot...

Unfortunately only you yourself can unlock the obvious. But the first lesson has to be stop listening to the experts. And think for youself.

Do you have a rule when to exit when the trade is not working? Even the best of signals have chances of failing. You need to exit to protect your kitty and stop the mental agony. Unfortunately no easy way to learn this...

Once existing stuff starts to get stale ...new ones are needed to keep retail guys busy who endlessly keep searching for the holy grail :)

Sir - you must have made position entry into an art! Given CL is so volatile...

Yes - lately it is moving quite a bit..

@maxinger - have you ever looked at trading the ASX SPI?

Just that you don’t trade price action - does not mean it is useless. The hallmark of a good trader is to have an open mind :)

You are a newbie to trading and you are scalping nasdaq? Sounds like you are new to sky diving and you want to jump without a parachute. In your position, I would try to learn some basic things about trading, trader’s psychology, market movement, etc... This field is a life long learning...no...

Stop market order should execute at market when the stop price is reached. Having said that it has happened a couple of times to me as well in IBKR that a stop order is not triggered. And I had to manually execute it.

So true - that is what makes it such a rewarding journey...