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That has been my experience too. I tend to do lots of small scalps with wins and losses and usually end up breakeven overall. There’s no true edge in it. Got to have some real edge to do consistent big wins (and inevitably small losses) to make real money. But that’s easy said than done. Often I...

I’d say both. You may call it bet or gamble. It doesn’t make any difference to me.

Haha good question! Human nature is to predict. However, in trading one should listen to the market. Still without predictions we cannot function well. Trading is paradoxical per the Market Wizards series author Jack Schwager.

I don’t use any indicators. The logic is if any indicator works consistently like VWAP :) then people will quickly start to use it making it useless again.

This kind of easy trading is not too common, unfortunately. The ability to recognize it while it’s happening is an edge.

50% time trend following and 50% time reversal, if you can tell the difference.

Same WAIT principle for trading: Why Am I Trading? Akways best to let the market show you its intention …… nothing worse than your own wishful thinking. lol

Day trading accounting is very simple, not different from other types of trading. Wash sales may pose a challenge near the end and beginning of the year, if you trade many different products and each has wash sales. If you only trade one or a few stocks, for example it’s pretty straightforward...

Nothing in trading works 100%. It’s an edge to be able to recognize when to use Fib levels, when to modify it and when not to use it at all.

Haha you always have heartburns one way or another. Humans will never escape from their emotions. Otherwise, we cease to be humans. That’s why I agree algo trading has a huge advantage over discretionary manual trading. But most of us don’t have the ability to program algos. That itself is not...

Well, that’s a tall order. Overcoming human emotions in trading is the hardest part itself. I would venture to say it’s the biggest factor why most traders fail, even for those with real edge.

Day high/day low or both are usually reached in the 1-2 hr of the day. Then there are Fibonacci levels, mostly the mathematical middle level of high/low price, etc. However, prive movements between 2 price levels are rather random, for example between day high and day low, or day high and...

I just look at the real time P/L. If the price doesn’t go my way within a few minutes I am out. For me I lose all objectivity once I am in the market so no point to look at the chart.

Price movement can be quite random but price levels are not.

Well if you don’t have a defined real edge risk management can be your only edge. As to whether one can make decent profit from that alone it’s anyone’s guess.

At least for me my edge, if I believe it, won’t let me lose 5 trades in a row unless it’s caused by some other obvious reasons, such as emotional issues. Otherwise, I need to seriously consider if it’s a real edge. YMMV.

If I lose a few trades conservatively I just stop trading for a good while.

I encountered a similar scam on a Chinese app called WeChat a few years ago.

These kind of online scams are very common in Asia/China/Thailand/Taiwan, etc. I didn’t know some of scammers were good at English. lol I heard during the holidays from a local friend that his friend (who I don’t know) on the east coast was scammed out of nearly $1M. From what I heard the scam...