One thing I can say is that day trading is the hardest timeframe to start with. It is possible to make a living out of it but for someone that is starting out it is closer to gambling than anything else.
I would suggest you to start with swing trading as a way to build patience and resilience, let's say on weekly timeframes, then if you are successful in these longer timeframes move to shorter and noisier action.
There are many cases of traders that start with day trading and blow their accounts in days.
Yes I have observed this, as I get better I'm able to switch between timeframes from 1H to 1D. But I also look at 15m, 30m, 45m and 1W just to see confirmations..
Yes I'm one of those traders, who blow up their account. But the thing I learned why I blew up the account is the lack of knowledge with fundamental analysis.
I underestimated what the geopolitcal events can do to the charts; meaning even if I thought it doesn't make sense anymore for DXY to still go up, but because of the geopolitical events, it did and I was stubborn enough to accept I'm wrong.
My theory is that DXY is in a bubble right now for some whatever reason, that it'll colapse anytime soon.. Last monday I've been bearish with it but it just kept on making higher highs.
And the problem is that I only realize what made this happen when I blew up my account and humble enough to stepback (which is a painful lesson).
This is the link of my page where I think you can get an idea of my strategy. I was doing livestreams on this too, but I realized that my software for it isn't working well when i switch tabs so I just kinda stopped doing it.
But again you will still see me execute my trades and its results if you skip.
facebook.com/simeoncapital/photos/a.111012368374663/121819090627324/
