haha why do you think I'm a bot, I'm commenting on the main post. I went through the same thing. Completely changed my view on day trading and shifted from swing trading to daytrading.
changing my mind on day trading
- Thread starter Jdesey
- Start date
ok. now you sound like a nonbot.
I also changed from investing to swing trading to day trading.
Interesting... sounds like fun
I fall asleep everyday at 6 p.m. and wake at 9 again and sleep at 2 a.m. and wake 8 a.m. lol
Interesting... sounds like fun
I fall asleep everyday at 6 p.m. and wake at 9 again and sleep at 2 a.m. and wake 8 a.m. lol
Day trading is risky but can be very profitable if done carefully. I think a common problem with most day traders is that they think that they are obliged to make tens or hundreds of trades in a day. However, there isn't any such rule. Personally, I never take more than 3 trades a day and it’s working perfectly well for me.
Then, by his own definition, isn't Sprout self-identifying as a futile trader trying to change the mind of others?
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Day trading, if well executed, IS great. You don't tie up capital, so you can flip, flip, flip fully capitalized again, and again, and again. If you end the day flat, it doesn't matter what the market does in any session, on any open. Next day you get to cherry pick a brand new entry point. Of course if you screw something up, it can go sour, so craft matters.
There's another reason you don't see a lot of raving articles about day trading. Good day traders have found something that consistently works for them. Part of that means staying grounded, within yourself, keeping a level head, not getting cocky. "Staying in the zone," so to speak. If it's working, they don't need to tout it publicly, there's no underlying need to be heard. Doing so only creates risk. Since they know most traders don't make money, why take on the headache of a lot of grumpy comments from naysayers? It's a distraction that risks throwing them off their game. The good ones only engage to improve craft, but not that often, since they're busy and already doing well. They stay low profile.
Side Note:
2-3 trades per day isn't really scalping. Intra-day swinging or "flipping" is more accurate, since normal industry scalping at trading houses is about one every two minutes. I scalp every day and usually end up with between 500-1500 trades by day's end, no automation is involved, just special software for lightning speed on ordering, fills, and exits, which allows for me to focus on reading momentum instead of fumbling with orders.