Completely New To Day Trading and Would Love Some Honest Advice

Laissez Faire said:
So, if someone with 30 years of experience threw in the towel at some point
More...
i did .....

stayed clean for 2-3m years

then had a fall from my two wheeler was in bed for 2 months and then watched netflix for a bit

then had time to think about things for a while, with the brain clean and then understood what i had not understood in 20 years.

now i am where i want to be in my trading.

all because and maybe by accident..... tried actively to learn day trading for 20 years and failed miserably.

there is a lesson here for newbies


let things happen do not over think it ; it will happen in it's own time.
 
i think one main reason newbies lose in trading -i made that mistake for 20 years- is to look for countertrend trades or reversal trades.

most reversals become corrections or trading ranges or both: corrective ranges.

there
can be no doubt that for a trend to reverse the other side has to become equally as strong and so the first sign that the counter trend traders are getting aggressive and more confident will manifest it self technically as a trading range.

so the advice buy the dips has to be taken with a bit of salt

 
rb7 said:
Take any advice with a grain of salt (including mine!).
Taking advice from anonymous strangers is always risky.
In trading forums, most of the participants don't trade with real money, and/or never did.
And the ones who do, most are not profitable and will never be.
The list of whom had given you advices so far is the best example.
More...
%%
You have some good points Rb7;
but also proves how you cant really predict.
Even in a smaller\ more difficult market like daytrading.
Another one of your good points follows;
salt market changed so much, used to be so valuable to payday in salt[salary]:D:D[EDIT,MCD now gives away, free salt]
 
padutrader said:
i did .....

stayed clean for 2-3m years

then had a fall from my two wheeler was in bed for 2 months and then watched netflix for a bit

then had time to think about things for a while, with the brain clean and then understood what i had not understood in 20 years.

now i am where i want to be in my trading.
More...

How much did you make after your comeback and over how long a period/sample size?

Honestly, that's the only relevant metric... :)
 
padutrader said:
i think one main reason newbies lose in trading -i made that mistake for 20 years- is to look for countertrend trades or reversal trades.

most reversals become corrections or trading ranges or both: corrective ranges.
More...
Most noobs fail because they get married to their position. Just look at all these folks who get all angry when someone suggests the market is about to reverse. Noobs.

See the market from both angles and learn how to "flip" trades, when necessary. :sneaky:
 
You must log in or register to reply here.
Back
Top