My opinion is that you have lost money trading and have become a troll.
Day trading difficulties
- Thread starter oilfxpro
- Start date
My opinion is that you have lost money trading and have become a troll.
As with eerything in life it is only as difficult as you make it. Some people just arent cut out for it as some people may not be suited to be a carpenter or anything else. It is not that diifficult in fact I find it much easier to make money daytrading than I do swing trading (buy and hold) But in another thread of yours I thought you were bragging on how you were the only one making money daytrading. My how things change so quickly on ET from master of daytrading to trying to figure out why you cant daytrade.....hmmm , simply amazing!
Ok, but people have given you good advice, and you resort to creating troll threads that attack how they profitably trade. How, would you like if you were a doctor, and a person created a thread about how you don't know how to practice medicine?
Day trading is very difficult ...............trading specific intraday set ups , will give some highly profitable swing entries.
http://www.elitetrader.com/vb/showthread.php?s=&postid=3661814#post3661814
You never complained when people set up multiple marketing threads on same subject , because that is in the interests of sponsors and a few internet marketeers.They can have all these crap threads with biased opinions and posts .
I tried Day Trading last month and I just simply crashed. I guess this is not just for everybody.
If you do not tell about your trading experiences, then those who have shares the same experience/path can not point out to existing options.
The thing is, if one wants to succeed , one has to put in the work : there is no shortcuts.
The work is technical , economics, psychological and spiritual.
But if you really want to be a consistently profitable daytrader, you have to do the work on yourself.
And only you can do it.
Not read the entire thread, just post 1 so if the subjects changed very sorry,
The Secret is small stops and also immediate market direction, switch to Heiken Ashi helps with this.
You need 3 trends, 1 fast, 1 moderately fast, 1 slower, I use 16,42,100 sma currently, direction of 2 of the 3 is required basically, waiting for 3 is to limiting.
Immediate direction is key, if 16 and 42 are going up, but immediate is going down, then you wait for the immediate to turn up, get in, tight SL, if price keeps going your way hold, if price goes 3 pips and stalls play it safe and exit, if it's going to your SL at say -9 don't wait, take the -5 or -3 or whatever, a pip saved is a pip less you have to make.
Basically micro manage the hell out of your trades, but try to only trade with the wind on your back.
Day Trading is not what I'm good at naturally, swing via stocks no issues at all, but not got the cash to play stocks or the time, so daytrading is the challenge I've been working on when I have time for years and nearly there
The Secret is small stops and also immediate market direction, switch to Heiken Ashi helps with this.
You need 3 trends, 1 fast, 1 moderately fast, 1 slower, I use 16,42,100 sma currently, direction of 2 of the 3 is required basically, waiting for 3 is to limiting.
Immediate direction is key, if 16 and 42 are going up, but immediate is going down, then you wait for the immediate to turn up, get in, tight SL, if price keeps going your way hold, if price goes 3 pips and stalls play it safe and exit, if it's going to your SL at say -9 don't wait, take the -5 or -3 or whatever, a pip saved is a pip less you have to make.
Basically micro manage the hell out of your trades, but try to only trade with the wind on your back.
Day Trading is not what I'm good at naturally, swing via stocks no issues at all, but not got the cash to play stocks or the time, so daytrading is the challenge I've been working on when I have time for years and nearly there
I tried Day Trading last month and I just simply crashed. I guess this is not just for everybody.
I can't tell if your joking. It takes much. much longer than a month to learn day trading.
No it takes most people longer, I cracked 16 years+ back Swing trading stocks in about 1 month, but I've been fighting with day trading for years and years so ??
Some people have natural ability there just wired better for day trading, the technical term for them is bastards!!