Difference between newbie struggling trader vs successful trader

Struggling newbie: unlucky, betting on the bull run starting 2007.

Successful trader: lucky, betting on the bull run starting 2009.

With a little bid of luck any newbie can be successful.

In all seriousness, skill is important but don't overlook the element of luck, it is often more important than skill.
 
maxinger said:
well. some penny stocks are rather tradable when it is trendy.
trendy - movement is definite, rather organized.
Untrendy - movement is messy, chaotic, disorganized
In that sense, TSLA is rather untrendy
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True, tradable, trendy;
+ named ''penny stocks'' for a good reason; no telling how many of them are worth much more than TSLA. :D:D,:caution: :cool::cool::cool::cool::cool::cool::cool: LOL
 
Mostly no difference between them.
They could have
similar computer,
similar trading platform,
similar charting software,
similar education background,
similar IQ,
same trading coach

difference is in their mindset.
 
maxinger said:
newbie trader :
Do not use short term time frame chart like 1 min chart.
It is very very noisy. Use longer time frame chart like hourly chart.


professional trader :
Use 1 min, 5 min or 15 min .... chart depending on market condition.
Or use small, medium or large ... volume chart depending on market condition.
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But the 1 min is noisy. You are being fed new information every minute. Its very difficult to keep up with price action while you watch a bar close every minute (i've scalped off and on for years. I'm not saying its impossible)

The hourly chart shows a better view of what market participants are doing compared to the 1 minute, and you have plenty of time to make a solid, well informed decision on a trade. Regardless of newbie or professional, giving yourself the time to analyze, process, and react to information makes a world of difference when trading.
 
EsKiller said:
But the 1 min is noisy. You are being fed new information every minute. Its very difficult to keep up with price action while you watch a bar close every minute (i've scalped off and on for years. I'm not saying its impossible)

The hourly chart shows a better view of what market participants are doing compared to the 1 minute, and you have plenty of time to make a solid, well informed decision on a trade. Regardless of newbie or professional, giving yourself the time to analyze, process, and react to information makes a world of difference when trading.
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it depends on market situation.
around Feb / Mar 20, market was moving rapidly. 1 min chart (or small volume chart) was considered as rather coarse.

last few weeks, market has been rather slow moving. so 1 min chart ( or small volume chart) would gave too much noise.

for day traders, choosing the appropriate time / volume based charts
is very important.
too fine and we have lots of noise.
too coarse and we miss the opportunity.
 
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