Move to jumping on trend / strength then the only thing that really varies is how much you make, I need quite a while well 5mins before I risk playing a bottom / chop reversal, most spike down and reverse fast so no way to call, other than big SL to allow for inaccuracy.
Intraday or long term
- Thread starter trader1974
- Start date
Move to jumping on trend / strength then the only thing that really varies is how much you make, I need quite a while well 5mins before I risk playing a bottom / chop reversal, most spike down and reverse fast so no way to call, other than big SL to allow for inaccuracy.
But you can say the same about going to work and spending 8hours at £10 per hour, sat in front of a computer, bored and unable to make any other money.
My Intraday pays better than an average job, nothing to stop me doing intraday as a job replacement and still doing long term, not that I would, too gambly long term is for me.
Exactly, it's better a contract and SL far away, I also see it that way
I'm glad you're profitable Turveyd. I quit my job, I was profitable a month but then I quickly increased the number of contracts because I felt confident. Then it went wrong. I wanted to recover the money by operating with many contracts and it was worse. Why did it go wrong? It went wrong because with a contract it kept the stop at a distance. With many contracts the stop was closer and skip often. I had to go back to work, I was so close ... I learned the lesson.
During the month that I was profitable, I liked to earn my own money without depending on anyone, it is a great personal satisfaction. I hope someday to achieve it. However, the uncertainty of not knowing if you will be profitable tomorrow caused gastric problems due to stress. We have to keep going.
Your full off sh@t
I've had a few profitable months, then markets changed, I've lost the plot, tweaked something, bla bla bla and went from being 80% win rate to 20% win rate over night.
Profitable at the moment, getting better I think/feel, so maybe it'll stick this time or maybe I've got more lessons to learn. ( starting to get +$1000 trades and keeping risk to $150, +$250 being typical, before it was +$60 risking -$400 LOL )
Got no real business, main client told to stop using me for new Dev work ( head office pissed off, I was secret ), support 3 systems was 9, there copying and replacing all my systems then rolling them out nationally = me SCREWED LOL, so Max effort to cracking it.
it's only depend on how good you are as a trader!!! one can make money anywhere
yes while that is true....once you reach a million usd it is difficult to trade huge amounts in day trading so there is a limit to how rich you may become doing day trades
It is posible to get extraordinaries returns from daytrading, but is not easily scalable, with biggers accounts we need to change to other strategies and finally moving to long term.