Every subreddit I see which is about making money some person just straight up hates everyone in this Reddit and tells them their whites are hopeless and they are failed
As a newbie you should probably limit your screen time. You get decision fatigue and you should ease in. I don’t know many pros that trade for 10 hours.
If you’re in the learning phase you should get screen time. But that doesn’t mean be trading with real money the whole time.
There’s a difference between screen time and actively trading for 10 hours.
Actively trading means you are in business and executing. Not learning as you go IMO
That makes sense. Trading for 10hrs vs watching the market for 10hrs. I guess I never thought about it that way, or figured someone would be trading for 10hrs.
The way I get screen time is using the replay mode on DAS Trader Pro. When the market closed, I use the reply mode with 4x or 8x speed. So instead of watching 6 hours and 30 mins of the market hour, you can finish the whole market in less than 1 hour with 8x speed. Since I only trade the first hour of stock, I can watch 10 to 20 stocks each day with 4 or 8x speed.
Not sure what type of strategy. For me, I find levels on 60min chart and watch price around that level on 1min chart for entry. On actual trading, I can only enter on 1 or 2 trades because of buying power, so I usually watch the other ticker I didn't trade on simulator on 4 or 8x speed
There are many ways to make money in the market. Every successful trader had its own strategy - and all have one thing in common: KEEP LOSSES SMALL!
So first of all think "what is the maximum amount of time i can keep focussed, disciplined and only book small losses" your job as a trader is to avoid big losses in the first place
I made watching a sport, a lot can be learned by simply watching and pretending entry/exit was made. The best part is no money lost (like paper trading).
"Screen time" doesn't need to be active trading.
I probably spend 3-4x more time studying historical charts, reviewing and annotating my trades, updating my trade journal, running scans/setting alerts, and consuming learning material than I do actively trading.
Well i know 3 professional traders and 1 hedge manager, they all say to me that i trade too much, i try to keep it at 1-2 trades per day, they trade 2-3 trades per week, due to algo fund traders and high frequency trading 1-5 minute charts are too volatile and theres too many traps, the more you trade the bigger the risks of you losing money
How much you trade has no effect on how much money you lose providing you stick to the plan and you take into account the daily volatility and you don't trade anything other than your proven plan than works. Remember, not every person in hedges or pro traders are all the top of their game. In fact chances are they are just mediocre at what they do by definition which is absolutely fab in their fields because it's all gaining. It doesn't mean though that they are right 100% of the time. It doesn't mean it can't be improved. If they find success in trading less then that's fab, but its not necessarily the best way of trading and it likely means they are leaving some money on the table.
Ideally you want to be making 1-3 crem de la crem trades per day, and leave it at that to avoid burnout. Takes a while to figure out what those look like, but stick at it and you will get there in the end :)
No probs. Obviously its good to get a lot of time on the charts when you are starting as that is really the only way to properly understand what's going on, but if you keep up those hours long-term it will just turn into something stressful. Keeping a good balance between trading and the rest of your life will allow you stay in the game long term instead of it just becoming a headache. Learning to manage your emotions, knowing yourself and when to take a break is equally important as learning the trading skills themselves. If you are tired or stressed then you could potentially make bad decisions that will ultimately affect your bottom line. Doing everything you can to make sure your mental state is optimal will increase your earning potential massively. Eat well, get good sleep, exercise, enjoy the outdoors and time away from screens, play sports or other activities you enjoy, avoid intoxicants on week days, meditate, read, etc. Its win/win basically, work on yourself, enjoy your life and the rest will follow :)
36 trades in a day?? Damm lmao all you need is one good execution a day. I notice that a lot of people over complicate it, but then again im still a rookie so what do i know
This is the epitome of overtrading. Find 1 or 2 good setups and then call it a day. Congrats on being green for the day but $17 is not worth the amount of time and effort you put into the day
Getting a good groove is very important. Maybe work with price alerts to save sideway time in the market, focus on 1 or 2 assets, build confidence, and slightly upscale your positions.
Small profits sum up pretty nice, 50 bucks a day would be 1500 a month! Stay humble.
Thnx for your feedback! It’s really encouraging. I was worried maybe my position sizes or R:R was wrong (hated maths). Yes 10 hours was a lot of concentration but for a couple hours I set a timer for every 20 mins to make sure I checked the charts. I’m in Australia so GMT + 10. Nothing much happened until my 5 pm so I’ll probably have to trade from 4pm to 2am or something if I got more serious. Felt my risk management slipping at times.
I only trade like 2-3 hours max that I’m looking for a set up. 8-10 AM less is more. More time on screen more time for emotions to take affect and mistakes to be made you do not need to be on the charts for that long you should backtest and find your most profitable time of day before even thinking of entering the live market
Likely caused by fatigue, you might not have the required energy nor concentration for US timezone.
It's better to choose your battleground and limit your trading hours. Any one small mistake can be costly.
Yeah I thought I’d try it because of the volatility but I was lucky to escape my trades with a small loss. I won’t try NatGas again. Didn’t know it’s manipulated?
I would cut back on the amount of trades you make. 1-3 good trades. Personally, my trade set-ups get worse and worse once I get above 3-5 trades. 1 good setup is all you need. Small wins
I don't understand why people do like one days worth or trading or something really short term and ask for an opinion. That's like a business making one days worth of sales and telling their accountant how are we doing? You need months and years friends not some short term time frame. You will have slow days and big days some days you will loose
.... honestly you need to get your mind on track. Trading is a marathon not a sprint.
Well done. The key is to trade and learn from your trades. In trading less is often times more. Scalping is not so easy but there are great scalpers out there, for sure. Understand what;s possible and go from there. Today's a great example of how patience can pay off. One lot of NQ long at the NY open returned $4,000 in a couple of hours and even a cave man could have made it, provided he was there. Welcome to the Club.
Just me but I’d avoid gold/silver/commodities until you feel better trading more straightforward things until you can devote more time to this. Luckily as an Aussie you can trade the London/NY sessions but given you work a tough job (I’m also medical) I’d trade less and focus on more good setups to preserve mental capital.
Welcome to the start of the most difficult 3 years of your life! If u continue to trade small and learn from your mistakes then you might make it.
Good luck!
Just to put it into perspective:
If you continue like this reusing previous position size it would yield 1k in 20 workdays, 5k in 40 and 25k in 60. Yours are indeed good.
P.S. this extrapolation is for motivational purposes only.
My first day I did 114 trades but lost 6k so you know....it is what it is.
By the end of my first month I was doing 200-300 trades(296 is my record) and making 3k/day. 40k up after 19 trading days my first month
As a long term trader, that has nothing to hide, especially my losses I would say that my money comes from one to 2 trades that happen fast...e.g. XAUUSD slowly creeping up a rising EMA, smaller higher lows...triangle formation and bang,,,takes off, days pay in about 10 mins....however...you have to know that it is coming, see the early stages of big 'fake out' sell offs that are grabbing liquidity and be patient then have the nerve to jump in (sometimes when people are getting out). The longer I sit watching, the less I make. There is a weird inverse relationship about trading..everything that is common sense, comfortable, normal goes out the window. I also find that now I only trade XAUUSD (Gold) and a bit of US500 (here and there BTCUSD) my returns are better....get so familiar with one or 2 things, and you'll find much more confidence from knowing how that pair (for me I trade Forex as futures are hard to trade in Australia). Just my 2 cents. Also if you find you've traded 20 or more times in a day, and have less than $300 return, you're overtrading (unless you are a true scalper then ignore that!!). All the best in a tough game!
That's horrible man. I play options every day with 100 bucks make 30 to 40 bucks daily. When I find good trades I make 200 to 300 I mostly only play spy odte...sorry thats a little strong didnt want to start the whole paragrapike that... But full time trading means you need to make a living. So get a good job with good health insurance. Then trade get better then quit. I have been trading for 3 years. At first trading option odte looks so risky and dangerous. After 3 years I see it as a normal thing. And loosing gotta be a part of it. Remember the best looser is the winner. Stick with your strategy don't re-rail and very important piggies get fed hogs gets killed, meaning don't be griddy. Take a good win live to dance another day. With time risk management and visions of where the stock is going will be natural to you. Open a bunch of accounts so yiu can trade more than 3 times.
The longer you trade the longer you are exposed to risk and your thinking process gets degraded over time. I would suggest trading around open bell for 2-3 hours a day
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36 trades sounds excessive. What time frame are you using? 10 hours is also excessive, so consider limiting yourself to 2-4 focused hours rather than 10 unfocused hours. You cannot physically focus for 10 hours per day on anything, and trying to will be detrimental to any real progress.
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Be careful about burnout. Just because you can do something doesn't mean you should.
I know techniques I can use to squeeze over a hundred bucks extra out of the market every day, but I never really use them because the stress isn't worth it.
Notes:
For those who call BS, When the market is trading sideways, a stock like MSFT has a considerable price swing like .20 up and down, and you can anticipate the trading price and then scalp it.
If you can break even your first day that's great.
Now you have to go through the process of learning all your psychological liabilities. There are a million ways to blow out and they are all unique to your own nervous system.
Hopefully you won't have to experience the pain.
Good luck!
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Its difficult, you didnt say much with that above? what do you expect to hear?
I cant judge that statement based on dollar amount and indicators you use, do you have any backtested strategies? what is your edge on those above? did you stress test it over 100 samples? how did it play out? did you test it out maybe in different maket conditions?
Get rid of that indicator, focus on PA and risk management. Trade very small or demo account.
I started with a demo account with 50K making from 1 to 5 trades in one hour since Mar-28 and my results are: 5 red days with Losses of 12,008.45 total and 5 green day Winners of 22,067.75 . I don’t trade everyday but I should.
That sounds like you need to look at your strategy, if your profits are a tiny fraction of your risk, then you're going to have a bad day down the line.
I wouldn't be doing more than 3-5 trades in a day. I'm not a full-time trader. I'll trade when my work schedule permits but I have been taking 1-2 weeks off here and there throughout the year in between projects (I'm a self employed Carpenter) and I'll day trade and scalp all those days. I typically will trade between 8am-11am and the odd time in the afternoon. I stop myself at 5 trades per day but ideally I only want to do 3 good trades per day (3-1, 5-1 ratios only). There's only really 2-3 setups I like to trade and I only enter the market when the circumstances meet my criteria fully. Pretty much the whole business of trading is absolute discipline and very strong risk management. That is the difference between those that fail and those that succeed.
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Way too many trades imo. Unless you’re super experienced and have a scalping strategy…that’s a SHITLOAD of trading for one day. Trading is like hunting. You need to really survey the situation and wait for a really great setup and only pull the trigger when you have a clean shot.
profit is profit. If you continue to come out green, keep going. Easy trading in a bull market right now. Be sure to have a successful strategy for a bear market as well. You made almost 1%. 1% daily will grow quickly enough.
Less trading and more observing. Where were the highs and lows yesterday? Overnight? Were there any points that acted like support and resistance over the previous weeks/days/months? That’s a lot of trades. I know a lot of people trade like that but observing and waiting for a good setup and you can get more points in 1-2 trades than in 36 trades. Look for the big moves from level to level. Use a stop loss but give it enough room for a pullback and continuation. MNQ gave me 150 points today in 3 trades. I much prefer trading that way. Of course I started out trading 30 times a day too.
Thank you for the good advice. I will work towards what you’ve said. I noticed movements tended to find points of resistance/support but so many charts had multiple not very strong support/resistances. I do need to observe and learn how to pick the charts more. 👍
Thank you for all your advice. Truth is I know almost nothing about price action. I’ll work on how to choose better charts, and how to spot good setups. Fewer better trades, and shorter sessions! This trading is… seductive
Man, I'd say if you had more capital, to jump onto the NVDA bandwagon right now, as it's less than $825 (as of this post) and is expected to jump to $1000 a share within a couple weeks. I managed to pick some up as low as $779 the other day, and I'm very grateful for that!
Or an Upgrade by over 10 different Analysts, all with over 70% accuracy rating, but what do I know? Why don't you just keep an eye on NVDA and we'll see how it plays out and you can determine whether or not it's merely expected by me?
You should recheck your definition of day trading. Just because you suck at it, doesn’t mean no one is profitable doing this. Yes swings trading is way better, where you have more control. But it doesn’t mean day trading have a 0% winrate.
A salary of 1.7 perhour
Better than 90% of other salaries in this market.
Every subreddit I see which is about making money some person just straight up hates everyone in this Reddit and tells them their whites are hopeless and they are failed
As a newbie you should probably limit your screen time. You get decision fatigue and you should ease in. I don’t know many pros that trade for 10 hours.
And then there are people who say “get as much screen time as you can” So what is it? Screen time or not? This place is so confusing sometimes lol
If you’re in the learning phase you should get screen time. But that doesn’t mean be trading with real money the whole time. There’s a difference between screen time and actively trading for 10 hours. Actively trading means you are in business and executing. Not learning as you go IMO
That makes sense. Trading for 10hrs vs watching the market for 10hrs. I guess I never thought about it that way, or figured someone would be trading for 10hrs.
The way I get screen time is using the replay mode on DAS Trader Pro. When the market closed, I use the reply mode with 4x or 8x speed. So instead of watching 6 hours and 30 mins of the market hour, you can finish the whole market in less than 1 hour with 8x speed. Since I only trade the first hour of stock, I can watch 10 to 20 stocks each day with 4 or 8x speed.
That’s a really good tip! I’m worried if I WATCH the charts without any position I won’t know what I’m watching for and won’t learn much
Not sure what type of strategy. For me, I find levels on 60min chart and watch price around that level on 1min chart for entry. On actual trading, I can only enter on 1 or 2 trades because of buying power, so I usually watch the other ticker I didn't trade on simulator on 4 or 8x speed
There are many ways to make money in the market. Every successful trader had its own strategy - and all have one thing in common: KEEP LOSSES SMALL! So first of all think "what is the maximum amount of time i can keep focussed, disciplined and only book small losses" your job as a trader is to avoid big losses in the first place
I made watching a sport, a lot can be learned by simply watching and pretending entry/exit was made. The best part is no money lost (like paper trading).
"Screen time" doesn't need to be active trading. I probably spend 3-4x more time studying historical charts, reviewing and annotating my trades, updating my trade journal, running scans/setting alerts, and consuming learning material than I do actively trading.
Screen time is the best teacher
Yeah for most professionals 1-2 trades per day is considered very active day
Well this is just misleading as it entirely depends on your timeframe. Today I found 7 trades all on eurusd in 5 hours on the 1 minute chart.
Well i know 3 professional traders and 1 hedge manager, they all say to me that i trade too much, i try to keep it at 1-2 trades per day, they trade 2-3 trades per week, due to algo fund traders and high frequency trading 1-5 minute charts are too volatile and theres too many traps, the more you trade the bigger the risks of you losing money
How much you trade has no effect on how much money you lose providing you stick to the plan and you take into account the daily volatility and you don't trade anything other than your proven plan than works. Remember, not every person in hedges or pro traders are all the top of their game. In fact chances are they are just mediocre at what they do by definition which is absolutely fab in their fields because it's all gaining. It doesn't mean though that they are right 100% of the time. It doesn't mean it can't be improved. If they find success in trading less then that's fab, but its not necessarily the best way of trading and it likely means they are leaving some money on the table.
Proven plan that works, no such thing in a market that changes all the time
If you truly believe that then you shouldn't trade at all because then it's just gambling.
It does alot, tell me you are not consistent without telling you are lol
i second this. cant imagine 10 hour days being healthy
Ideally you want to be making 1-3 crem de la crem trades per day, and leave it at that to avoid burnout. Takes a while to figure out what those look like, but stick at it and you will get there in the end :)
Thank you!
No probs. Obviously its good to get a lot of time on the charts when you are starting as that is really the only way to properly understand what's going on, but if you keep up those hours long-term it will just turn into something stressful. Keeping a good balance between trading and the rest of your life will allow you stay in the game long term instead of it just becoming a headache. Learning to manage your emotions, knowing yourself and when to take a break is equally important as learning the trading skills themselves. If you are tired or stressed then you could potentially make bad decisions that will ultimately affect your bottom line. Doing everything you can to make sure your mental state is optimal will increase your earning potential massively. Eat well, get good sleep, exercise, enjoy the outdoors and time away from screens, play sports or other activities you enjoy, avoid intoxicants on week days, meditate, read, etc. Its win/win basically, work on yourself, enjoy your life and the rest will follow :)
36 trades in a day?? Damm lmao all you need is one good execution a day. I notice that a lot of people over complicate it, but then again im still a rookie so what do i know
Back in 2020/21 when the market pumping I had days with well over 100 entry/exits, fun times but lately doing a lot less.
This is the epitome of overtrading. Find 1 or 2 good setups and then call it a day. Congrats on being green for the day but $17 is not worth the amount of time and effort you put into the day
Getting a good groove is very important. Maybe work with price alerts to save sideway time in the market, focus on 1 or 2 assets, build confidence, and slightly upscale your positions. Small profits sum up pretty nice, 50 bucks a day would be 1500 a month! Stay humble.
That is good results, but it's better to avoid over trading. 38 trade a day is a lot
Thnx for your feedback! It’s really encouraging. I was worried maybe my position sizes or R:R was wrong (hated maths). Yes 10 hours was a lot of concentration but for a couple hours I set a timer for every 20 mins to make sure I checked the charts. I’m in Australia so GMT + 10. Nothing much happened until my 5 pm so I’ll probably have to trade from 4pm to 2am or something if I got more serious. Felt my risk management slipping at times.
I only trade like 2-3 hours max that I’m looking for a set up. 8-10 AM less is more. More time on screen more time for emotions to take affect and mistakes to be made you do not need to be on the charts for that long you should backtest and find your most profitable time of day before even thinking of entering the live market
Likely caused by fatigue, you might not have the required energy nor concentration for US timezone. It's better to choose your battleground and limit your trading hours. Any one small mistake can be costly.
Anytime Value your time and energy, and only focus on high-impact business.
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Thank you
Natgas wtf stay away from that instrument almost no liquidity and all insider trading
Yeah I thought I’d try it because of the volatility but I was lucky to escape my trades with a small loss. I won’t try NatGas again. Didn’t know it’s manipulated?
Don’t leverage and limit your trading. You will perform poorly if you constantly trade 10 hours a day. 36 in a day is too much
No leverage is terrible advice
No it isn’t. Risk management is much more important than possibly winning big.
I would cut back on the amount of trades you make. 1-3 good trades. Personally, my trade set-ups get worse and worse once I get above 3-5 trades. 1 good setup is all you need. Small wins
I don't understand why people do like one days worth or trading or something really short term and ask for an opinion. That's like a business making one days worth of sales and telling their accountant how are we doing? You need months and years friends not some short term time frame. You will have slow days and big days some days you will loose .... honestly you need to get your mind on track. Trading is a marathon not a sprint.
Well done. The key is to trade and learn from your trades. In trading less is often times more. Scalping is not so easy but there are great scalpers out there, for sure. Understand what;s possible and go from there. Today's a great example of how patience can pay off. One lot of NQ long at the NY open returned $4,000 in a couple of hours and even a cave man could have made it, provided he was there. Welcome to the Club.
Thanks so much!
Good. Very good. Unfortunately I had to go through so much to know that a good trader isn’t one who make the most money but one who managed it best.
Just me but I’d avoid gold/silver/commodities until you feel better trading more straightforward things until you can devote more time to this. Luckily as an Aussie you can trade the London/NY sessions but given you work a tough job (I’m also medical) I’d trade less and focus on more good setups to preserve mental capital.
Welcome to the start of the most difficult 3 years of your life! If u continue to trade small and learn from your mistakes then you might make it. Good luck!
How much were commissions lol
Yeah i definitely made more for the broker than I made for myself……
Just to put it into perspective: If you continue like this reusing previous position size it would yield 1k in 20 workdays, 5k in 40 and 25k in 60. Yours are indeed good. P.S. this extrapolation is for motivational purposes only.
Wow! Thanks! I felt my risk management slipping. One big loss it would have all gone….
36 tades? Reduce it to 1-5 a day
Over time risk to reward will eat you alive, learn volatility so you can trade things with price movement
My first day I did 114 trades but lost 6k so you know....it is what it is. By the end of my first month I was doing 200-300 trades(296 is my record) and making 3k/day. 40k up after 19 trading days my first month
As a long term trader, that has nothing to hide, especially my losses I would say that my money comes from one to 2 trades that happen fast...e.g. XAUUSD slowly creeping up a rising EMA, smaller higher lows...triangle formation and bang,,,takes off, days pay in about 10 mins....however...you have to know that it is coming, see the early stages of big 'fake out' sell offs that are grabbing liquidity and be patient then have the nerve to jump in (sometimes when people are getting out). The longer I sit watching, the less I make. There is a weird inverse relationship about trading..everything that is common sense, comfortable, normal goes out the window. I also find that now I only trade XAUUSD (Gold) and a bit of US500 (here and there BTCUSD) my returns are better....get so familiar with one or 2 things, and you'll find much more confidence from knowing how that pair (for me I trade Forex as futures are hard to trade in Australia). Just my 2 cents. Also if you find you've traded 20 or more times in a day, and have less than $300 return, you're overtrading (unless you are a true scalper then ignore that!!). All the best in a tough game!
That's horrible man. I play options every day with 100 bucks make 30 to 40 bucks daily. When I find good trades I make 200 to 300 I mostly only play spy odte...sorry thats a little strong didnt want to start the whole paragrapike that... But full time trading means you need to make a living. So get a good job with good health insurance. Then trade get better then quit. I have been trading for 3 years. At first trading option odte looks so risky and dangerous. After 3 years I see it as a normal thing. And loosing gotta be a part of it. Remember the best looser is the winner. Stick with your strategy don't re-rail and very important piggies get fed hogs gets killed, meaning don't be griddy. Take a good win live to dance another day. With time risk management and visions of where the stock is going will be natural to you. Open a bunch of accounts so yiu can trade more than 3 times.
The longer you trade the longer you are exposed to risk and your thinking process gets degraded over time. I would suggest trading around open bell for 2-3 hours a day
Last week, First 4 days of trading up $1520. Apple, qqq, Tesla Thursday this week. SPy +427%. $1200. Total week-1340
Oof! Nice!
Keep going you got it! 💪
Lol 36
……
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Tell me a couple of things. 1. How many wins 2. How many loses 3. Best win 4. Worst loss 5. What was your risk to reward ratio RR
36 trades sounds excessive. What time frame are you using? 10 hours is also excessive, so consider limiting yourself to 2-4 focused hours rather than 10 unfocused hours. You cannot physically focus for 10 hours per day on anything, and trying to will be detrimental to any real progress.
I was using 5minute timeframe and initiating trades at or just before MACD crossover
36 trades and 10 hour screen time is too much. Try to make it less than 10 trades and 6 hours.
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Be careful about burnout. Just because you can do something doesn't mean you should. I know techniques I can use to squeeze over a hundred bucks extra out of the market every day, but I never really use them because the stress isn't worth it. Notes: For those who call BS, When the market is trading sideways, a stock like MSFT has a considerable price swing like .20 up and down, and you can anticipate the trading price and then scalp it.
That is horrible for 36 trades. Idk who you’re trading with but commissions are more than that on td ameritrsde for that many trades.
Equation fact is that more time spent in front of screen doesnt mean more money. Many times, less is more
If you can break even your first day that's great. Now you have to go through the process of learning all your psychological liabilities. There are a million ways to blow out and they are all unique to your own nervous system. Hopefully you won't have to experience the pain. Good luck!
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36 trades?!!!!
Its difficult, you didnt say much with that above? what do you expect to hear? I cant judge that statement based on dollar amount and indicators you use, do you have any backtested strategies? what is your edge on those above? did you stress test it over 100 samples? how did it play out? did you test it out maybe in different maket conditions? Get rid of that indicator, focus on PA and risk management. Trade very small or demo account.
I started with a demo account with 50K making from 1 to 5 trades in one hour since Mar-28 and my results are: 5 red days with Losses of 12,008.45 total and 5 green day Winners of 22,067.75 . I don’t trade everyday but I should.
That sounds like you need to look at your strategy, if your profits are a tiny fraction of your risk, then you're going to have a bad day down the line.
I wouldn't be doing more than 3-5 trades in a day. I'm not a full-time trader. I'll trade when my work schedule permits but I have been taking 1-2 weeks off here and there throughout the year in between projects (I'm a self employed Carpenter) and I'll day trade and scalp all those days. I typically will trade between 8am-11am and the odd time in the afternoon. I stop myself at 5 trades per day but ideally I only want to do 3 good trades per day (3-1, 5-1 ratios only). There's only really 2-3 setups I like to trade and I only enter the market when the circumstances meet my criteria fully. Pretty much the whole business of trading is absolute discipline and very strong risk management. That is the difference between those that fail and those that succeed.
Made 117 more than me today.
That’s over trading.
First you should know what we call wash sale rule
LOL! It would have been much better to have just taken a single trade and made $17.
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Way too many trades imo. Unless you’re super experienced and have a scalping strategy…that’s a SHITLOAD of trading for one day. Trading is like hunting. You need to really survey the situation and wait for a really great setup and only pull the trigger when you have a clean shot.
Let me know when it’s your 4th time around!!
I’d say about 4-5 accounts blow up, then you might actually be ready to hop in the arena
profit is profit. If you continue to come out green, keep going. Easy trading in a bull market right now. Be sure to have a successful strategy for a bear market as well. You made almost 1%. 1% daily will grow quickly enough.
I think that’s a lot of tickers to master intraday price action for scalping
Less trading and more observing. Where were the highs and lows yesterday? Overnight? Were there any points that acted like support and resistance over the previous weeks/days/months? That’s a lot of trades. I know a lot of people trade like that but observing and waiting for a good setup and you can get more points in 1-2 trades than in 36 trades. Look for the big moves from level to level. Use a stop loss but give it enough room for a pullback and continuation. MNQ gave me 150 points today in 3 trades. I much prefer trading that way. Of course I started out trading 30 times a day too.
Thank you for the good advice. I will work towards what you’ve said. I noticed movements tended to find points of resistance/support but so many charts had multiple not very strong support/resistances. I do need to observe and learn how to pick the charts more. 👍
Thank you for all your advice. Truth is I know almost nothing about price action. I’ll work on how to choose better charts, and how to spot good setups. Fewer better trades, and shorter sessions! This trading is… seductive
Keep going! Keep learning!
Where do you daytrade where you only need $200 and can also get 5x leverage?
10%\~ profit in a day, pretty crazy imo be careful
You are new. You have no business using leverage, let alone 5x. Just stop this leverage nonsense...unless you enjoy throwing money away.
Is this a bait post? $17 good job?
36 trades Jesus just get better setups?!
Man, I'd say if you had more capital, to jump onto the NVDA bandwagon right now, as it's less than $825 (as of this post) and is expected to jump to $1000 a share within a couple weeks. I managed to pick some up as low as $779 the other day, and I'm very grateful for that!
Expected to jump to 1000 by you? Or historical data?
Or an Upgrade by over 10 different Analysts, all with over 70% accuracy rating, but what do I know? Why don't you just keep an eye on NVDA and we'll see how it plays out and you can determine whether or not it's merely expected by me?
Eek yikes, that's how you responded to a simple question? I wonder how you'd respond if someone actually attacked you.
Thnx for the tip! I thought I missed that train…
Nope! Now is the best time to jump on. Just buy what you can, be patient and hold, and set a Sell Limit for a comfortable margin. You'll do just fine.
Why do people keep falling for this Ponzi scheme called day trading?
explain how buying and selling a stock is a ponzi scheme
I don't think he knows what a ponzi scheme is.
You should recheck your definition of day trading. Just because you suck at it, doesn’t mean no one is profitable doing this. Yes swings trading is way better, where you have more control. But it doesn’t mean day trading have a 0% winrate.