A month ago you posted that you had gotten profitable after studying four hours a day since last year. Anyone reading the OPs post, keep that in mind. Last year he was not making money, now he’s posting this.
Trading is risky, it is how you manage risk and losses that determine profitablility,
Being green can have a lot of definitions depending on the type of day trader you are, you can be red all week but be green for the month, are you measuring unrealized or realized gains? But I would agree if you are red for the month then it may considerable to tweak something haha
Define risk? How can trading be risky? How? You draw a pay off diagram, see your vulnerabilities, and know that the event you trade has a p-value of >1. In other words, whatever the market swings, you earn a buck.
Risk of losing money,
no matter your strategy, the market is irrational and everyone will lose money on a few trades in their lifetimes especially if you trade daily.
Risk of losing money? Risk of losing money on a trade you made? Risk of losing money because the broker who holds your money doesn't pay you out? What risk? Or the risk that your trade due to a electric shortcut just briefly didn't get to the broker; which although statistically is an anomaly, it does happen. Like a lottery, even though unwise, it does have winners. But it doesn't end well.
Day trading is risky and lists only 2 bullet points??? Nothing in here about psychology or screen time. This is way over simplifying an activity that has one of the highest failure rates in the world.
Almost every industry has the same failure rate damn near no matter what you get into usually only the top 10% succeed. But i definitely get where you’re coming from he simplified way too much without giving more points
For me it would be less. My best trades are in the opening. If i lose on opening that is over for today. If i win on opening i am also done for today. I tend to lose less than i get to i will be positive even if there is equal amount of wins and loses. Btw i am still paper trading so this could change but for now, this is working
Less is best. Set alerts and don’t stare at the screen. If you stare at it too long, you will start to imagine patterns and opportunities that weren’t there in the first place
You need at least 5000-7500 hours IMO while learning. Then you reduce the hours when you figure it out, so you maximize your time spent and reduce the stress.
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Wish i knew things were THAT easy 17 years ago... mindblowing read there mate.
By the time you enlighten us with your next success story i should be able to trade without charts, right?
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Did you trade during 9/11 when markets shut down whether you were In a position or not?
Or how bout oil when it went negative
There's risk involved with everything, you never know when manipulation or a wartime event will happen.
That candle will blow past your stop and decimate your account when it happens.
Elaborate. What does contract size have to do with not being able to exit as NQ drops 700 points in a day? If you are risking 1%, I highly doubt your stop less is anywhere near 100-200 points. Let alone 700
My point is you can do everything right, but the RISK is still there that these things can happen. Historically, it is very infrequent. However, saying any form of trading is not risky is purely regarded.
I was talking specifically about options. If you're risking 5% of your account, at most, you'll lose 5% of your account. You'll never be at risk of decimating your account.
That's true. But if you are trading futures, forex, crypto, selling options, or even holding shares in strong companies, that shit can happen. The only real risk with options are the Greeks which fuck me sideways usually.
Study price action relentlessly. I mean everyday you're at the chart, pay attention to the moves until you locate a pattern that you want to test. Then demo trade and test it. Also study the main candle shapes so you can find the valid signals, and combine this with whatever indicators you use to figure out the overall direction (I use MACD). You will eventually find something that works for you.
You're stuck in false time paradigm. Come over from the Dark Side to the Light Side where all price-based bars are identical fixed size (user-defined preset) without any crayon spaghetti squiggly lines.
Pure px action
A fat green candle breaking through resistance with more than 50% of its body. I'm still learning how to use other metrics and whatnot as well though. its been like a week of learning trading so far. its consuming and i love it.
Trading involves some probability for something going up or down. With that alone, there's always risk that you can't eliminate; if a stock's price has a 70% chance of increasing, it's reasonable to assume that it could be a good stock to trade; however we have to be mindful of the, small but still real, 30% chance of the stock's price decreasing.
I do agree that most traders don't make it for the 2 reasons you stated and more, but those things are more risk management than anything else; if you don't have it, the market will rip you apart.
The greatest traders still have a losing trade here and there, but their winners are greater than their losers and their accuracy is solid. Day trading is inherently risky, but poor risk management is what blows accounts and makes gamblers quit trading.
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I’m loving the 50 and 20. Been using the 20 crossing as a confirmation with reactions off s&d zones. Alone not a great strategy but used with other stuff it’s great.
I think the way you apply it will be mostly personal preference, but I combine it with MACD and it works incredibly well. I have no doubt you could do it with RSI, but I liked MACD from the start and stuck with it. I use Fibonacci based EMA settings (21 and 34), and for better results I would definitely recommend combining it with a momentum indicator. But I don't use Fib levels, even though I think they can be useful. I just don't think they're necessary with my setup.
Think of the moving average as part of the strategy rather than the whole strategy. If you combine multiple ones and find a clear direction/strength with confluence across your indicators it's probably a good sign. Of course don't forget to use support/resistance and candles, for even more precision.
Well there are a lot of traders publishing their trades and discuss those in the video also quite some great traders have written great books... But you are right if you have access to good teachers you would be crazy not to learn from them... .
> You are trading without an edge.
What's an Edge, and how do I use one?
> You are sizing up prematurely.
What's this mean in laymen terms?
> smallest position sizes possible.
What's small? a hundred, thousand, ten thousand?
>[Edges explained](https://www.investopedia.com/articles/active-trading/022415/vital-importance-defining-your-trading-edge.asp)
>Investing too large a chunk of the cash you have available
>an amount you can afford to lose while still being able to invest
of course it's risky...
your stop losses aren't guarnateed to fill you in at that price, plenty of times a futures contract dumps and your stop loss gets filled several ticks before your intention.
Trading is risky when one doesn't follow 3-5% per trade of total account balance rule.
Trading is risky when one doesn't only same day trade. Swing trading loses money. The markets are too unstable. Today Nasdaq/Dow are up but are negative for the month.
One with a general account with balance less than $25k, can't even same day trade more than 3x in 5 rolling day's.
you're right, day trading isn't risky - you can literally control how much you lose. it's totally up to you. day trading isn't risky - it's the person who is trading that is risky.
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Realistically no one reading this has ANY kind of edge. The large institutions have so many resources we don't have and they have a tiny edge (maybe).
Sizing up is the only way to actually make money when you are right. People average down on loser all the time. Very few people average up into winners.
The mentality of most people makes Day Trading and EXTREMELY dangerous activity where they will lose money. Also black swan events do happen and will mutilate a portfolio.
I'm willing to bet $1m blank cheque you haven't got the faintest idea what you are talking about in a poker game. Unless you statistically claim everything you wrote is a fact, written in stone like pythagoras.
Trading is never risky. Driving a car backwards, drunk, with a blindfold is risky.
Sizing of position has nothing to do with risk, sizing of positions is related to 'not knowing what you are doing'. That isn't a risk. That is unawareness of realizing that a large order on a micro stock you'll lose out on bid/ask spread. But that isn't a risk. It is simply unawareness of a factor of the financial markets.
Paper trade is never a bad idea, but 'starting reasonably' has no meaning. Starting reasonably for a student is perhaps a few stocks. A post-grad perhaps 20k. A 40 year old, perhaps 100k. Different numbers, yet all reasonable in the same scenario. In other words, starting reasonable without defining it; what sense does that make?
You mention; start small. Based on what? Based on fact? Academic gesture? Some model?
If you have a 100% chance to win a poker hand, and you know it, and someone asks you, what value do you start with? Ah, just few dollars? Sure? For a given fact you know you will win?
You mention that if you never lose a substantial amount of money trading. Never, means (in every trade, it is never 100 out of 100) going to happen. First of all never, is statistically binary. Second, if you only trade with $10 dollars, and trade 10 times. You will never lose substantial. But why trade at all? Gambling you say? Gambling is related to hope. Hope that you earn; that is a risk in return for money.
Oh, you mention 'a month' - last time I checked, every month; every domain (retail for shopping season) - what if you pick retail outside a shopping season. It'll go wrong during shopping season.
What's worse; is that this is horrible advice, and on top of that; followed blindly. Why? Because what you wrote down is 'nice to hear', 'seems obvious', but this isn't academics, it's practitioner work. If you truly believe what you say here. I don't care about the (100s) downvotes. I actually care about your portfolio. Because if you believe this; then I have a sensible guess what trades you do; without even knowing who you are, what you do. And yes, it's not fair; i've been a head of market risk, and this advice is damning. Even the SEC is reading this, imagine this; loss porn is a thing. The government doesn't do a thing. I know a thing about trading and I truly don't mind giving you some factual, (academic, practitioner, regulatory checked) advice, and there aint a thing innit for me). Because self inflicted pain is never fun to read. I'm not better or worse than you, but I know tonnes of legal court precedent that wipes your claims away, together with academic literature, and practitioner funds.
Oh cmon, we know that day trading is risky for those who suck at minimizing risks. Probably the only thing that people need to know, imo, is the stop-loss order.
Just depends on your definition of risky.
If risky means likely to lose a lot of money, then no it is not if you're doing it properly.
If risky means the antecedent of consistent and reliable, then risky it may be.
Bills are on set schedules. Gains are not
Smh I can’t believe anyone would listen to your nonsense. You wrote about why it is risky and said don’t do that ignorant of the fact they 99% can’t do those things. I have feeling you won’t last long.
I think what OP is trying to say is that trading is not supposed to make you lose so much to the point of ruin as it does to people. And in a way that is correct. If you actually trade with an edge and use small sizing, set up your trades in such a way that they have high risk reward ratios etc then in a year or two of sucking at trading, you don’t have to end up losing all your money, your house and marriage and all that like gamblers do.
When you have a bad trading year, you’re expected to lose money yes but not so much money that you end up on the streets if you actually pay attention to the factors in trading that you do have control over such as how many trades you’re taking and using a risk that is adjusted to this accordingly.
IF you never get tilted and go off plan then your risk is definitely minimal and reasonable provided that you are utilizing an Asymmetric R. The problem it seems is that people DO get tilted, get overconfident and start modifying their criteria for trade entry and position size. So day trading IS risky. You can say all you want about planning and following rules, none of that really matters when you can't adhere to decent execution.
It is risky. Most people fail at day trading. The statistics overwhelmingly demonstrate that it doesn’t work. And the opportunity cost is high given relative safety of return on index funds and lost time that could be spent doing something more productive.
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Very interesting thread for newbies like me... and I have a question for you.
I started daytrading recently with a small amount, as suggested in this post. I got some small wins and a loss I am trying to recover from (we are talking about 60 USD, not thousands...)
I just experienced this situation: I intercepted a stock going high, and I placed my order to buy. I also placed the order to sell at a certain price, as I want to day trade and not block my funds in stock. The stock reached my selling price MINUS 2 cents. And then started going down again.
At this point, as a daytrader, what would you do? Would sell at a lower price immediately, or would you keep the stocks waiting for them to hit that price you set?
Thank you to anyone who would like to reply.
Sell at the market. You will often find yourself needing to buy and sell at the market. You can't be that rigid about price when the trend turns. One way to do it is a trailing stop. Or just set alerts and sell if your price doesn't hit. Don't be afraid to put in market orders if the tide is turning. If you want to trade momentum, get used to market orders.
Show us a proven account of day trading with at least 500 trades to see your results.
The facts are 80 % of prop firm account are blow up after 1 year and 99,9 after two years.
Day traders who have a real edge are very rare, maybe 0,01% or less.
Technical analysis doesnt give any edge, ict and all this bullshit neither. Past prices dont give an edge. Only forecasting with high probability gives you an edge.
Im wrong really ? So show me proof that you made a lot of money with technical analysis Aha
All the loosing traders use technical analysis that the proof it doesnt work. Technical analysis is only useful to get a good entry or exit thats all. But it cant forecast future prices.
>Technical analysis is only useful to get a good entry or exit thats all. But it cant forecast future prices.
Your TA is simply not at that level then. Master it and you will never look back.
Here is my first trade of the day where TA not only forecasted the move but also the price target, so I took profit at the line drawn.
https://postimg.cc/8jMnp6Sb
A month ago you posted that you had gotten profitable after studying four hours a day since last year. Anyone reading the OPs post, keep that in mind. Last year he was not making money, now he’s posting this.
😂😂😂
Trading is risky, it is how you manage risk and losses that determine profitablility, Being green can have a lot of definitions depending on the type of day trader you are, you can be red all week but be green for the month, are you measuring unrealized or realized gains? But I would agree if you are red for the month then it may considerable to tweak something haha
true
you can have mentor to help you as well
Define risk? How can trading be risky? How? You draw a pay off diagram, see your vulnerabilities, and know that the event you trade has a p-value of >1. In other words, whatever the market swings, you earn a buck.
P values by definition are capped at 1
Risk of losing money, no matter your strategy, the market is irrational and everyone will lose money on a few trades in their lifetimes especially if you trade daily.
Risk of losing money? Risk of losing money on a trade you made? Risk of losing money because the broker who holds your money doesn't pay you out? What risk? Or the risk that your trade due to a electric shortcut just briefly didn't get to the broker; which although statistically is an anomaly, it does happen. Like a lottery, even though unwise, it does have winners. But it doesn't end well.
“Day trading is not risky” but “day trading is only risky when”
Driving a car is not risky unless Walking a dog is not risky unless Holding a baby is not risky unless Come on man
true
Big brain power from OP
Getting realy close to turning water into wine
1 session 1 trade
Day trading is risky and lists only 2 bullet points??? Nothing in here about psychology or screen time. This is way over simplifying an activity that has one of the highest failure rates in the world.
Almost every industry has the same failure rate damn near no matter what you get into usually only the top 10% succeed. But i definitely get where you’re coming from he simplified way too much without giving more points
Wdym by screen time? Curious
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So more screen time or less
For me it would be less. My best trades are in the opening. If i lose on opening that is over for today. If i win on opening i am also done for today. I tend to lose less than i get to i will be positive even if there is equal amount of wins and loses. Btw i am still paper trading so this could change but for now, this is working
Less is best. Set alerts and don’t stare at the screen. If you stare at it too long, you will start to imagine patterns and opportunities that weren’t there in the first place
Yet you need 10000 hours learning and staring at the charts?
You need at least 5000-7500 hours IMO while learning. Then you reduce the hours when you figure it out, so you maximize your time spent and reduce the stress.
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Totally agree. But I only swing trade so that applies well with me, dunno about scalping.
You're your own risk manager - the amount of risk exposure depends entirely on the traders themselves.
risk management is the key
Are you profitable after multiple years?
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No
depend on learning curve
the real risk is some new trader reading this and thinking it's actual advice
Wish i knew things were THAT easy 17 years ago... mindblowing read there mate. By the time you enlighten us with your next success story i should be able to trade without charts, right?
I mean… I have charts just to make my setup look better 😭 level 2 data and T&S is all I need
labeling your chart with your own setup
Yeah about 90% trade without 1 & 2
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'If you can do these simple things' Narrator: they weren't so simple
You're your own risk manager
Trading is not risky but here's why trading would be risky...
It’s risky by nature, otherwise you wouldn’t need an edge though?
There’s risk involved. What you’re talking about is risk management, therefore, there’s risk. Flabbergasted much?
Did you trade during 9/11 when markets shut down whether you were In a position or not? Or how bout oil when it went negative There's risk involved with everything, you never know when manipulation or a wartime event will happen. That candle will blow past your stop and decimate your account when it happens.
>That candle will blow past your stop and decimate your account when it happens. Not if you size up correctly...
Elaborate. What does contract size have to do with not being able to exit as NQ drops 700 points in a day? If you are risking 1%, I highly doubt your stop less is anywhere near 100-200 points. Let alone 700 My point is you can do everything right, but the RISK is still there that these things can happen. Historically, it is very infrequent. However, saying any form of trading is not risky is purely regarded.
I was talking specifically about options. If you're risking 5% of your account, at most, you'll lose 5% of your account. You'll never be at risk of decimating your account.
That's true. But if you are trading futures, forex, crypto, selling options, or even holding shares in strong companies, that shit can happen. The only real risk with options are the Greeks which fuck me sideways usually.
Sure, but either way, you never lose more than you're putting out, so if you're blowing accounts in 1 trade, you're sizing up too big.
What if the stock opens below your slisk level? like lets say your 5% equals to %1 loss in Stock but the stock opens %4 negatice that means %20 loss?
If you just risked 5% of your account, you'll lose a maximum of 5% of your account.
If you buy an option you only risk the cost of the option. Your potential profit however is limitless (on calls), and a very high limit on puts.
How does one gain an edge?
backtesting
Study price action relentlessly. I mean everyday you're at the chart, pay attention to the moves until you locate a pattern that you want to test. Then demo trade and test it. Also study the main candle shapes so you can find the valid signals, and combine this with whatever indicators you use to figure out the overall direction (I use MACD). You will eventually find something that works for you.
You're stuck in false time paradigm. Come over from the Dark Side to the Light Side where all price-based bars are identical fixed size (user-defined preset) without any crayon spaghetti squiggly lines. Pure px action
My charting is working great for me as it is. I only trade active hours, so time-based is fine.
Whats trading without an edge
You should always edge for atleast four hours before placing a trade
basically trading without some advantage based on your understanding/strategy in the market.
Day trading is absolutely risky.
Getting out of bed in the morning is risky.
I aint doin shit until i see breakout confirmation
What confirms a breakout for you?
A fat green candle breaking through resistance with more than 50% of its body. I'm still learning how to use other metrics and whatnot as well though. its been like a week of learning trading so far. its consuming and i love it.
Trading involves some probability for something going up or down. With that alone, there's always risk that you can't eliminate; if a stock's price has a 70% chance of increasing, it's reasonable to assume that it could be a good stock to trade; however we have to be mindful of the, small but still real, 30% chance of the stock's price decreasing. I do agree that most traders don't make it for the 2 reasons you stated and more, but those things are more risk management than anything else; if you don't have it, the market will rip you apart. The greatest traders still have a losing trade here and there, but their winners are greater than their losers and their accuracy is solid. Day trading is inherently risky, but poor risk management is what blows accounts and makes gamblers quit trading.
It's almost like the most likely way to engage in #1 and #2 is to be human. So, it's only risky when you're a human.
Question: how useful are moving averages to you guys? … specifically simple ma like 200, 50 or 20 for example
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I’m loving the 50 and 20. Been using the 20 crossing as a confirmation with reactions off s&d zones. Alone not a great strategy but used with other stuff it’s great.
I use exponential and I find it extremely useful. But you have to fit it to your preferred time frame of trading, based on your setups.
Can they be applied to almost any other indicator/strategies? Like combining the moving average with RSI, or Fibonacci?
I think the way you apply it will be mostly personal preference, but I combine it with MACD and it works incredibly well. I have no doubt you could do it with RSI, but I liked MACD from the start and stuck with it. I use Fibonacci based EMA settings (21 and 34), and for better results I would definitely recommend combining it with a momentum indicator. But I don't use Fib levels, even though I think they can be useful. I just don't think they're necessary with my setup. Think of the moving average as part of the strategy rather than the whole strategy. If you combine multiple ones and find a clear direction/strength with confluence across your indicators it's probably a good sign. Of course don't forget to use support/resistance and candles, for even more precision.
Thanks for the advice
Everything in life is risky but I understand what you mean. Risk should not outweight the expectable reward for sure.
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Why so?
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Well there are a lot of traders publishing their trades and discuss those in the video also quite some great traders have written great books... But you are right if you have access to good teachers you would be crazy not to learn from them... .
Title “day trading is not risky” Proceeds to say “day trading is only risky when”
> You are trading without an edge. What's an Edge, and how do I use one? > You are sizing up prematurely. What's this mean in laymen terms? > smallest position sizes possible. What's small? a hundred, thousand, ten thousand?
>[Edges explained](https://www.investopedia.com/articles/active-trading/022415/vital-importance-defining-your-trading-edge.asp) >Investing too large a chunk of the cash you have available >an amount you can afford to lose while still being able to invest
Risk management is the key for surviving.
Risky for a stupid person like me, yes it is!
Wow this is quite honestly the smartest thing I've seen in this thread. Trading is the hardest way to make easy money.
Do you do this for a living?
You’ve no idea what risk is. If day trading wasn’t risk it wouldn’t have any upside either.
Definitely need to follow a few simple rules.
I guess its a lot of temptation and many ways it can go wrong
I think most people get stuck at step 1.
The goal is to trade huge sizes on 10 sek time frame yes sir
of course it's risky... your stop losses aren't guarnateed to fill you in at that price, plenty of times a futures contract dumps and your stop loss gets filled several ticks before your intention.
Everything in life is risky. My dog just slapped me.
What îs paper trading?
Trading on a demo account (virtual funds) or just writing down trade entry/exits and calculating it on paper yourself
How long have you been trading and how old are you?
Trading is risky when one doesn't follow 3-5% per trade of total account balance rule. Trading is risky when one doesn't only same day trade. Swing trading loses money. The markets are too unstable. Today Nasdaq/Dow are up but are negative for the month. One with a general account with balance less than $25k, can't even same day trade more than 3x in 5 rolling day's.
I programmed indicator for day trading for mt5, I'm wondering if I rent, how many will be interested 🤔
Maybe making profit is risky.
Paper trading is a joke you cannot learn about risk fear and greed if you cannot handle the volatility of a market
Agreed 100%. Risk is only an issue if you jump in without a plan or still lack a decent understanding of price action.
Wait until his strategy no longer works! Lol
you're right, day trading isn't risky - you can literally control how much you lose. it's totally up to you. day trading isn't risky - it's the person who is trading that is risky.
Mental mindset too
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Realistically no one reading this has ANY kind of edge. The large institutions have so many resources we don't have and they have a tiny edge (maybe). Sizing up is the only way to actually make money when you are right. People average down on loser all the time. Very few people average up into winners. The mentality of most people makes Day Trading and EXTREMELY dangerous activity where they will lose money. Also black swan events do happen and will mutilate a portfolio.
Any advice how to start with 0 experience and does it bring good money?
I'm willing to bet $1m blank cheque you haven't got the faintest idea what you are talking about in a poker game. Unless you statistically claim everything you wrote is a fact, written in stone like pythagoras. Trading is never risky. Driving a car backwards, drunk, with a blindfold is risky. Sizing of position has nothing to do with risk, sizing of positions is related to 'not knowing what you are doing'. That isn't a risk. That is unawareness of realizing that a large order on a micro stock you'll lose out on bid/ask spread. But that isn't a risk. It is simply unawareness of a factor of the financial markets. Paper trade is never a bad idea, but 'starting reasonably' has no meaning. Starting reasonably for a student is perhaps a few stocks. A post-grad perhaps 20k. A 40 year old, perhaps 100k. Different numbers, yet all reasonable in the same scenario. In other words, starting reasonable without defining it; what sense does that make? You mention; start small. Based on what? Based on fact? Academic gesture? Some model? If you have a 100% chance to win a poker hand, and you know it, and someone asks you, what value do you start with? Ah, just few dollars? Sure? For a given fact you know you will win? You mention that if you never lose a substantial amount of money trading. Never, means (in every trade, it is never 100 out of 100) going to happen. First of all never, is statistically binary. Second, if you only trade with $10 dollars, and trade 10 times. You will never lose substantial. But why trade at all? Gambling you say? Gambling is related to hope. Hope that you earn; that is a risk in return for money. Oh, you mention 'a month' - last time I checked, every month; every domain (retail for shopping season) - what if you pick retail outside a shopping season. It'll go wrong during shopping season. What's worse; is that this is horrible advice, and on top of that; followed blindly. Why? Because what you wrote down is 'nice to hear', 'seems obvious', but this isn't academics, it's practitioner work. If you truly believe what you say here. I don't care about the (100s) downvotes. I actually care about your portfolio. Because if you believe this; then I have a sensible guess what trades you do; without even knowing who you are, what you do. And yes, it's not fair; i've been a head of market risk, and this advice is damning. Even the SEC is reading this, imagine this; loss porn is a thing. The government doesn't do a thing. I know a thing about trading and I truly don't mind giving you some factual, (academic, practitioner, regulatory checked) advice, and there aint a thing innit for me). Because self inflicted pain is never fun to read. I'm not better or worse than you, but I know tonnes of legal court precedent that wipes your claims away, together with academic literature, and practitioner funds.
~90% chance to lose money with a negative EV isn’t risky? Gotcha.
Oh cmon, we know that day trading is risky for those who suck at minimizing risks. Probably the only thing that people need to know, imo, is the stop-loss order.
Oh thanks. I never realized it was so easy. Only buy stocks that will go up after I buy them. Wow, a million thanks.
He must have started trading in the last 6 months and apparently has become a guru. Probably also selling courses.
Sounds like someone is getting ready to be humbled
Just depends on your definition of risky. If risky means likely to lose a lot of money, then no it is not if you're doing it properly. If risky means the antecedent of consistent and reliable, then risky it may be. Bills are on set schedules. Gains are not
You figured out the secret no one else could figure out. Give yourself a pat on the back. /s
Smh I can’t believe anyone would listen to your nonsense. You wrote about why it is risky and said don’t do that ignorant of the fact they 99% can’t do those things. I have feeling you won’t last long.
I think what OP is trying to say is that trading is not supposed to make you lose so much to the point of ruin as it does to people. And in a way that is correct. If you actually trade with an edge and use small sizing, set up your trades in such a way that they have high risk reward ratios etc then in a year or two of sucking at trading, you don’t have to end up losing all your money, your house and marriage and all that like gamblers do. When you have a bad trading year, you’re expected to lose money yes but not so much money that you end up on the streets if you actually pay attention to the factors in trading that you do have control over such as how many trades you’re taking and using a risk that is adjusted to this accordingly.
then how come youre not the next Warren Buffett yet if its so easy?
The data, science, and psychology all prove you wrong
bag vegetable voracious profit trees soup shaggy smart slim ink *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
A flight of stairs is risky.
IF you never get tilted and go off plan then your risk is definitely minimal and reasonable provided that you are utilizing an Asymmetric R. The problem it seems is that people DO get tilted, get overconfident and start modifying their criteria for trade entry and position size. So day trading IS risky. You can say all you want about planning and following rules, none of that really matters when you can't adhere to decent execution.
Hello
I keep it extra safe by only day trading sp500 stocks. Stay the hell away from penny stocks and betting on earnings date
It’s kinda like saying skating a stair case isn’t risky if you learn how to skate first
It is risky. Most people fail at day trading. The statistics overwhelmingly demonstrate that it doesn’t work. And the opportunity cost is high given relative safety of return on index funds and lost time that could be spent doing something more productive.
Yes, day trading is risky, but you can manage that risk with a strategy.
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Is that „edge“ you have over others in the room with us rn?
Even hedge funds, which trade with the most advanced edge, have a bad year. Trading is risky. The key here is managing the risk.
Trading is a risky business.
Joshtradesstocks on YT
Very interesting thread for newbies like me... and I have a question for you. I started daytrading recently with a small amount, as suggested in this post. I got some small wins and a loss I am trying to recover from (we are talking about 60 USD, not thousands...) I just experienced this situation: I intercepted a stock going high, and I placed my order to buy. I also placed the order to sell at a certain price, as I want to day trade and not block my funds in stock. The stock reached my selling price MINUS 2 cents. And then started going down again. At this point, as a daytrader, what would you do? Would sell at a lower price immediately, or would you keep the stocks waiting for them to hit that price you set? Thank you to anyone who would like to reply.
Sell at the market. You will often find yourself needing to buy and sell at the market. You can't be that rigid about price when the trend turns. One way to do it is a trailing stop. Or just set alerts and sell if your price doesn't hit. Don't be afraid to put in market orders if the tide is turning. If you want to trade momentum, get used to market orders.
Show us a proven account of day trading with at least 500 trades to see your results. The facts are 80 % of prop firm account are blow up after 1 year and 99,9 after two years. Day traders who have a real edge are very rare, maybe 0,01% or less. Technical analysis doesnt give any edge, ict and all this bullshit neither. Past prices dont give an edge. Only forecasting with high probability gives you an edge.
>Technical analysis doesnt give any edge You are wrong about that, but do what works for you
Im wrong really ? So show me proof that you made a lot of money with technical analysis Aha All the loosing traders use technical analysis that the proof it doesnt work. Technical analysis is only useful to get a good entry or exit thats all. But it cant forecast future prices.
>Technical analysis is only useful to get a good entry or exit thats all. But it cant forecast future prices. Your TA is simply not at that level then. Master it and you will never look back. Here is my first trade of the day where TA not only forecasted the move but also the price target, so I took profit at the line drawn. https://postimg.cc/8jMnp6Sb
You need to haave trading edge