Daytrading opinions

[51]

Find a proven mentor and practice getting your skill set and system right for about a year. Once you find consistency, you will trade for another 6-8 months until you open a live account if you still maintain consistent.

Thanks gh0st16

You're welcome. Be careful of who you choose as a lot of these "gurus" are fake and don't actually generate income with trading.

[217]

ty

[13]

Right now is not a good time otherwise like others say you have to educate yourself and learn alot or else you will get wiped clean.

[58]

I didnt daytrade...


But I often read something about "how to Start daytrade"...

I would say there are little bit the same rules as playing Poker professionell.

1. Dont gamble/play with money that you need for you own life...
Take some time and create an extra pot with money.... So if you Lose it, it would Not hurt so much.... So you can trade a little bit more without negative Emotions (f.e. "I need to make 200$ the next 5 days, because I need to pay my Bills")

2. Like in point one : try to trade without Emotions... Dont trade to reach a goal you want to buy in 1 year... It can make you too impatient

3. Make yourself daily Limits for winning and losing money... ( f.e. Maximum loss per day 100$
Maximum win per day 300$ and Stick to it STRICTLY! Dont try to get back your loses and Start gambling....)

4. Never trade without stop-loss and Take Profit ( Tools in your trading Programm.... The stop loss serves to protect against losses and take profit allows you to take profits in good time and close a position successfully.

5. Try to get a feel for the market for the first few months and only trade with a demo account at first.

6. Try to learn much about your own personality...
Greed is your enemy!

[122]

I didnt daytrade...


But I often read something about "how to Start daytrade"...

I would say there are little bit the same rules as playing Poker professionell.

1. Dont gamble/play with money that you need for you own life...
Take some time and create an extra pot with money.... So if you Lose it, it would Not hurt so much.... So you can trade a little bit more without negative Emotions (f.e. "I need to make 200$ the next 5 days, because I need to pay my Bills")

2. Like in point one : try to trade without Emotions... Dont trade to reach a goal you want to buy in 1 year... It can make you too impatient

3. Make yourself daily Limits for winning and losing money... ( f.e. Maximum loss per day 100$
Maximum win per day 300$ and Stick to it STRICTLY! Dont try to get back your loses and Start gambling....)

4. Never trade without stop-loss and Take Profit ( Tools in your trading Programm.... The stop loss serves to protect against losses and take profit allows you to take profits in good time and close a position successfully.

5. Try to get a feel for the market for the first few months and only trade with a demo account at first.

6. Try to learn much about your own personality...
Greed is your enemy!

Very comprehensive! Thank you very much kind Sir.

[51]

You all should look into ICT on YT. You guys won't regret it.

[58]

I did day traded few years ago, was way easier than today. Today you are trading against algo firms, since last year top, the market is in chop chop mode, its very very difficult if you are over leveraged. If i have an advise to give, try to get access to the asian markets with your broker, this is where the liquidity is these days.

[51]

I did day traded few years ago, was way easier than today. Today you are trading against algo firms, since last year top, the market is in chop chop mode, its very very difficult if you are over leveraged. If i have an advise to give, try to get access to the asian markets with your broker, this is where the liquidity is these days.

The financial markets have always run on an algorithm (IPDA). You can still trade while it's choppy, the 1hr TF and below is where you would be looking at.

Also, there is always liquidity in the markets my friend.