Day Trading or Position Trading? - Page 6
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  1. #51
    Join Date
    Apr 2013
    Posts
    2
    It been never long the profit get back with you got left your trading activities.. Make sure you're spontaneous with your trading business.. )))

  2. #52
    Join Date
    Sep 2011
    Posts
    1,859
    spontaneity is not a characteristics of forex trading, are you kidding me?
    careful calculations is what you need and protection for your accounts, good traders and market conditions

  3. #53
    Join Date
    Jul 2013
    Posts
    1,440
    Quote Originally Posted by Sathish2 View Post
    Make sure you're spontaneous with your trading business..
    ... if you also want to make sure that you end up being part of the industry's losing statistics.

  4. #54
    Join Date
    Aug 2015
    Posts
    460
    Quote Originally Posted by Sathish2 View Post
    It been never long the profit get back with you got left your trading activities.. Make sure you're spontaneous with your trading business.. )))
    "Spontaneous" suggests a lack of preparation, analysis, discipline and commonsense (probably more things as well) which ALL are essential to consistency in trading - so one could sum this up as "not a very good idea".

    However........if you mean without hesitation then perhaps you are somewhat correct. If one has confidence in one's methods based on testing and usage then hesitation can lead to late entries which can lead to diminished profit or increased stop-loss. When you are ready, you pull the trigger, if you hesitate it can mean lack of trust in your system (go back to testing) or an unclear signal (leave it alone and wait for the next).

  5. #55
    Join Date
    Dec 2014
    Posts
    547
    Day trading requires more screen time, as I don't have this facility, which I find an advantage to me, I trade mostly on daily time frame in swing trading style.
    Last edited by forexcrisp; 10-14-2015 at 01:52 AM.

  6. #56
    Both? I consider myself a day trader, but I do combined it occasionally with position trading or perform them simultaneously. They complement each other in certain ways, as the preparation for opening positions is different, but can point to a potential mistake or a weak spot in the analysis.

  7. #57
    Join Date
    Mar 2015
    Posts
    15
    One thing many retail traders who attempt to daytrade FX don't do is research a proper broker and trading platform that will accomodate a faster style of trading. You need a broker that can manage short term trades, preferably with low variable spreads/commission fee structure and who won't start dealing against you if your doing well. An STP broker with a proper platform and datafeed that allows you to trade easily off a chart is a must for a scalper. I personally use cTrader and think it is hands down better than MT4 for anyone interested in scalping methods in particular. For one it supports tick charts, and shows market depth liquidity, which are both useful features for a professional scalper. It has been a forward step for me at least to kick my addiction to MT4. With a little effort to learn a new platform - the benefits are easily worth it IMO.

    The long and short of it is that if you plan to daytrade - you better approach it like a professional. A daily loss limit is also a must that you have to obey religiously - for the newbie especially it is very easy to spiral out of control taking wreckless trades that will do great damage to, or entirely obliterate your account. Don't even think of scalping if you are not prepared to approach it with rock solid risk management and the proper tools.

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