Of course I know that there are some out there who have been able to day trade successfully, but for the mist part every successful trader that I come accross trades the 4 hour charts or higher. Do the majority of profitable traders trade long term? Also, please help with any general day trading tips for success. Please only traders who have had success for 2+ years respond (don’t mean to be a jerk, but I would just like the opinions o those traders)
2 suggestions:
DONT daytrade without a big enough balance. making 1% a day daytrading is very viable. But pushing a 1000$ account hard to make 50-100$ a day constantly is much less viable. If you dont have the equity to make a living, than dont daytrade.
DONT daytrade ( or at least not on 1-5-15 min chart) if you have problem making fast decisions. On these smaller timeframes a few second hesitation might decide your trade outcome. If you need time to think and rethink things slowly again and again, stay away from daytrading.