You’ll find a lot of guys on here that make serious cash in a matter of hours - its a question of consistency and how long they actually last.
Everyone says its possible to make a living. Its one thing someone saying they’re making a living and only been doing it for months vs someone who’s actually been doing it for several years.
If your risk management is on point (mine isn’t and not really into that) you can make it and make a living out of it. I don’t know any day traders that are still around from 10 years ago.
No matter how much I have, I’ll always put a small amount, £10K into the account and see how far I can take it.
ur defenetly trading way longer then i have, and i do agree with u, consistency is the key, but over leveragging day trading is path to ruin unless u know what u doing and have the money to back that up. As for the people that+make a lot of money on here+, i don t even bother, most of the people on internet are full of BS, and if u can t practice… teach looool
Daytrading is one of those things like fire-eating or sword-swallowing or the trapeze. If you’re doing it, keep on doing it. If you just joined the circus, don’t even try.
Can’t argue with you there. If you’re day trading whilst over leveraged then you’re asking for trouble.
That is usually one of the problems, small accounts, high leverage, big dreams.
Those that know what they’re doing and can control their leverage and understand what’s realistic in terms of returns for their account size should be fine.
now that sounds like some1 that tried and couldn t do it… am i right? what pisses me of is that people don t understand…we re not all equals, or the same, and what aplies for u won t apply for another…maybe u can t speak chinese but another is fluent…sort of example…no ofence but sharing 1 s experince is 1 thing, and thinking that if u can t do it, no1 can…?
hope u see my point cheers
i m still trading with 500!! to 1 leverage…but my risk is same in percentage. no matter the leverage… and realistic…if i m up 20+ pips a day i m happy haha… ofc depends on ur risk slash pip size…but imo, once u get the hang of it, don t get dragged into news and sounds all over the place, just trade the chart… it s very doable
Yes, you’re right, I have tried it - twice - and couldn’t make it pay. But at least I have tried it.
The point is, it can be done by very expert traders who maybe have some natural inherent advantage in mind-set over 90% of the population but for new traders, who so often are led to believe that only daytrading is trading, it is as profitable and successful as trying to swallow a sword.
Like I say, if you can do it, keep doing it. But no experienced trader with any conscience at all should ever ever ever recommend that new traders go straight to daytrading.
I am a new trader guys only over a year of experience when started want to be a scalper jump in the market make your million and out again blown two accounts last years since new year started I am focused on swings account is small and I only do 2-3 trades per week with wide stops last 3 months I am profitable it is still education for me however swings are less stress less emotions involved and since finding this thread it has give me even more proof i am on the right paths everyone have choice to decide what kind of trader they want to be and what works for them but if you want less grey hair swings are the way.
Thank you The_Baller for this educational thread !!!
I will champion that statment by @karnei. I’ve blown account thinking I can make it by scalping only to get stopped out and then watch the market move in the direction I had anticipated. Had put me off from trading for sometime but decided to start again and have spent the first half of this year trying to figure it what I have been doing wrong. Then I started looking at wider time frames and stumbled across this thread. So thanks @The_Baller for starting this thread and sharing your knowledge, I’ve been doing well on the dummy accounts and am taking my first step to trading live account starting today.
I am in AUDUSD as well since last week entered at 0.6985 roughly the same price point as you nice to see that I am getting it same as professional trader also got EG short today
Glad to see you back on track and that all broker issues are resolved now. I am already in this short trade (AUDUSD) as well, aiming for the same TP level as you do, so it looks there are same thoughts and definitely some money lying in the corner.
Heh. I’ve been waiting for an entry on this pair, too.
My plan seems to call for a little more build-up at the resistance level, but if today’s candle does what it looks like it is going to do, I’ll be entering soon.
