Thoughts on Day Trading

i gave up on Day Trading too. My story is the same as of the people who gave up. I wanna stress on the mental damage day trading does to you especially when your country sucks with its local currency like mine ( $ is too high compared to local so losing $ is a big loss). When i used to sell for a loss with stop losses set, then lose again, win, lose that made me go crazy even slapping myself and burning out.

Its really not worth it if you dont have enough money saved up and you dont really care of losing, i would day trade if i was sleeping on big bags or i am finincially stable.
 
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sabertoothsalmon94 said:
Hi everyone

In february I got really interested in trading, I was obsessed with the markets and I tried to learn everything.

When I thought I had enough knowledge I opened a Binance account and deposited 1K.
If you've ever tried scalping you probably know what happened next
I lost everything in less than a week

One thousand bananas is really a lot of money for me but even after this loss I didn't want to give up trading. I learned technical analysis and now I'm focussing on the mental part of it (the markets are heavily manipulated and the retail trader basically always loses)

It seems to me like all the information available is just dogshit, in my entire life I haven't met anyone successful in this field and I'm just wondering, is it possible to really make money with this?

This guy on yt seems like he knows what he's doing, but again how do we really know he's making money with trading?

https://www.youtube.com/c/TradersReality/playlists

Please let me know what you guys think.
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The learning curve is 3-5 years. What did you expect to learn in 1 month?
 
Do the opposite of what you think is a good idea.

Extremely stressful.
 
In tradingview.com, you can try paper trading. Choose the scrip that suits you and practice trading with different time frame. The best chart view is Japanese candlestick and Renko. Practice trade like you're seriously doing it with real trading account.

You can learn monthly contract trading and long term investment in a short period of time.

For Intraday trading, you need practice for at least a year before going to Live trade. I prefer this one to catch quick money. Absolutely, you need your own strategy. Strategies given by YouTubers will get less accuracy over time.

Since Super computers are involved in high speed trading, a micro second delay in price movement can hurt retail traders.

Make sure you have fibre optical internet connection and desktop trading platform from your broker. Learn n earn. Best of luck!
 
It is a matter of controlling your greed. Yes, you gain money most of the trading system gives 20% of your investment so no lost for traders new or advance. You need to take the money with profits within the time frame.
 
is very difficult to predict price because there are whales
 
iDany said:
1. the youtube ones do it for attention and 99% of them are fake, there are real ones out there but the real ones don't try to show off, you probably won't even know they are trader.
2. there are some people who are making money but they also have large pockets that can tolerate the negative trade (their money doesn't get liquidated as fast)
3. I also lost a lot money in the past 10 years until I realized this whole market is designed to take your money, and to make money you need to be in top 2%.
I wish I would've realized sooner that I'm never gonna be in top 2% ... I made some money but I lost it all at the end, no matter how much I tried with different strategies.

after losing so many times my conclusion was that, there are much easier ways to make money than losing everything and going into debt, and I was right.
I just had to change my mentality and stay the hell away from get-rich-quick methods, which trading lives on. it's like gambling.

if you insist to stay on this a bit longer, the only advice I have for you is that Never and I mean NEVER use loaned/credit money for this. only use the cash you have.
remember there is 90% chance that you will lose, no matter how it seems. it's better to earn less than lose everything and going into debt.

now I'm using slow methods to make money, and I'm honestly in a very good position, I just wished I never listened to media and "so-called-experts' and chose the boring way from the beginning.
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Yes sure, I also in debt
 
Just curious... If I invest $1000/$2000 on btc at 47k then I hold and sell at 51k(as an example) within the same day or two and continue doing that but never sell if it goes below 47k or whatever initial price I bought it for. Is there a risk somewhere? In such a scenario, how else can you loose money apart from selling lower than what you bought it for?
 
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99% of retail traders fail.

So if you are new and don't know what you're doing I suggest you paper trade and learn from your wins and losses.

Another tip would be never get emotional with your money. It comes and goes.

I lost 15k day trading in the beginning now I make a living day trading with my partner.
 
I know people that do it and make good money, but it's real hustle and you need to have all the information to be successful
 
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