Why even daytrade?
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Thread: Why even daytrade?

  1. #1
    I wonder why anyone will waste , although It's definitely not for me?
    Lets say you're watching 5 instruments, each at 20min, lets say you watch screens for 8 hours each day you get 5*3*8 = 130 pubs every day.
    130 pubs, depending on how picky you're with your trades that can spawn any number of trades, for me it could be 5. Likely 1-2 trades largely if .
    So much could go wrong whilst daytrading, you're under pressure to make quick decisions, you can overtrade, you'll get bored, mad in the markets, trying to earn money back into a rage, spiraling out of control and all the fantastic things that lots of people understand from daytrading.

    Compare it to going through 130 tools after market close on daily bars. You buy 130 new pubs, less noise, you're more concentrated and aren't under time pressure to perform and make quick decisions.
    Above all you do not have to wait for things to occur, if there is not a trade you can just move on to the next chart, maybe add a new trendline and move on.
    This way of trading is really amazing for me I can not fathom why people would waste their time looking at intraday charts at all.

    Could someone make the case for daytrading?

  2. #2
    Using bigger accounts to attempt to ch moves.

    People wrongly believe that the market is TOP to BOTTOM when in fact is BOTTOM TO TOP.

    The tick will create the minute which will make the hour, which will make the afternoon, which will make the week, which will make the month, and this will make the year.


    The more you zoom out. . .the more the guess work

  3. #3
    The Further you zoom into the Tougher it becomes to beat the spread

  4. #4
    Very true. I dont enjoy intraday trading. I've done just a bit of its own fruing and it and angering at precisely the same moment.

    I am by no means experienced but Ive made more on daily charts than intraday. IN fact Ive lost trading intraday and even backtesting using Forex tester, its so fruing to test intraday and choppiness. I guess its personality, intraday does not suit me.

  5. #5
    It's all about the dead presidents. I watch one pair and one pair just (EURUSD), I as a scalper exchange 2-3 hours a day, then package up and enjoy the rest of my daily life.

    The guy above is completely correct, the more elaborate the time frame that the more guesswork. You don't have any idea what mad policies will create massive movements, but it's really easy to guess where something is going on the 5 m chart.

    Yes, it's harder to overcome the spread, but with the right broker it's hardly an issue.

  6. #6
    Quote Originally Posted by ;
    It's definitely not for me personally, however, I wonder why anybody else would waste their time trying to daytrade?
    Lets say you're watching 5 instruments, every at 20min, lets say you see displays for 2 hours each day you receive 5*3*8 = 130 pubs per day.
    130 pubs, depending on how picky you're with your transactions which may spawn numerous transactions, for me personally it could be less than 5. Likely 1-2 trades mostly if even.
    So much could go wrong whilst daytrading, you're under pressure to make fast decisions, so you can overtrade, you'll get bored, angry in the markets, trying...
    Daytrading only suggests that you open/close place in precisely the exact same day. You can catch digit profits with daytrading if you're good enough, spread/noise shouldn't matter.

    What I like about day trading would be the opportunity to grow faster. Sure place traders/swing traders like the'stress free' trading, but they need to take care of different market conditions over months or even years. Daytraders can find out mcuh.

  7. #7
    For studying seeing pubs is, that is true. But there is always replay.

  8. #8
    Quote Originally Posted by ;
    The more you zoom in the harder it becomes to beat the spread
    That is certainly true. For day traders trying to conquer their costs in terms of spread and slippage is the reason that they lose money in the long term.

    Look at the Euro daily chart. Dropped from 1.49 to 1.27 so 2200 pips however, it required 178 days. Movement but only 12 pips/day and you've got a 1000 pip rally in the middle so any tendency follower would have got knocked out until the final leg down.

    Anyway the big reason to day trade is you could get 0-5 trades / day that may easily equate to 1000 / year. So the expectancy of your system should play out. On a daily chart you'd be lucky to get 3-5 / year / pair. And the correlation among associated pairs is large so that there aren't that many independent trades.

  9. #9
    Different strokes for different folks

    some people favor the fast paced environment of daytrading, but others favor the slow tempo of position/swing trading.

    I am unsure what the point of the thread is. It is, just like it's challenging to spot trade/swing trade, if you're stating that daytrading is challenging, yes.

    But when the argument is that daytrading is a loser's game, then we could argue with language all we need, but I've looked at trading outcomes from powerful daytraders (both manual and auto). So far as longetivity is concern, I mean that is up to individiual to interpret what is regarded as a successful track record.

  10. #10
    Quote Originally Posted by ;
    It's all about the deceased presidents. I see one pair and one pair only (EURUSD), I as a scalper exchange 2-3 hours every day, then package up and revel in the rest of my daily life.

    The guy above is completely right, the higher the time period that the more guesswork. You have no clue what crazy political policies are going to create massive movements, but it is really easy to imagine where something is happening the 5 m chart.

    Yes, it is more difficult to overcome the spread, but with the right broker it is hardly an issue.
    Agreed. And here in the UK it is potential to trade EURUSD with no spread

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