I wanna be a day trader

[FXSCALPER2]

1- Getting in tune with the daily bias (which is bollox)

2- knowing where the trade happens (at the edges)

3- Big balls

4- A cuople of thousand quid

Bob is your uncle.

 

[wasp]

Not sure having big balls teaches you anything, a requirement later but you need to learn first!

 

[wasp]

Well I thought I'd give this site one more go but it really is pointless. Can't even keep a simple newbies thread on topic and people sticking to the point so newbies get experienced members opinions on the best educational methods.

 

[kenobi]

Well I thought I'd give this site one more go but it really is pointless. Can't even keep a simple newbies thread on topic and people sticking to the point so newbies get experienced members opinions on the best educational methods.

rather simple...next time send them to watch and observe auctions and its participants. better lesson. after that, send them to learn physics, they will learn a bit about motion and resistance, after that.....well, after that, they can ask you a question about a chart.

 

[searchlight]

rather simple...next time send them to watch and observe auctions and its participants.

I don't think they would learn much.
sellers almost always have reserve price; which they won't sell below . If they don't sell ; there is always another auction. So no pressure there.No chance of loosing either.
Buyers paying for the object of their passion(painting,memorabilia,etc.). So money is not the determining factor.
Traders won't know if they are winners or not ; until they put whatever they purchased for sale.(retail or at another auction.) Even if they loose , it will be limited lost.

In financial trading everything is measured in monetary terms and feedback is instant.
The moment you( buy ,sell); you start in red. Then on constant unending pressure until
you close the trade. So they might come back with the distorted idea of what really buying and selling in financial markets is. Different ball game all together.

Searchlight.

 

[new_trader]

IMHO: The right 'tools' for the job at hand and then it's all study and practice (experience).

 

[JTrader]

First you need a robust trading plan.

But then, to become a successful trader, and inparticular, a successful Day Trader, where existing in the moment is the name of the game, it is essential for the person to get used to, and feel comfortable with feeling uncomfortable in the moment, without failing to enter the trade in the first place, or bailing out of a trade early.
All of my intraday trades make me feel a bit doubtful, but sure enough, more often than not, they continue to come to fruitition.
I sometimes get hunches that tell me to bail out now, typically for a small profit - which is better than a loss or breakeven afterall. However, more often than not, i will then see the trade move fuurther into profit - which i should have caught more of. So getting used to absorbing this type of discomfort while sticking to the plan, is a must in my opinion.