Daytrading---Straight answers!

[vergis92]

you are correct there too
and i like to bring to your attention your coments

1)daytrading is less risky, WRONG! daytrading is about 3 times more risky than
longer term trading, you risk getting stopped out unessarilly for the day just because
of a single day deviation (caused by daily news) even though you have predicted
the longertem trend right.

incorrect


2) technical analysis and some indicators can accurately predict price turning points:
BIG FAT LIE! no one can , and no single indicator is of any use on its own

your first part is correct and incorrect there is no indicator that will give you turning points as for TA it depends what your definition of TA is
as for predicting turning points you are incorrect there are

and what are those then?
it's certainly not Fib ratios, or lss numbers, when they work they do an excellent job
but don't always work,

 

[andycan]

and what are those then?
it's certainly not Fib ratios, or lss numbers, when they work they do an excellent job
but don't always work,

correct again the trick is knowing when they work
but fib ratios has value to a degree along with elliot wave and so many other methods

 

[de123]

10-1 win loss are considered home runs they will happen sometimes but most of the time you wont get that certainly not in day trading and certainly not as a newbie trader

Andy

but its possible, i made 10 vs 1 when i was scalping,....and this is the only way for newbies i would say....thats why we call them newbies
but u have to be fast, and whatch the market deph for directon...when prices stop to go up,...they usually go a little or a lot down....

 

[andycan]

but its possible, i made 10 vs 1 when i was scalping,....and this is the only way for newbies i would say....thats why we call them newbies
but u have to be fast, and whatch the market deph for directon...when prices stop to go up,...they usually go a little or a lot down....

of course its possible if anything its perfectly realistic but for a seasoned trader yes for a newbie i dont believe its realistic certainly not consistantly, and to say that to a newbie is completely misleading
there is always the fast days and they are bonuses but that is not always the norm my comment was directed at CYOF at the time based on his claim which from reading his post did not measure true to me