Thoughts on trading after 3 years

tomorton

Legendary member
8,403 1,338
.......
I wish to start.. if necessary a debate around....

1) Intraday/Day Trading, is far more lucrative than Swing trading...one shoots for a target, banks the proceeds and waits for the next day.(of course, money/account management being key), i will prove it.

2) If you have many traders/institutions looking at the same set of rules and acting upon them you effectively have more "market push" at execution.

3) Large Institutions with Large Pockets, Financial Institutions if you like, actively Day Trade.

4) There is a set of rules out there updated real in time on the chart in front of you.

5) Fellow Traders, you will be honestly astounded at the reaction around certain price levels, that are indicated on your chart.

So lets go, i am loaded and ready for the first question/s

PS: i am all for the "Team Effort" as in item 2)

Cheers donno -

1) Maybe it is more lucrative but day-trading has certainly cost me money each time I've trialled it. There's nothing inherent about day-trading that says it is unworkable but I always always advise new traders to avoid it, 90+% of them who do try it will lose their money really quickly.

2) Yes, I have seen private retail traders move prices on mid-caps and small-caps. But these days I'm almost wholly in forex so we have absolutely zero power there.

3) Agreed. Who thinks they don't?

4) Not sure what you mean.

5) Yes, this is visible constantly on various charts. The problem I have with price-spotting (selecting support and resistance levels, trend-lines etc.) and price-rating (selecting which lines will be the most potent and worth acting on) is that there isn't an objective way to do this. The only way two traders will ever draw up the same s/r on the same chart is by random chance. So I don't even bother.

Have a good evening.
 

donno1580

Junior member
31 7
Ok fellow traders, i seem to have some attention, i felt the heat from my inbox.

Firstly fibo_trader, thanks for your prompt response and getting us over the start line. "<<<<<< = more super heated steam out the ass? :):):):) "

It is evident that the content of my writing P!ssed you off somewhat evidenced by your subsequent follow up posts.
i apologize for hitting a nerve now chill and let me try and explain.

You have taken time to pick out excerpts from my posts and comment...., i am truly flattered.:)

Now i am in no way intending to disrespect/rewrite the book/re-invent the wheel in trading.
i am simply going to prove a point, that has evolved and been indelibly imprinted on my psyche as i have progressed through the forex maze.

Trend lines, Channels, Triangles, Multi Time frame Analysis....... all require history/past behavior to equate "Technical Analysis"

earlier i was referring to the "reaction of a certain candle on a lower time frame chart at some point in time gone, and what to expect next."strategy.. there are millions out there!

Therefor i apologize for falling over my face earlier as Intraday vs Swing Trading is actually what is meant to discuss.

When i referred to moving average crossovers, they indeed work very well in trending markets, as do other strategies but fall short dismally in ranging markets.

Take say a 1 hour chart and apply a cross combination of any choice on it, backtest it and you will certainly here the squeek.

I started with Swing Trading"Letting Profits Run" and got to Intraday trading which i believed, initially was a waste of time.

Now i have found the latter very...(calm down :))...profitable and not to mention, mentally stimulating.

i AM making Money almost on a Daily basis, and when i have shared this info, as i have mentioned above, to have a collective push at the right time, the objective is achieved as it indeed already is, as Big Money is Traded Intraday. (+-$5.1 Trillion)

(i do not intend to try to shift the poles:))

Not to mention "putting back" or contributing in a small way for all the resources made freely available out there from all the benevolent contributors during my forex journey, for others to benefit....,heck i am going to be alright when i retire.

Let's start then........................

1) Ok, so Fundamental Analysis 1 July 2019 "Pound Plummets against the Dollar"(Brexit)
This is evident on the 4hour Chart indeed and swing traders would catch the ride.

2) There are counter trends on the lower time frame(30 min) 10 july 2019(see insert)

This is my point... i made 1000+, yes a 1000+pips in Feb 2019 whereas swing trading would have netted 300 with lower gearing because of the initial stop loss, risk management employment

The average stop loss in the intraday trading during this period was -15 pips, not to mention the increased gearing as the account advanced/grew.

Yes it is not always right...., but what is??
That is exactly why in trading that one would wisely risk between 2 and 10% per trade.


The main objective of this exercise in fact, is to hopefully help the users of this fine platform(it is after all a forum), to create a think tank/collective resource to improve the strategy.

Any One Else?, have a GR8 Day
 

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tomorton

Legendary member
8,403 1,338
Oh, tomorton. i am sorry about your trials in intraday , i can help if you like, no disrespect.

Thanks for the offer donno. Regret to say I am now so discouraged by the whole effort I wouldn't take you up on it. Not that it can't work, I'm sure it can - just recognising it seems to be a style contrary to my nature so I've got to let it go.
 

donno1580

Junior member
31 7
Cheers tomorton, may you be very successful moving forward.
 

Stan1T

Junior member
15 7
Do you have enough statistical proof to claim that?

Not sure anyone can make a claim difinative like that. If there were a hard rule like that in trading you could just set a scanner for it and let 'er rip. Be rich with no work or effort.
Doesn't exist.
 
M

member588978

0 0
Fur Hauptmann donno - posted by fibo in another thread days ago. See the very first moving average cross on the right side of chart? That is the end of the 3rd wave. What anybody with commonsense knows is tht a 4th wave of commensurate length and duration will follow and it will be a sideways affair.

EurUsd in the massive bear wave May 8, 2014 to exit May 1, 2015 = 1-year short. Aha, aha, see the fckup after the run? Look to the right and see the giant fckup that could destroy fibo's profits - all of it would be took-ed away. But fibo is too smart for stupidity of that ilk. He took-ed the money and ran to Avatar.


265018
 

hatemypips

Established member
689 59
What's your view on GBPUSD ahead of the Fed July meeting? Is it makes sense to long this pair ahead of possible big rate cut by the Fed? Or its purely driven by Brexit concerns currently?
 
Last edited by a moderator:

NVP

Legendary member
37,758 2,100
hey Dunno.....welcome to T2win ........will take a look at the thread and (naturally) throw my hat into the ring later ......so far your approach reminds me of a mate who changed the landscape on T2win a few years back .....we all got banned a few times ....but thats just banter ......;)

dont fall on the sword so soon dude .....or PM me here and I am happy to talk through what you are up to .......there are people making consistent money daytrading ........so dont worry about the banter here ........its just that ...different opinions and banter

N
 

donno1580

Junior member
31 7
Hey NVP
A breath of fresh air, thank you so much for your kind words, delighted to make your acquaintance, i am just the type who has gone through life with the "think out the box" attitude and i have been quite ok with that philosophy so far. I appear to'flip flop" at times with new ideas, but the "Banter" is always in the line of finding fault rather than trying to be constructive, i sense a lot of animosity out there and am saddened to see that the subject all too often drifts off from the point of focus being the purpose of this fine platform. Sharky initiated the "Thought...." thread as initially i did not know even how to navigate on the platform.

Would be glad moving forward with your input.
 

donno1580

Junior member
31 7
What's your view on GBPUSD ahead of the Fed July meeting? Is it makes sense to long this pair ahead of possible big rate cut by the Fed? Or its purely driven by Brexit concerns currently?
ok so the Fed is (probably) going to lower by x basis points which which is supposed to lift the dollar, and Brexit is not over yet. who knows?

It is my view that fundamental analysis is at the end of the day "an educated guess", and therefor i am focusing on an intraday strategy for quick in and out targets.
 
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NVP

Legendary member
37,758 2,100
Ok fellow traders, i seem to have some attention, i felt the heat from my inbox.

Firstly fibo_trader, thanks for your prompt response and getting us over the start line. "<<<<<< = more super heated steam out the ass? :):):):) "

It is evident that the content of my writing P!ssed you off somewhat evidenced by your subsequent follow up posts.
i apologize for hitting a nerve now chill and let me try and explain.

You have taken time to pick out excerpts from my posts and comment...., i am truly flattered.:)

Now i am in no way intending to disrespect/rewrite the book/re-invent the wheel in trading.
i am simply going to prove a point, that has evolved and been indelibly imprinted on my psyche as i have progressed through the forex maze.

Trend lines, Channels, Triangles, Multi Time frame Analysis....... all require history/past behavior to equate "Technical Analysis"

earlier i was referring to the "reaction of a certain candle on a lower time frame chart at some point in time gone, and what to expect next."strategy.. there are millions out there!

Therefor i apologize for falling over my face earlier as Intraday vs Swing Trading is actually what is meant to discuss.

When i referred to moving average crossovers, they indeed work very well in trending markets, as do other strategies but fall short dismally in ranging markets.

Take say a 1 hour chart and apply a cross combination of any choice on it, backtest it and you will certainly here the squeek.

I started with Swing Trading"Letting Profits Run" and got to Intraday trading which i believed, initially was a waste of time.

Now i have found the latter very...(calm down :))...profitable and not to mention, mentally stimulating.

i AM making Money almost on a Daily basis, and when i have shared this info, as i have mentioned above, to have a collective push at the right time, the objective is achieved as it indeed already is, as Big Money is Traded Intraday. (+-$5.1 Trillion)

(i do not intend to try to shift the poles:))

Not to mention "putting back" or contributing in a small way for all the resources made freely available out there from all the benevolent contributors during my forex journey, for others to benefit....,heck i am going to be alright when i retire.

Let's start then........................

1) Ok, so Fundamental Analysis 1 July 2019 "Pound Plummets against the Dollar"(Brexit)
This is evident on the 4hour Chart indeed and swing traders would catch the ride.

2) There are counter trends on the lower time frame(30 min) 10 july 2019(see insert)

This is my point... i made 1000+, yes a 1000+pips in Feb 2019 whereas swing trading would have netted 300 with lower gearing because of the initial stop loss, risk management employment

The average stop loss in the intraday trading during this period was -15 pips, not to mention the increased gearing as the account advanced/grew.

Yes it is not always right...., but what is??
That is exactly why in trading that one would wisely risk between 2 and 10% per trade.


The main objective of this exercise in fact, is to hopefully help the users of this fine platform(it is after all a forum), to create a think tank/collective resource to improve the strategy.

Any One Else?, have a GR8 Day


hey D

ok i am catching up on the thread ..........firstly welcome to day trading ........I get you dude

I am much more profitable (per trade) on the dailies ..........but thats like watching paint dry..... and doesnt offer me the trading volume of lower timeframes ....i get loads more signals and whilst the returns are lower per trade % wise - I am leveraging my capital a lot more ...im also keeping less capital with brokers that is really important to me these days

so good luck to you .......happy to share ideas .....my approach is on my thread .....2.4 million views to date and as plain as day ............its not rocket science ...i monitor the direction and power of the G8 currencies for the period/session concerned (Asian , london, US , daily , weekly , monthly) and go with the flow on the alpha currency pairs ......

its so simple its daft ....but every day i talk to a lot of traders who are blindfolded on trading "favourite pairs" and other strategies that limit their earnings....i will suggest currencies/pairs that are moving and they say "nah - I really cant trade that pair ......dont like it .........i like my pair because .........blah blah"............so they stay entrenched trading a pair that has just a 27/1 chance of being the best pair to trade at any 1 time .......and THAT is why only a small % make the grade in Trading

so keep thinking outside the box .......its the only place to be dude

anyway enough ......this is not my thread

cheers
N
 
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donno1580

Junior member
31 7
hey D

ok i am catching up on the thread ..........firstly welcome to day trading ........I get you dude

I am much more profitable (per trade) on the dailies ..........but thats like watching paint dry..... and doesnt offer me the trading volume of lower timeframes ....i get loads more signals and whilst the returns are lower per trade % wise - I am leveraging my capital a lot more ...im also keeping less capital with brokers that is really important to me these days

so good luck to you .......happy to share ideas .....my approach is on my thread .....2.4 million views to date and as plain as day ............

N
Hey N

Thanks Man, i am rushing over there now, sorry where will i find it [embarrassed]
 
 
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