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Intraday Trading is gambling
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prakash104

Member Since Feb 07, 2016  18 posts prakash (prakash104) Jun 14 2016 at 07:44
Major drawback in intraday trading is watching 5 or 15 minute or 30 minute charts all day.
This will make you sick and your eyes will be under severe pain.You will need a doctor because now you are addicted to intraday trading.

"Slow and steady wins the race"
BenNathanFX

Member Since Sep 06, 2013  135 posts Ben Nathan (BenNathanFX) Jun 14 2016 at 13:54
LOL!

HOLY GRAIL: Fundamental Analysis to chose your pairs/direction, Technical Entry/SL/TP for consistent Management of those decisions
mlawson71

Member Since Dec 11, 2015  1326 posts mlawson71 Jun 19 2016 at 08:18
The 15-minute chart at least can give pretty good short-term signals, I would call using it 'gambling'.

togr

Member Since Feb 22, 2011  3409 posts vontogr (togr) Jun 19 2016 at 10:00
prakash104 posted:
Major drawback in intraday trading is watching 5 or 15 minute or 30 minute charts all day.
This will make you sick and your eyes will be under severe pain.You will need a doctor because now you are addicted to intraday trading.


Well you need to see from another point of view.
Trading is about forecast future. You need to estimate if pair move up or down.
It is like weather forecast. They could do it for today or perhaps tomorrow. For a week or month? It does not work:)
So IMHO trying to forecast future for very close time has better success than for long term.

I like what I trade, I trade what I like
Serenity271

Member Since May 29, 2016  2 posts Serenity271 Jun 20 2016 at 06:30
togr posted:
prakash104 posted:
Major drawback in intraday trading is watching 5 or 15 minute or 30 minute charts all day.
This will make you sick and your eyes will be under severe pain.You will need a doctor because now you are addicted to intraday trading.


Well you need to see from another point of view.
Trading is about forecast future. You need to estimate if pair move up or down.
It is like weather forecast. They could do it for today or perhaps tomorrow. For a week or month? It does not work:)
So IMHO trying to forecast future for very close time has better success than for long term.


It's the other way around. Look at forecasts from major banks. The don't have a forecast for the next 15 minutes or the next day. For them it's about what will happen in the next few months or years.

togr

Member Since Feb 22, 2011  3409 posts vontogr (togr) Jun 20 2016 at 07:25
Serenity271 posted:
togr posted:
prakash104 posted:
Major drawback in intraday trading is watching 5 or 15 minute or 30 minute charts all day.
This will make you sick and your eyes will be under severe pain.You will need a doctor because now you are addicted to intraday trading.


Well you need to see from another point of view.
Trading is about forecast future. You need to estimate if pair move up or down.
It is like weather forecast. They could do it for today or perhaps tomorrow. For a week or month? It does not work:)
So IMHO trying to forecast future for very close time has better success than for long term.


It's the other way around. Look at forecasts from major banks. The don't have a forecast for the next 15 minutes or the next day. For them it's about what will happen in the next few months or years.


I did look at forecast of big bank. They were wrong. For example all of them did forecast EURUSD will go to parity by end of 2015. It did not happen.

I like what I trade, I trade what I like
Serenity271

Member Since May 29, 2016  2 posts Serenity271 Jun 20 2016 at 08:02
togr posted:
Serenity271 posted:
togr posted:
prakash104 posted:
Major drawback in intraday trading is watching 5 or 15 minute or 30 minute charts all day.
This will make you sick and your eyes will be under severe pain.You will need a doctor because now you are addicted to intraday trading.


Well you need to see from another point of view.
Trading is about forecast future. You need to estimate if pair move up or down.
It is like weather forecast. They could do it for today or perhaps tomorrow. For a week or month? It does not work:)
So IMHO trying to forecast future for very close time has better success than for long term.


It's the other way around. Look at forecasts from major banks. The don't have a forecast for the next 15 minutes or the next day. For them it's about what will happen in the next few months or years.


I did look at forecast of big bank. They were wrong. For example all of them did forecast EURUSD will go to parity by end of 2015. It did not happen.


They can't be right all the time.

Magiic

Member Since Jul 08, 2014  435 posts Magixs (Magiic) Jun 20 2016 at 08:20
Serenity271 posted:
togr posted:
Serenity271 posted:
togr posted:
prakash104 posted:
Major drawback in intraday trading is watching 5 or 15 minute or 30 minute charts all day.
This will make you sick and your eyes will be under severe pain.You will need a doctor because now you are addicted to intraday trading.


Well you need to see from another point of view.
Trading is about forecast future. You need to estimate if pair move up or down.
It is like weather forecast. They could do it for today or perhaps tomorrow. For a week or month? It does not work:)
So IMHO trying to forecast future for very close time has better success than for long term.


It's the other way around. Look at forecasts from major banks. The don't have a forecast for the next 15 minutes or the next day. For them it's about what will happen in the next few months or years.


I did look at forecast of big bank. They were wrong. For example all of them did forecast EURUSD will go to parity by end of 2015. It did not happen.


They can't be right all the time.

Keep at it
Magiic

Member Since Jul 08, 2014  435 posts Magixs (Magiic) Jun 20 2016 at 08:21
so why try to claim one is insignificant and the other is the way, many ways to achieve the same goal, especially with something as large as FX.

Keep at it
twalk

Member Since Mar 04, 2016  5 posts twalk Jun 30 2016 at 06:36
togr posted:
Trading is about forecast future.


Trading is not about forecasting. It is about waiting for a good move and enter it, hoping it will continue. MM is doing the rest. It is impossible to forecast price moves, they can go up, down or ranging at anytime, and just because a trend appears, it can reverse the opposite because most of the traders entered at this point.
If price goes up, everyone buys so price goes down, etc. No way to predict anything. It is like two people crossing each other without knowing if they cross by the right or by the left.
Just knowing how strong is the move is a way to be right with more than 50% probalility. This is not foecast at all, this is watching what just happened.

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