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Intraday Trading is gambling
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FxMasterGuru

Member Since May 04, 2012  1565 posts FxMasterGuru (FxMasterGuru) Aug 21 2016 at 14:37 (edited Aug 21 2016 at 14:37 )
You are right, but the given examples are not the best.

1. I can give you a strategy with 298 wins from 300 trades, but still, it would be a loser strategy.

2. Pro poker players don't win 298 out 300 hands, but still many of them are millionaires...

In other words: Not an extremely high Win : Loss ratio is the main hallmark of a profitable strategy.

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
yique

Member Since Nov 16, 2012  4 posts jamie richardson (yique) Aug 22 2016 at 05:06
I agree, a very high win rate does not necessarily mean a winning strategy. 1 losing trade out of 300 can blow your account if not managed properly. But 298 winners out of 300 does prove that it's no roll of the dice, close your eyes & hope for the best ! Even if your a genius mathematician in a casino counting all the outcomes on a poker or roulette table to gauge your bets.

togr

Member Since Feb 22, 2011  3409 posts vontogr (togr) Aug 22 2016 at 05:09
yique posted:
FxMasterGuru posted:
Intraday trading is 'gambling' only for those who don't know how to do it right.

It is as much 'gambling' as playing poker is 'gambling' for professional poker players...

BTW, I concur with previous statements of HolyGrail, Tomas (vontogr) and Elena.


I have won 298 trades out of 300. If you can win that many roullete of poker games in a row then yes fx trading is gambling !


Once I had strategy that makes 100% wins. After making like 200% it wipes account.
100% wins does not matter. Risk/reward does.

I like what I trade, I trade what I like
MuppetTrader

Member Since Sep 04, 2016  4 posts Muppet Trader (MuppetTrader) Sep 07 2016 at 06:40
I have been trading the markets for ages. The excitement is always in the shorter timeframes.. I remember I started looking at the 15 minutes, then the 5 and then the 1 minute timeframe. The problem is that there are massive highs and lows if you see the market going up when you've bought and massive lows when you sell.. then you realise that it's just the 1 minute chart and you got all excited by a 10 pip movement!

I personally found it far too stressful and it's far too addictive. It's like a drug and draws you in. There's too much noise in the lower timeframes for it to work for me and I'm sure there are people who are deeply successful trading these timeframes but it's not for me.

Most of my trading is now the Daily timeframes and if I fancy a bit of excitement, it's the 1 hour charts I look at. I'm much more successful with my trading now, it's relatively stress free and in fact, it's rather boring! So for me, boring trading = profitable trading.


Visit mforexonline .com /muppettrader@
mlawson71

Member Since Dec 11, 2015  1329 posts mlawson71 Sep 10 2016 at 09:04
Not only is there too much noise on the lower time frames, but they are less reliable when it comes to the signals you see on them. I prefer the 4-hour and daily time frames myself.

topcrossfx

Member Since Feb 16, 2016  2 posts topcrossfx Sep 11 2016 at 11:45
I don't think it matters whether you're day trading or swing trading as long as you understand your trading system well. I personally have spent a great deal of time to master my day trading strategy. It took me a while to be able execute my trades well and consistently profitable.

JayTeeFX

Member Since Aug 25, 2016  18 posts JayTeeFX Sep 14 2016 at 07:29
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 agree with Togr here - majority of the long term bank calls I see end up being wrong. Their trick is you forget their calls after a while. Predicting over shorter time frames is often an easier task. But stop placement can be tricky and a real killer.

olivia_jones

Member Since Sep 15, 2016  20 posts olivia_jones Sep 16 2016 at 06:42
Well, Intra-day trading is a nerve racking job mostly suited to the well discipline traders with whole length knowledge of current market environment and who are firm enough to take a high degree of risk. Constant attention is needed to go through the 5 or 15 minutes charts and fix the positions accordingly. Intra-day trading demands active trade which shoots up the trading cost as well. For a newbie trader, intra-day is like taking a shot in the dark which often ends up in losses. An intraday trader needs to be highly disciplined with strict stop losses and profit targets as intraday volatility can easily cause profits to turn negative in matter of few minutes.

Andreadylon1

Member Since Sep 13, 2016  1 posts Andreadylon1 Sep 19 2016 at 13:40
Yes intraday trading is gambling. It is all about guessing the trend of market over a 15 or 30 minutes chart and start trading. If the day is in your favor then you will be considered lucky as you make some profit in the range bound. But be prepared for loss too when you face range breaks. Undoubtedly you can protect yourself by stop loss, but we never know where market will move. Also this trading is against fundamentals most of the time which makes it less trustworthy.

snapdragon1970

Member Since Sep 12, 2015  1669 posts kieran (snapdragon1970) Sep 20 2016 at 12:12
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.

Depends on what side of the trade they are on.

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