Intraday Trading is gambling

HolyGrail2222 posted:

togr posted:

Damien1881 posted:
For me, intraday trading did not work.
Stops always got run over so now I start with monthly and work down but don't go below 4hr.
Most of us and predict the movement for a couple of pips most of the time, do it on the monthly and you get a couple of hundred!
I check my charts once a day looking for entries or to close profits and that's it.
My positions are very small in comparison to most so I don't have to use stops and now I always win.
Stress free and positive results.

*If I wanted to trade intraday now it would only be with an ea that uses multiple time frame analysis.*

@Damien1881
How does it come such 'successful trader' like you posses only one real account which was not updated since 2015?

VONTOGR, your accounts and systems are all over the place, many of your accounts have been deleted or are in negative, WHy don't you just trust Damien. You do not need to be rude. People do not have to publish their accounts if they do not want to. I'd say VOntogr is just looking for investors to trust him, probably a scam too.

Because he Is promoting historie services bit He diesel not posses single real profitable account. Why would waste zimě to reader such Guy comments

Ehm. Because he is promoting historie own services, without sharing single profitable account

togr posted:
Ehm. Because he is promoting historie own services, without sharing single profitable account

Then you are right. It does not really matter now. You have experience here @togr most people trust you. People should not use this forum to promote their own stuff. Thanks for clarifying

Intraday is my preferred way to trade but I combine it with a bias in the longer term direction

Intraday trading is certainly not gambling. I made 400% in just two days.

https://www.myfxbook.com/members/savantfx/savantfx-skype/2223531

If you are going to intraday trade, you should really only spend 3-4 hours a day trading, im not sure why people would stare at charts all day as that would just hurt your eyes, risk .5-2% of your account per trade, 1:2 rr ratio, and trade the first hour of asian, new york, and london session as that is when market is most volatile, if you don't see moves and potential trades in the first hour of those sessions, market will be slow and it would be a waste of time looking for trades that might never show up, or higher risk trades then necessary, as it would be better to trade another day. you don't HAVE to trade every day, 20 good trading days a month, if you make 1 trade a week, risking 1% of account, all 4 trades win, you make 8% of your account in a month with 4 trades. Quality over volume is always better, just find the high probability trades that match your system and go for it.

savantfx posted:
Intraday trading is certainly not gambling. I made 400% in just two days.

https://www.myfxbook.com/members/savantfx/savantfx-skype/2223531

Gambling is harder than trading : )

Crazy.... you are going to blow your account if you continue at that pace lol

TheSlyFox posted:
Crazy.... you are going to blow your account if you continue at that pace lol

He is used to blow accounts

CrazyTrader posted:
Gambling is harder than trading : )

oh, really, how come? 😀

savantfx posted:
Intraday trading is certainly not gambling. I made 400% in just two days

ad now nothing left,private mode,hiding some bad news maybe

i agree the news all ways dictates how the market moves. I think it's better to trade after major news or open trades before major news & get out of the trade. You can trade after a major news release & be sure where the market is going !

GretarR posted:
i agree the news all ways dictates how the market moves. I think it's better to trade after major news or open trades before major news & get out of the trade. You can trade after a major news release & be sure where the market is going !

I concur. Avoid trading the actual news release, unless you know exactly what you are doing.

Intraday trading is not gambling, it's a strategy.

For some traders are gambling, for other a source of income.
Bottom line: Everyone have its own true :)

Unless your strategy sucks and then it is 50:50 gambling

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 this, in this way we can observe with a vision more aplia than what has happened, for the power to predict sometime what will happen.

Adelgrepling 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 agree with this, in this way we can observe with a vision more aplia than what has happened, for the power to predict sometime what will happen.

All of these large banks predict for example EURUSD will go to parity until end of the year.
Forecasting future of currency is like forecasting the weather - the longer time period in advance the more foggy results.
It is much easier to predict where will the currency be in next hour then next month.
Especially with big events like
09:30 EUR German Manufacturing PMI (Dec) 63.3 62.2 62.5
13:45 EUR Deposit Facility Rate -0.40% -0.40%
13:45 EUR ECB Interest Rate Decision (Dec) 0.00% 0.00%
14:30 USD Core Retail Sales (MoM) (Nov) 0.7% 0.1%
14:30 USD Retail Sales (MoM) (Nov) 0.3% 0.2%
14:30 EUR ECB Press Conference

Adelgrepling 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 agree with this, in this way we can observe with a vision more aplia than what has happened, for the power to predict sometime what will happen.

I don't agree with this, analyst forecast. Traders trade the facts which is what we see on charts, instantaneous price movements.