Intraday Trading is gambling

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.

fundamental feed into expectations and sentiment. expectations and sentiment change every day driven by data.

if you don't day trade you will see your profit melt away like ice-cream.

I really does not agree. Or agree at all. Let me explain:
All type of investment is a gamble. Even when you buy US treasuries you are gambling, because you don't have 100% garantee that US government will pay you in 10 years.

But the biggest difference between insvesting and gamble is risk management. There is a lot of formulas to calculate risk management. Find one and trade following it. A common risk management is using winning ratio and risk/reward per trade.

A day trade can achive easily 60-80% winning ratio trading only a specific price action candlestick formation called inside bars, using 1:1 risk/reward ratio. It is possible but it nedds at least 3-4h in front of a computer. At this pace he can find 4 or 5 setups daily, 80 to 100 setups a month.

Let's use a 60% winning ratio for this exercise:
60 winning trades x1 - 40 losing trades x1 = 20.

If our daytrader has 100.000 and risks 0.25% of his capital in every trade (daily risk here is less than 1%), we have:
20 x 0.25% = 5% monthly or 5.000 USD. A 2% risk per trade means 40.000 USD. But in a bad day, a 2% risk per trade can result losses at 8-10k, while 0.25% means only 1.250 USD.

Here goes another point... after losing 10.000 USD, our daytrader will keep his mental health and will keep following his risk management??? The answer for 90% of traders is NO, HE WON'T.


Another mistake from wannabe daytraders is the wrong Broker. Daytrader needs low spread, low comission, ECN brokers with rebates over high trade volumes. If you have a 2 pips spread, and your TP is 10 pips and your SL is 10 pips - your reward risk is not 1:1, but 0.8:1
Make the calc again:
60 winning trades × 0.8 - 50 losing trades x1 = -0.2!!!! A negative return.

What am I saying here is:
1) create and test your trading strategy
2) create a risk management strategy that fits in your trading strategy
3) follow 1 and 2
4) with real results, verify if 1 and 2 give the predicted return
5) improves 1 and 2.