Intraday Trading is gambling

Btw, gambling is one of the additions hardest to overcome. If someone gets addicted to trading in a way that no indepth analysis is done anymore but just the hazardous feeling is leading, it can have bad consequences, like with the people that go to casinos and lose a lot. Just wanted to bring up this aspect as well.

LLewis posted:
Btw, gambling is one of the additions hardest to overcome. If someone gets addicted to trading in a way that no indepth analysis is done anymore but just the hazardous feeling is leading, it can have bad consequences, like with the people that go to casinos and lose a lot. Just wanted to bring up this aspect as well.

Yeah,

my EAs print money but they dont give me the Adrenalin feeling when you open trades during NFP and watch the profit (and inevitable loss)

For intraday trading - small time frames are used. Market behavior is the same models also, just all what is happen is much faster and requires adequate attitude and it is not suitable and comfortable for everybody.

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.*

Swing trading is gambling in slow motion

I don't Gamble. I have a plan that I created and it makes money consistently, I have an edge, I call it a Business.

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?

Sorry wont be updating live accounts here, I don't plan on Managing so is it really worth my risk to share financial info. I'm still here and that was 3 years ago, don't you think I might have learnt in my 8+ years of trading, I doubt I'd still be here if I hadn't. I'm happy not not share or participate in you thread if you desire.

If you look through the Anton Kreil Institute of Trading and Portfolio Management Youtube channel you will hear them say that intra-day traders are idiots. However their approach is quite different than mine, they are long term across multiple instruments and all about finding trade ideas and hedging positions.

Actually, Anton came to Perth a week or so ago and I paid $30 to go and listen to him in a 2 hour seminar. 20% of the seminar was content (about their traders and trading profiles) and rest was selling the institute, training and mentorship. Don't get me wrong, I respect the guy, but I also believe that if intraday trading is seen as gambling then all trading should be seen as gambling. What was interesting though, only 50% of the people that go through their program make money and of those the average return is 18% per annum - there are a couple that have doubled their money every year for a few years.

I prefer to look at it as the intention to make small profits from pattern recognition and chart conditions.

With risk comes reward whether you are trading long term or short term positions. I think the longer term positions actually carry more risk but everyone is entitled to their own opinions and you just got mine!!

camerongill posted:
If you look through the Anton Kreil Institute of Trading and Portfolio Management Youtube channel you will hear them say that intra-day traders are idiots. However their approach is quite different than mine, they are long term across multiple instruments and all about finding trade ideas and hedging positions.

Actually, Anton came to Perth a week or so ago and I paid $30 to go and listen to him in a 2 hour seminar. 20% of the seminar was content (about their traders and trading profiles) and rest was selling the institute, training and mentorship. Don't get me wrong, I respect the guy, but I also believe that if intraday trading is seen as gambling then all trading should be seen as gambling. What was interesting though, only 50% of the people that go through their program make money and of those the average return is 18% per annum - there are a couple that have doubled their money every year for a few years.

I prefer to look at it as the intention to make small profits from pattern recognition and chart conditions.

With risk comes reward whether you are trading long term or short term positions. I think the longer term positions actually carry more risk but everyone is entitled to their own opinions and you just got mine!!

They have a different outlook because most of their trades are stocks/ commodities and futures, long term investors not intra day traders, I think the last stat I saw was 64% make money,18% per year is pretty good when you look at how many hedge funds return negative. Intra day trading is gambling if you don't have a clear risk plan, most traders don't that's why the 90% lose money.

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.

And... trading and gambling are very similar, but some people that study trading for a long time are able to gamble with the odds in their favour. The difference between gambling and trading is that Trading is not absololutely random. In this way some traders can see systems or strategies that makes them earn alot of money. It is a game in which you can get odds on your side. In casinos it is only chance, in trading there are underlying rules which, if discovered , can produce profit. In pure gambling everyone is against the odds . In trading , some traders find the way to combine chance and probabilities and rules in order to produce consistent profit. After many years I haven't seen a system that is 100% risght, but I have seen many traders get around with consistent profit. It is possible to put the odds on your side if you understand the rules of the Markets.

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?

really good question

This statement is true only if you trade 100% by the technicals and looking at 5 - 15 mins charts all day. You wait for the next candle, bcoz you`ve read somewhere that if this candle looks like 'x' then the next one should look like 'y'. Porbably some trading guru introduced you to some fancy indicators too, so you can confirm your 'strategy' with them. But honestly you have no clue what is happening and why the price moves the way it does. So if you`re trading only by looking at charts all day then better to quit forex coz its just wasting your hard earnd money.

In reality intraday trading can be just as profitable as swing trading if you trade the fundamentals and sentiment, and try to understand that trading the news is not about buying or selling 1 second after the data release. Be familiar with the daily sentiment by reading the related news and use technicals only to enter and exit your trades. If you practice this (and by the way, it will be much less time consuming then going from chart to chart), your intraday trading will turn to profitable eventually.

So if someone says that intraday trading is gambling then theres a 99% chance that he has no idea what he`s talking about.

@ togr and rob559 - I've update my live account that I had abandoned, just for these MM's trying to discredit me while promoting yourselves, I didn't blow it, I had ignored it. To ASSUME is to make an ASS out of both U and ME
I did many courses years ago and wanted to point out that Andrew Mitchem from FPA uses and teaches his method of Technical analysis only, no fundamentals involved, I've met others, Trade empowered as another example also teach technical analysis -
https://tradeempowered.com/the-fundamental-myth/,
All I've learn't from INTRADAY TRADING IS GAMBLING IS, if you want to Manage others Money, create your own threads.
My point is, I've used what I've learn't, created my own system with back and forward testing, using nothing but technical analysis with LONGER T/F and low leverage. I found a way and was willing to share but it wasn't helping the hidden agenda so wasn't welcomed.
Now it's time to unsubscribe.
Good luck.
 

Damien1881 posted:
@ togr and rob559 - I've update my live account that I had abandoned, just for these MM's trying to discredit me while promoting yourselves, I didn't blow it, I had ignored it. To ASSUME is to make an ASS out of both U and ME
I did many courses years ago and wanted to point out that Andrew Mitchem from FPA uses and teaches his method of Technical analysis only, no fundamentals involved, I've met others, Trade empowered as another example also teach technical analysis -
https://tradeempowered.com/the-fundamental-myth/,
All I've learn't from INTRADAY TRADING IS GAMBLING IS, if you want to Manage others Money, create your own threads.
My point is, I've used what I've learn't, created my own system with back and forward testing, using nothing but technical analysis with LONGER T/F and low leverage. I found a way and was willing to share but it wasn't helping the hidden agenda so wasn't welcomed.
Now it's time to unsubscribe.
Good luck.
 

I was curious and checked out that link... it`s kind of a long video but i stopped watching it after a minute when i saw the 'big, bold, statement' that it begins with. That was the most ridiculous statement about forex I`ve ever seen in my life... I might continue watching it an other day when I`m in a bad mood, to cheer myself up with a good laugh.

When I saw the ridiculous prices I closed it all and also started to laugh! Thanks for the yoke, you made my day!😀

camerongill posted:
If you look through the Anton Kreil Institute of Trading and Portfolio Management Youtube channel you will hear them say that intra-day traders are idiots. However their approach is quite different than mine, they are long term across multiple instruments and all about finding trade ideas and hedging positions.

Actually, Anton came to Perth a week or so ago and I paid $30 to go and listen to him in a 2 hour seminar. 20% of the seminar was content (about their traders and trading profiles) and rest was selling the institute, training and mentorship. Don't get me wrong, I respect the guy, but I also believe that if intraday trading is seen as gambling then all trading should be seen as gambling. What was interesting though, only 50% of the people that go through their program make money and of those the average return is 18% per annum - there are a couple that have doubled their money every year for a few years.

I prefer to look at it as the intention to make small profits from pattern recognition and chart conditions.

With risk comes reward whether you are trading long term or short term positions. I think the longer term positions actually carry more risk but everyone is entitled to their own opinions and you just got mine!!

the main point here is if the guys Are successful traders why would they hold seminars. Good traders Are earning Money by trading, not mentoring

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