Intraday Trading is gambling

prakash104 posted:

Tombuontien posted:
Well ,
Life is gamble...

Yes friend, whatever you said is true.But being a swing trader, I am trading slowly and I have linked my real live account with myfxbook. Also, now I am in a profit of 20% account growth.I am not doing intraday trading.Can you show me your trading results in myfxbook with intraday trading approach.??????

Sure, i think its about forecast (The big pic), timing ( like ocean waves ), money management and emotions (the 'market', and the hardest: the own)...

It is not gambling, being in a trade for hours is perfectly fine if you are very good at reading what price is doing. Being in a trade for seconds or a few minutes makes sense only if you have an algorithm and have huge funds so that you able to tell keep spreads very very low.

I agree. No trading is gambling if one has the tested strategy for it. 'Tested strategy' being the operative phrase here.

Not only tested strategy is enough.If you fail to follow your trading plan with discipline, then you are gambling in the markets.

Hi guys,

first you need trading plan. It does not matter what timeframe and what trade duration you trade.

It does matter if you are satisfied with your plan. With the trades opening, closing, your risk, profitability.

It could be easier to execute your plan via EA, especially when scalping.

I believe not many people here have will strong enough to stick to these very basic.

BR

Tomas

togr posted:
Hi guys,

first you need trading plan. It does not matter what timeframe and what trade duration you trade.

It does matter if you are satisfied with your plan. With the trades opening, closing, your risk, profitability.

It could be easier to execute your plan via EA, especially when scalping.

I believe not many people here have will strong enough to stick to these very basic.

BR

Tomas

True, sticking to one's trading plan regardless of the circumstances is a difficult task that requires a lot of discipline and emotional fortitude.

This is all relative to opinion, in the end nothing matters but the numbers.

FusionPRO posted:
This is all relative to opinion, in the end nothing matters but the numbers.

And that's the debatable part, the numbers! Your stats are awesome, low DD and good gain.

The more the numbers increase, then it can be a matter of 1 or 2 trade sequences that will blow it, that's what newbies don't see. Understand the numbers people.

Magiic posted:
And that's the debatable part, the numbers! Your stats are awesome, low DD and good gain.

The more the numbers increase, then it can be a matter of 1 or 2 trade sequences that will blow it, that's what newbies don't see. Understand the numbers people.

Thanks for your kind words.

That is true the main problem I tend to come across with traders on here is they are trying to generate excessive high returns but in doing so this generally creates more risk as you'd imagine and then the majority struggle to last longer than six months. Not always the case but for the most part I feel it is accurate.

Traders really need to learn early on that Forex is more of a marathon than a sprint. If you try to sprint you'll just fall on your face more often than not.

Truly a marathon..

I think stay too much time on market is gambling. Cause of news. You can't predict in long term the market. You can't guess good or bad news.
Less you stay on the market more you can predict price.
It's my opinion of course ;)

Elena Chopin

Elena_Chopin posted:
I think stay too much time on market is gambling. Cause of news. You can't predict in long term the market. You can't guess good or bad news.
Less you stay on the market more you can predict price.
It's my opinion of course ;)

Elena Chopin

yes exactly!

Elena_Chopin posted:
I think stay too much time on market is gambling. Cause of news. You can't predict in long term the market. You can't guess good or bad news.
Less you stay on the market more you can predict price.
It's my opinion of course ;)

Elena Chopin

BTW were you user altescgroupinc here on MFB?

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 !

yique 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 !

Not necessarily. Sometimes all the market does is form a whipsaw and return where it was before the news.

togr posted:

Elena_Chopin posted:
I think stay too much time on market is gambling. Cause of news. You can't predict in long term the market. You can't guess good or bad news.
Less you stay on the market more you can predict price.
It's my opinion of course ;)

Elena Chopin

BTW were you user altescgroupinc here on MFB?

????

Elena Chopin

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.

mlawson71 posted:

yique 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 !

Not necessarily. Sometimes all the market does is form a whipsaw and return where it was before the news.

Yes, thats a ''knee jerk'' reaction to the news relkease & can be traded by ''fading the spike''. But something like an interest rate decision or NFP & you'll know where that market is going !