Jump to content

Can scalping make money for retail traders???


Guest rachelbarnes

Recommended Posts

Guest rachelbarnes

Day trading success rate is <1 % of traders make any money,according detailed searches on google, by searching for success rate of day traders.Scalping is even riskier, because the scalper  risks more and takes small profits.Would the trader not be better off, trading longer term and swing trading?

 
Link to comment

As with pretty much everything the answer is "it depends".  If your mentality is to need to constantly watch every move at 1 or 5 minute charts (even ticks) and never to hold over night and certainly not over the weekend then Day trading is for you.  Such people need to find a system that works for intra-day moves.  I tried it when I first started and realised it wasn't for me so researched the topic and found many examples of where people have sworn off day trading in favour of long term/swing trading.  I prefer this because I feel I cannot hope to compete with the high speed computer trading and I don't want to be glued to the screens all day (cannot be anyway as I have other things that occupy my time).  So I developed a method, from multiple existing sources, to allow me to analyse in detail at various time-frames looking for trends and more particularly swing points with a higher than 50/50 probability of success and low capital risk if wrong.  This suits my risk appetite, analytical strengths/personality, and keeps me from over trading (a killer!).

However you will find people on the Forum who think and operate exactly opposite to what I have just outlined and that may well be working for them.  So it is horses for courses I think.  The only observation I would make is that novice traders tend to start with day trading because they don't know what else to do.  They don't have a methodology (system) they have researched, tested and developed to suit their own personality, strengths, weaknesses etc and don't actually understand fully what all the technical indicators and so on really do.  Therefore they watch every move to try and manage risk by getting out if the market twitches against them.  They have not mastered their own psychology, indeed probably have not even thought about it.  They have not worked on demo for months, maybe even years before jumping right in.  No wonder so many retail traders lose, it is because they do not approach it like a business.  Would you just set up a business with no experience, training, expertise?  You wouldn't last long and so it is with trading.  You have to have an edge, a reason you can beat the stats...  It takes hard work, experience (including losing, we learn best from mistakes rather than successes), deep pockets and resilience.  This is regardless of the time-frame, method, system etc you use.

 

Link to comment
Guest rachelbarnes
On 22/11/2018 at 18:03, Mercury said:

As with pretty much everything the answer is "it depends".  If your mentality is to need to constantly watch every move at 1 or 5 minute charts (even ticks) and never to hold over night and certainly not over the weekend then Day trading is for you.  Such people need to find a system that works for intra-day moves.  I tried it when I first started and realised it wasn't for me so researched the topic and found many examples of where people have sworn off day trading in favour of long term/swing trading.  I prefer this because I feel I cannot hope to compete with the high speed computer trading and I don't want to be glued to the screens all day (cannot be anyway as I have other things that occupy my time).  So I developed a method, from multiple existing sources, to allow me to analyse in detail at various time-frames looking for trends and more particularly swing points with a higher than 50/50 probability of success and low capital risk if wrong.  This suits my risk appetite, analytical strengths/personality, and keeps me from over trading (a killer!).

However you will find people on the Forum who think and operate exactly opposite to what I have just outlined and that may well be working for them.  So it is horses for courses I think.  The only observation I would make is that novice traders tend to start with day trading because they don't know what else to do.  They don't have a methodology (system) they have researched, tested and developed to suit their own personality, strengths, weaknesses etc and don't actually understand fully what all the technical indicators and so on really do.  Therefore they watch every move to try and manage risk by getting out if the market twitches against them.  They have not mastered their own psychology, indeed probably have not even thought about it.  They have not worked on demo for months, maybe even years before jumping right in.  No wonder so many retail traders lose, it is because they do not approach it like a business.  Would you just set up a business with no experience, training, expertise?  You wouldn't last long and so it is with trading.  You have to have an edge, a reason you can beat the stats...  It takes hard work, experience (including losing, we learn best from mistakes rather than successes), deep pockets and resilience.  This is regardless of the time-frame, method, system etc you use. 

 

thaankyou!

Link to comment
4 hours ago, Mercury said:

As with pretty much everything the answer is "it depends".  If your mentality is to need to constantly watch every move at 1 or 5 minute charts (even ticks) and never to hold over night and certainly not over the weekend then Day trading is for you.  Such people need to find a system that works for intra-day moves.  I tried it when I first started and realised it wasn't for me so researched the topic and found many examples of where people have sworn off day trading in favour of long term/swing trading.  I prefer this because I feel I cannot hope to compete with the high speed computer trading and I don't want to be glued to the screens all day (cannot be anyway as I have other things that occupy my time).  So I developed a method, from multiple existing sources, to allow me to analyse in detail at various time-frames looking for trends and more particularly swing points with a higher than 50/50 probability of success and low capital risk if wrong.  This suits my risk appetite, analytical strengths/personality, and keeps me from over trading (a killer!).

However you will find people on the Forum who think and operate exactly opposite to what I have just outlined and that may well be working for them.  So it is horses for courses I think.  The only observation I would make is that novice traders tend to start with day trading because they don't know what else to do.  They don't have a methodology (system) they have researched, tested and developed to suit their own personality, strengths, weaknesses etc and don't actually understand fully what all the technical indicators and so on really do.  Therefore they watch every move to try and manage risk by getting out if the market twitches against them.  They have not mastered their own psychology, indeed probably have not even thought about it.  They have not worked on demo for months, maybe even years before jumping right in.  No wonder so many retail traders lose, it is because they do not approach it like a business.  Would you just set up a business with no experience, training, expertise?  You wouldn't last long and so it is with trading.  You have to have an edge, a reason you can beat the stats...  It takes hard work, experience (including losing, we learn best from mistakes rather than successes), deep pockets and resilience.  This is regardless of the time-frame, method, system etc you use.

 

Doesn't seem to show up when I quote the post, very strange.

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      21,262
    • Total Posts
      90,871
    • Total Members
      41,377
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    FaridKazemiDemo
    Joined 06/02/23 04:08
  • Posts

    • Elliott Wave Analysis TradingLounge Daily Chart, 6 February 23, AAVE /U.S.dollar(AAVEUSD) AAVEUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Motive Structure: Impulse Position: Wave ((2)) Direction Next higher Degrees: Wave III of Motive Wave Cancel invalid Level: 50.173 AAVE /U.S.dollar(AAVEUSD)Trading Strategy: AAVE token has recovered well from the 50.40 level and managed to cross the MA200 line, indicating that an uptrend is forming. The Elliottwave structure is in a correction of wave (2) as a short-term decline before the price rises. again AAVE /U.S.dollar(AAVEUSD) Technical Indicators: The price is above the MA200 indicating an uptrend. The wave oscillators above Zero-Line momentum are bullish TradingLounge Analyst: Kittiampon Somboonsod Source : Tradinglounge.com get trial here! Elliott Wave Analysis TradingLounge 4H Chart, 6 February 23, AAVE /U.S.dollar(AAVEUSD) AAVEUSD Elliott Wave Technical Analysis Function: Counter trend Mode: Motive Structure: Impulse Position: Wave ((2)) Direction Next higher Degrees: Wave III of Motive Wave Cancel invalid Level: 50.173 AAVE /U.S.dollar(AAVEUSD) Trading Strategy: AAVE token has recovered well from the 50.40 level and managed to cross the MA200 line, indicating that an uptrend is forming. The Elliottwave structure is in a correction of wave (2) as a short-term decline before the price rises. again. AAVE /U.S.dollar(AAVEUSD)Technical Indicators: The price is above the MA200, indicating an uptrend. The wave oscillators below Zero-Line Bearish momentum.
    • SP500 | NASDAQ | Russell 2000 | Dow Jones: Elliott Wave Technical Analysis Content: SP500 - NASDAQ 100 - RUSSELL 2000 - DOW JONES Summary Bullish Impulse wave structure moving higher Elliott Wave (iv) of iii) of 3 of (3) of 1) Strategies Holding long Video Chapters 00:00 S&P500  11:33 NASDAQ 100 (NDX) 12:26 Russell 2000 (RUT) 13:23 Dow Jones (DJI) 19:16 TRIAL Buy 1 Month Get 3 Months Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com  
    • Q: How can I experience the Fairy Cat metaverse? A: Debuting in January 2023, Fairy Cat is one of the most popular crypto metaverse games. While earlier games (World of Warcraft, League of Legends, Destiny 2) either precede blockchain technology or have not integrated it into their games at all, more recent metaverse iterations - such as FairyCat - integrate metaverse games and blockchain platforms. These so-called "crypto metaverse" games use blockchain technology to achieve encrypted in-game cash, play-to-earn (P2E) and non-fungible tokens (NFT), decentralization and other functionality to bring extraordinary benefits to metaverse games. relevant impact. You don't need to be a crypto expert to play this innovative game, although a little crypto knowledge is helpful to take advantage of all the functionality of FairyCat. Start exploring Fairy Cat: 1. Go to the Fairy Cat website to learn more about the game's currency models, then download the Metamask wallet. 2. Start earning money by opening the game in the Metamask wallet browser. At this point, the game will connect to your wallet account. Don't worry that this game will steal your wallet balance, because it doesn't need your account authorization data, it just needs your wallet data. 3. Once you are in Fairy Cat, you can go through a money transfer tutorial to learn the basic controls. Then you can earn money in the following three methods: Method 1: Adopt a cat to help you find treasures, and you can make profit after selling the treasures. Method 2: Synthesize an LV1 elf cat through 5 elves, and then sell the LV1 elf cat to earn money. This can be understood simply as using 5U to earn 10U (50% probability), and you can buy items to increase the synthesis rate. Method 3: Invite your friends to play the game. After your friends earn money, you can also get commission income. The income is very high.
×
×
  • Create New...