How do I ACTUALLY learn how to daytrade? Is there some guide that teaches me signs to watch out for in the market? I'm so fucking tired of consistently losing money because of a single bad call
How do I ACTUALLY learn how to daytrade? Is there some guide that teaches me signs to watch out for in the market...
Levi Perez
Other urls found in this thread:
en.wikipedia.org
en.wikipedia.org
twitter.com
Jordan Davis
buy low sell high
Angel Robinson
Daytraders lose, dummy.
Jaxon Garcia
I did that and got wiped out but a single whale undoing the market trend in under a minute. I need to know what signs to watch out for so I get out when its time to get out
Asher Ortiz
I don't want to wait years and years for a slight chance at 2x'ing my investment, whilst still also having the chance of halving it
Isaac Wilson
>Learn a indicator
>Backtest indicator
>Is indicator profitable over time?
>If yes proceed, if no look at another indictator/ try strategy on different time frames
>Have clear risk management with defined levels where you will take profit and cut losses, ideally you want a strategy that has at least a 50% hit rate of a risk reward ratio of 2.
Trading as a profession is about crafting a strategy and sticking too it, never risk so more than 1-2% of your trading funds on a single trade, because statistically speaking loss streaks of 5-8+ CAN happen so if you are risking 10% of your account on a single trade and you go on a loss streak you are likely to very quickly blow up your account.
There is a perverse incentive for new traders with small accounts to lever up past 5x leverage because otherwise they won't 'make enough money' on a trade. It is important to ignore this logical fallacy and realize that more so than making a large nominal profit the key to success is consistent performance over time without destroying your account.
Trading is 50% psychology, 30% experience and 20% technical knowledge
Disclaimer I do not daytrade at all, I am 100% all in LINK since I would rather a sure thing 10000x then gambling on some chink exchange.
Thomas Ramirez
>I am 100% all in LINK since I would rather a sure thing 10000x then gambling
Not gonna mean shit if you have a million dollars at 60 years old, though
Bentley Green
Just click the sell button when you're profitable, stop holding for more gains. Day trading and trend riding are completely different. Just click sell. That's it. Sell when the price goes up. Buy when the price goes down.
Look at a graph and find the price range. Sell when the price tests the 24, 50 and 200 day MA.
James Walker
Risk management is key.
Learn several indicators, which indicate different things, and learn them really well.
Backtest as this user pointed out.
Nolan Ortiz
Age extension is just on the horizon pal. Better to get rich for sure and then be able to eat the best quality food and extend your lifespan articially by hundreds of years than to gamble and get rekt so you can get rich quick.
John Campbell
Companies with billions of dollars of equipment and insider knowledge and teams of 180 IQ autists can hardly trade enough to beat the market yet retard individuals still insist on “day trading” and thinking they will come out ahead Pro tip: you will underperform the market 99% of the time and will take big loses more often than not when all you have to do is buy and hold profitable dividend paying companies to make a solid and safe 12% a year
T. Rich Jew with generational wealth from slow and steady stock market investing
Justin Parker
Stop lying. You are not jewish and everything you said was bullshit.
Camden Walker
use gains dot trade, then go to practice :) easy
Wyatt Jenkins
You could try reading all the books you can on daytrading and keeping what makes sense and you agree with and tossing the chaff. There are a bunch of pdfs on the topic easily found online.
Elijah Reed
>Companies with billions of dollars of equipment and insider knowledge and teams of 180 IQ autists can hardly trade enough to beat the market
That's because they literally have so much money that substantial buys and sells would sway the market extensively and fuck them over
Luke Gutierrez
This, except it's more like 3% and finding reliable companies is not trivial
Brandon Moore
Since you daytrade, you are effectively a gambler, so read this:
en.wikipedia.org
Then apply Kelly Criterion to your gambling trades:
en.wikipedia.org
Owen Foster
>Companies with billions of dollars of equipment and insider knowledge and teams of 180 IQ autists can hardly trade enough to beat the market
Just not true, see Virtu's PnL distribution per trading day.
t. hedge fund Quant
Sebastian Myers
What is she doing to him?
Josiah Robinson
The needful, sir
Hudson Phillips
What does the money-scale represent.
Robert Barnes
I’ve heard swing trading weekly is far more successful if you’re patient.
Chase Stewart
Heard the opposite