And review 1 HERE! Before I start, I just want to give a huge thank you to everyone for all their support. I was having a real difficult time what with my wisdom teeth being removed.
Hopefully this article gives you some insight into why day trading is typically a highway to disaster for most traders. Top down approach As a trading educator, it makes me HATE day-trading even more when I think about all the trading websites out there promoting it and how a lot of them are geared towards beginner traders, not to mention how heavily day-trading and scalping are discussed in almost every public trading discussion forum on the internet.
Day-trading is something that should only be attempted by a very experienced trader, and probably should just not be attempted at all. You need to think of trading like building a house; first you need a foundation to build the house on, then as the house progresses you get down to finer and finer details until finally you are discussing how to decorate the interior and what type of TV to buy.
As a trader, you NEED to understand how the higher time frame charts work and higher time frame price dynamics before you attempt trading the lower time frames.
Trading should ALWAYS be taught and learned in a top-down technical approach, so that you understand what the higher time frames are doing before you try lower time frame trading or day-trading. Brokers who have wider spreads make more money off you every time you trade, so they want you to trade.
The point is this; be sure you choose your broker wisely. Again…it comes back to preserving your own capital…when you trade more frequently you give more money to your broker in spreads or commissions, leaving you with less money to trade with when you get high-probability signals in the market.
Stop-hunters love day-traders Day traders naturally have stop losses closer to the market price since they are typically trading intra-day charts and trying to get quick gains with tight stops. Have you ever noticed how if you try to trade intra-day the market tends to hit your stop and then reverse back in the direction of your initial position?
As some of you know, I only teach and trade on time frames above the 1 hour, and even the 1 hour is not a time frame I personally trade very often. Why waste your time and fry your nerves trying to compete against such players with this type of unfair advantage when there is a much easier and more lucrative way to trade?
I guess if I really had to explain the difference between day-trading and higher time frame swing trading it would be this; work smarter, not harder.
Good trading, Nial Fuller Any questions or feedback?Aug 20, · Game Analysis; Don't underestimate young kids!! chessperson Sep 23, #1 eric Sep 23, #2 I notice that young kids, in general have low ratings because they mostly participate in kids' tournaments or lower-age tournament groups. However, the low ratings do not indicate that they are playing badly.
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