Hi KK100 The advantage is massive - and as simply as this. Brisbane 6.18pm, 1 hour after London open Gold spiked down for a run of stops. If we can see inside a candle, we break the hearts of our brokers

The brutal truth of day trading

But getting 5% a month is a slow game which takes be 6 hours a day for 20 days to achieve my trading goal. CHIP AWAY WITH SMALL PROFITS IF THE TRADES WRONG - GET THE HELL OUT QUICK Tonight I started at 6.30PM which is about 1.5 hours after London ...

The brutal truth of day trading

Hi ryuryu Who wouldn't be impressed with those returns - how can I join But in all seriousness, the small retail trader can out perform those forex returns because we have total freedom to trade without restrains. I often get asked many ...

The brutal truth of day trading

Hi Ihlas I get your idea of how you trade levels and it looks smart. Here we differ in our trading stragegy's. I don't focus on levels, or care where price is going as long as I see an imbalance of either Asks or Bids - I look for a short term ...

The brutal truth of day trading

Hi Ihlas Big players are in a battle with breakout traders who are just smaller bankers and retail traders. Their combined aggressive market orders will destroy the major players plans as the liquidity they provide to the market destroys the balance ...

The brutal truth of day trading

God damn it - thanks for reminding me only to reply to real traders.

The brutal truth of day trading

Hi Peter You have it just a bit wrong. Data junky's as you described it - it see it first. We see price move seconds after its occurred and like a train, once it moves it takes a while to stop. We are now in the money - Meanwhile Peter is down the ...

The brutal truth of day trading

Hi Ihlas Liquidity is just a collection of bids and asks that seek to be balanced. The problem is once balanced, the market will only drift without any real purpose or direction. To achieve a trend, we need to see either bids or asks increase by ...

The brutal truth of day trading

I am not laughing now Peter, thanks for posting a chart. Could you please explain your thinking otherwise it’s a wasted chart Cheers Rickyboy

The brutal truth of day trading

Hi Bilal Here was that AUDUSD trade tonight, nothing special. I attempt to trade when the Bids & Asks flip - about 30+ trades a session if the market allows it. This trade would be worth about 0.06% rise in equity with my current daily goal set at ...

The brutal truth of day trading

Hi Bilal I am looking far more closely that candle patterns. I am looking at market executions in real time looking to see whether the big players are consuming buy limit orders forcing the market bearish, or consuming Sell limit orders forcing the ...

The brutal truth of day trading

Peter I am trying to take you seriously but really? You use a stochastic oscillator to trade the markets, and we are supposed to believe you are an experienced trader with financial industry training. Demo trader retiree who dreams of receiving ...

The brutal truth of day trading

Its not important What is important? The last candle and what happens on the next candle. We are day trading, not value investing.

The brutal truth of day trading

The brutal truth about day trading is you have to be incredibly aggressive and have total faith in your abilities to read market data without outside influences. The current close of the last candle and the action of the last five previous candles ...

The brutal truth of day trading

Hi Tim I’ll talk about something in a PM, but the question needs to be answered. Why does the major players, financial institutions discredit the correlation between Futures FX and Spot FX when it’s almost exact. How come I am highly profitable if ...

The brutal truth of day trading

Yes The issue is those tests undertaken in Tim's PDF's were on GBPUSD - bad choice for a test

The brutal truth of day trading

Hi TraderTim Well that work was probably a waste of time, GBPUSD is the wrong pair to test the correlation of Spot FX to Futures FX. There isn't enough volume on Futures GBPUSD on 50% of ocassions to be able to trade it with total confident on spot ...

The brutal truth of day trading

Hi HTG I really admire traders who can kept a position opened for long periods in profit while sitting on their Hands and doing absolutely nothing. A long time for me is a session, but normally a few minutes. The interesting discussion here could be ...

EURUSD

People couldn’t find there way out of a paper bag even if they have instructions so NO. Most traders lack discipline and would fail.

EURUSD

Hi George Hopefully you could share more of your wisdom here, it has been very much missed. Great to have you back in the trenches. Cheers Rick

Price action at the core = family members' discussion project