Hi riclater The beauty of day trading is at the end of the trading day, you are flat. No open positions that big players can attempt to hunt down your stop loss while you sleep. The line that rich people make money while you sleep doesn’t run true ...

The brutal truth of day trading

Hi joyny Yes it’s a tool but used by average traders to disguise bad entry’s. You can include me in that group as well as I am guilty in a handful trades a week of averaging down as well (I average 200 trades a week). Any one can be a average trader ...

The brutal truth of day trading

It started in December when I had two bad trading days. My wife suggested a gold coin fee into the coin jar to help remind me to follow my trading plan. Four months later I was still taking a few averaging down trades when I should have cut the ...

The brutal truth of day trading

Hi Buddy You nailed it yet again. Don’t forget to drop into the Cave.

The brutal truth of day trading

BUT These two simple rules would make many traders profitable very quickly. The first one I still break to this very day. I had to install a money jar in my trading den and it still doesn’t work. Every time I average down, I place a $10 note in the ...

The brutal truth of day trading

Hi Shadowy I was just referencing that EURUSD move. As it was in a bearish trend at that point, the data was strongly in favour of Bids. That means Buyers were placing higher levels of orders that were being executed by aggressive Sellers. So more ...

vsa with Malcolm

Hi Ric You made some great points in your post, but one in particular I feel is the reason most traders fail. Truth is they never specialize in anything so are very average in everything. If you are average, its going to be very hard to make ...

The brutal truth of day trading

I wouldn't touch a WRB bar, go down to M30 or M1 (where you need to be) and study volume there. Small volume with big bars is the direction to trade. Here was a chart I posted yesterday so I apologise to anyone who has seen this one. It was EURUSD ...

vsa with Malcolm

Hi BWilliam Perhaps the volume data shows the big player trading their stragey's. Price falls because volume collapses on the order flow books - if it continues to fall its because the players decide to make money. The Algo is there only to fill ...

Is it possible to reinvent the wheel?

We need increasing volume to enable expansion of price. I am watch the data and its disgusting low - under 1/3rd normal levels.

EURUSD only

Volume is about 1/3 so low volume grinds without structure is the danger tonight.

EURUSD

There was a nice long setup at 1.1870 if you like one minute trades. About my 9th trade so far this London session - grinding away but its hard work

EURUSD

More like Patience Aggression - when there's a trade, don't second guess it

EURUSD

Hi jmn5611 I trade live with ryuryu most nights, I can vouch he knows what he's doing. Also don't ask him about Friday's trading results or he may get a even bigger head Cheers Rick

Is it possible to reinvent the wheel?

The volume spikes around the Red news on Friday does not suggest we are looking at a market reversal yet, so I agree its still a short until it breaks out of that last higher low. The bearish move two weeks back contain 50% more volume in that ...

EURUSD only

While you will talk about pizza’s and lines from A to B, you are attempting to find profitability out of complication. Trading A to B is good enough without observing the entire situation. Clear your mind of all this crap and just focus on the chart. ...

Objective Thinking And Trading

I would say a better definition of an experienced trader is one who is a survivor. They have been through years of making good profits and also survived years of small returns. They survived and are still in the game. Thats impressive.

The brutal truth of day trading

Hi Exodus I have had the great pleasure of trading alongside few great traders here that are members of Forex Factory. One of them is a Russian trader who has helped me expand by horizons on how I could trade liquidity imbalances. He has placed ...

The brutal truth of day trading

I never got your thought process on this. If you get it wrong because price can pull back 5 pips at anytime, you would be in serious draw down. I do agree we shouldn't apply standard money making strategy's to the market as the results end up ...

The brutal truth of day trading

I think you are being very disrespectful to all other profitable traders with those comments. While I may sit and only trade the 1 minute chart mostly (any time frame or tick frame that allows me to see liquidity imbalances), I don't ever think I ...

The brutal truth of day trading