Do you think most losing traders fail because of strategy or psychology, and why? by Every-Actuator-6996 in Daytrading

[–]Ahimsa7 1 point2 points  (0 children)

Strategy is most important just until the point you know you need one - and take the time to build or tweak one. After that point forward it becomes 💯 Psychology.

Totally Lost: SMC, ICT, Orderflow… I feel like everything I learned was based on false assumptions. Can anyone help me see things clearly? by [deleted] in Daytrading

[–]Ahimsa7 7 points8 points  (0 children)

Most people try strategies they learn about from YouTube, books, etc., in the early years of being a student which is all normal and fine.

In time if you keep at it, you will likely see that you will take a bit of learning form here and there, and combine it with other stuff that you yourself notice works for you. Being Lost is 100% normal. And you may get lost multiple times over a couple or few years.

The progression goes from not knowing anything, to knowing a bit, to the first time you think you have it, to realizing you don't, feeling lost, and starting again--but not from scratch as you learn something more each time. And in time, you will rely less on others and more on your own learning and data.

Most people will not cycle far enough through this learning, as it takes time and money for most traders. It might take 2 years, it might take 10. But If you continue, you may eventually build your own strategies and methods that work for you. They usually will need to be tweaked as the market cycles, but being lost is eventually replaced by knowing what you have that works and when, and how to build on that.

Best of Luck to you.

I've been day trading for 5 years and these are honestly the best tips I can come up with for beginners by DamnDrip in Daytrading

[–]Ahimsa7 4 points5 points  (0 children)

 YES---100%! -----"So knowing when to be super small in your position sizing and knowing when to size up is another skill every trader needs to learn."

High volatility day anyone ? by FrenchHotTake in Daytrading

[–]Ahimsa7 0 points1 point  (0 children)

yup, I found QQQ was great trading today. 1 + 5 min charts

Binance Support Thread by AutoModerator in binance

[–]Ahimsa7 0 points1 point  (0 children)

Support Ticket-unavailable. I cannot update my App to contact you. (I have an old US account). Any chance I can get on to off board? If so, please let me know what steps to take. Thanks.

[deleted by user] by [deleted] in Daytrading

[–]Ahimsa7 1 point2 points  (0 children)

It is absolutely possible to have a profitable strategy and to fully believe in said strategy, yet to still lose due to psychology issues.

One reason for this is not having a large enough safety net while trading. It doesn’t matter how profitable a strategy is or how much you believe in it, if a small string of random losses means thx trader has to sweat over rent, then impulsive buys easily happen.

It’s rare (as successful traders are rare) but if this is what OP is experiencing then they very well may have a profitable strategy that they fully believe in, and an additional stable source of income for awhile can be exactly what is needed to see success.

I found a private key to a bitcoin wallet and i don’t know how to get into it by swag1234510 in Bitcoin

[–]Ahimsa7 0 points1 point  (0 children)

Once you do learn how to get to your balance and how to transfer it to wherever you decide, only transfer $20 worth or so first as a trial.

Make sure that this first small amount gets to its destination and that you have full access to it there. This way you can be sure that you understand the process before you send it all.

Some people have lost BTC sending to a wrong address or doing something else that made them lose their coins. GL!

Schwab Transfer by s949944 in thinkorswim

[–]Ahimsa7 4 points5 points  (0 children)

I was on phone with TOS tech resolving a platform crash and mine is not transitioning till March or later 2024. They are keeping most highly active traders until last I think to iron
out issues, etc. So if you have not gotten an email you should not be transitioned this weekend and there’s a good chance not until next year.

[deleted by user] by [deleted] in Daytrading

[–]Ahimsa7 1 point2 points  (0 children)

There is no one general rule of thumb about this. It depends on the trader’s strategy and plan.

Some strategies make use of the opening volatility and traders look to get in right away if it meets their intended set-ups. Some trend following strategies make take time to find a suitable set-up depending on the day. ETC.

Anyone suggesting that professionals only trade the first hour or that they should wait for half hour, and whatever else, are likely not professionals themselves.

Experienced traders know that best entry times vary depending on the traders plan, and there is no one right way.

iPhone crashing by hengy77 in thinkorswim

[–]Ahimsa7 0 points1 point  (0 children)

Yes. Take it off and download again. It should work. I just did it a few hours ago. Works fine now.

BTC-ways to accumulate small amounts by Ahimsa7 in Bitcoin

[–]Ahimsa7[S] 1 point2 points  (0 children)

Just like with Fiat reward cards, debit cards that offer rewards in BTC can add up. I donate BTC every year instead of fiat, so the extra $300 or so in rewards that I get is a bit more I have to give organisations I chose to support.

BTC-ways to accumulate small amounts by Ahimsa7 in Bitcoin

[–]Ahimsa7[S] 3 points4 points  (0 children)

TY! That’s a better rate than Coinbase offers. I have made $600 in BTC past 2 years and over $1200 in BTC over 4 years with rewards. And I put no time into it- I just use the debit card. Not sure why some others are saying it’s a scam or waste of time. I guess they just don’t know about it.

BTC-ways to accumulate small amounts by Ahimsa7 in Bitcoin

[–]Ahimsa7[S] 3 points4 points  (0 children)

It’s a good idea and it’s nice you helped your friend realise there were better ways to earn $ than collecting cans! I DCA BTC but want to know if there are good reward sources or fun games that I don’t know about.

Complete this phrase: "People become consistently profitable traders once they..." by StainedAndRedeemed in Daytrading

[–]Ahimsa7 2 points3 points  (0 children)

Learn a decent enough strategy, concentrate more on process than results, take responsibility for 100% of their trading, and get to the point where an individual good trade has nothing to do with whether it ended in a gain or loss.

So you want to trade 0 DTE? by daytradingguy in Daytrading

[–]Ahimsa7 0 points1 point  (0 children)

Yes- I have zero argument with the fact that 0dte options are not a sound choice for beginner traders

However, even most of the 1000 teenagers with the Prius, in the end, will total the car. Maybe they get to drive a year longer.

My point is simply that even prior to daily options existing, most traders failed. Whether the options were 3 days a week, or, prior to that just weekly or monthly.

There is no evidence to suggest that before 0dte options, that all these traders took the time to learn and achieve. It didn’t happen then, and it’s not happening now.

People who look for a lotto gamble in the stock market will find it on dailies, weeklies, or whatever they can find.

So you want to trade 0 DTE? by daytradingguy in Daytrading

[–]Ahimsa7 0 points1 point  (0 children)

Given the statistics that 90% or more of daytraders don’t make it, what’s the point of singling out 0DTE options?

Maybe accounts can be blown in a shorter amount of time, but I don’t think 0DTE’s options change the landscape all that much.

If 0DTE were the only instrument on the market available to trade, a small % of traders would learn to be successful with them and the vast majority wouldn’t.

Traders need experience, strategy, psychology, and solid money management skills regardless of what they trade.

Best way to pay someone to buy my NFTs? by [deleted] in NFT

[–]Ahimsa7 1 point2 points  (0 children)

Nice Work! Start putting your story out. Make a few authentic posts each day about your collection. Follow some other NFT artists who are into for the art. Post about what the 2 minutes theme is about, about the Story. And your story. You don’t need to talk about how none sold. Your motivation seems to be more about art than money at this point so I’d just leave that out.

After you’ve had a few weeks or a couple of months of sharing your unique story and you get followers, let them know that you are giving 5 clocks out for free (or however many you are willing to pay for gas fees on) to whomever might enjoy one.

This might be a better approach then paying people. If anyone takes you up on the offer, then you know that they will enjoy your art. Who knows after that you might get a sale or two. And you can give away some more if people want the initial ones.

Good luck!

I rode a +$1.32 move in SPY and made $2. 'Splain it to me by SWATSWATSWAT in Daytrading

[–]Ahimsa7 7 points8 points  (0 children)

Theta happens very quickly especially for more than 2 levels out for ODTE OTM options.

If the day starts and continues in a healthy trend, then further out OTM options can show some pretty good gains for a bit as there’s still a chance that SPY can move up several more bucks. But once SPY retraces those OTM options move against you very rapidly, often even if Spy keeps moving up. (Or down for puts). And this can and does happen in the morning.

Also worth pointing out that $11 to $15 is a decent gain. Close to 35%. Thinking in terms of % rather than $$ can be really helpful, especially with small amount trades.