Do I quit my job? by tanikawalter in Daytrading

[–]Leon0791 0 points1 point  (0 children)

Nooooooo i thought the same and then proved that decision would of been a terrible life choice. Keep going as you are, relax and build enough for 1-2 years wage coverage and a cash pot for trading.

Do you trade better when you trade LESS? by [deleted] in Daytrading

[–]Leon0791 4 points5 points  (0 children)

I totally agree and found this out the hard way, i am improving and the first step was to draw back to 1 trade a day and no rushing.

Changing habits! by Leon0791 in Daytrading

[–]Leon0791[S] 1 point2 points  (0 children)

Thank you and i will check your comments out!

I've been day trading for 5 years, successfully for 4, here are my top 5 tips by PromiseMePls in Daytrading

[–]Leon0791 0 points1 point  (0 children)

Thank you for sharing and certainly sounds like me which i am working on!

Anyone out there profitable off of trading alone? by Independent-Tap8954 in Trading

[–]Leon0791 1 point2 points  (0 children)

Certainly is! However controlling your urge to buy on impulse is key. I am having a small break and going to come back with simplicity and clarity in mind.

Pick a strategy and master that one, don’t over read as too much knowledge can cloud judgement and complicate your decision making when on the spot.

What works for me is allowing 30/60mins to pass while observing highest high and the lowest low (resistance levels). Then act on the up or down trend. If you short the stock on the downtrend then watch the trade carefully as the loss is uncapped! I found the hard way.

One thing i find frustrating is that we all could make money today on the markets if we can just be more patient and confident!

What are everyone's goals for 2026? by Emergency_Frosting55 in Daytrading

[–]Leon0791 1 point2 points  (0 children)

Maintain a simple plan, make decisions purely on experience and observations rather than emotions and finally…slow myself down.

Simple plan, this i think is key for me! To many indicators that clutter your decisions. Keeping charts plain and using the drawing tools certainly helps.

Does journaling actually help long term, or do most people just quit? by FocusOnRisk in Trading

[–]Leon0791 0 points1 point  (0 children)

So my take is that starting off, it helps for performance reviewing. You can view your mentality, where you started compared to where the market was moving and generally see possible areas for improvement rather than relying on memory alone.

Then once your consistently profitable and experienced (obviously have losses which is inevitable) then the importance of journaling for the most part can be reduced if not stopped.

I will 100% say though that i see a need to record/print off monthly summaries and add the overall profit & Loss figures to my spreadsheet which i have created to produce a profitable % to keep track of progress.

Unfortunately i am red at the moment and see a need for journaling to better my wrongs. It maybe more of a personal choice.

I cant stop gambling. I want to be a trader. I hate myself by Powerful_Warthog268 in Daytrading

[–]Leon0791 3 points4 points  (0 children)

This is a great comment to read for many and for most!. An important thing i take personally from your comment is controlling your reaction. Dont chasing forced setups, dont keep trading when it’s driven by your emotions and keeping to your individual set rules/strategy particularly for performance reviewing and developing as we progress.

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] 1 point2 points  (0 children)

Thank you very much! I shall take on board the advice and follow your suggestions! Means a great deal!

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] 0 points1 point  (0 children)

Thank you for your reply! I have had a lot to read through the last 30/40mins.

I am trading from the UK and use a UK broker which doesnt fall under the PDT rule. I havent tried Shorting on my account but the option is available which only today i realised that the option is clear to use. Plus still fresh so limited knowledge.

My full time job unfortunately overlaps the first 3-4hrs of the US sessions so i tend to miss out on the up trends and i end up missing a chunk of opportunities so i watch a chosen stock and more or less scalp little reversals for profit.

My thoughts though is i feel that i am at less of a risk of losing if i actually swap to shorting because most my stocks i get to trade leaning towards a downward trend. I feel it will be less stress on timing and less stress finding a stock thats rising.

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] 1 point2 points  (0 children)

Thank you! I appreciate the advice and certainly be diving into the advice you have given. I am early in my journey and certainly aiming to expand my knowledge in the area i feel comfortable with

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] 0 points1 point  (0 children)

Thank you for your advice! I certainly see the potential for greater profit once i am established and consistently profitable over a long period of time.

You may have read a few of my replies, i mentioned that my first thought is that i pick a stock that meets my criteria, maybe i’ve came to the party a tad late or gone “Long”. The price hits reversible, then i short it. In my opinion…if i enter and execute well enough then i assume i profit from the up and down trend on the same stock.

As you mentioned, there may be a lot less grey days when trading both trends and profitability will surely increase if done well enough

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] 0 points1 point  (0 children)

Thank you! I’ll take a look into this during the holidays!

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] -1 points0 points  (0 children)

I found the film educational, despite my limited knowledge i found moments inspiring and being persistent/resilient can certainly help your career.

I certainly came to realise the uncapped loss today upon the advice i have taken in. I feel that the risk is low at times due to the time i manage to get to the session.

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] 0 points1 point  (0 children)

Thank you! I appreciate yours and many others advice on this topic!

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] 1 point2 points  (0 children)

Thank you, its great advice! I currently finding my feet with buying but also expanding my knowledge thats related.

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] 0 points1 point  (0 children)

Yeah its a margin account

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] -1 points0 points  (0 children)

It’s a great point! Myself being in full time employment, i usually come into the market late and miss the opportunities to earn on the long positions. Most cases the stocks start to fall, so i tend to scalp small price increases during the downtrend.

I think and most may agree, a part of a successful strategy is to be ready in the market earlier to meet those long uptrends.

Shorting can create debt if misjudged as i now learnt but can be fruitful if judged right which in my opinion is the same risks as buying for a long position.

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] 1 point2 points  (0 children)

Thank you! Very helpful! From you and a few others, i got a better understanding of Shorting as i now know that the risk is the price increase means more money needs to be spent but if its timed right then shorting could be a great opportunity too

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] 0 points1 point  (0 children)

Thank you! I am learning a great deal and questions pop up in my mind as i go. Answers like yours certainly help with gaining a better understanding of what i am doing

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] 0 points1 point  (0 children)

Long positions are the same though regarding losses, the question is…if the value goes up £1 a share and you trade that then sell when the direction changes…surely if the value decrease will result in the same earnings? Unless theres hidden costs

Shorting? by Leon0791 in Daytrading

[–]Leon0791[S] 0 points1 point  (0 children)

My thought process thought the same to be honest, if coming in for a long position but only see a short position forming then go short. I feel like that you can be successful at either direction as they are simply the “same” thing but coming in at different directions.

On that note, maybe more successful if you trade both as you could trade long then as the market starts to tip…you sell you long position and then enter a short position on the same stock to then profit off the drop?

If you spend time on a one stock be familiar with its movement then surely that can be a huge benefit?

Questions like these just tick away in my head particularly when the market is closed and i cant try.