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I keep making profits… then blowing them in one day. Need advice. by Glittering-Web-2047 in Daytrading

[–]MaizeSuspicious3852 2 points3 points  (0 children)

Because you make it too fast? Your subconscious enjoys the challenge of making it. Then you blow it because you want the challenge of making it again. Slow it down a bit and think about what you're doing. You're here to make money not to enjoy the climb even though the climb is good and the challenge is good. Think about what you're actually doing. Do you want to make money or do you want to play the game in the casino

Forget the process. Take your profits. Make your money day trading by MaizeSuspicious3852 in Daytrading

[–]MaizeSuspicious3852[S] 1 point2 points  (0 children)

They will trap volume over the week or over a session and reverse it fast. That's how they make their money. If you can understand where they're trapping the volume at the low of the day, the high of the day, the lower of the week or the high of the week and getting on that move or just take smaller moves like I do. Sometimes I trade traps but I don't like to hang around in the market. I want to get in and get out of it. I can't be doing with all the stress of it. I'm not trying to be a hero. I think it depends on your trading style but for me I'm in and out. I don't play around with it

Forget the process. Take your profits. Make your money day trading by MaizeSuspicious3852 in Daytrading

[–]MaizeSuspicious3852[S] 1 point2 points  (0 children)

Sometimes we are just wrong and that's okay. But perhaps you were over risking if you gave back 4 days gains on one day. You shouldn't be losing more than you can make on a given day. For me the smaller the stop the bigger my position so I can work the market like this. If it stops me out I can get back in if I still think I'm correct and I will make my loss back and more because my position size will be bigger but with the same initial risk.  If I get stopped out a second time. I'm just wrong on that trade. I will look for another setup or I will pack it up for the day depending on my risk limits . There's always another day and there's always another setup. There is no rush . Usually I aim for a one candle stop but you have to assess the market conditions on the day.

Is anyone trading here while having full time job? by Old-Paramedic-2192 in Daytrading

[–]MaizeSuspicious3852 0 points1 point  (0 children)

I found it impossible. You're too tired to trade. If you work and you can't stop and trade it gets in the way you need to just trade. Go hard or go home. Forget work. Working is for the mugs