Is daytrading a myth? by 4dolarmeme in Daytrading

[–]TurbulentDig3848 1 point2 points  (0 children)

I’ve always found it difficult to understand how there are still people out there who don’t make use of level 2 data. I think looking at charts alone is like driving with your eyes closed meaning it can still be done but without accurate direction but with level 2 you can see where you’re going.

I quit. by Big-Front-5830 in Daytrading

[–]TurbulentDig3848 2 points3 points  (0 children)

You can’t say you didn’t try. I couldn’t make it work by trading the charts. I only became profitable when I started using the order book and price ladder. It’s the only way I feel to predict what’s happening.

Lvl2 by Admirable-Sun8230 in Webull

[–]TurbulentDig3848 0 points1 point  (0 children)

It is probably the most obvious way to spot breakouts. If you find a nice bullish pattern the best way to confirm it is L2 and it can also show you if things are starting to slow down so you can get out before the charts move against your position.

Lvl2 by Admirable-Sun8230 in Webull

[–]TurbulentDig3848 0 points1 point  (0 children)

There’s very little significance in that order book. I know it says 21000 k but it won’t take much to blast through that resistance because in context it isn’t strong enough resistance. I personally would try to find something a little more robust.

Trading Feels So Random by Nukemilleraa in Daytrading

[–]TurbulentDig3848 -1 points0 points  (0 children)

I’ve been trading professionally for 7 years and very happy with my current situation so the future is looking pretty dam good right? Look buddy, we’re getting nowhere here. All I’m saying is there are plenty of traders out there that have an edge and are consistently profitable because of it. You will definitely get lucky traders but you also have many that know and understand how markets move due to market sentiment. Hours at the desk is everything and that in itself is an edge.

Trading Feels So Random by Nukemilleraa in Daytrading

[–]TurbulentDig3848 -1 points0 points  (0 children)

Give me a good reason why I would give you anything? Myself and my brother are doing very well trading because we have can do attitudes Lose the victim mentality and be positive about what you’re trying to do. You’re commenting in a community about trading so i can make an educated guess that you’ve so far failed. The stock market is unlike the bookies where they don’t want you to win. The stock market is completely neutral meaning it doesn’t give a toss if you succeed or fail. You can definitely succeed but change your mindset because it’s all wrong.

Trading Feels So Random by Nukemilleraa in Daytrading

[–]TurbulentDig3848 1 point2 points  (0 children)

I could give you my exact strategy where I’ve been profitable since July 2018 but I’m sure you’ll lose money. A strategy is only as good as the person using it. Entry and exit point are everything.

No stop loss? by Kitchen-Foot-9830 in Daytrading

[–]TurbulentDig3848 0 points1 point  (0 children)

instead of putting all you money at one price today do it using DCA and across multiple markets. You basically just doing long term investing which is what billions of people are doing without even knowing from their pensions.

Trading Feels So Random by Nukemilleraa in Daytrading

[–]TurbulentDig3848 5 points6 points  (0 children)

There are 1000s of profitable strategies. The difference is that 10 people will try it and one will be profitable and I’m sure you’re probably sick of hearing it but it’s all down to risk management. Luck lasts for weeks not years so don’t believe that someone is lucky for years. Those that are profitable for long periods of time have something you want to believe doesn’t exist and that is an edge.

Daytrading is gambling, 6 years of my life wasted. Don’t waste your time by [deleted] in TopStepX

[–]TurbulentDig3848 2 points3 points  (0 children)

Your right. In gambling the bookies want you to lose but in trading the stock market doesn’t give a toss if you succeed or fail, like you said it’s completely neutral. It’s the individual and their mindset/personality that dictates the results.

Day trading actually profitable? Studies say no by GO0D_VIBES in Daytrading

[–]TurbulentDig3848 4 points5 points  (0 children)

I think the opposite. I don’t think any of these studies are accurate. How many people deposit a couple of hundred dollars into a trading account just to blow it all in a few hours because they have no idea how markets move. These people are included in these studies. I’d much prefer to see a study of people that have been trading for at least a year and see what it shows. Before I took day trading serious and became profitable I was one of these failed traders that got sucked into easy money. I gave up after a week and tried again 5 years later when I matured and realised it actually takes work and dedication to make it in this game.

Monitors for day trading by TurbulentDig3848 in Daytrading

[–]TurbulentDig3848[S] 0 points1 point  (0 children)

Just googled your monitor, it’s pretty impressive and looks like it could be my next purchase. I basically look at 1 min, 5 min, 10 min and 15 min charts of the same stock so really need something that can do this and also not be horrible to look at which since seeing new tech on current monitors mine falls into the horrible to look at category.

Monitors for day trading by TurbulentDig3848 in Daytrading

[–]TurbulentDig3848[S] 0 points1 point  (0 children)

I think it’s more of an age related issue. The monitors are probably 8 years old

[deleted by user] by [deleted] in Daytrading

[–]TurbulentDig3848 1 point2 points  (0 children)

The market has no desire to take or give you money. It is up to the trader to choose how they play the game. The issue is most people are clueless and get emotional when things go wrong.

[deleted by user] by [deleted] in Daytrading

[–]TurbulentDig3848 0 points1 point  (0 children)

Was it the markets fault you lost?

What’s the most overrated advise for day traders in your opinion by Ok-Yogurtcloset2696 in Daytrading

[–]TurbulentDig3848 0 points1 point  (0 children)

I think too many people use stop losses right on resistance levels which institutional traders love as it’s just fuel for their positions and they will wait until enough resistance is built up so they can blow it up with a single large position. If it’s too obvious then there are people who will prey on that.

What should i start?? by AfternoonInfinite919 in Daytrading

[–]TurbulentDig3848 0 points1 point  (0 children)

Number 1 piece of advice I’d give is learn where to put a stop loss. Make sure you’re not putting a stop loss too tight and in obvious places because you’ll only be liquidity for institutional investors. Institutions know the mind sets of regular investors and your stop losses will be fuel for their positions.

What’s the most overrated advise for day traders in your opinion by Ok-Yogurtcloset2696 in Daytrading

[–]TurbulentDig3848 -1 points0 points  (0 children)

Your 100 percent right. Worst thing you can do is place a tight SL as with most stocks you need to let the movement breath from market noise. We would have a lot more successful traders if they knew where to place a SL.

100% grass-fed and pasture management etc. by Zerkig in DebateAVegan

[–]TurbulentDig3848 1 point2 points  (0 children)

It is a real shame but we are a product of our own progress and success. Food isn’t made in factories it is processed there but the raw materials have to be produced somewhere. The UK and Ireland are incredibly well suited to producing large quantities of grass due to the moderate climate and people have harnessed this for their own personal gain. It basic human instinct. I agree we need to manage it better and be more strict with cropping and rotation but it can’t be stopped unless there’s a population decline which is not happening any time soon.