Topic: ㅤ - page 2. (Read 872 times)

In my personal opinion, although we can get big profits by scalping, yeah it is true that it really spends most of our time, energy, and also thoughts. Likely, I cannot get good quality sleep so far doing scalping. Even going to bed and also waking up, the first thing and the last thing to see is the mobile phone., checking whether the price is up or down. And when being awake only for a few moments when sleeping, the market is always also the first and last thing I am checking. And that is also the unhealthy reason why because I always sleep in the morning and wake up at the day. But of course, ti may be different for each other

Did you make decent money doing this though?  But is scalping still possible nowadays if you have access to many exchanges?

Yes, the first advice for someone wanting to day trade is to reconsider.

To succeed you need to want it a lot, you need to be smart, to learn money management then avoid a lot of pitfalls, find reliable strategies and stick to it without emotion. If you have fun trading, you are not doing it right.

No doubt scalping was one of the good tools in trading, however, this is not good for the newbie or others don't have knowledge about in trading, it is not advisable to apply, in short, its not that easy to do it. Skills is required to this things of course, Even me I most often did to choose spot trading and very seldom to do scalping, due to its not easy to understand that's the truth.

This is one thing people often skip, excellent point made! I mean how much we are earning should not determine whether what we are doing is worth it,
we must also consider how much time we are spending and how much effort we are putting behind it. This is the reason why the rich are getting richer because they are able to find others who will work for them while we are happy with a mediocre salary.

I remember someone once said "Fulfill your dreams or someone will hire you to fulfill their own dreams" and I just realize how accurate it is.

Coming back to scalping, it's good no doubt but you must either use bots or have a team under you who do all the manual work while you can just guide them through it. It's a headache trading all day and earning few dollars after burning your eyes in front of the computer all day. Mind you, I was someone who has done scalping in past and I wasn't even aware of this word and used to call it price-trading until recently.

OP, I'm not a trader so I'm not competing with you for trades--therefore, I wish you luck with whatever strategy you employ.  I had heard of scalping on this forum over the years but never really understood what people were talking about (precisely because I'm not a trader and thus don't pay attention to the details).  Thanks for your very detailed post, I liked reading it.

And this:

You're on the money about that--not only about trading, but almost everything else.  I've seen so many Youtube videos made by males who have to be in their early 20s talking about trading, economics, and various life issues that I can tell they know nothing about because they haven't lived long enough to learn all there is to know about whatever it is they're blabbing on about.  It drives me nuts, because they're the ones usually making bank by churning out such videos.

Good luck in your future trading, OP.

Only two times I tried to operate in Scalping mode and it has been very difficult, because to see the results you have to be a lot of balance to risk it so that when you get good gains, they are too violent movements and the adrenaline reaches the maximum test. Only trade in the medium and long term. With respect to 4 years doing trading and I still do not know very well at least it is sincere op, because for me I consider the trading as a profession, which, I will be a professional when at least handle $ 1m figures, and the truth is that I am very far from that brand, for now I have to continue reading and learning.

It is difficult to say that we can make the same amount in making BTC because the result will vary month by month. After all, the bitcoin price will change every day, giving us a different profit. As long as you can make a profit and always stick to your profit percentage, you still make a profit. The important key is not greed by chasing more profit because that can make you late to profit and lose the chance to sell your bitcoin at a high price.

there are many things that must be considered in scalping, I know we have to create a framework to take a position, after that we wait until the price enters the area, sometimes all day we wait for the price to not pick up too and we have to be disciplined, when the price breaks the framework then we must dare to cut loss. because in fact there is trading that is even more aggressive than scalping, which is usually called a flipper

How much did you make in BTC ? Or what % per year ? What % of month were you in profit ?

4 years is a long journey. If the OP still doesn't understand and has not mastered it, the OP certainly hasn't learned much.
Scalping is indeed a fast trading style that is favored by many traders. Including me, I like scalping techniques because we will benefit from every entry we make. Need to learn technical analysis to be able to read where the price will go, without technical it is certainly not easy to do scalping.
Scalping also requires a lot of capital to get more profits.
Scalping will be very suitable for market conditions that are currently downtrend. Take a bit of an advantage and run away.

I understand your experience for 4 years, but scalping is not only from experience,
what must be observed when scalping is reading the cycle and market situation,
if 4 years of experience still can't read it, of course everything is meaningless.

I agree its all semantics and who you want to believe at the end of the day. For me idc if you are working in a prop firm or from a remote island. What matters to me is what you can pull out from the market on the daily basis. If you can pull out more than 3Rs a day every single day. You are a professional trader in my books but if you are sitting in a prop firm and barely making 1.5Rs - 3Rs, you still aren't there yet. Also never trust the boys working for the banks, they are there to manipulate you out of the game. Keep an eye for my post, i think you will like it As always Good luck and Good trading.

You described a little of my situation, I spend more than 15 hours watching the charts, that's because if I'm not at home in front of the computer then I'm facing the cell if for some reason I'm not at home. It's very stressful because I don't sleep much. but I have nothing to complain about because it's the way I found to earn money and I confess that I like this routine. there are very difficult days because the STOP - LOSS is looking like a horn from being used so much, but there are days that are very good. I use 15 minutes and 1H and 4H and 1D to get a better idea of the price direction, I prefer to trade BTC - USDT and LTC - USDT only

I moved from day traders to holders too by the way, sometimes when missing opportunity to join in a 1 cycle trade activity (buy and sell) which we actually can do that thing is hurt. I mean, at past i have a group to share like what you bought and what price, and me is who keep missing the opportunity because of work and sleep. Sometimes that jealous feel keep happen because why only me who not join the trade (in past there are some coins which get pumped and dumped, and when Poloniex trend to listed a coins it always pumped, etc). But now i only be holders which buy bitcoin and ethereum and then hold it. Maybe earned some from signature campaign and hold it too.

Well a lot of context was lost in google translations. I thought you were placing 5% on each trade. 1.25% is more like it.


Being a "Professional Trader" is more a trait than an occupation. The "Professional Trader" is disciplined, follows strict set of rules. Never over leverages, doesn't relies on retail patterns and is basically the total opposite of the retail trader. This is literally the only difference between the "professional" and the retail trader.


Who told you this? Yes most of them join a trading firm to get hands on extra capital because the larger your account is, the less you can leverage. Ever tried to open a 500K or a mil Pro account on a retail broker? The leverage is nothing like what a Prop firm can offer. These firms provide them with extra liquidity but they are risking what they have. Besides there are literally thousands of "Professional traders" who never set foot in a trading firm cuz they aren't greedy and are satisfied with what they have.


Exactly! as I said above these are the traits and not a position at a fancy firm. What statistics will show you that people who were disciplined about their trading were more successful compared to strategy hoping retail traders.


Well I will let you be the judge of it, Cuz you literally wrote the whole thread about how your friend who was just hodling made similar returns to you.


Doesn't sound smart at all to me, Sounds like retail logic. As I said in my last post, There is nothing random which is happening on the charts which will require "Predisposition". It's all logic and those are able to figure it out, Everything connects for them I'm planning to make a thread of my own on this cuz I have not seen anyone here in the trading discussion board talk about "smart money". Or able to demonstrate they understand how real smart money operates.

Anyways, As I said earlier, I'm not targeting you personally for falling into the retail trap. Retail education is filled with misinformation. I have nothing but good wishes for you. I'm glad you have figured out a strategy which works for you. Not many people are able to survive 4 years in the market. There is a reason why 95% of people lose money in this market and nobody takes the opportunity to investigate it. I wish you nothing but Good luck and Good trading.

Wow, you are taking too much time to trade. if that were to happen to me, my eyes would be very tired and have a headache, thus taking my focus off trading.
Honestly, I also experienced it when I was in the stock market and crypto, but now I have two children so I spend a lot of time playing with them and going on vacations. because time is very precious and cannot be reversed, so I don't want to miss it.

Hold options for a certain period of time are the best in my opinion, each person's profit-taking target is different. and I also sometimes still trade short or swing  to keep sharpening my foresight in seeing market behavior.

See this is the very issue at hand. You are treating the market as some sort of a coin toss. You don't have a sound strategy which makes you think you are betting i.e gambling in the market. No "Professional/Pro" trader treats their trades as gambles. This is the very issue with the retail investing. They don't understand the market and are there only to grab some quick cash from it. There is nothing to "bet" if you truly understand what is really going on.

What any good trader will tell you is that you should never invest more than 3% on any single trade you take. The standard is 1%, 2%-3% if you are aggressive. 5% i.e 1/20 of the deposit just screams inexperience. You said you never used any stop losses which again is a very novice way to go about trading. Even worse when using margin. You have bad trading habits, I'm surprised you didn't end up blowing your account.


Neither did I, but they do teach you the very basics of investing atleast. Like e.g Not risking 5% on every trade. How to use stoplosses effectively. How to prevent 25-30% drawdowns on your account in 1 trade. Basically all the mistakes you are admitting to, you won't have made if you would have taken the free babypips course or anyother matter of fact. Your results could have been much better if you had a trading plan.


I don't quite agree there. If you don't understand how to use the tools in your inventory then you are bound to hurt yourself and unfortunately the market doesn't gives you many chances to recover. It's usually a fatal blow. It's like giving a surgeon license to someone who hasn't studied med their whole life and expect them to get better on their own without any help from actual surgeons.


Again a very retail perception of what "professional trader" means. What I meant by professional traders was people who make a living just for trading themselves. Hedge managers aren't professional traders. I can assure you no hedge fund trades daily. Their positions aren't built on chart patterns. They are in for the fundamentals and not technical analysis.


And what was your winrate on this "pattern strategy", What kind of Rs you were expecting on each setup? What made you go in without a stoploss? Would you like to expand on these?

Please don't take anything I say personally but I'm afraid you don't understand the very definition of scalping. A scalp can last from a few minutes to a day. A "day trade" can last from a couple of hours to a few days. This is what any professional trader will tell you. Your money management wasn't sound. You said you were down 25-30 % on corrections which again shows that you didn't understand what scalping is. In scalping you hunt for small setups, Anywhere from 1.5R to 3R with tight stop losses. You never risk more than 0.5% of your account on any scalp cuz that's the very nature of a scalp.

Did you ever go through any formal course in trading before jumping in? like babypips etc? Cuz any good trading course will teach about risk management and how you cut your losses straight away. You don't hold and hope for a recovery. The Professionals don't trade in that manner. The word "Hope" isn't in a professional trader's dictionary let me assure you that.


And how was your experience in the stock market? What kind of returns were you able to achieve while trading stocks? Cuz from what you have described you aren't a professional trader or were at any point. This is a very novice/retail way of going about trading. If trading was all about Chart patterns and indicator signals then everyone would have become a millionaire by now. Just cuz you can name a head and shoulder pattern or read a divergence on a chart doesn't makes you a trader in any way or form. Speaking/knowing trading lingo isn't either. What makes you a trader is your ability to grow your account at a steady rate without huge drawdowns.

You mentioned how much time you spent on the charts but You never talked about your trade plan. What kind of strategies were in your trade plan? what kind of setups were you aiming for? Spending time in front of a chart without any trade plan is useless. You will not learn anything from it. It's like searching the ocean without knowing what you are looking for.

I do however agree with you on the amount of time which can be wasted if you go in without a plan. You can literally spend thousands of hours on the charts and you won't be able to come up with a single working strategy if you don't understand how this market really works. Unfortunately the reason behind it is not the retail traders but what the retail education has to offer. Retail education will only take you as far as Eliot waves, Wykoff's schematics and other harmonic patterns which leave you scratching your head when they won't work out even tho even a 5 year old will be able to spot them. The reason behind them not working out is not the ideas themselves but rather the "smart money" which knows how to take advantage of the dumb money who will be placing their life savings on the line over a "strategy" which they got off from YouTube.

I don't want to demotivate anyone from trading but please do yourself a favor and plan your trading journey out. Think outside of the box, come up with your own strategy. Backtest your strategy for atleast 6 months and then forwardtest it for 6 months. Don't even think about investing real money till you can prove to yourself that your trading plan works and you can grow your account over a period of 6 months atleast. I'm sorry you had a negative experience in the market but the market has done nothing but wonders for me and I can't be more thankful for what I was blessed with. I wish you Good luck and Good Trading

It's amazing that you are still able to do this kind of thread even though you are scalping and the amount of time and attention warranted to do scalping while at the same time make some good threads in the forum which I don't think is easy to do.