I thought i summarize my experience so far day trading in case any newer folks are interested Day trading is much harder than swing trading and especially at those lower time frames.
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My thoughts who has experience with trading far are: 1. Even the supposedly guru's are full of sh t.
For example the guy who wrote that best seller "Trading for a living", Dr Elder. He came up with his own "impulse system" and brags about it. I have no idea if he is cheat for binary options or not but its seems to me that it's the easiest thing in the world to prove your validity.
Publish your trading accounts, get them audited by an auditor, show tax statements, do live streaming etc If I was building a business as a trainer that's what I would do. Keep a word document and write down your own points.
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You are essentially trying to make cash like flipping a coin over the long run with one side weighted in your favour. I personally think that is too much.
Who has experience with trading would keep it at 0. Demo always seems like a good idea but in reality it never worked for me. I have put on 4 trades over last few days.
My aim is to just break even by christmas to see if I can sustain a modest living in this. I have income from other sources anyway.
The reality is that its a heck of a difficult job to make money day trading. I don't blame them, it's a business model, not a hippy self help group, but just be realistic.
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I believe if you are not making money in two or three the problem is you, not the asset. They all have their own personalities, e.
You need to limit all the moving parts and focus