Day trading

[bzparkes]

Any day traders here? I've been mucking around for a few years but only really started to take it seriously recently with backtesting, etc. Feels like a cloud has lifted from my brain, lol.

I've ridden the highs and lows of the crypto bullruns, from things like putting $100 in and having it be worth $30k USD, only to have it ride back to $2k because you refuse to sell, to buying a meme coin at $10 and sell it 5 minutes later at a 50% loss, only to have it worth $170k USD 6 hours later and I swear it's far more satisfying to trade successfully and get a $10 return consistently on a $100 account than that.

 

[burge13]

I think most people would benefit from just being a momentum trader short term than try to nail entry/exits on day trades...

Use the trend.

 

[Kanga Commando]

Any day traders here? I've been mucking around for a few years but only really started to take it seriously recently with backtesting, etc. Feels like a cloud has lifted from my brain, lol.

I've ridden the highs and lows of the crypto bullruns, from things like putting $100 in and having it be worth $30k USD, only to have it ride back to $2k because you refuse to sell, to buying a meme coin at $10 and sell it 5 minutes later at a 50% loss, only to have it worth $170k USD 6 hours later and I swear it's far more satisfying to trade successfully and get a $10 return consistently on a $100 account than that.

I dabble with this, and spend a lot of time back testing various algos. Some of my own, some borrowed.

I would never day trade crypto - its way too volatile for my stomach.

The most reliable things to day trade imho are usually the ES & NAS e-mini futures, maybe gold as well. Currencies if you are good at it.

I can only recommend backtest and forward test the hell out of everything. If you can do that well then you can sleep easy.

I also do think price action is a better skill, but i have learnt the hard way that i am not patient enough for it.

I have to play to my strengths, avoid my weaknesses.