Intraday Trading is gambling

LLewis posted:
Btw, gambling is one of the additions hardest to overcome. If someone gets addicted to trading in a way that no indepth analysis is done anymore but just the hazardous feeling is leading, it can have bad consequences, like with the people that go to casinos and lose a lot. Just wanted to bring up this aspect as well.

Damien1881 posted:
For me, intraday trading did not work.
Stops always got run over so now I start with monthly and work down but don't go below 4hr.
Most of us and predict the movement for a couple of pips most of the time, do it on the monthly and you get a couple of hundred!
I check my charts once a day looking for entries or to close profits and that's it.
My positions are very small in comparison to most so I don't have to use stops and now I always win.
Stress free and positive results.

*If I wanted to trade intraday now it would only be with an ea that uses multiple time frame analysis.*

camerongill posted:
If you look through the Anton Kreil Institute of Trading and Portfolio Management Youtube channel you will hear them say that intra-day traders are idiots. However their approach is quite different than mine, they are long term across multiple instruments and all about finding trade ideas and hedging positions.

Actually, Anton came to Perth a week or so ago and I paid $30 to go and listen to him in a 2 hour seminar. 20% of the seminar was content (about their traders and trading profiles) and rest was selling the institute, training and mentorship. Don't get me wrong, I respect the guy, but I also believe that if intraday trading is seen as gambling then all trading should be seen as gambling. What was interesting though, only 50% of the people that go through their program make money and of those the average return is 18% per annum - there are a couple that have doubled their money every year for a few years.

I prefer to look at it as the intention to make small profits from pattern recognition and chart conditions.

With risk comes reward whether you are trading long term or short term positions. I think the longer term positions actually carry more risk but everyone is entitled to their own opinions and you just got mine!!

togr posted:

Damien1881 posted:
For me, intraday trading did not work.
Stops always got run over so now I start with monthly and work down but don't go below 4hr.
Most of us and predict the movement for a couple of pips most of the time, do it on the monthly and you get a couple of hundred!
I check my charts once a day looking for entries or to close profits and that's it.
My positions are very small in comparison to most so I don't have to use stops and now I always win.
Stress free and positive results.

*If I wanted to trade intraday now it would only be with an ea that uses multiple time frame analysis.*

@Damien1881
How does it come such 'successful trader' like you posses only one real account which was not updated since 2015?

togr posted:

Damien1881 posted:
For me, intraday trading did not work.
Stops always got run over so now I start with monthly and work down but don't go below 4hr.
Most of us and predict the movement for a couple of pips most of the time, do it on the monthly and you get a couple of hundred!
I check my charts once a day looking for entries or to close profits and that's it.
My positions are very small in comparison to most so I don't have to use stops and now I always win.
Stress free and positive results.

*If I wanted to trade intraday now it would only be with an ea that uses multiple time frame analysis.*

@Damien1881
How does it come such 'successful trader' like you posses only one real account which was not updated since 2015?

Damien1881 posted:
@ togr and rob559 - I've update my live account that I had abandoned, just for these MM's trying to discredit me while promoting yourselves, I didn't blow it, I had ignored it. To ASSUME is to make an ASS out of both U and ME
I did many courses years ago and wanted to point out that Andrew Mitchem from FPA uses and teaches his method of Technical analysis only, no fundamentals involved, I've met others, Trade empowered as another example also teach technical analysis -
https://tradeempowered.com/the-fundamental-myth/,
All I've learn't from INTRADAY TRADING IS GAMBLING IS, if you want to Manage others Money, create your own threads.
My point is, I've used what I've learn't, created my own system with back and forward testing, using nothing but technical analysis with LONGER T/F and low leverage. I found a way and was willing to share but it wasn't helping the hidden agenda so wasn't welcomed.
Now it's time to unsubscribe.
Good luck.
 

camerongill posted:
If you look through the Anton Kreil Institute of Trading and Portfolio Management Youtube channel you will hear them say that intra-day traders are idiots. However their approach is quite different than mine, they are long term across multiple instruments and all about finding trade ideas and hedging positions.

Actually, Anton came to Perth a week or so ago and I paid $30 to go and listen to him in a 2 hour seminar. 20% of the seminar was content (about their traders and trading profiles) and rest was selling the institute, training and mentorship. Don't get me wrong, I respect the guy, but I also believe that if intraday trading is seen as gambling then all trading should be seen as gambling. What was interesting though, only 50% of the people that go through their program make money and of those the average return is 18% per annum - there are a couple that have doubled their money every year for a few years.

I prefer to look at it as the intention to make small profits from pattern recognition and chart conditions.

With risk comes reward whether you are trading long term or short term positions. I think the longer term positions actually carry more risk but everyone is entitled to their own opinions and you just got mine!!

HolyGrail2222 posted:

togr posted:

Damien1881 posted:
For me, intraday trading did not work.
Stops always got run over so now I start with monthly and work down but don't go below 4hr.
Most of us and predict the movement for a couple of pips most of the time, do it on the monthly and you get a couple of hundred!
I check my charts once a day looking for entries or to close profits and that's it.
My positions are very small in comparison to most so I don't have to use stops and now I always win.
Stress free and positive results.

*If I wanted to trade intraday now it would only be with an ea that uses multiple time frame analysis.*

@Damien1881
How does it come such 'successful trader' like you posses only one real account which was not updated since 2015?

VONTOGR, your accounts and systems are all over the place, many of your accounts have been deleted or are in negative, WHy don't you just trust Damien. You do not need to be rude. People do not have to publish their accounts if they do not want to. I'd say VOntogr is just looking for investors to trust him, probably a scam too.