Day Trading as a Trading Style

I’m only slightly in profit day trading, it sure isn’t easy and requires lots of dedication and screen time and I’ve not made enough to live off after losing all my initial big gains in my rouge trade but I’m not underwater (yet) I’m being more selective in my trades but all this chart watching is boring as hell and I’ve missed lots of opportunities through being too selective and not watching the right chart at the right time. Perhaps sticking exclusively to one instrument is best? I missed 8:05am long on DOW and been sat here watching it going sideways all afternoon!

If a trader decided they preferred day trading then it might be a case of continually monitoring the win: lose ratio and increasing stake size as ATR falls. That way it should be possible to produce a similar income with increased stake from a smaller ranging market.

My trades are still very much discretionary so I’m easily talked into or out of good/bad trades. I haven’t used indicators such as bollinger, adx, cci etc I just use support/resistance levels and then look for a signal by the break of a candle, i.e. bullish engulfing, pin bar etc. I’m going to keep working on a system which helps to take away that discretion and help with the discipline. At present I’m doing a little better than treading water!

Spread betting encourages you to day trade, many day traders lose money. It is a more prudent strategy to work on longer time frames, exploit the fat tail probability of trading

I tend to struggle on longer timeframe trades because I find it hard to disconnect from my daytrading mindset, sometimes you just need to play to your strengths, but the market can be very cruel…