Reply To: Day trading: Does it work?

#185859
Christian Harris
Participant

    Day trading can work, but the truth (at least in my opinion) is that it’s the hardest type of trading, which is why the vast majority of day traders end up losing money.

    Why do I say that?

    Day trading, as I’ve experienced, can be emotionally draining. It demands unwavering focus and the ability to make decisions under pressure. Sudden market fluctuations can swiftly wipe out profits, adding to the emotional rollercoaster.

    There’s also so much noise when trading on small timeframes, making trading momentum extremely hard.

    Successful day trading is not a part-time endeavour. It demands full-time dedication and a significant amount of experience to navigate the volatile market conditions.

    For those just starting out, I strongly advise beginning with swing trading on 1-day (or higher) timeframes, without using leverage. This strategy minimises the risk of sudden price movements and overnight fees, providing a more stable foundation for your trading journey.

    Once you become more comfortable trading a few different types of instruments (or specialising in one), you can consider using a smaller timeframe for quicker profits (and losses).