Hello, my friend, and welcome to this video discussing “Is Day Trading Profitable?” How much day traders really make and their day trading success rate depends on how well educated you become, the skills and the experience you develop over time. Enjoy!
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“Is Day Trading Profitable?” – Video
Hey everyone, I often get asked whether day trading is profitable. Well, the answer is yes, it can be profitable, but the truth is, many people lose money day trading. However, this isn’t unique to trading—it’s similar to other ventures where a minority succeed while the majority struggle. It’s like the 80/20 rule, known as Pareto’s principle, where 20% achieve success and the rest don’t.
To succeed in trading, you need skills and knowledge—not just relying on free internet resources like this video (which is okay for learning basics). To turn trading into a profession, you must go beyond what most beginners learn.
Analyzing Swings and Using It for Intraday Trades – Is Day Trading Profitable?
Here’s a strategy that works well for me: observe daily chart swing points and apply them to intraday trading. When you spot high-probability swing highs or lows on the daily chart, switch to intraday charts for potential trades.
Let’s use an example from a recent trade I made. I prefer using a 10-minute chart for intraday trading, focusing on unidirectional moves that align with the daily chart’s swings. For instance, I recently traded the Nasdaq-100 Micro E-mini futures to test the market and gain experience with smaller contract sizes.
I look for setups based on daily chart swings, aiming for big wins. For instance, I identified a downtrend on the daily chart and waited for a setup on the 10-minute chart to confirm the trade direction. After a complex retracement pattern, I entered a short position when the trendline of the Chaikin Money Flow indicator broke, indicating downward momentum.
Wrapping Up!
This approach is just one of many setups I use. It’s essential to wait for the right conditions and setups that align with your strategy. Remember, trading success requires practice, testing, and adapting strategies to suit your trading style.
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I’ve never seen anything else teach this particular price structure. So go get that by clicking on the green icon in the top right-hand corner of the video there, or by clicking on the green button below, and that’ll take you to a page where you can opt-in, get the video for the rubber band trade strategy, along with some other great free tutorials, one of my little mini-courses, absolutely free, courtesy of Barry Burns here at Top Dog Trading.
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BTW, if you’re interested in the indicator that I use personally for very precise entries and exits. I’m happy to share that with you. Just send me an email at support@topdogtrading.com, and I’ll show you how to get access to that indicator.
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