Which day trading method is best scalping or position trading?

[stormer]

Hi all,

I have been doing trading since from last 6 months and lost a lot.But still having the confidence that i can come out of my personal traits.Even though from last 2 months i could not able to earn profits and the same time lost very less amount (but all the money is by paying as brokerage)Write now i am trying to figure out which day trading strategy is best?

Well personally now i am using scalping but still failing to get profits from that all the money is going to brokerages now my question is which trading strategy is best?

1.Scalping
2.Taking long positions day using pivot and resistance points


i request all the experienced traders to post their suggestions of same.


Thanks

 

[XRAY27]

Well, Both can be done u go through post called intraday strategies and also apply pattern studies and pivot for guidence u will win in the market

 

[BrokerJi]

well to be brief, try finding the pattern in your losses and you will understand what not to do, can't suggest much as currently am too sailing the same boat........ brokerage almost equal to losses..... which proves that am betting more than trading ...

 

[joy.edakad]

find a setup/patterns that is highly reliable, master it, and trde it. See the difference.

suggestions - Simple support/resistance, double top/bottom, H & S etc.

 

[md_mu]

I would suggest you to go for swing trading first. Do day trading only on paper and check the mistakes you made and write them so that you can remember them next time you trade. Recover your losses from swing trading and then go for day trading.

 

[stormer]

Thanks all for the replies,

i have tried the paper trading already and could able to succeed in that.But when it comes to the day trading i was failing.

And when it comes to swing trading i dont have enough capital to generate revenue and recover from my losses.The only possibilty i have is using the margin leverage in day trading and recover.

Please suggest me some techniques from your experience.

Thanks

 

[Placebo]

Hi stormer. There is no fixed method/strategy which is best as such. The one which comes close to the best is the one with which the comfort and confidence level is at the peak.

Pardon me my friend for saying this but paper trading is one of the worst things anyone can possibly do. Its like shadow boxing. You might be the best in it but what happens when you get in a ring with a professional boxer ? Similarly paper trading would never-ever expose the emotional activity as no real money is being used and the end result would be no different : A knockout

Rather decrease the lot size and trade small amount of money which you are willing to lose and would bring no drastic change in your lifestyle. At the same time experiment all the existing strategies or the new ones that you have developed.

Cheers

 

[stormer]

Hi inangia,

Thanks for the reply friend.I totally agree with your views doing the paper trading and real trading is entirely different and experienced it.I am still trying to figure out my strategies that works best for me.But i was trying to quit scalping becuase i am working very hard to earn money and give it to my broker not for me.So as you suggested let me figure out some strategies which can work for me.

And tell your suggestions in terms of the same now already i am doing the trading in small lots which i can afford to take losses and struggling to keep my emotions in control.

Thanks

 

[columbus]

Hi stormer. There is no fixed method/strategy which is best as such. The one which comes close to the best is the one with which the comfort and confidence level is at the peak.

Pardon me my friend for saying this but paper trading is one of the worst things anyone can possibly do. Its like shadow boxing. You might be the best in it but what happens when you get in a ring with a professional boxer ? Similarly paper trading would never-ever expose the emotional activity as no real money is being used and the end result would be no different : A knockout

Rather decrease the lot size and trade small amount of money which you are willing to lose and would bring no drastic change in your lifestyle. At the same time experiment all the existing strategies or the new ones that you have developed.

Cheers

Better to trade with Minifty rather than paper trading.
The element of EMOTION is missing in paper trading.
In paper trading as you said end result is
KNOCK-OUT.

 

[md_mu]

Thanks all for the replies,

i have tried the paper trading already and could able to succeed in that.But when it comes to the day trading i was failing.

And when it comes to swing trading i dont have enough capital to generate revenue and recover from my losses.The only possibilty i have is using the margin leverage in day trading and recover.

Please suggest me some techniques from your experience.

Thanks

I don't want to hurt you but using leverage will make you go into huge losses. Even i used to do the same. The truth is that when you are trading on paper you are not bothered about losses thats why you get profits and when you trade for real the fear of losing money will make you take wrong decisions and you end up losing. So its all about your psychology. :thumb: