1. How long does it take to become a day trader.

Many streams of opinion suggest that it takes years to become a trader with stable profits, of course, you cannot have stable profits in 3 years if you only trade for 1 year? But having a profit of 1 year in 1 trade year, it can be considered that there is a stable profit or not. This stabilization is too subjective. 6 months is enough to become a day trader stop losing losses.

2. Ships of trading and MMA trading.

Characteristics of the shipmaster:
  • Hands are not against dozens of gangsters holding swords.
  • Lonely bridge and defeat reputation.
  • Need to fall on the mountain to gather the great martial arts or be taught by the singers
Characteristics of MMA:
  • There is a high chance of defeating a normal person in a solo battle with bare hands.
  • Able to lose even someone who does not have martial arts but is used to fighting.
  • Anyone can learn.
Features of Trading Ship Ships:
  • Winrate high RR high-profit margin.
  • Ten years of non-skilled tai chi is still at a loss.
  • This effort needs to fall to the mountain to cultivate the city.
Features of MMA trading:
  • WR is about 50% with RR which is good enough to be profitable in the long term.
  • It takes about 6 months to stop losing money with day trading.
  • Anyone can practice with the right methods.
1. Use of indicators.

Like many people, when they first started trading, they focused on finding the holy grail. It took about half a year to realize it wasn't real.
  • Misinterpretation: an indicator for buy and sell signals.
  • Correct understanding: indicators show how the majority are acting.
2. Select indicator selection.

Which indicator to use, and after selecting the indicator which parameters to use. Many people like to look for unique indicators or use very personal parameters. If you think that an indicator's use is in showing how most people act, then you should go with the common indicator and the default parameter.

The illustration below is a EURUSD 1 minute chart with the SMA20. Why is the SMA20 and not the SMA21 or the EMA20 or the EMA21? As mentioned, thinking about the indicator is to find out how the majority reacts, the SMA20 will coincide with the middle line of the Bollinger band indicator, most BB users will leave the default parameter SMA20. That is the reason why you should choose SMA20, it is used by many people.

3. Price response to the indicator.

The chart above is for a period, the first is an uptrend with 1 quite steep correction forming a 2-bottom pattern then going up to create a top. Followed by the downtrend, and at the end of the session, the price level went sideways.

Areas marked at the ascending and descending stages, white circles. It is easy to recognize that the price continuously creates fake breakouts when it penetrates the SMA during an uptrend and when it penetrates the SMA20 when the downtrend is down.
  • Think right: wait for the price to cross the SMA20 and trade a false break.
  • Wrong thinking: change the SMA to EMA, 20 to 19 21 25 ... for the price to bounce off