First theme is the fast vs the slow "aka day trading" and the patient vs the impatient "aka swing trading".
There are other themes such as the right vs the wrong, fundamental vs technical, but I promise you, you can go ahead and ignore those.
Day trading involves using very short term strategies, usually intraday trade duration. Day traders make use of the 1 minute to 4 hour charts to make trading decisions , and attempt to make money on betting the right direction of the asset prices trade. Swing traders use the daily and monthly charts. There is a weekly chart for the long term traders.. it will make you money surely but you need to wait for months to achieve the right return on risk taken.
Now I just said the weekly chart has the highest probability of making you money , so why do 90% of traders lose money? Because they can’t stand losing.
They equate losses with losing. It’s a psychological issue with people. I love pending losses now but it took a while.
Most traders especially the new, are day traders.
Sure they make money and majority give all the profit right back to the swing traders or those who love pending or temporary losses. There is no Mr Market, it’s just people using different themes.
Now is there a problem with day trading strategies? Can one consistently be profitable month after month? Sure. But you must have the right expectations. And you must understand Mr Volatility, the real topic of this speech.
Volatility is the bread and butter of every trader. Volatility is responsible for millions of jobs, student loans, retirement plans, consumer loans and pretty much makes the world go round.
Volatility in finance is the degree of variation of a trading price series over time as measured by the standard deviation of logarithmic returns.
Meaning it is the rate of price changes, up or down for a given set of returns , example from -100 to 100.
When a company announces good news, it creates volatility in their stock price. When a country has an employment or unemployment figure about to be released, its currency rates get volatile. Volatility is highest when there is new information coming in.
Now this is what you should be looking for, this is the only thing you should be looking for. You are risking capital to make profits, not to be right or wrong but to be in green if your money is on the right side of volatility. Therefore your ability to change direction is equal to your ability to be on volatility’s good side for that period of time, which is equal to your ability to make money.
Day traders therefore have short term volatility currents and so can not afford to make their tent on a 1hr timeframe or stochastic indicator alone. If they do, it must be at the highest volatility, at incoming information. Usually the strongest fundamental news or technical price structure for that day. You don’t need to have an opinion, just make sure your positions can change in a split microsecond. This is where automated trading comes in. With automated trading using algorithms or trade formulas which hopefully pursue volatility , day trading can be profitable. That doesn’t mean you should trade everyday, instead you should wait for the strongest volatility for that week; the most important new information.
Every market is useless if prices are not moving. The crypto currency market has been the most attractive in 2017 only because of its massive volatility. Think volatility.
Krosscoin, a new crypto currency or token on the ethereum block chain has developed the only tool on earth that gives you an opportunity to chase volatility anywhere you are from your smart phone.
You can launch automated systems from the Pipdroid app to the Metatrader platform, releasing fast changing day trading strategies or swing trading strategies, managing automated systems. Pipdroid is connected to several brokers, giving you access to trade bitcoin, litecoin, ethereum, ripple, gold, silver, currencies, oil, stocks, indices and even bonds.
Traditionally, traders have to put up with expensive monthly costs up to $60 per month for a remote server or VPS, stay close to their laptops, spend hundreds of dollars programming strategies that are not optimized because of the lack of mobility of these tools. With Pipdroid, you have the power of volatility wherever you are. You can upload your strategy bots file from your phone or use the bots provided in the app. These bots are designed to put you on the right side of volatility, but you must use them at the right time, the volatility time. Your smart phone can now help you make smart money.
For More Information:
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ANN Trhead
Medium
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ETH: 0xBe138663b8A0aaFdaAb13A89eE35
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