MoneyTec Traders Community Forum - View Single Post - Day trading or positional/longer term trades?

Truville · 06-08-2003, 19:19

I have had simply ZERO luck with the day trades, and consequently trade only on the day charts. 5 min, and even hourly charts, have given me nothing but ulcers.

Instead, I use a system that highly qualifies trades on the daily chart. I’ve made profits as high as 450 over the course of a week, to as little as 7 pips in a day. The catch? I trade maybe 4 times a month.

As far as interest, that isn’t a big concern. Interest has never substantially cut into my profit.

Yes, the draw down can be substantial. I’ve been down 140 pips in a day.

So if you can trade smaller charts, I envy you. But bigger isn’t bad either.

06-08-2003, 19:19	#8
Truville Bye everyone! Join Date: Jul 2003 Posts: 416 Downloads: 0 Uploads: 0 Rep Power: 0	Daily only I have had simply ZERO luck with the day trades, and consequently trade only on the day charts. 5 min, and even hourly charts, have given me nothing but ulcers. Instead, I use a system that highly qualifies trades on the daily chart. I’ve made profits as high as 450 over the course of a week, to as little as 7 pips in a day. The catch? I trade maybe 4 times a month. As far as interest, that isn’t a big concern. Interest has never substantially cut into my profit. Yes, the draw down can be substantial. I’ve been down 140 pips in a day. So if you can trade smaller charts, I envy you. But bigger isn’t bad either.