Why Intraday is for losers!
Learn Shorting Instead!
In recent times most of the self-proclaimed swing traders so called gurus are thumping their chest and promoting intraday trading in twitter which is absolutely ridiculous.
First thing first what every I am saying is with respect to intraday stock traders. Now let's understand why they are doing it in the first place. Because swing trading on the long side is not working currently and they are not shorting the market. Main reason they are not shorting the market is they have skill issues which means they don't know how to play on the short side, or they have limited capital to do shorting.
Just imagine if you're good at trading on DTF both on the long and short side would you even care doing intraday?? Just think about this. Even if I am not good at shorting, I would never do intraday because of the inherent problems it comes with.
The GOAT, Qullamaggie started with day trading and was profitable. Even though he was profitable, why did he move to swing trading? That too trading US markets where RR of day trading is good compared to Indian markets as they don't even have circuits and %change moves are big and more liquid too. This is also one aspect that you have to think upon.
The legends I know of like KQ, Pradeep Bonde or Dan Zanger etc etc don't trade in different timeframes because it's practically very difficult to switch from one to another. All these guys just operate on one time frame that is daily TF and sometimes use a lower time frame for entry or something like that, which means they use it as a supporting TF not like they have one setup for DTF and one setup for 5MTF. I have never come across real great traders like these.
Great traders usually trade multiple asset classes, not multi time frames. Think about this, because each time frame has its own dynamics. Same goes with successful day traders they only do in lower time and take support of DTF don't have each setup for each time frame.
Day trading works best in bull markets whether you like or not this is a fact. As RR is better in bull markets. Which is common sense as stocks make big moves in that period. So if day trading works best in a bullish market, anyways at that time you can do swing trading then why even bother to do or learn it in the first place.
And the people who are promoting, Is it a proven strategy? Has anyone done this for years and been successful? Any proven track record? Answer is No. They tell and you believe it.
Whatever data we use in trading view or broker most of it if not all is not tick by tick data instead it's something called secondary data. There is lots of difference between these too and this secondary data is actually slow and doest give actual representation of buyers and sellers in lower TF hence trading in 1 Min chart doesn't make sense at all this is also reason why candle jumps especially in illiquid names this happens and sometimes your SL order will be executed even if candle is not showing, personally I have faced this issue. Read more about this here.
Ask yourself is it scalable? Can you put 10L plus in one trade?? With SL of 0.25%, 0.5% or max 1%? If SL is bigger than this, I dont think it’s day trading. So the answer is clearly No. As capital increases more and more will be your slippages doing intraday.
Effort to Effect ratio is too poor. You have to spend lots of time to spot a setup then trade it hence screen time is obviously very high. And if you see, it's very difficult to narrow it down to one stock and trade it. By chance if you miss it then you will have all kinds of FOMO, frustration etc. Mentally it's very demanding.
Summary,
If you are still trying to master swing trading why explore day trading don't waste time and energy on this. Instead learn shorting, explore WSS as a setup by Pradeep Bonde.
So called self-proclaimed gurus are not skilled enough or don't have money to short the market. You should not be following them in the first place.
Great traders have a primary trading time frame and base all their trading on it, and they don’t have setups based on each individual time frame instead they do multi asset trading. Because it's really hard to transition from one TF to another or that switching is too difficult. I would say impossible while trading live markets.
Inherently the odds of being a successful day trader or doing it are very less hence it's not worth it, even to explore it if you're already a swing trader.
Day trading works best in a bullish market not in a bear or choppy market which is a fact.
Their style of day trading has no proven track record. No valid proof that it's working. Then why do you want to waste time and energy on learning it?
The data feed that we get is delayed data feed or let's say its improper representation of actual buying and selling.
Lower time movement is too fast to handle for 99.9% of the people. I don't want to trade anything that elevates my heart rate. And what makes you think you are a 0.01% guy?
Not scalable at all. For me everything is about scale. If something is not scalable, I don't think it's even worth doing it first place.
As capital increases more and more you will have slippages.
Effort to effect ratio is too poor. Hence higher is the screen time.
Mentally it's very demanding hence you're better off not doing it in the first place.
Pls share some content on Short selling to
In india no one talks about Short selling techniques
So honest review about Intraday 🫡