Quote from: Thekool1s on Today at 05:03:13 PM

Please don't take anything I say personally but I'm afraid you don't understand the very definition of scalping. A scalp can last from a few minutes to a day. A "day trade" can last from a couple of hours to a few days. This is what any professional trader will tell you. Your money management wasn't sound. You said you were down 25-30 % on corrections which again shows that you didn't understand what scalping is. In scalping you hunt for small setups, Anywhere from 1.5R to 3R with tight stop losses. You never risk more than 0.5% of your account on any scalp cuz that's the very nature of a scalp. Did you ever go through any formal course in trading before jumping in? like babypips etc? Cuz any good trading course will teach about risk management and how you cut your losses straight away. You don't hold and hope for a recovery. The Professionals don't trade in that manner. The word "Hope" isn't in a professional trader's dictionary let me assure you that.

My money management has always been balanced, I started at 1/20 of the deposit and constantly bet the same amount, I always withdrawn in excess of the profit, so I had enough money to sit out even 50% of the market collapse, which rarely happens, but it happens. My risk is always the same. If I get stuck in a trade and the market goes into a 25-30% correction, it means that I am in no hurry to exit a negative trade, but wait for a reversal. Such cases are extremely rare, on average, once every 2 months. I never use stop losses because I think the best tool is averaging. In margin trading, for sure.

Official courses do not guarantee you anything after taking them. If someone says that he took official courses, this does not mean that he can do something. The best courses are your own statistics, accumulated over the years. In trading, I never hope for a miracle, I only hope for my deposit, which will help me get out of the most erroneous deal. It is important here to correctly distribute your resources.

Quote from: Thekool1s on Today at 05:03:13 PM

And how was your experience in the stock market? What kind of returns were you able to achieve while trading stocks? Cuz from what you have described you aren't a professional trader or were at any point. This is a very novice/retail way of going about trading. If trading was all about Chart patterns and indicator signals then everyone would have become a millionaire by now. Just cuz you can name a head and shoulder pattern or read a divergence on a chart doesn't makes you a trader in any way or form. Speaking/knowing trading lingo isn't either. What makes you a trader is your ability to grow your account at a steady rate without huge drawdowns.

You mentioned how much time you spent on the charts but You never talked about your trade plan. What kind of strategies were in your trade plan? what kind of setups were you aiming for? Spending time in front of a chart without any trade plan is useless. You will not learn anything from it. It's like searching the ocean without knowing what you are looking for.

My experience of trading in the stock market is small, I was just learning from it. Professional trader? What do you mean by this concept? I am an ordinary retail trader. Professional traders never trade with their own money. Therefore, this is beside the point. Professional traders manage capital in hedge funds or investment banks and invest throughout their lives. Many people mistakenly believe that if they have been trading at home for many years, it means that they are professional traders. No, these are the most ordinary retail traders.

Trading comes down not only to the fact that you can read charts, I have not written about this anywhere. Trading is a complex complex process in which your strategy, your psychology, your risk management, money management, your skills and abilities are involved.

In terms of strategy, this is trading on certain patterns on the chart that I am best at trading. These are the situations on the market, whose development of events is the most obvious and predictable for me. That is, I look at certain candles and levels on the chart, and for myself I make a decision about entering a trade.