Daytrading is not the place for novice or inexperienced traders to learn their craft.
Daytrading is the most difficult timeframe to be successful in. Novice traders and inexperienced traders should start on at least weekly data based trades and possibly even monthly.
The closer you get to the noise of the market, the more mistakes you will make for the simple reason you will encounter all of the following;
*stop-running
*price manipulation for institutional fills
*liquidity providers
*volume based on derivative hedging
*Fundamental based news that is released intra-day
Until you can trade these in a longer timeframe successfully, what evidence suggests that you can trade these successfully in a compressed intra-day timeframe?
The answer is that only 1/100 will start as a novice within daytrading and actually succeed from the get-go.
Would you perform brain surgery without 5yrs Medical School and 7yrs as a specialist [surgery]?
If your answer is no; what makes you think you can outcompete the specialists out there with 10yrs,20yrs experience?
No qualifications save a $25K stake are required to enter this "profession".
If you enter as a novice, you will lose your money.
Knowledge, Experience, Courage are required prior to the "dream".
jog on
d998