Why would you trade the 1-minute timeframe? What's your current strategy doing? The big money in trading (with the adequate minimum risk/reward) is made focusing on the big moves. In real life few people would take symmetric bets, i.e., risk $50 bucks in order to make $50 bucks or LESS. Yet, in trading, that seems to be what so many try to do. The average scalper is risking 2 to gain 1. What chance does he have...?
I know...day trading is completely counter intuitive. Nobody makes money day trading so I'm not surprised the OP is in the same boat.
Good Morning Laissez Faire, Are you suggesting swing day traders make more money than scalping day traders?
OF COURSE! Day traders get kicked out of positions early, and miss the big moves all the time! BNF swing traded and he is the greatest trader of all time! Scalping is different than day trading because at least you are trading the chart and not the clock lol. Here is what the life of a day trader is like when they miss the rally because the day ended. https://youtube.com/shorts/FJT-3uzS_ZY?si=cRflGHUdbMBwjxT-
Well, I do! But things clicked for me after I started running home some big winners while ruthlessly cutting my losers. As for the OP, he didn't specifically say he wasn't making money day trading which is why I was curious and asked what his current strategy is. Morning, SML. Not necessarily. But I am suggesting it's harder to succeed as a scalper since you're subject to trading noise and you typically require a very high win rate to succeed. If you're going for larger moves intraday you can be wrong quite a bit and still get ahead. At the end of the day, there's nothing easy about day trading. I'm sure it's very common for a scalper to make money 10-20 days in a row and then lose it all on a bad day or two. His trader buddy CIS day traded. Pretty sure BNF did some day trading, too.
All you are doing is spinning your tires...maybe you like having six monitors and telling people you trade for a living I don't know, but every 10 trades you make could probably be done with 1 single, multiple day swing trade and open up your time to better things lol. Look at me, I just missed an entire trading day by accident...that shows you how important managing my positions are. Nobody with any understanding of price action would day trade. btw I have a four monitor setup...
You know as little about my results as I know about yours. That said, I do agree. Swing trading would be easier for most than day trading.
I know for sure that the majority of your trades are not profiting at full potential. Show me one of your trades and I will chart what you should have done. Or show me an upcoming trade symbol and I will swing trade it so we can compare.