Swing trading is my main focus so I thought I would share my story how I started my day trading journey. I started day trading 4 years ago after I have been consistently profitable in swing trading (holding from weeks to months).
Instead of compounding the profit in months, why not compounding in weeks or even days? Eventually, the price action trading method is fractal and works in all time frame, right?
I confidently dived in trading $Micro E-mini S&P 500 Index Futures(MAR5) (MESmain.US)$, yet I just can't make it profitable after 2 weeks. There was just too much noise in the M1, M3, M5, M15 timeframe, unlike the daily swing trading timeframe. I even tried other instruments like $Micro E-mini DJI Index Futures(MAR5) (MYMmain.US)$ , $Micro E-mini Nasdaq-100 Index Futures(MAR5) (MNQmain.US)$ , $E-mini Russell 2000 Index Futures(MAR5) (RTYmain.US)$ , or the hot stocks like $Apple (AAPL.US)$ , $Advanced Micro Devices (AMD.US)$ , $Tesla (TSLA.US)$ , $NVIDIA (NVDA.US)$ etc...and the end results are the same, just wouldn't cut it!
Risk Management
Fortunately, I adhered very stringent risk management rules, which I considered is the most important thing in day trading, to only risk 0.25-0.5% per trade and no more than 1% at any one time. This actualy saved me big time when I started day trading.
Reflection
Why would price action trading method fail in day trading? That's the question I pondered 1 month after started day trading.
Here are my key findings in day trading
1. Yesterday high/low level during the regular trading hours (RTH), which is the US session together with the high/low formed during the non-regular trading hours (Asian, European timezone) are the key levels to lean on.
2. Textbook style Wyckoff phases seldom occur in the intraday chart like 3 minutes chart (M3) as compared to the daily chart. So in day trading, it is best to lean on levels + volume and to trade "Wyckoff spring" and "Wyckoff Up thrust" as the trading setup instead of a full blown Wyckoff phase analysis.
3. Majority trades happen during the first 1-2 hours and the last hour during the US session. So, as long as I focus for the first 2 hours, I am good.
4. Grade A+ trade do not show up every day, it is normal to "waste" 1-2 hours just by looking at the chart.
5. Patient is important. Instead of forcing a trade just to "avoid wasting time", it is better to set the alert at the key levels and come back to the screen every 15-20 minutes to check if there is favorable price structure or anything unusual.
6. Of course, you need a method that is working for you, that will fit your personality, lifestyle and risk profile. For me it is price action + volume in Wyckoff analysis.
7. Cultivate a habit to review your trade every day. This is the fastest way to speed up the learning curve.
Finally, it took me 6 months to become profitable in day trading, that's even I have been profitable in swing trading before I start day trading. It is a great way to sharpen the trading skill despite tiring.

Welcome back Mooers!
In today discussion, we will talk about the events for the past 1 month of 2022. It is also the 15th article and the last article about stock options for my MooMoo goal for Q1 2022 .
Without further ado, let’s begin our Lunar New Year 2022 story!
January 2022 was a very exciting month to most Mooers. We witness several stocks breaking records such as Tesla and Apple, follow by $Nasdaq Composite Index (.IXIC.US)$ dropping ...

$MARA Holdings (MARA.US)$ Sold half after the rebound yesterday, bought at 41.65 today to lower the average cost. It won't rise in the short term, may rebound.

$AMC Entertainment (AMC.US)$ Haha, Ape is great! The government of the usa has been shaken as it attempts to infect global retail investors with a new variant of the virus in an attempt to save HF. This method is ineffective! Everyone buy more, or don't sell. Persist until the end! HF is draining our blood that they have been sucking for decades! Victory belongs to us.

Hi mooers, it's good to see you guys again in MooHumor!
It's almost the end of the year. How's your November? After a long and challenging year, are you still hanging in there? People usually face repeating patterns in life and get bored of it. Bringing a sense of ceremony to your everyday life can be a beautiful way to ignite your passion. Some mooers know how to use small rituals to bring themselves happiness. Let them show you how they celebrate their special days and memorable moment.
As usual, vote first plz~
Here we go~
@Deezy_McCheezy: $Longeveron (LGVN.US)$  im already ready for Friday. Volume wil tell you all you need to know in 36 hrs. If there us enough, a push to $43 is eminent and will retest $45 again. Dont they say 3rd time is a charm
@Steven Scripps: Only have one share I got at 100$ but I'm just glad to be part of team $GameStop (GME.US)$
@Smoke-A-Shotgun: $AMC Entertainment (AMC.US)$
@Questionable Invts: $AMC Entertainment (AMC.US)$  Have happy Thanksgiving from Citadel LLC. Yeah, resistance wasn't 41, 40, or even 39 its 38.
@UFTWY: $GameStop (GME.US)$ Purely for a feeling and belief.
@YuQing1688: ALL I NEED $AMC Entertainment (AMC.US)$
@Aydin Yilmaz: About $Biora Therapeutics (PROG.US)$
@DayleyTrades: $AMC Entertainment (AMC.US)$
@Apollod Wed: $Aptevo Therapeutics (APVO.US)$ and $Longeveron (LGVN.US)$ best tiny floater squeeze plays of 2021
@demntia: dip before the rip $AMC Entertainment (AMC.US)$
@Revelations 6
This week, we'd like to invite you to comment below and tell about: How do you bring a sense of ceremony to your everyday life or Trading life?
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$Futu Holdings Ltd (FUTU.US)$
Didn't get $95, I can only wait for $85