Why trading recommendations for day trading are useless?


We are frequently asked to give trading signals with entry, SL, and TP levels. While these recommendations can be useful at a specific point of time, their validity expires like an option. The market is vibrant and flexible. All inflowing data can change the market equilibrium  quickly. An important announcement, a comment  on the monetary policy, economic news can substantially change the market sentiment.

If you are a day trader, you trade psychological ebbs and flows and surf the wave of euphoria and fear. After all, the market consists of humans. Your technical analysis  on the chart is just one dimension of the market.

Also, if you follow someone’s advice to open a position, you never know if the position was reduced or closed, if SL was moved to breakeven, if TP was modified because  a new headline came out. Of course, it is still useful to read views of other traders, especially, a complimentary research which can give you another perspective on the market. Nevertheless,  always trade your own view and your understanding of the market. That’s the only way how you can learn from mistakes and adjust  your decision making process accordingly.