Recent content by soulfire

The studies you posted don't show day trading is impossible, just difficult and only a small percentage can achieve, which everyone already knows. The purpose of this study was to see is Day Traders can learn by trading. Majority of traders fail and a small percentage succeed. So they don't...

The actual title of this thread should be "Another TRADER bites the dust" It's common knowledge that ALL time frames of trading can be profitable if one has the appropriate skill. The easiest level is to just buy and hold an index fund and do nothing. Everything else can be considered short...

No one is going to be able to give you any real applicable advice unless you add more information about your abilities. You said you believe you can make a living from day trading. Here are what some other people believe: 1) They will be discovered in LA and make a living being in movies/TV 2)...

"Any fool can criticize, complain, and condemn- and most fools do" - Dale Carnegie You've made a huge assumption that is entirely incorrect. Why are you assuming they are random? Are you among those who think charts that span several years are not random, but shorter term charts are? A...

The tragedy of this study is that it lead with the wrong main summary point and as a result offended many traders. That said, taken the right way, it can provide some decent insight for struggling traders. The way I understood the study, is that the attack isn't on traders, but on the brokers...

Okay, here is my followup response: 1) This biggest part about traders having to spend so much time in the research/trial and error phase before they come up with a working system, if they ever do, is the time lost chasing after false leads, and having to retrace ones steps and proceed in a new...

That's a very generous offer if legit and definitely not typical of what you see on trading sights. That said, since it goes against the norm, you really should give a more detailed intro about yourself. At best you are a generous soul looking to help others- at worst this is prelude to just...

The first step is to ask your relatives/friends if anyone trades for a living- this is your best shot at finding a legitimate mentor who would most likely be willing to show you the ropes and share crucial information with you that they wouldn't with others. Self learned trading can take many...

Congrats on your sons success. The odds of succeeding in professional gaming are far worse than that of trading- with odds rated as low as 0.01% : https://kotaku.com/your-odds-of-being-an-eathlete-esports-is-rapidly-becom-1620528958 I'm curious - did you do your best to talk him out of being...

You can't get an accurate answer about the percentage of traders that succeed, because there is no pre filter establishing a level starting basis. Anybody who can scrape up broker minimums qualifies as a "trader". So the field includes people who take it seriously and do all their due diligence...

My assessment of your situation is that you are not a good fit for day trading and should just buy an index fund and long term invest. I based my assessment on your question which says quite about about you - most of it negative: Other than experience? How do you expect to learn except from...

Let's look at your situation: Reading the thread we see you have a system that has only been back tested, if even that, that generates just $80 using 2 ES contracts that requires manual trading at a minimum of 7 hours a day. You also have a family to support. You need enough capital to trade...

It doesn't appear you have done full research into the viability of succeeding in day trading. After six weeks of attempting to day trade, you have not shown you can make profits, let alone be consistently profitable. You casually mention a goal of making $300/day, which ignores the fact that...

You are conflating the "mechanics" and descriptors of trading with the ability to trade at a level to be consistently profitable. No one complaining about trading being hard is talking about the "rules" or trading nomenclature. That should be obvious so to make a claim that trading is "easy"...

What I said isn't a contradiction. He stated learning to trade wasn't the same level as difficulty in learning a language- and more like a computer game that is "easier" to learn and comprehend all the basics. There are indeed computer games where this is true. My statement is pointing out...