Maybe if you had a good mentor you would write a different thread. According to what you wrote it sounds as if for your psycology, to be right it is more important than to make money.
Another thing you might want to consider is to trade in a systematic way and not with a discretionary...
To Fireplace:
I'd rather side with someone who is realistic. The OP knows that there must be someone who can daytrade and make money consistently, but he never met such person (neither have I, have you ? ).
No one should ever give up his dream and if one wants to daytrade, great. 9 times...
To Logic Man:
obviously there are some good daytraders so what if I never met one who can make money in a consistent way ?
Still the odds are against the daytrader and the title of this post is very appropiate.
If someone can daytrade and make a living, all more power to him, however...
I agree with you 100%
however just like everything in life there are always a few exceptions.
My mentor is a small hedge found manager. The money I give him does not make such a big difference in his life, but he mentors me because he likes to teach/is bored/it's entertaining/makes no...
...and you are so focused on your distorted reality...you see the broker makes a small % of that money, but it does it with an uncanny CONSISTENCY the daytrader does not.
Daytrading is a pipedream
http://www.elitetrader.com/vb/showthread.php?s=&threadid=194342
Mr. Crgarcia,
you sir, are my new hero.
I too created a little thread and could not agree with you more.
DAYTRADING IS A PIPEDREAM
http://www.elitetrader.com/vb/showthread.php?s=&threadid=194342
You guys are all very jelaous.
Trading is something that can be learned by almost anyone as long as the source and the teachings are solid. It takes a trader years to learn, if he is by himself and if he is a regular guy. LeBeouf is a major movie star and he has exclusive access to people...
I have been employing systematic neutral strategies...diagonal spreads with future options on the SP500 and this year it has been going very well.
However I am also a systematic trend follower for other markets and although it is hard in the long run trend following works.
According to a...
Just be conservative, you might find yourself against the trend. If you think about it...it is kinda of strange...getting paid to provide peace of mind and liquidity in the market....is that what option sellers do ?
Wayne Gibbous,
he said he is long calls in other words he bought calls. All he can lose is the $275. If the calls get in the money he has the option of buying the stock, not the obligation.
No. The stock can go to $0.00 and the most you can lose is $275.
Just for your info...
It's is all about probability...the more ways to make money the less the money you are going to make....and the less ways to make money the more the money you are going to make.
Based on your (roi)...
Yes indeed. Anyone can learn how to trade as long as he/she is willing to unlearn old believes and the mentor IS A TRADER who makes money.
Only one thing: if you don't have a capitalized account 30k-50k or more....forget it, especially for daytrading. It does not work and never will...