I wouldn't be surprised because I too daytrade (when market conditions are great for daytrading), its dumb to aim to make consistent money everyday though, the market is not an ATM machine that dispenses money on demand, most traders don't realise this and this is why they fail.
2014: The Battle for Survival
- Thread starter neke
- Start date
I wouldn't be surprised because I too daytrade (when market conditions are great for daytrading), its dumb to aim to make consistent money everyday though, the market is not an ATM machine that dispenses money on demand, most traders don't realise this and this is why they fail.
Yes, it would have been better to put the money in SPY since Jan 2011 - with the benefit of hindsight. Actually, I could have loaded up on OTM SPY Leaps and made a gazillion
Having said that it is not all doom and gloom. Up 35% since then. The withdrawals (nearly 350K since then) have ensured I have other account/investment that is keeping up with the market. I don't day-trade those.
That was perhaps a wonderful idea to have decided to only take out, and not bring in a dime into the account, for the last 15 years.
And, since you chose 2011 for the start of performance, I dare to add the performance from Nov 2004 - Jan 2011. Most of the gains obviously took place then.
Code:Nov 2004 Bottom 5,300 P/L +936,300 (17500%) Withdrawal -605,600 ----------------------- Jan 2011 Start Bal 336,000 Jan 2011 Start Bal 336,000 P/L +118,000 (35%) Withdrawal -347,000 --------------------------- Jan 2021 Start Bal 107,000
My point is it took you forever to realise you didn't have an edge, 35% return over 10 years is puny relative to the time that was wasted on trading.
I think deep down you probably know that you were just lucky with the 17500% gains from 2004 - 2011, between the insane martingale and fading strong moves you were always on the cusp of blowing up. This is why you have been making huge withdrawals from your account regularly. Traders who have confidence in their strategy and money management skills don't drain their accounts regularly, they compound their gains.
If I had neke's programming skills and time, I would just create a simple scanner to sell to people, day trading courses, and a youtube channel showing my "trading skills" to sucker in followers willing to pour money into me at the same time I pump up penny stocks using the platform to sell into my followers (essentially ross cameron, the slimey fuck).
As for myself, I am gonna start just putting money in cheap dividend stocks and holding as long as I can. I have held cash in a bank for years which is retarded.
As for myself, I am gonna start just putting money in cheap dividend stocks and holding as long as I can. I have held cash in a bank for years which is retarded.
Lucky for 7 years? Have you ever day traded? I don’t even think winning for several months is lucky. 90% of the day traders lost money, winning for 7 years is extremely talented and skilled in my opinion!
2008 & 2009 were some of the easiest markets ever, a simple intra day breakout system would have printed money back then.
Of course lots of traders lost money those years, but for momentum trading they were the best.
Those years the markets made more big moves intra day during RTH, this last year a lot of the bigs moves were overnight. And the regular session was choppy.
A lot of the simple strategies that worked well before 2009 stopped working as well after 2009.
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In my opinion, the winning possibility of day trading is not related to the market, there are so many stocks with the right volatility and volume to trade each day, you need the skill to pick the right ones and trade properly, long or short.
You can make money every year as a day trader, but some years are so easy you can end up making huge returns. I mean turn 50k to 500K or more with a small drawdown.
You just cant do that every year. For decades on end.
I am a scalper, scalping works every day, it works for ever!
Well there were trading arcades full of scalers in Europe, they were all printing money up until 2009.
Then many of those arcades shut down. The old scalping strategies no longer worked.
If you got something that works, milk it for all its worth, trade as much size as the market will take because it's not going to work ever.