4,000/1 Odds

Quote from crgarcia:

Not surprising.
Daytrading only works if you can frontrun your large customers orders.

Now I'm only a long term value investor.
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Long term value investing will be a hoot if they adopt global accounting standards, which imo is coming to a 10k theater near you.
 
Quote from jdeezero05:

More like his study is telling us a bunch of nothing since its going to be hard to quantify "day trading" and "consistently profitable"..and using data starting in Taiwan in 1993? are you kidding..
Just sounds like another professor who got burned trying to trade and now has something to "prove".
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Everyone will believe what they want to believe, and one person's delusion doesn't concern me. But I'll just counter a couple of your points.

Trading data is quite detailed in Taiwan, because officials are wary of Chinese (PRC) manipulating their market, i.e. the regulators try keep close track of who is trading what. Also rampant insider trading here, so regulators do what they can. (Of course lots of insider trading here in dummy or 'front' accounts, but that is another issue.) Every day it is reported how much of what stocks are bought and sold by 'Foreign Institutions,' 'Local Institutions,' and individuals. Data even shows what brokers are handling the trades. This is all on the regulators homepage, updated daily last time I checked.

'Day trading' definitions are quite simple: X% of trades are entered and exited during one trading session, or one 24 hr period.

But keep churnning 'em to your heart's content. Now you have nobody to blame but yourself.
 
Quote from gnome:

So... with the 100,000 or so ET members, that means there should be only about 25 true winners...

I'll bet if there was a poll, about 25,000 would claim to be one of the "25".. :D
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Interesting thought. I would think there is some selection bias in that prospective day traders come to ET as they climb their learning, or disillusion curve. Successful day traders don't wander over here ... they are not looking to learn, and not likely to find what they are looking for here. Thus I would think instead of 25 there might be 12 or less.

The succesful day traders I've known specialized in a particular niche, and were almost religious about knowing where they made money and where they didn't. They were almost exclusively pit traders, but also a moneyed guy in Singapore who made his living from a home office and pursued strategies that would stretch most people's definition of 'day trading.' They wouldn't have given ET the time of day.
 
Quote from mike007:

"So what are the chances of you going on a date with me?

A million to one.

So your saying there's a chance...."
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"Hey! What was that one in a million talk all about?!"
 
Quote from ElCubano:

and out of the 25 , 10 would be the same person with different aliases.....we know who that is :D
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and 10 of the remainder would be the blue-sky entity known as stock_trad3r
 
Quote from crgarcia:

Not surprising.
Daytrading only works if you can frontrun your large customers orders.

Now I'm only a long term value investor.
More...

LOL it is so true.
 
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