Can we talk about day trading?

[schizo]

The stupid part was losing it...

And the reason for why he (or his algo) is trading better now. Those stupid mistakes are tuition.

 

[traderjoe200]

I think for most it is a passing fascination:

1) I can make easy money.
2) Look how easy it is to buy and sell.
3) I can make xxx PER DAY.

turns into

1) This is a lot of work day in and day out.
2) Buying and selling is too easy, but when to buy and sell is not so easy.
3) I can only lose XXXX per day.

It reminds me of the Weed-Marijuana business. Everyone thinks, after taking a big hit, it is easy money, but don't take into account the skills and infrastructure requirements. They just think of the things the understand: Smoking, buying and selling*.

Day trading is a business. Treat it as anything else and your business will fail within 1-2 years, usually from capital drains. You have to learn all the things you DON'T understand, not just tweak the things you do understand.

*FWIW: Can you imagine trying to cut complex business deals with people who are chronically high?

well said

 

[Fiotrader]

No Shit Sherlock.
Pressing buttons is hard.
Especially if you have real fat fingers.

I bought weight fingers dumbbells,
Now they’re getting skinnier and stronger.

Maybe you should try some.

Real trading requires a certain level of concentration and oftenly in order to close a trade on time, mistakes are done. Buddy! you should also try some real trading soon.

 

[SunTrader]

Swedish bot for a change.

 

[alistera]

Anyone care to spin the bottle?

Why not, 3-5trades per days, on 1sc and 10sc charts, 20pips per trade, with ~100% optimal entry, via 500:1 leverage, the numbers are spectacular.

The problem is the markets will not always hit target and invert 200-500%, you need some unique trade management processes, algos provide the entry guide but it's what happens next that counts.