Can you keep sanity day trading?

[SimpleMeLike]

I would say that if it's easy for someone, it means they are doing it the wrong way, imho.

qlai,

I respect your opinion.

What is challenging and complex to you, could be easy and simple to someone else. You or I do not know how many XXX, XXX million other traders out there think of the trading. Some traders think it is easy, some traders think it is challenging. I will believe trading is challenging and hard when a statics study is done interviewing every day trader clicking a mouse today on the DOM today. Otherwise, that article is just a bunch of playing around stuff.

 

[slugar]

I think if someone asks this kind of question, that is the only appropriate honest response. I would say that if it's easy for someone, it means they are doing it the wrong way, imho. The only exception may be someone who found a great mentor early (or a relative in the business). Still, it is very hard way to make easy money and most people would be better off chasing other opportunities.

I'm not sure why doing it the wrong way would make it easy, I think doing it the right way would be easier than doing it the wrong way, there are many ways to make money in the market and what's the right way for you may be the wrong way for someone else!

 

[SimpleMeLike]

It'd be far more convincing if he had a record of trading for five years or more with consistency without having to be an "educator"/vendor.

slvrrisc,

I agree, show me the money consistently.

 

[qlai]

I'm not sure why doing it the wrong way would make it easy, I think doing it the right way would be easier

What I meant by that is that many people start trading as a hobby. They take some play money they are not afraid to loose. Often this results in big wins because they don't care about draw downs and/or money management. I think that is also the reason many consider paper trading useless. But if you make proper requirements for yourself like max DD/exposure, max risk per trade, R:R, and consistency ... it becomes much much harder no matter the style ... Real or paper.

 

[monee]

The closest analog there is to trading for a living is starting a small business, odds are you will not make it and you will lose all your capital. The biggest difference between holding a day job and running your own small business/trading for a living is certainty. With a day job you have certainty of income, yes the job could be mundane and it might even be a dead end job but its regular income and that provides stability to a person's life, its incredibly damaging to your mental health to wake up everyday not knowing where your next meal is going to come from, or if you will be able to make rent this month.

This is why I've always said that the ones who are least likely to succeed are the ones who are undercapitalised i.e the ones who need to make x dollars every day/week/month from trading to survive. You have no business doing this (trading for a living) if you can't build your stack at your own pace.

This last paragraph is a true pearl of wisdom!

 

[Mnewton]

He is definitely nuts. You only need to trade 4 or 5 trades from 10.30 to 12.
Min 1000 shares and make 30 cents for $300 , do that 3 times make sometimes more and sometimes less, for $1000 a day and you are home free.