Consistently Profitable Day Traders
- Thread starter Norm
- Start date
Quote from Longhorns:
So basically, anything less than a billion isn't "real money"?
In this context yes, sheesh people it's not a hard concept to grasp here.
I am just saying that Daytrading RICHES are a myth compared to other styles, vehicles and methods of Trading.
The public perceptions are not about traders making $150-200 k per year when it comes to this and in my opinion that's what it realistically should be.
Ok good day to you all please don't respond to my posts on this anymore I've made my point and I'm entitled to my opinions based on my experiences with it.
What would constitute a response? Does it have to be substantive, or could I just say, YO MAMA!?
Most people go through life and never accumulate the 3 to 5 million dollars that you refer to as schmuck or moron money. This amount of money may or may not be meaningful to you. Regardless, it is not a reason to condescend because I assure you that it does not impress.
You are, in effect, calling just about everyone here a schmuck and a moron. Try not to be too surprised at a cool reception. In the meantime, while you relax in between your position trades, may I suggest that you add the following item to your reading list?
http://www.amazon.com/exec/obidos/t...104-6158588-2440739?v=glance&s=books&n=507846
there is no reason to believe him anyway. Afterall, how many multi millionaires are so obsessed with recovering a small amount of money on the trading systems they bought and/or even facing possible litigation for violation of agreements. Oh, and lets not forget the computer he was trying to sell as well.
Mr. Zen
Daytrading is a career, an occupation. It's not about "riches". Those who trade full time tradeoff risk with the rewards. To take unnecessary risk to try for constant "home runs" (and the apparent "riches") is foolish trading. I prefer singles and the occasional extra base hit.
How many engineers, accountants, software developers, etc. are reaping "riches" from their respective careers?
Are these percentages measured out of "people still alive at that age" (i.e. ignoring those who are not) or "the whole of society" (in which case there must be a small group defined as "already deceased" or something similar?)
opinion you can find the best most consistent edges over short durations of time.
On the minus side, if u have no edge it is harder to "get lucky" because u have more cost and you are less likely to hit a blue moon trade that will "make" you, which is the reality of many traders "success".
Making 150k a year is ok but, a day trader has potential to make 10,20,30,40,50+ times that amount.
It really depends on how good you are and the size of your cahones more than anything else. Little cahones, little reward.
On the minus side, if u have no edge it is harder to "get lucky" because u have more cost and you are less likely to hit a blue moon trade that will "make" you, which is the reality of many traders "success".
Making 150k a year is ok but, a day trader has potential to make 10,20,30,40,50+ times that amount.
It really depends on how good you are and the size of your cahones more than anything else. Little cahones, little reward.