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Consistently Profitable Day Traders
- Thread starter Norm
- Start date
Sound like Monty Python to me:Quote from yenzen:
jeez, this is like sitting in bar with a bunch of drunks where one story is more outrageous than last.
House? You were lucky to have a HOUSE! We used to live in one room, all hundred and twenty-six of us, no furniture. Half the floor was missing; we were all huddled together in one corner for fear of FALLING!
You were lucky to have a ROOM! *We* used to have to live in a corridor!
Ohhhh we used to DREAM of livin' in a corridor! Woulda' been a palace to us. We used to live in an old water tank on a rubbish tip. We got woken up every morning by having a load of rotting fish dumped all over us! House!? Hmph.
http://www.serve.com/bonzai/monty/classics/TheWeAreSoPoorSketch
I have you beat. I make about 1000% a year for the past 20 years. I would be the richest person in the world if I didn't spend all my profits at the strip club each night.....Quote from Anseld:
I haven't lost a trade since 1984.
I average 9% returns per month. sometimes, 15%, and when I have a stinker, it's only about 5%.
If you guys don't get those kind of returns, I feel sorry. why are you even trading?
Quote from Turok:
Spec, I know to Eric it doesn't matter what you think, but just to throw my 2cents in, I have significant personal experience with Eric and you're just plain wrong on this one (though I don't disrespect your skepticism).
JB
Turok/Dustin/DHOHHI/others,
I appreciate your support during my absense from ET while at the Expo in NYC. Just a few comments in reply, then I'll let others have the last word on this one:
1) Turok is correct. I really don't care what others think of my results. My interests on ET as well as for many years on SI was to help others, and hopefully, learn a little myself in the process.
2) I would agree with the skepticism regarding vendors in general, and Pristine specifically. I was associated with them for less than 12 months between mid 1999 and early 2000, before I had been around long enough to understand their business ethics. During that time, they were buying a stock market software package created by my company, and once they reneged on our signed agreement, I have had no association with them since.
3) That said, everything I have posted about my results are 100% accurate. I specifically avoided posting dollar figures, as that would certainly bring out the naysayers, but I see that the ET 'truth squad' is having trouble with believing the results even without dollar figures. I don't mind, either way. Serge at Genesis can certainly vouch for my results, if anyone really has a burning desire to smoke out the facts.
Personally, I have to agree that many of the claims on ET are greatly inflated, or even completely fabricated. However, I'm sure many of them are 100% true, and some of the others may be intended to be sarcastic jokes.
Anyway, best of luck to all and happy trading.
-Eric
This is too long of a thread to read so I apologize if this has been said. Consistently successful daytraders are more myth than reality. If there were big profits to be made from zigging in and out of stocks intraday, the hedge funds would be playing that niche. Instead, they would kill to be making 20% per annum each year doing anything. The edges are evaporating so much in hedgefund land that many of the larger ones are now going to buy and hold mode in select stocks.
You would think the daytrade firms would have at least a few consistently successful traders who would be willing to produce a multi-year real money trading record of success. Real money trading statements are the best way to market any type of trading related product.
You would think the daytrade firms would have at least a few consistently successful traders who would be willing to produce a multi-year real money trading record of success. Real money trading statements are the best way to market any type of trading related product.
Quote from Reality trader:
You would think the daytrade firms would have at least a few consistently successful traders who would be willing to produce a multi-year real money trading record of success. Real money trading statements are the best way to market any type of trading related product.
That's absurd...a brokerage would never show statements or release hard figures of their customers profits. Also, hedge funds are too big for this game. Today I made $2800 which was a good day for me...a hedge fund could care less about $3k. There's good money to be made, but it's about slow and steady profits for most of us who have been around a while.
Quote from Reality trader:
This is too long of a thread to read so I apologize if this has been said. Consistently successful daytraders are more myth than reality. If there were big profits to be made from zigging in and out of stocks intraday, the hedge funds would be playing that niche. Instead, they would kill to be making 20% per annum each year doing anything. The edges are evaporating so much in hedgefund land that many of the larger ones are now going to buy and hold mode in select stocks.
You would think the daytrade firms would have at least a few consistently successful traders who would be willing to produce a multi-year real money trading record of success. Real money trading statements are the best way to market any type of trading related product.
And you call yourself reality trader?
Hedge funds have been working that niche, for decades. Day trading has been around since BEFORE the 1990s. If you open and close multiple positions in a day, you are a daytrader. Hence floor traders & other speculators have been day trading for a long long time. 100 years, easily. Even during the tulip mania, there was daytrading in options.
As for your second paragraph, are you seeking justification for your own inability to prove to yourself that it is possible? Why should anyone truly profitable post anything for you? They do not care. You want proof, go check out P&Ls daily at a solid group within a prop firm. Not a chop shop scam where they churn newbies for commissions but a real group of real traders that produce. I look at our group's P&Ls everyday and find that a few scalpers are consistently net positive and by a significant amount.