I have day traded in the past but i ended up transitioning into swing trading because it fit my personality much better and I got much better results. Today i saw an interesting video from Anton Kreil, and an ex Goldman Sachs trader in that video stated that "anyone who tells you to trade intraday is either and idiot or a conman" It starts at 1:40 in the video. Any consistently profitable day traders here?
Day trading a suckers game?
- Thread starter BearTrades
- Start date
People have had a lot of smoke this past year for day trading. Why's that?
This title keep on popping up every few days.
For goodness sake, stop creating similar threads !!!
There are simply far too much garbage and nonsense in internet.
Soon people will say
Swing trading a suckers game
Long term investing a suckers game
Spread trading a suckers game
Swing trading a suckers game
High frequency trading a suckers game
automated trading a suckers game
Scalping a suckers game
If you see this ET forum, there are lots of people who don't know who
to day trade. There are also some who know how to day trade.
It doesn't mean if you do swing trading or
invest in fang stocks and hold for many decades,
you will earn tons of money very easily.
You need to know what is your niche, what suits you,
and spend thousands and thousands of hours to develop a workable trading
system for yourself.
For goodness sake, stop creating similar threads !!!
There are simply far too much garbage and nonsense in internet.
Soon people will say
Swing trading a suckers game
Long term investing a suckers game
Spread trading a suckers game
Swing trading a suckers game
High frequency trading a suckers game
automated trading a suckers game
Scalping a suckers game
If you see this ET forum, there are lots of people who don't know who
to day trade. There are also some who know how to day trade.
It doesn't mean if you do swing trading or
invest in fang stocks and hold for many decades,
you will earn tons of money very easily.
You need to know what is your niche, what suits you,
and spend thousands and thousands of hours to develop a workable trading
system for yourself.
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And then the trend reverses after a few days, and so while you are still trying to trade in the trend's direction, the trend has fully reversed and you get cold-cocked.
By the time you realize the trend has reversed, you start to trade the other way, thinking the trend has fully reversed. But it reverses on you again and you get cold-cocked twice.
You get whipsawed out of the market.
Tricky, I think it's beatable, but I cracked Stock Swing trading 20years ago, and still struggling 20years later with Intraday.
Upside potential is much higher with Day Trading but it's harder, which it shouldn't be, guess I was finding stock plays which would work for 1 - 3 days, so they had a fair bit of meat in them, where as daytrading YM you never get any guaranteed strength to lock onto, too damn changeable.
Upside potential is much higher with Day Trading but it's harder, which it shouldn't be, guess I was finding stock plays which would work for 1 - 3 days, so they had a fair bit of meat in them, where as daytrading YM you never get any guaranteed strength to lock onto, too damn changeable.
Try and predict direction somehow (is there a better way?)
Heiken Ashi daily bars green follows green 70% of the time.
Badly broken trendline signals to stop trading.
Massive support volume followed by good news reaction rally.
Fundamentals (tedious) Large cap prices take awhile to complete a move.
Cyclical stock round bottom support, far away from resistance begins long move up.
Maybe Anton isn't wrong.
A major problem with day trading is opportunity cost. With longer time horizons you can focus on other more consistent income producing activities during the day while managing your trades after hours. While Anton Kreil's educational products are likely overpriced and value is questionable, at least he sets reasonable expectations for aspiring traders rather than those selling the fantasy they can make a living day trading ES with a $50,000 account.