Day trading article on nytimes.com

WATCH MY SCREEN . REPEAT AFTER ME. first i get long . then you morons buy and i dump it on you.

beatiful game and paying for it. what a service. worth $ to pay for. good luck . see you on the street in a box.
 
Quote from Dustin:

07-08 there was money falling off the trees, from the sky, and growing from the ground. All you had to do was walk around and pick it up. I'm still most interested to see how they did then.

Many of us from 99-00 didn't fare nearly as well back then, in part because most of us had only been at it a few years. That said, I sure would love to repeat the late 90's with the experience under my belt.
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I was trading FT from 04-07. Sounds like I made a mistake by going back to grad school and missing out on 07-08. =(

I have no doubt that if I traded from 98-00, that I would be a millionaire now.
 
This article clearly displayes the myth of daytrading for a living.

These guys have been trading 10 years and make 100k a year. You can make more being an attorney and doctor with much lower fail rates.

These guys sell a chat room for $200 a month. If they get 50 subscribers they can get $100k of income. 100 subscribers is $200k more income, etc. yet they lost money this month.

These guys blame robots for worser daytrading environment, with no proof. They say they use intuition to trade. lmao.:p hello, look at the monthly charts. This is the most movement a market can even get in 2-3 years.

And very important, daytrading is only possible between 9:30 and 4 pm, 4-5 days a week. On a regular job you can make extra money with overtime and working on saturdays.

Do you get now that daytrading for a living is a bunch of crap.
 
Quote from failed_trad3r:

Do you get now that daytrading for a living is a bunch of crap.
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i wish someone had told me this before i started daytrading for a living...

10+ years ago. *cough cough*

dustin - i was fortunate to start my little nest egg in the late 90s, and solely because of the bull. trading @my workplace, i would do all kinds of somewhat silly things that were uniquely working, like buying call options in advance of cup-and-handle setups breaking up, or buying calls AFTER the stock had good news, or "if the stock goes up 10 points, get it EOD for overnight gap up". i did some puts in there as well. when i moved to daytrading, i didn't know what i was doing, and managed to avoid losing money for a while, but never had any huge gains that were associated with the time period.

i guess i'll have to be alive when the next big frothy period comes along...
 
Quote from stock777:

4 posts. Hmmmm, let me guess, this is one of maybe 25 nicks that you have on ET.

And if arrogant prick is the best you can do , try harder.
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Only 1 nick. Just pointing out that there are better ways to treat people. Are you going short at 1,230 like the chart you champion around says? The market looks like its getting there.
 
Quote from failed_trad3r:

This article clearly displayes the myth of daytrading for a living.

These guys have been trading 10 years and make 100k a year. You can make more being an attorney and doctor with much lower fail rates.
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So which are you - attorney or doctor?
 
This thread is proof that everyone hates a winner. The guys makes 100K plus trading, plus fees from his site. He's at the point now where he could stop trading and mentor if he wanted too.

Only a handfull of guys here make 100K a year consistantly, much less have 100K in their account. These guys are the real 3 to 5% club that everyone wants to be in.
 
Quote from konviction:

This thread is proof that everyone hates a winner. The guys makes 100K plus trading, plus fees from his site. He's at the point now where he could stop trading and mentor if he wanted too.

Only a handfull of guys here make 100K a year consistantly, much less have 100K in their account. These guys are the real 3 to 5% club that everyone wants to be in.
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Shirley you jest.

It would serve you well if you read more carefully and more importantly think a bit more critically about what your senses take in.

The writer does four things in the article: (1) gives first hand accounts of what he witnessed; (2) gives his opinion on various things; (3) relays what is told to him as facts by the subjects; and (4) relays the opinions of the subjects.

Now put the things you got from the article from which you drew your conclusions into (1)-(4).

Here is what falls into (1): the guy made $60 bucks net in the morning and was "up" $165 at the end of the day but paid $300 commissions. The writer doesn't complete the math so you'll have to do that. The guy runs a chatroom with about 20 people logged in and charges about $200 per month.

Here is what falls into (3): for the last 10 years, he averaged between $100K to $120K per year. He has $80K to $100K in his account.

Unfortunately for you, that's about as far as you can go with the article. Your limited knowledge of daytrading prevents you from coming to a useful conclusion about such a performance relative to others who are successful.

Unlike you, there are people who read that article who are more interested in the portrayal of daytraders to the public than about the specific claims of the traders themselves. That's another issue entirely.
 
Quote from sprinter:

let's talk the truth about 100k year traders. Truth I'd they are taxxed at 36percent making the 100k 64k. Then there is data fees office etc. If you only make 100k year this biz is a waste. Not to mention you will not make 100k year for years on end. Markets and edges change all the time. One year your method works. The next year it doesn't. Not to even mention supporting a family or ex spouse. Hang it up. Get a job

100k a year is chump change folks. If you think it's anything diferent. You are in the wrong biz
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LOL, ok bigshot, you're right. Post your past 10 years of year-end results. If you're over $1 mil like this guy is (according to the article), great. If not, STFU. That's what I thought.
 
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