Day trading difficulties

[icarus618]

Once you get past the hyperbole in that article it does reveal a truth: in a month there are a few days when the market offers "free money." Of course, free money is only one side of the coin and the opposite side is "sure loss." There cannot be one without the other.

 

[Kurgan]

Adjust yourself to the timeframe you trade nsync, and trade the pattern.

 

[007Arb]

Quote from oilfxpro:

This article sums up why day trading is difficult.

http://www.rb-trading.com/article10.html

Since my name was referenced in the enclosed article some may find it interesting that I haven't daytraded since the 90s. And of my total profits over the years, less than 4% came from daytrading. I guess the moral here is we evolve as traders as our account size compounds over time. I have made more money trading various bond funds in the 2000s than I did in anything combined in the 80s and 90s. Certainly not on a percentage basis but on a dollar basis. Obviously as our account compounds over time, we need a smaller percentage return to generate a more than adequate dollar return.

 

[Visaria]

Quote from NoDoji:

This article sums up the author's opinion of why day trading is difficult. It's full of opinion and void of facts, starting with the title "The Only Way To Day Trade".

There are many ways to day trade successfully; there's no only way to do it.

[/i]

Lol, i read the article and thought the exact same thing!

 

[oilfxpro]

Quote from NoDoji:



The irony that's easily found in this brief article is a delight for those who enjoy laughing their asses off:

"There are plenty of people out there ready to sell you a day trading course or system for thousands of dollars that will show you how to implement this fantasy. The only problem is they haven't been successful traders. They make money only by selling their losing methods to others."

"I have been day trading successfully for the past couple of years using a system that trades on average only two or three times a month. I have also recently published a second day trading system that trades only once or twice a month. These systems are available from our company."

That is exactly why I want to hire a two faced mentor!

These systems are available from our company.

 

[cornix]

Two possible reasons as everywhere:

1) Laziness.

2) Absence of personal traits requied.

 

[oilfxpro]

Quote from icarus618:

Once you get past the hyperbole in that article it does reveal a truth: in a month there are a few days when the market offers "free money." Of course, free money is only one side of the coin and the opposite side is "sure loss." There cannot be one without the other.

Day trading everyday can't be profitable , the market offers one or two good trading days every week , but if traders try to trade everyday , they will give profits back in the other days.

 

[cornix]

Quote from oilfxpro:

Day trading everyday can't be profitable , the market offers one or two good trading days every week , but if traders try to trade everyday , they will give profits back in the other days.

Agree, we must remember that our goal is not to trade as much as we can, but make profit.

 

[nakachalet]

Quote from oilfxpro:

Day trading everyday can't be profitable , the market offers one or two good trading days every week , but if traders try to trade everyday , they will give profits back in the other days.

----------------------
cornixforex

Agree, we must remember that our goal is not to trade as much as we can, but make profit.
-----------------------
๑ oilfxpro

๑cornixforex

you guys offered some interesting remarks on day trading that can't be profitable....

just wondering out loud, if you could show us the few profitable days in the weekly cycle that you picked and chose your trades.

we are mightily interested in seeing how you picked your trades each few days that you determined to be profitable and traded on them.

could you snap a pix of your actual live trades on your live trading screen to confirm your comments, pls?

only if you are willing to, OK?

and if you were reciting from somewhere that would be ok too, we understand and would accept your explanation as such, without further poking.

thx in advance.

nakachalet@gmail.com

 

[cornix]

Quote from nakachalet:

cornixforex

Agree, we must remember that our goal is not to trade as much as we can, but make profit.

๑ oilfxpro

๑cornixforex

you guys offered some interesting remarks on day trading that can't be profitable....

just wondering out loud, if you could show us the few profitable days in the weekly cycle that you picked and chose your trades.

we are mightily interested in seeing how you picked your trades each few days that you determined to be profitable and traded on them.

could you snap a pix of your actual live trades on your live trading screen to confirm your comments, pls?

only if you are willing to, OK?

and if you were reciting from somewhere that would be ok too, we understand and would accept your explanation as such, without further poking.

thx in advance.

nakachalet@gmail.com

Nakalachet,

You probably misunderstood me. I day trade myself and never said day trading can't be profitable. It sure is. The question was it's not like you sit at the screen and make money every day, of course it may well happen, but one better not have it as a necessary goal, cause we can't control market activity and volatility which provide the conditions for good trades. Sometimes the conditions are simply "not there" and we should not force ourselves to trade in such a time no matter what. Much wiser to wait for good conditions, even if it takes a few days sometimes.

I post my live track record here: http://www.myfxbook.com/members/cornix (almost 2 consecutive months of live trading, almost cause I took a break in mid-late August for serious personal reasons) and on Zulutrade (just search providers starting with "Cornix" there).

Guess it would be much what you request.

As for the swing trades, actually no difference with day trades, same principles, just longer time-horizon.