Day trading for a living - Almost impossible

Pfffft.....please ....

Every trading youtuber prints free momey daytrading.

One turned $500 to $5 million and they only started a hand ful of yrs ago.

Come on....just sign up to one of their discord services and you to can mint money just like them.....
 
Almost all the traders in the trading hub are day traders.
I used to trade in there.
Now I day trade at home.

The trading hub is still a popular place for day traders.


Anyway, if you think trading for a living is almost impossible,
do not trade.
Do not force yourself to be a day trader.
Be a surgeon, hitman, wrestler, cleaner, soldier, scientist,
engineer, scammer .... be anything other than a trader.
 
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Do not be foolish.

Not all things are possible.
So don't do the impossible.
 
He likely has an agenda. Day trading goes on everyday, every session, most every market. If a day trader can’t make $$$ it is because he is not yet good enough. It is not because day trading doesn’t work or can’t be profitable. Makes one wonder if he tried his hand at it and couldn’t every make it work for him so he may be biased.

Ever heard the saying “lies, damn lies, and statistics?” Stats are very often used to bolster weak positions or weak arguments and to spread or to create misinformation.
 
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Drawdown Addict said:
I never tried day trading. In case you are wondering that I am a loser at that. I am just not a gambler.
More...

In terms of gambling, day trading is not that much different from other types of trading.

If you want to gamble, or trade with no edge, then swing trading is just as much gambling as day trading.

You just pay way more in fees to your broker and the exchange when day trading. And turn over your account faster.

But the end result will be the same regardless of trading type, if you have no edge you will eventually lose. Just faster by day trading.
 
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maxinger said:
Almost all the traders in the trading hub are day traders.
I used to trade in there.
Now I day trade at home.

The trading hub is still a popular place for day traders.


Anyway, if you think trading for a living is almost impossible,
do not trade.
Do not force yourself to be a day trader.
Be a surgeon, hitman, wrestler, cleaner, soldier, scientist,
engineer, scammer .... be anything other than a trader.
More...
Where is the trading hub?
 
Drawdown Addict said:
This content is all well known. I am just opening this thread for any newcomer to the forum that might want to get into gambling their money.

You can litter this thread as much as you are used to, I won't reply to it.

https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3423101
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=529063
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The second paper says: "There are thousands of occasional day traders, but in the average year 277,000 individuals engage in day trades in excess of $NT 600,000 per year (about $US 20,000) 2 and about 20% of these day traders earn positive abnormal returns net of fees (commissions and transaction taxes). Of course, some outperformance would be expected by sheer luck."

That statistic is actually very comforting for "any newcomer" but I don't expect you to actually read the papers you cite. That would require you not to be lazy. :cool:

But regardless, both papers are irrelevant to the topic of daytrading for a living.

You can't just analyze all daytraders as a sample, because very few people just randomly quit their day job to start "day trading for a living" unless they have already shown some profitability.

What you need is a paper which has a sample of those who: 1. originally had a day job, 2. had x years of profitability 3. then quit their job 4. track their returns for Y years.

No paper has that because that data does not exist.

Drawdown Addict said:
You can litter this thread as much as you are used to, I won't reply to it.
More...

Good, please don't reply. This pointless thread needs to die immediately.
 
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