Day Trading Is A Dead End Job

[Dalmation]

Quote from Mav88:

Dalmation,

Do you realize how many restaurants there are out there? Being the best means being on top of thousands of others. If you think it so easy then you need to stop trolling here and go make your fortune.

Your oversimplified and delusional sweeping generalizations tells me you don't have the analytical and reality based mind that can handle most anything requiring independent thinking.

Why would anyone listen to you, but more interesting, why do you feel the need to offer up your sagely advice?

How many Wharton MBA's run restaurants in your town? I would venture zero. If one did, that person would be the smartest ( in business knowledge and likely capital access) than anyone in that market area. It's really not hard to understand.

 

[Fireplace]

Money managers are NOT clipping in and out intra-day, everyday in the same contracts or stocks trying to catch smaller movements. That is my edge, taking many little intra-day turning points. Do you even know how fast you can compound your account when you have a very accurate methodology and you get 4-10 signals on average per day?

Not to mention the fact that I size up in both ES and SPY with no issue.

Day trading an independent account is a different business model than managing clients money.

Quote from Dalmation:

Huh? I just read that post. You started with 25k? You double your capital every year for 10 years with no down years? You beat every money manager on earth? No other way could you make decent income on that capital without doubling plus yearly not spendingand not losing. How did you live without other income?

Remember you are not dealing with mathematically ignorant on this site.

 

[Mav88]

How many Wharton MBA's run restaurants in your town? I would venture zero. If one did, that person would be the smartest ( in business knowledge and likely capital access) than anyone in that market area. It's really not hard to understand.

Except you didn't say that, you said

In a business you can easily be the most creative and smartest guy in your business. You can easily dominate your niche

So now you even contradict yourself, or you are saying getting a Wharton MBA is easy... give it up

 

[jo0477]

Quote from Dalmation:

How many Wharton MBA's run restaurants in your town? I would venture zero. If one did, that person would be the smartest ( in business knowledge and likely capital access) than anyone in that market area. It's really not hard to understand.

Why wouldn't a Whaton MBA want to own a reataurant if they enjoyed the restaurant biz? Even as a side project? There's undoubtedly plenty of dollars to be made. When I was an estimator, I worked on a 15 million dollar ocean-front mansion in North Vancouver... guess what business that guy was in and he just happened to have an MBA from a fairly prestigious school to boot.

Edit: Just to clarify, I wouldn't expect that many Wharton grads are dying to become restauranteurs. However, you never know what path life will lead you down.

 

[bears21]

Quote from NY_HOOD:

daytrading is GAMBLING and it is an addiction but it does'nt appear that way. it fools you into thinking: "this is wall street", i'm a trader who is disciplined and takes calculated risks in the market"..its gambling pure and simple.
are you telling yourself:
1) if i only stuck to my discipline,i would not have taken the loss.
2) i am actually glad i lost alot of money,thats exactly the shot in the arm i needed in order to learn a lesson. how many shots in the arm and how many lessons do you need !!!
3)every business owner loses money at the start,thats normal..really!!! business owners don't invest on margin.
4) i need to just focus more,i am so close to perfecting my edge..pretty soon everything is going to click..it NEVER DOES !
5) it takes years of experience to be a good trader, just like anything else..REALLY ! tell me an engineer,a a hair stylist, a salesman,a librarian, a doctor,or a teacher that loses money the first few years of their careers.
6) this is the worst:: i am going to get a home equity and start from scratch with enough money in my account that i will have more of a cushion.
GET A REGULAR JOB, START A BUSINESS. anything but day trading and please do not tweek your style and start claiming to be a long term trader. the road ends the same way.

For us to live any other way was nuts. Uh, to us, those goody-good people who worked shitty jobs for bum paychecks and took the subway to work every day, and worried about their bills, were dead. I mean they were suckers. They had no balls. If we wanted something we just took it.

 

[etile]

Quote from jo0477:

Why wouldn't a Whaton MBA want to own a reataurant if they enjoyed the restaurant biz? Even as a side project? There's undoubtedly plenty of dollars to be made. When I was an estimator, I worked on a 15 million dollar ocean-front mansion in North Vancouver... guess what business that guy was in and he just happened to have an MBA from a fairly prestigious school to boot.

Edit: Just to clarify, I wouldn't expect that many Wharton grads are dying to become restauranteurs. However, you never know what path life will lead you down.

how was the view?

 

[jo0477]

Quote from bears21:

For us to live any other way was nuts. Uh, to us, those goody-good people who worked shitty jobs for bum paychecks and took the subway to work every day, and worried about their bills, were dead. I mean they were suckers. They had no balls. If we wanted something we just took it.

Lol, love the reference!

 

[jo0477]

Quote from etile:

how was the view?

Haha, a lot nicer than mine, but then again, I don't own any restaurants either - coincidence??

 

[jd7419]

Quote from NY_HOOD:

daytrading is GAMBLING and it is an addiction but it does'nt appear that way. it fools you into thinking: "this is wall street", i'm a trader who is disciplined and takes calculated risks in the market"..its gambling pure and simple.
are you telling yourself:
1) if i only stuck to my discipline,i would not have taken the loss.
2) i am actually glad i lost alot of money,thats exactly the shot in the arm i needed in order to learn a lesson. how many shots in the arm and how many lessons do you need !!!
3)every business owner loses money at the start,thats normal..really!!! business owners don't invest on margin.
4) i need to just focus more,i am so close to perfecting my edge..pretty soon everything is going to click..it NEVER DOES !
5) it takes years of experience to be a good trader, just like anything else..REALLY ! tell me an engineer,a a hair stylist, a salesman,a librarian, a doctor,or a teacher that loses money the first few years of their careers.
6) this is the worst:: i am going to get a home equity and start from scratch with enough money in my account that i will have more of a cushion.
GET A REGULAR JOB, START A BUSINESS. anything but day trading and please do not tweek your style and start claiming to be a long term trader. the road ends the same way.

How old are you, how long you been trading, have you ever been succesful? Do you trade in a prop shop and see succesful traders? If so does this piss you off, its ok to fail at this game you will find something to do. Please like others have asked share your story, tell us why you failed.

 

[jo0477]

Quote from Dalmation:

This post is the epitome of delusional thinking. Gamblers have passion and persistance and humility--- these things have nothng to do with success but every single person who ruined their life trading has those atributes. Trading is nothing like another business--- those with passion are most apt to fail cause they keep coming back for more despite the continued failure.

Succesful trading is possible, it just has nothing to do with the traditional attributes of success in anything else. When I see these attributes listed as those needed for tradign success I cringe and know I am dealing with a vendor or a succesful lucky person in trading who has completely misunderfstood the reasons for their success, or someone who remains deluded.

@ Dalmation

I'm curious about your story too? Why waste your valuable time trading and/or posting in a trading thread when you could "easily" be out crushing the competition in the business of your choice?