Day Trading is a pipedream.

Quote from guy990opl:


AND...most Day Traders tend to ignore the word: CONSISTENCY.

If one starts day trading and one gets a lucky week/month does that make him a good day trader ? After all his profitability was positive per DAY.

In addition to all of the above don't forget how it is much harder for day traders when it comes to psycology.

You and most people assume that I say what I said because I am a failed trader, no no no, I am a failed DAY trader, as a matter of fact I didn't even try to day trade. BUT...I have been trading full time for 5 years and AGAIN in 5 years I NEVER met a succesful day trader.

If you meet them and they are all around maybe I live in the wrong city.
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English is not your first language. Then you should be very careful when you make a post with some bold statements.

What you said:


Day Trading is a pipedream.

Just wanted to write that, in case anyone has any doubts.

Never met a day trader who can make money consistently...there must be a reason.
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Just in case anyone has any doubts.

Like you are the authority figure in the field of day trading now?

You haven't met a day trader who can make money consistently. There must be a reason. You led the readers to draw a conclusion to agree with you something in the line of "consistently money making day traders don't exist".

Really? How many day traders have you met? One. Or two? How many have you interviewed to prepare your thesis?

This is completely garbage.

If you don't have any convincing data to support your argument, you better not make some bold and generalized statements. Because you are, inadvertently, offending those successful and consistent day traders. I only day trade for the past 8 years, and have been trading full-time for a living for close to 4. Is this consistent enough for you? Is this long term enough for you?

If you want to share some thoughts, share.

If you want to ask questions, ask.

Making these one-liner conclusions with no substantiation based on narrow view are freak'in wasting everybody's time.
 
Ok my grammar and the way I stated it was not good, but everyone else here was like...

" you are a failed trader/blew up, shut up" or " it takes a lot of passion blah blah" or

"look at this picture, are so you blind that you can not see the day traders." ? ( picture showing people working for a firm, not for themselves )

Other people were like " click on this link, here is a real day trader" and sure enough in both links someone was selling a newsletter. Now you are smart enough to know that if one can day trade and do it well one does not need to sell any products.

In your post you state that you have been successful, but you don't back it up THE SAME way I did not back up what I wrote. Is it complete garbage what you write as well ?

The vast majority of day traders fail. Is that my personal opinion or is it a fact ?

I have no reasons to doubt that you are a good day trader, but you are not the norm you are the exception,

...while everyone else gets annoyed by this thread because deep inside most retail day traders know that they are NOT the exception.

For them day trading IS a pipedream no need to get pissy.

Instead of being mad at me, they should point the finger at the person they see in the mirror !
 
I get kind of tired of hearing the "90+% of daytraders fail". Well it's not like outside of trading success is rampant. Rather I'd say most people settle in life and outside of a very small percentage success is just as elusive no matter what the pursuit. But no matter how green and naive, or sophisticated and talented the trader at least they have the balls to try. I always want to be on the side of the guy who has the nuts to take action and change his life.
 
This is one more exaple of the typical retail trader...delusion is rampant !



Quote from konviction:

I think the reason most traders fail is not because they are day traders or not, or because they dont have a trading plan, an edge, or any of that...

The reason I think most fail is because they're not passionate about Trading or the Market in general. There in it for the money, and as most other entrepreneurs would tell you, going in business for the money isnt the way to go [...]
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Quote from guy990opl:

"look at this picture, are so you blind that you can not see the day traders." ? ( picture showing people working for a firm, not for themselves )
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You idiot!! That is their prop floor. Every single one of those people in the picture is trading THEIR own accounts.

I can't be arsed to argue with you. Contact the Pro trader Services (http://www.marexfinancial.com/pro_trader.html) and pose as Professional Trader and take a tour/ask them if day trading is a pipe dream.
 
Quote from guy990opl:


.....
In your post you state that you have been successful, but you don't back it up THE SAME way I did not back up what I wrote. Is it complete garbage what you write as well ?

The vast majority of day traders fail. Is that my personal opinion or is it a fact ?
.....
For them day trading IS a pipedream no need to get pissy.
.....
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The issue is: people make generalized statements with no qualifier. It's one thing to say: Daytrading is very hard, or I doubt that there are very many successful daytraders out there, or most who attempted daytrading failed, myself included.

Take a look at what "crgarcia" posted. Most of what he/she posted are one-liner, generalized garbage statements along the theme of "There is no profitable daytrader". No explanation. No substantiation. One sentence verdict. And he/she keeps posting a new thread on this theme every 2 months or so from what I observed since joining this board more than a year ago. When I saw your opening remarks, that's what reminded me of.

The majority of day traders fail? Yes I believe it too. As much as I believe that the majority of the people who tried to be a heart surgeon failed. Or a lawyer. Or a fighter pilot. But I wouldn't go out and post and come to the conclusion: "I have never met a fighter pilot. There must be a reason. Flying a fighter plane is a pipedream. In case there is any doubt."
 
Maybe the (miserable) idiot is you. The picture shows many people in front of the screen, but it does not states that how many of them are day traders...some of them might be brokers, no one knows. Maybe they are all traders but they trade a variety of markets. Are you saying that they are ALL day traders ?

What about you...if you are such a good day trader by now you should have joined that firm, are you in the picture as well ?





Quote from Halal Burger:

You idiot!! That is their prop floor. Every single one of those people in the picture is trading THEIR own accounts.

I can't be arsed to argue with you. Contact the Pro trader Services (http://www.marexfinancial.com/pro_trader.html) and pose as Professional Trader and take a tour/ask them if day trading is a pipe dream.
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To be a surgeon or a lawyer or a fighter pilot one must go trough many years of school and at the end one is given a Bachelor Degree. Go to any hospital you will meet a doctor, and in many offices you will meet a lawyer.

It is easier than the failed fighter pilot, lawyer and doctor gives it a try at day trading than the other way around.

Anyone with 0 qualifications, an internet connection, a brokerage account and some money to blow can call himself a day trader. In case there is any doubt.


Quote from Bolimomo:

The issue is: people make generalized statements with no qualifier. It's one thing to say: Daytrading is very hard, or I doubt that there are very many successful daytraders out there, or most who attempted daytrading failed, myself included.

[...]

The majority of day traders fail? Yes I believe it too. As much as I believe that the majority of the people who tried to be a heart surgeon failed. Or a lawyer. Or a fighter pilot. But I wouldn't go out and post and come to the conclusion: "I have never met a fighter pilot. There must be a reason. Flying a fighter plane is a pipedream. In case there is any doubt."
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After a few weeks in Thailand and many-many delicious Thai meals I have never met a Thai chef. Does this mean Thai chefs don't exist?
 
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