Day Trading is a pipedream.

[guy990opl]

+1

 

[tradin4profits]

Just because you cant do it doesn't mean others cant. But thanks for posting your resume!

 

[Grandluxe]

Quote from Lights:

Daytrading was golden from 1997-2008, it lasted for about 10 years until terminator took over. There are still opportunities in daytrading but if one finds himself putting on a trade every single day, the odds are now seriously against you.

+100000000

Very difficult to do scalps anymore. The way "daytrading" is done now is to hold for much longer periods, gone are the days where a position held for 2 minutes was considered long. Personally I used to execute about 900-1200 trades a day, now.....5-10.

 

[Grandluxe]

Quote from murray t turtle:

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7-plus-yearLights;

I am not sure the odds were ever that good for daytrading, trading or investing on any timeframe.LOL

Highest probability is not all will believe this also.
If ones nickname or personality is like a turtle. Perhaps the multimonth charts in Market Makers Edge book may help.

One can still find some'' golden '' trends[2011,2012...;]
but frankly i never had the location, location, location or personality for high frequency trading.

A lot of order execution algos in the wake of the financial crisis and the Obamanation have disappeared, especially in certain spaces where it was easy to read or even manipulate them based on L2. Will they be back? I hope so.

 

[trhudson]

Quote from guy990opl:

Now you are talking ! So they want to turn a small/er account into a big one and on top of that they want to predict the next market move up or down, not to mention that the ego always stands in the way. In other words their need to be "right" is often bigger then their need to make money. That's why the failure rate is so high.

I personally don't think of trading as predicting anything. I developed my own methodology based on math / probabilities / statistics and the trades are not based on technical analysis.

I KNOW that being able to DEFINE the RISK of the TRADE at ENTRY is an extremely valuable asset to the methodology. This is because ALL of my research shows that risking the same amount of capital per trade reduces drawdowns as well as smoothing out the PNL curve.