It is simply the administrators and/or moderators that provide these provocative one line threads....and it works...
Day Trading is a pipedream.
- Thread starter guy990opl
- Start date
It is simply the administrators and/or moderators that provide these provocative one line threads....and it works...
OP is right, because returns of MFs with 'Daily Dividend Reinvestment' plan are 0%
http://money.rediff.com/mutual-funds
http://money.rediff.com/mutual-funds
Isn't it funny how some "good" day traders insult, scream and get mad when they reply ? Why are they mad and is screaming louder or insulting make a better point ?
This is the same guy who insulted me as well. This is the same guy who wrote how one can take 5k to 50k how he knows of day traders who did this and many more can do it again.
He also wrote that most of the day traders ended up blowing up and losing the WHOLE business ( his words.)
If with little money one makes a bunch of money to lose it all...why bother ?
The only consitent pattern most day traders seem to have is their rage after blowing up their account.
my swearing or rage is exasperation at your lack of knowledge of this business when run successfully.
give 10 or 20 grand to any good daytrader and they will be able to increase it...yes to 50 grand, yes to 100 grand.
you seemed to have no knowledge of the difference between reasonable returns for investing (comparing to the major market averages) and income earned from active trading.
you made no mention of my arguments for your comparing apples to oranges when you made mention of a 10% return as something to strive for. thats a good passive return in the stock market over the past many decades.
you can subtract the profanity, but my points are solid. many daytraders will lose small amounts of money many times in order to LEARN to trade. blowing out a small account happens as part of the learning curve
ive done it, yes. but now I can take any amount like that and build it up. It took me 6 years to do it, and that's faster than most other traders I know, slower than some I know.
TRading, daytrading, is a skill. It's a skill like being a good tennis player is a skill. It took me 10 years from when I started tennis to earn a top 500 ranking. I consider myself successful for the 3 years after that that I played, traveled and lived that dream.
For me, taking 6 or 7 years to become profitable as a day trader is NOTHING compared to what it takes to become a professional in a sport. The odds are actually better, and it was easier for me.
Also, I believed I could trade to an advanced age. So getting proficient at trading has huge longevity payoffs.
So now that I removed the profanity, I still see no merit in your posts. Your points emit such a lack of real knowledge of true professional trading I honestly wish you would refrain from posting in any area regarding daytrading competence, reasonable expectations, what it takes to succeed or fail, primarily because you show a complete lack of acumen in all of these areas.
Do the rest of this board a huge service, add value by not saying anything for a while.
Daytrading is a legitimate business. It takes legitimate skill acquired over time. This time varies by individual but its not a get rich quick endeavor nor is the goal just to beat the s and p for most traders.
Most or all financially worthwhile professional take skill, involve opportunity costs of money otherwise earned, and some tuition or capital and time expenditure to realize proficiency.
Its quite clear from what I post that I know what I am talking about. I believe most profitable daytraders, or those who are very close to being consistent, would agree with most if not all of the things that I post regarding matriculation in this profession.
Quote from pairsarbtooo:
[...]
give 10 or 20 grand to any good daytrader and they will be able to increase it...yes to 50 grand, yes to 100 grand.
If he ends up blowing up like the traders you mentioned in your previous post, there is nothing special about it. Almost anyone is able to make a lot of money (with luck) and then blow it all up.
you seemed to have no knowledge of the difference between reasonable returns for investing (comparing to the major market averages) and income earned from active trading.
From 20k to 100k ? That is 400%. That, according to you is a "reasonable return."
If that is a fact here is the outlook for your next two years: from 20k to 100k (400%) and then from 100k to 400k (+400%) and if you ad the same return of 400% for the 3rd year your total will be 2 M !
Is that reasonable ? Is that reality or a distorted version of reality ?
you made no mention of my arguments for your comparing apples to oranges when you made mention of a 10% return as something to strive for. thats a good passive return in the stock market over the past many decades.
Are you talking about the 400k account ? If you are, most traders will be happy with a low risk and a 10% return instead of the possibility of losing the WHOLE 400k to strive for the 2 M.
[...]blowing out a small account happens as part of the learning curve
Most blow up a BIG account and the learning curve ends. Forever. No money = no trading.
It takes a lot of money to make little money. Part of the pipedream is to believe the opposite. Or are most people suckers for keeping their regular jobs and refusing to turn their small account into a big fortune ?
ive done it, yes. but now I can take any amount like that and build it up. It took me 6 years to do it [...]
I never met a day trader who can make money CONSISTENTLY a word obviously that does not exist in your vocabulary. If it consistency does exist in your day trading, you should be waaay over 2 Millions by now
Quote from guy990opl:
I never met a day trader who can make money CONSISTENTLY a word obviously that does not exist in your vocabulary. If it consistency does exist in your day trading, you should be waaay over 2 Millions by now
I have asked you before. I don't believe you have addressed the question. You kept emphasizing "Consistently".
In your mind, what is your definition of "consistently". It is a very simple, direct question. No need to beat around the bushes. How long do you think someone becomes profitable before you will accept him/her as consistent?
10 years?
30 years?
5, 7, 10 years or more. No one can be lucky for 10 years, but one could be for a few years.
If you can make 100% return with the risk to lose it all, go for it, but I tend to doubt you will be in the game for a long time. Making a lot of money to lose it all in the end, is nothing to brag about.
There is more...if one has 5k the pressure is less, maybe one is willing to lose it to make 10k. Now let's say one has 100k it is a totally different story.
That's where the pressure plus the consistency comes in. Part of day trading, correct me if I am wrong, is to predict where the market is going to go next. One can make his prediction with a discretionary o systematic approach, maybe a bit of both.
Your trade/prediction has to do well right away. Basically you go long because you think that briefly after you enter the trade, it will go up or short because briefly after you place your trade it should go down. Pretty arrogant, don't you think ?
Most people could make an accurate prediction, or several correct predictions, but for how long ?
Ideally the good trades outnumber the bad trades, but if the bad trades make you lose a big chunk or all your account, sounds like gambling.
If you can make 100% return with the risk to lose it all, go for it, but I tend to doubt you will be in the game for a long time. Making a lot of money to lose it all in the end, is nothing to brag about.
There is more...if one has 5k the pressure is less, maybe one is willing to lose it to make 10k. Now let's say one has 100k it is a totally different story.
That's where the pressure plus the consistency comes in. Part of day trading, correct me if I am wrong, is to predict where the market is going to go next. One can make his prediction with a discretionary o systematic approach, maybe a bit of both.
Your trade/prediction has to do well right away. Basically you go long because you think that briefly after you enter the trade, it will go up or short because briefly after you place your trade it should go down. Pretty arrogant, don't you think ?
Most people could make an accurate prediction, or several correct predictions, but for how long ?
Ideally the good trades outnumber the bad trades, but if the bad trades make you lose a big chunk or all your account, sounds like gambling.
Yes (*schss* dont tell anyone). I do love the daytraders, the scalpers, the noobs, the algos. They provide the liquidity then I want to take it, and they are there 10-15 days later then I want to unload my 3xETFs for a 20% profit.
I love every fucking joe coming through the doors of the big casino with their pocket full of cash and dollar signs in their eyes.
I love every fucking joe coming through the doors of the big casino with their pocket full of cash and dollar signs in their eyes.