Day trading is losers game

[cornix]

Quote from oilfxpro:

Have you ever had posts examined by an independent third party for waffles and beans?

Here are the simple test results with several variations.Most trading against this test would be simple counter trend trading.

I never say "impossible" in any of my posts, if you noticed. Because no matter how I trade, I know different people can be profitable while trading very differently.

Your "test" is just something based on some limited parameters. How can it be a serious proof of whole "counter-trend trading" bunch of methods not having an edge?

 

[oilfxpro]

Quote from cornixforex:

I never say "impossible" in any of my posts, if you noticed. Because no matter how I trade, I know different people can be profitable while trading very differently.

Your "test" is just something based on some limited parameters. How can it be a serious proof of whole "counter-trend trading" bunch of methods not having an edge?

By counter trend trading you are expecting the herd to do what you expect it to do , the herd is strong and pushing against you , your profits are smaller than when trading with the herd.

 

[cornix]

Quote from oilfxpro:

By counter trend trading you are expecting the herd to do what you expect it to do , the herd is strong and pushing against you , your profits are smaller than when trading with the herd.

Now that is a different point.

Yes, definitely potential average profit is smaller, when one is picking minor retraces against the main trend, picking the entries, where trend traders take profits etc.

But "smaller average profit per trade" and "negative edge" are two different substances.

Counter-trend scalps can be good, with enough experience they can nicely add up to trader's profits, because she/he would exploit all the "zigzags" of the move and not just sit them out.

 

[clightmarathon]

Quote from oilfxpro:

May be there are not enough trends in day trading for day traders to make money?How many trends are there in a week?

There are enough trends.

To help you a little:
In eurusd during the last 14 month period there were approximately 190 occasions where a 4 hour period had a range larger than 100pips. About 0.6 per day, or about 10% of the 4H bars.
Even 1 per week would be enough. If you narrow it down you will find that 2 specific 4 hour bars are likely to have that range, and if you want to be more specific one 4 hour bar, the pre New York- New York 4 H bar is the most likely period, as one would expect. So You find there were about 90 cases of 100 or more pips during this 14 month period, about one third of the days had 100 or more pips range during that 4 hour period. And these are just the "mega" trends, like Friday in eurusd. That is enough, imho. Of course I'd love to have it every day, but that would be too easy, wouldn't it .

 

[cornix]

Quote from clightmarathon:

Of course I'd love to have it every day, but that would be too easy, wouldn't it .

Yea, and for those times, when there's no trend, we have reversal signals in the arsenal.

 

[Lights]

Quote from oilfxpro:

There are so many threads negative about day trading , it was time to ask why is there no successful day trader in the popularity of George Sorros , Jim Symons etc.

Trading is a zero sum game and day trading is a negative sum game.The only people making money out of it is brokers.

If it was profitable to day trade , brokers would hire people to trade with broker's capital.

A few internet marketeers are selling motoring , under the guise of successful day trading , but these are just scams.

http://www.elitetrader.com/vb/showthread.php?threadid=220707

http://www.elitetrader.com/vb/showthread.php?threadid=220676

http://www.elitetrader.com/vb/showthread.php?threadid=218977

http://www.elitetrader.com/vb/showthread.php?s=&threadid=220513

http://www.elitetrader.com/vb/showthread.php?s=&threadid=218160

It's true, 95%+ fail in daytrading. But the minority consistently makes. It's akin to professional sports. Same goes for investing.

 

[oilfxpro]

Quote from Lights:

It's true, 95%+ fail in daytrading. But the minority consistently makes. It's akin to professional sports. Same goes for investing.

It is highly possible to consistently make money from day trading.These are friday's counter trend trades , it shows you can make money even on a bad day on the wrong side of the market.

Overall a net loss of 220 pips , but a $ figure of profit $220

 

[cornix]

Quote from oilfxpro:

It is highly possible to consistently make money from day trading.These are friday's counter trend trades , it shows you can make money even on a bad day on the wrong side of the market.

Overall a net loss of 220 pips , but a $ figure of profit $220

How can it be a loss in pips, but a profit in dollars?

 

[oilfxpro]

Quote from cornixforex:

How can it be a loss in pips, but a profit in dollars?

I will offer u training course for $20k , it is called magical trading course.I will make a magician/trader.

 

[cornix]

Quote from oilfxpro:

I will offer u training course for $20k , it is called magical trading course.I will make a magician/trader.

Thank you for this generous offer, but I am too stupid to learn from any course anyway, so will continue to watch funny pictures aka charts the way I do last 7 years.