Day trading is losers game
- Thread starter oilfxpro
- Start date
It is so funny how all the traders here are so shocked that trading is hard !
They read one book or take a week of traning and wonder why
they are not making over 100K a year ?
You could not even know how to landscape in the time they put into it however they expect to make 3 times what they have earned before with 10% of the time invested.
The Market just is, it will move whatever what it wants, if you are on the right side then you will make money and GUESS WHAT
it does not care if you are in or out !
The problem is YOU not the market.
The ones that keep crying booo hoo Mr. Market is mean
you have to stop being such a Jackwagon and suck it up and learn how to trade.
Happy Trading,
Joe
They read one book or take a week of traning and wonder why
they are not making over 100K a year ?
You could not even know how to landscape in the time they put into it however they expect to make 3 times what they have earned before with 10% of the time invested.
The Market just is, it will move whatever what it wants, if you are on the right side then you will make money and GUESS WHAT
it does not care if you are in or out !
The problem is YOU not the market.
The ones that keep crying booo hoo Mr. Market is mean
you have to stop being such a Jackwagon and suck it up and learn how to trade.
Happy Trading,
Joe
Some facts I have realized in my 20 years of trading:
(1) Day trading is competing directly with market makers. Guess who is going to lose at the end? That does not mean that some people will not make it but the probability of not being you is very high.
(2) It takes 5 years to get a MSc in Electrical Engineering, for example, and it costs about 100K in tuition and expenses, for going to a State University. The cost for going to a University like MIT is possibly 200K or more. Yet, some people think they can learn the science of trading with no money down, just by looking at a screen. Can you learn how to build an airplane by just looking at it? Ask this question to yourself.
(3) Increase your timeframe a bit and forget about chasing pips or ticks. The money is made in position trading.
(4) Education and tools are necessary. Trading is a very expensive investment. If you do not have at least 5K to invest in tools and 5K more in education do not even start.
(5) if you have no money to invest but you still want to learn how to make money trading, ask a master to help you for a couple of years by accepting to work free for him or her. This is how people were learning the secrets of martial arts in Japan for years. Call the office of Mr. Soros and ask them to work there for free for a year, make coffee, running to the deli, cleaning the offices of traders, calling cars for them, arranging their meetings for exchange of letting you watch what they do 1 -2 hours a day.
...or lose all you money to those that do whatever it takes.
(1) Day trading is competing directly with market makers. Guess who is going to lose at the end? That does not mean that some people will not make it but the probability of not being you is very high.
(2) It takes 5 years to get a MSc in Electrical Engineering, for example, and it costs about 100K in tuition and expenses, for going to a State University. The cost for going to a University like MIT is possibly 200K or more. Yet, some people think they can learn the science of trading with no money down, just by looking at a screen. Can you learn how to build an airplane by just looking at it? Ask this question to yourself.
(3) Increase your timeframe a bit and forget about chasing pips or ticks. The money is made in position trading.
(4) Education and tools are necessary. Trading is a very expensive investment. If you do not have at least 5K to invest in tools and 5K more in education do not even start.
(5) if you have no money to invest but you still want to learn how to make money trading, ask a master to help you for a couple of years by accepting to work free for him or her. This is how people were learning the secrets of martial arts in Japan for years. Call the office of Mr. Soros and ask them to work there for free for a year, make coffee, running to the deli, cleaning the offices of traders, calling cars for them, arranging their meetings for exchange of letting you watch what they do 1 -2 hours a day.
...or lose all you money to those that do whatever it takes.
It is when you close the position. If you make a profit, it has to come out from someone else's account. Bernanke will not print money for you. Only for big banks. For you is zero-sum.
You want negative...ok here it is...
Even the popular gamblers can lose...DayTrading Forex is more of a slow-bleed long death. Liver cancer....painful stomach cancer...you know like that...
If you are to make it in Forex you gotta be senile and forgetful. If you remember the pain that you have endured then nothing in your trading career can equal it out when you become successful.
Life is pain.
In Forex nothing works for a long time if you have an edge. You always must be on the hunt.
Then you have the global players that get very greedy and without regulation they just close their dealership and disappear when they get enough money from their clients. Heck they were just a post box in the islands somewhere anyways...
Here in the USA the regulated brokers are thieves too...when they can get away with it...they are just as bad as the global players, instead they steal under the guise of regulation.
Yep...It's all a con job and even in today's depression the playing field has not dried up.
By the way... I am a loser, but just now I am profitable and trying to take what I can as fast as I can. But again, nothing will ever, ever repay me for the pain. so if you wanna' be a DayTrader...just forget it newbie....and for the others...well Good Trading to you and may your life be fruitful after your trading session is over.
ElectricDon'tGiveItAllBackSavant
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Even the popular gamblers can lose...DayTrading Forex is more of a slow-bleed long death. Liver cancer....painful stomach cancer...you know like that...
If you are to make it in Forex you gotta be senile and forgetful. If you remember the pain that you have endured then nothing in your trading career can equal it out when you become successful.
Life is pain.
In Forex nothing works for a long time if you have an edge. You always must be on the hunt.
Then you have the global players that get very greedy and without regulation they just close their dealership and disappear when they get enough money from their clients. Heck they were just a post box in the islands somewhere anyways...
Here in the USA the regulated brokers are thieves too...when they can get away with it...they are just as bad as the global players, instead they steal under the guise of regulation.
Yep...It's all a con job and even in today's depression the playing field has not dried up.
By the way... I am a loser, but just now I am profitable and trying to take what I can as fast as I can. But again, nothing will ever, ever repay me for the pain. so if you wanna' be a DayTrader...just forget it newbie....and for the others...well Good Trading to you and may your life be fruitful after your trading session is over.
ElectricDon'tGiveItAllBackSavant
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Quote from Fireplace:
Bro, I've been doing this since 1998, thanks for the offer but you wouldn't be able to pay me enough!
PS It's a wonder why you are still here....haven't you moved on?
I guess we are in the 5% crowd that have succeeded and didn't give up.
Crappy day in Crude oil and I can still say I have made more than the the highest paid construction worker in NY for a days work.
No offense Hood, patience is a virtue. Some people weren't meant to trade.