Day trading is losers game

I found that trying to trade more that 10 times a day per chart, for me anyway, was suicide. 200 is ridiculous. I only day trade for about 4 hours a day tops and 2 or 3 trades per chart in that time frame is comfortable. A lot of my charts average 1 or 2 trades a day maximum.

I've watched individuals try to trade a chart like playing a video game and it drives me nuts. It is absolutely no wonder they loose their shirts.
 
I'm with you on this, 1-2 trade setups on average per time frame per day. I have a very specific sequence that I follow and it occurs across all time frames but it's not trading on any one time frame all day long. Toggling between several times frames, I've found, works wonders. :)

200 trades a day though....I couldnt handle it

Quote from Neenisti:

I found that trying to trade more that 10 times a day per chart, for me anyway, was suicide. 200 is ridiculous. I only day trade for about 4 hours a day tops and 2 or 3 trades per chart in that time frame is comfortable. A lot of my charts average 1 or 2 trades a day maximum.

I've watched individuals try to trade a chart like playing a video game and it drives me nuts. It is absolutely no wonder they loose their shirts.
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Quote from failed_trad3r:

the reason is daytrading is a zero-sum game. There will ALWAYS be losers.

In a closed system where all daytraders trade against eachother and each spends 10.000 hours to learn daytrading, still you will have losers. Thats why the "business" of daytrading is crap argument and the 10.000 screen time is also a crap argument. It is also the reason discretionary daytrading doesn't work and the reason automated systems stop working sometimes.

Your systems has to be better than others, aka for example in poker if your bluff is better than the others you can consistently make money, but the other will learn to create better bluffs, then you need to step up your game. Is is a constant struggle for edges.
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Trading is a closed system, but retail daytrading is not. You're competing against traders at banks, hedge funds, market makers. Basically I think the odds are incredibly weighted against individual traders, especially given the enormous profits that the bank traders extract every day.

I do think it's hard for "normal" people to recognize just how stacked the odds are, so it's hard to fault people for trying their luck at it. Daytrading also has a low barrier to entry so you get a lot of people with the get-rich-quick mentality, and a lot of snake-oil salesmen who sell them the dreams. Realize that this board in particular is sponsored by a lot of these snake-oil salesmen, so keep that in mind if you're actually forming opinions based on what you read here.
 
Quote from Spearhead:

Trading is a closed system, but retail daytrading is not. You're competing against traders at banks, hedge funds, market makers. Basically I think the odds are incredibly weighted against individual traders, especially given the enormous profits that the bank traders extract every day.

I do think it's hard for "normal" people to recognize just how stacked the odds are, so it's hard to fault people for trying their luck at it. Daytrading also has a low barrier to entry so you get a lot of people with the get-rich-quick mentality, and a lot of snake-oil salesmen who sell them the dreams. Realize that this board in particular is sponsored by a lot of these snake-oil salesmen, so keep that in mind if you're actually forming opinions based on what you read here.
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+1

Many of these sites are set up to brainwash new traders into over trading , and generating commissions for brokers.Some of these sites actively promote over trading ideas.Some of these sites are ibs (introducing broker) and receive huge commission .The bots are programmed for rebuttals on propaganda which would affect the site's interests.
 
You can see ET sponsor list at the bottom of the website. Most are brokers, prop firms or software/data providers. In addition, they usually do not participate in discussions here at ET.

Thus, the only thing you see from them are banner ads or new product announcements. In contrast, the discussions about their products are ET members themselves.

Mark
 
Quote from wrbtrader:

You can see ET sponsor list at the bottom of the website. Most are brokers, prop firms or software/data providers. In addition, they usually do not participate in discussions here at ET.

Thus, the only thing you see from them are banner ads or new product announcements. In contrast, the discussions about their products are ET members themselves.

Mark
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Huh? Sponsors participate in discussions all the time with aliases and directly

Are you a sponsor, mentor or
Author?
 
Quote from Spearhead:

Trading is a closed system, but retail daytrading is not. You're competing against traders at banks, hedge funds, market makers. Basically I think the odds are incredibly weighted against individual traders, especially given the enormous profits that the bank traders extract every day.

I do think it's hard for "normal" people to recognize just how stacked the odds are, so it's hard to fault people for trying their luck at it. Daytrading also has a low barrier to entry so you get a lot of people with the get-rich-quick mentality, and a lot of snake-oil salesmen who sell them the dreams. Realize that this board in particular is sponsored by a lot of these snake-oil salesmen, so keep that in mind if you're actually forming opinions based on what you read here.
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And what do you for a living?
 
Quote from Neenisti:

There are www.womentor.com

Just like there are consistently profitable day traders. One more thing you were oblivious to.
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I know there are many profitable daytraders, and I know you are not one of them.

Dare ya to post even a SINGLE live trade.
 
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