Day trading is losers game

dealmaker · Jun 27, 2011

"Can you link me to your web site address or sell me your system ?"
-Gavinlee888

Obviously you do not understand trading. Unless that was a sarcastic remark.
More people use the same system less effective it becomes and at one point stops working all together. Any system you'll buy will not be effective unless you shell out millions and are the only person with that system.
Besides trading is not about certainities, its about probabilities and any trading system or technique one has developed will stop working at one time because the conditions that made that technique work has changed.
Trading is not a destination, its a journey; you have to continually work on your process, technique and adapt to the continually changing environment.
So instead of buying a system invest in learning trading, especially the psychology. Best of luck!

cornix · Jun 28, 2011

Oilfxpro:

I called 3 trades today as well (didn't trade yesterday), all with initial stops in the range of 6 pips (would require even less heat after the entry), all realtime for a total of +40 pips. Check them out if you are still interested.

oilfxpro · Mar 10, 2012

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

cornix · Mar 10, 2012

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?

Hmm... 2-3 per session on average on 5-min chart. So 10-15 per week.

wiesman02 · Mar 10, 2012

Quote from mikeenday:

Don't move stops, rather focus on getting the entry correct (by reading bid/ask).

Actually, in my opinion, you've got it dead wrong. Getting the entry right isn't that important. You can always average down to a certain extent. Its getting the exit correct. Knowing how to read the price action once you're in a position and nagivating it correctly so you come out ahead.

oilfxpro · Mar 10, 2012

Quote from cornixforex:

Hmm... 2-3 per session on average on 5-min chart. So 10-15 per week.

how many fail by the time you catch them? None of this fib fib fobonnaci stuff!

cornix · Mar 10, 2012

Quote from oilfxpro:

how many fail by the time you catch them? None of this fib fib fobonnaci stuff!

Some fail, some not, there are enough of them to make money, that's all any trader should care about, not about definitions of what is trend or not.

BTW, ranges can be just as (if not even more) profitable.

oilfxpro · Mar 10, 2012

Quote from galvinlee888:

Just curious what happen to your another 11 "open trades", each of them are currently in red and has a wide SL of 800, if they all get hit, you are actually going to loss 8800 ?

Also, how can you have the buy and sell the same instrucment (EUR/USD) in the same time ? Is the broker allow you to do so ?

There are 6 buys and 5 sells , so net loss is potentially $800 , but before we get to that situation , mental stop will come in.There will be other trades making a profit , before we get there.

The brokers I use allow me to do have buys and sells.

Sorry about delay in response.

oilfxpro · Mar 10, 2012

Quote from cornixforex:

Some fail, some not, there are enough of them to make money, that's all any trader should care about, not about definitions of what is trend or not.

BTW, ranges can be just as (if not even more) profitable.

How much is noise or what appears to be a trend , but is infact random movements?You can see trends where none exist.

Even coin tossing can be profitable, if you know how.

cornix · Mar 10, 2012

Quote from oilfxpro:

How much is noise or what appears to be a trend , but is infact random movements?You can see trends where none exist.

Even coin tossing can be profitable, if you know how.

Why should I care? Our job is to make money from trading, let economists debate about definitions.