Day trading is losers game

Quote from oilfxpro:

Buffet ,Sorros and Jim Rogers use fundamental investing ,they really aren't traders.Traders are gamblers , these people are investors.
More...

Wrong! Soros has been one of the biggest gamblers of our times. He made most of his gains in a single day back in the early 1990s shorting GBP.

Rogers is fundamentally a trend-follower, meaning a trader. He is not a buy and hold investor. He is a market timer. He often changes his outlook about currencies, commodities, etc. I would not be surprised if he also does swing trades.

Traders are not gamblers in general, but some traders are gamblers and some gamblers are also traders.

I think you have not worked for an investment bank or a commodity house to see what real traders do. Their job is easier than that of the people in this forum because they move size. They use mostly the same tools for analysis. This is the trading size. I am not talking about the product development and pricing side. That is a different story.
 
Lets also get real - the reason you do not fid traders in this size is that in this money size you need to be there you CAN NOT TRADE.

You can start as a trader, but making a billion or more profit per year is not something POSSIBLY for a day trader - maybe a programmer, but not a trader. YOu can nto track enoughn markets and the markets you trade doe not have enough liquidity - you start moving the market going in and out.

The result? STrategies change when you scale up and you get longer in your trades. It is easy to jump in and out of ES with 10 contracts - it is not to seasy with 10.000 contracts ;)
 
Quote from oilfxpro:

All these rises in the stock markets were due to the increase in money supply and abolishment of gold standard. Most of these rises in stock markets were the direct result of fiat money printing inflation.
More...
Why do you think a little steady inflation is bad? Only capitalists think so. Without inflation there is no way for middle class to ever replay its debt. Marxists who cry for the return of the gold standard, and you sound like one, are the opposite side of the coin that wants total economic control via the abolishment of fiat currency and the enslavement of the middle class to those who own gold, like in pre-French revolution.

I wonder why you think like that because I suspect you are not a wealthy person, as a matter of fact I think you are struggling to survive, yet you want fiat currency abolished? Who is going to give you gold to buy food? Do you have an aunt in the Royal family?

Fiat currency is a right that was achieved by the peoples of this world. Most companies that exist today would not have even started should fiat currency were not available. The owners of those companies would be either dead or enslaved in basements of the rich gold owners like it was happening in France before the revolution.

The right to have and print fiat currency on demand is an integral part of free societies.
 
Quote from intradaybill:

Why do you think a little steady inflation is bad? Only capitalists think so. Without inflation there is no way for middle class to ever replay its debt. Marxists who cry for the return of the gold standard, and you sound like one, are the opposite side of the coin that wants total economic control via the abolishment of fiat currency and the enslavement of the middle class to those who own gold, like in pre-French revolution.

I wonder why you think like that because I suspect you are not a wealthy person, as a matter of fact I think you are struggling to survive, yet you want fiat currency abolished? Who is going to give you gold to buy food? Do you have an aunt in the Royal family?

Fiat currency is a right that was achieved by the peoples of this world. Most companies that exist today would not have even started should fiat currency were not available. The owners of those companies would be either dead or enslaved in basements of the rich gold owners like it was happening in France before the revolution.

The right to have and print fiat currency on demand is an integral part of free societies.
More...

I believe a little inflation is good and has given opportunities to the middle class to strive.I do actually own of gold in the jewellery business.

I was merely making a point about the returns (net of fiat inflation) .
 
Quote from NetTecture:

Lets also get real - the reason you do not fid traders in this size is that in this money size you need to be there you CAN NOT TRADE.

You can start as a trader, but making a billion or more profit per year is not something POSSIBLY for a day trader - maybe a programmer, but not a trader. YOu can nto track enoughn markets and the markets you trade doe not have enough liquidity - you start moving the market going in and out.

The result? STrategies change when you scale up and you get longer in your trades. It is easy to jump in and out of ES with 10 contracts - it is not to seasy with 10.000 contracts ;)
More...

Correct: the biggest day trader I know of has a small clip size of 4000 ES and full size is 20,000 ES in a single trade. If the exchange limit on a single trade was higher he would day trade trade bigger size. He never holds overnight and he's a quiet private trader working from home. There are no books about him, no big noises, zero attention.

He uses TA, has developed his own system but he also incorporates outside timing software that costs about $20,000.

There are a few great day traders on ET that I know of but they are not interested in posting anything of what they do, partly because the few who do post some information receive ridicule. The result is dumbing down threads like this abound whereas years back you got more quality posts by successful traders about what did work rather than failed traders telling the world what doesn't work.

Now there are even threads where nutters with multiple aliases chat to themselves. As others have explained, if day trading was that easy everyone would be at it. There was a time when it was that easy and everyone was at it but then the bubble burst and folks discovered there was more to day trading that riding a rampaging trend. The inverse of that is to think day trading can't be done and one notion is a sound as the other.
 
Quote from oilfxpro:

All these rises in the stock markets were due to the increase in money supply ,and abolishment of gold standard.Most of these rises in stock markets were the direct result of fiat money printing inflation.
More...

Didn't he average 30% returns managing billions, what was your returns during that time or hell during any time. After all you're smart and he's just lucky.
 
Quote from bigarrow:

Didn't he average 30% returns managing billions, what was your returns during that time or hell during any time. After all you're smart and he's just lucky.
More...

All fund managers did well when the printing presses were printing money that lead to the current crisis.

They forgot to boast they lost money for 16 years prior to 1982.
 

Attachments

Quote from Xspurt:

Correct: the biggest day trader I know of has a small clip size of 4000 ES and full size is 20,000 ES in a single trade. If the exchange limit on a single trade was higher he would day trade trade bigger size. He never holds overnight and he's a quiet private trader working from home. There are no books about him, no big noises, zero attention.

He uses TA, has developed his own system but he also incorporates outside timing software that costs about $20,000.

There are a few great day traders on ET that I know of but they are not interested in posting anything of what they do, partly because the few who do post some information receive ridicule. The result is dumbing down threads like this abound whereas years back you got more quality posts by successful traders about what did work rather than failed traders telling the world what doesn't work.

Now there are even threads where nutters with multiple aliases chat to themselves. As others have explained, if day trading was that easy everyone would be at it. There was a time when it was that easy and everyone was at it but then the bubble burst and folks discovered there was more to day trading that riding a rampaging trend. The inverse of that is to think day trading can't be done and one notion is a sound as the other.
More...

Just out of curiosity, what timing software is that? Is the 20k a monthly fee or a one time fee?

Thank you.
 
LOL....

laughing-smiley-001.gif
 
You must log in or register to reply here.
Back
Top