Day trading is losers game

Quote from oilfxpro:

This is the punch .

I have finally devised a day trading system that does work , but it uses discretion It is a combination of ranging ,trending and random noise trading where direction gambling (betting) is done only on formation of major trend trend lines of 15m + , and trading major intra day support and resistance.Stops are wider and trading is done on probabilities of stop sizes getting hit less frequently.There is no marrying to positions , as trades are taken on both sides .It also involves some gambling position sizing etc.

Day trading is mostly betting on unknown outcome , it is going to the casino and throwing your money on the table , with tight stops which get taken out very frequently and losses mount.

Most gamblers get addicted to wins , but market gives non anticipated results frequently to make addicted losers.Using junk science called t/a does not help.
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You still dont have a clue do you? Reading your posts are funnier than watching reruns of the 3 Stooges.
 
Quote from tradin4profits:

You still dont have a clue do you? Reading your posts are funnier than watching reruns of the 3 Stooges.
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This ain't night trading , where the big boys move the prices at night .I am talking about bloody day trading where u get chopped out all day , with an illusive win at night where you had no trade.
 
Quote from oilfxpro:

Glad you traded it with $100m
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You have yet to reach the stage of financial freedom to let you understand that happiness in life is not about being in Market Wizards or Forbes/Fortune top, but in harmony with yourself... To answer your post, of course my size is much, much smaller than $100M... but WHO CARES? :)
 
If you can't figure out day trading then find a mentor or join a prop firm. Neither is a guarantee of success but at least you'll have a better chance than you will on your own. In my opinion day trading is a very high level skill that most likely cannot be mastered without some good coaching/mentoring.

I have a friend who has told me the markets can drive you crazy... literally. He has seen guys flip out over this stuff, smashing computers and throwing chairs around, and in the worst cases harming themselves. No sense banging your head against a wall if it's not happening.

Agree with Cornix that lots of money does not necessarily buy happiness. Personally I'd rather be in harmony with myself than be rich, although my ideal choice to be to have both! :p
 
Yes of course it's better be rich and healthy than poor and sick as we say in RU. :D

But it's so funny when people challenge others for not trading huge size and otherwise consider them something not "real". That gives away typical attitude of people who never really achieved anything much at all and thus don't respect the fact that results and goals can be different and a person is not obligated to dream about being the second Paul Rotter if she/he trades.

One great trader who helped me so much and whom we often mention on my site still trades about the same size ES as he traded 5 years ago when we met... but bet my arm, he cares less about what others think about him not trading 1000 cars and thus not being "cool guy". :)
 
Trading for me personally is about efficiency. I find myself not as nimble minded as I used to be and I am a trader for life. I need to be around trading. It makes me have harmony.

Judging trading competence is brutal. For some efficiency is not enough. Trading is all about profit verses risk some have taught. Simply a trader is judged by his results...not the talk!

Anyways...This is my two cents...Am I a professional no? Am I a successful trader in my own eyes no? why is that? Because I have not focused or stuck with a system long enough to endure. I sidetracked myself with the allure of the little amount of capital needed in Retail Forex...what a waste of 5 or 6 years of time. Another waste of time was when I thought I wanted to trade other peoples money and became a CTA. What a waste of three years that was...I hated it.

So with my own inspection of myself, I have concluded that screen hours, focus, efficiency cannot be taught. If you have the right mentality and know the right people and you can get lucky...well then you will get the big bucks. If you want to tread water and not grow like me then it is your own doing.

I think I want to join a prop shop when I get enough capital...or at least support traders that can trade the trade and walk the walk...

ES

P.S. Did I mention... I am very good looking.
 
Quote from oilfxpro:

Take a look a last two nights , the big moves happened at night.Day traders get chopped out due to news flows during the day.

Somebody thinks day trading is impossible .

http://www.elitetrader.com/vb/showthread.php?threadid=210122

Is day trading gambling?

http://www.mypivots.com/articles/articles.aspx?artnum=24
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Well that night move was someones day move in Asia or Europe.

Maybe day trading is just impossible for Americans?

Hmmm.

Interesting to see that most of the reference is this thread are related to FX. Most FX traders from what I can make out are failed futures or stock traders. They move to the next gig thinking it will solve their issues. Losers love company.
 
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