Day trading is losers game

tradin4profits · Jul 23, 2012

Quote from ocean5:

http://wallstreetwarzone.com/the-more-you-trade-the-less-you-earn/

a good one

That may be true but it doesnt say 100% are losers. Some of us do make money daytrading just like some of you make money buying and holding or as you like to call it "swingtrading" but I would guess there are more losers than winners in buying and holding too. I know I havent been daytrading for almost 13 years on a daily basis because I love losing money. I am not that stupid.

PHOENIX TRADING · Jul 23, 2012

Quote from cornixforex:

I don't like these numbers. Would prefer to believe this game has 99% losers, otherwise it's not enough of a challenge and consequently, money to be made.

Warning, 82% of all day traders are losers! But deny it!

Moreover, never the twain shall meet. Each type of investor is as dogmatic as the other. DNA-based ideologies control each one, not rationality. Why? Their minds are made up in advance. Their opinions and beliefs were already cast in stone long ago. To each, facts about the other are totally irrelevant. Indeed, that was a given from the start, as I found out once again in our so-called debate. Hereâs why: Just before this little debate we discovered some interesting new data from a BusinessWeek article.

The bottom line is simpleâmost traders are losers. Earlier, Forbes reported on a study that the âNorth American Securities Administrators found that 77% of day traders lost money.â Now comes more evidence, BusinessWeek was reporting that 82% of all day traders lose money. That data comes from a recent study by a couple professors at the University of Taipei working in conjunction with University of California behavioral finance professors Terry Odean and Brad Barber. And yes, that is the same Odean and Barber who researched 66,400 Wall Street investors a decade ago and concluded, âThe more you trade the less you earn.â

I'm just trying to tell you no matter how good you pretend to be here, be aware of costs.

sheda · Jul 23, 2012

Quote from PHOENIX TRADING:

I'm just trying to tell you no matter how good you pretend to be here, be aware of costs.

And if he does make a decent profit on a consistent basis? Why are there so many who seem pathologically incapable of accepting this.

What is it with you guys, come on spit it out we can help you...

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In fact if you all have so much trouble with the concept WHY THE HELL ARE YOU HERE OR EVEN INVOLVED WITH TRADING IN ANY FORM WHAT SO EVER?

tradin4profits · Jul 23, 2012

Quote from sheda:

And if he does make a decent profit on a consistent basis? Why are there so many who seem pathologically incapable of accepting this.

What is it with you guys, come on spit it out we can help you...

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In fact if you all have so much trouble with the concept WHY THE HELL ARE YOU HERE OR EVEN INVOLVED WITH TRADING IN ANY FORM WHAT SO EVER?

You are dealing with a bunch of Larry, Curly and Mo's on this board. If they can't do it ....no one can!

oilfxpro · Jul 23, 2012

Quote from sheda:

And if he does make a decent profit on a consistent basis? Why are there so many who seem pathologically incapable of accepting this.

What is it with you guys, come on spit it out we can help you...

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In fact if you all have so much trouble with the concept WHY THE HELL ARE YOU HERE OR EVEN INVOLVED WITH TRADING IN ANY FORM WHAT SO EVER?

Do you know the costs involved in a zero sum game?

oilfxpro · Jul 23, 2012

Quote from PHOENIX TRADING:

I'm just trying to tell you no matter how good you pretend to be here, be aware of costs.

Zombies don't trade for real , they are pretenders and actors.They don't understand spread.

sheda · Jul 23, 2012

Quote from oilfxpro:

Do you know the costs involved in a zero sum game?

More canned crap blah blah blah

sheda · Jul 23, 2012

Quote from oilfxpro:

Zombies don't trade for real , they are pretenders and actors.They don't understand spread.

Oh noes the evil spread!! Noes!!!!

cornix · Jul 23, 2012

Quote from PHOENIX TRADING:

I'm just trying to tell you no matter how good you pretend to be here, be aware of costs.

Sorry if I sounded like I want to pretend here... Didn't intend to look bold. I get your point about being in denial of reality, but one good thing about trading is: you can't cheat P&L. Either you make it or you lose it consistently, no other way...

PitchBlack · Jul 23, 2012

Quote from ocean5:

Statistic suggests that daytrading IS a losers game.

Statistics don't matter. Your own account is the only important statistic that matters.

I have started several companies in my life and my statistics were always better than the average branch statistics.

Many times people asked: if what you want to do would work, others would have done it before you.

Many years later they realize that their statement was wrong.

If personal abilities are excellent you can beat any statistic in any branch.

Even in the zero sum game of daytrading.

Never say: if others cannot... I cannot....
And never say: if I cannot.... others cannot too....