Day trading is losers game

[cornix]

Quote from oilfxpro:

Day trading by it's very nature is difficult.

It sure is, but the question is: do you currently day trade or not?

Every problem can be solved , it requires intelligence and common sense.

Just one example of common sense applied please, of solving liquidity problem on a given market without changing the trading style and the market traded itself.

 

[oilfxpro]

Quote from cornixforex:

It sure is, but the question is: do you currently day trade or not?



Just one example of common sense applied please, of solving liquidity problem on a given market without changing the trading style and the market traded itself.

I have a proprietary day trading method which I am trying to implement.It eliminates many day trading problems

Firstly you don't trade manipulated illiquid markets , secondly you use high liquidity markets like eur/usd.

 

[cornix]

Quote from oilfxpro:

I have a proprietary day trading method which I am trying to implement.It eliminates many day trading problems

Does "trying to implement" mean that you are still struggling to succeed in day trading?

Firstly you don't trade manipulated illiquid markets , secondly you use high liquidity markets like eur/usd.

Do you believe theoretically one can day trade EURUSD to billions of net profit? What do you believe is the maximum order size executed in spot FX without significant slippage?

 

[angelnish]

Quote from oilfxpro:

I have finally found an article which really sums up day trading.It is well worth a read.Day traders are doomed for failure.

http://www.rb-trading.com/article10.html

However, even trend-following tools that work in intermediate to long-term time frames won't work in day trading. This is because the trend component is so very small in short-term data that you must use a highly effective method to overcome the costs of trading.Tradeable trends do not show up often in the very short term. They certainly are not present every day. That is why the person who tries to day trade at least once every day, and perhaps even more often, is doomed to failure. The more often you day trade, the more likely it is that you will be a long-term loser.

Very interesting oilfxpro, thanks for sharing.
Happy Trading!

 

[oilfxpro]

Quote from angelnish:

Very interesting oilfxpro, thanks for sharing.
Happy Trading!

That is an excellent article which sums up the profitability of day trading and odds of success.Everything in the article is unbiased, and it states all the truths.

 

[cornix]

Quote from oilfxpro:

That is an excellent article which sums up the profitability of day trading and odds of success.Everything in the article is unbiased, and it states all the truths.

...and at the same time you admit that you struggle to profitably day trade for 5 years already, simultaneously calling day traders "dumb" and having "no knowledge about probability etc." in the thread started by yourself and named "day trading is a losers game"...

Think I'm starting to understand your "common sense".

 

[oilfxpro]

Quote from cornixforex:

...and at the same time you admit that you struggle to profitably day trade for 5 years already, simultaneously calling day traders "dumb" and having "no knowledge about probability etc." in the thread started by yourself and named "day trading is a losers game"...

Think I'm starting to understand your "common sense".

Tell me what do you know about the overall probabilities of day trading and odds of being successful?I want a simple concise opinion .

 

[cornix]

Quote from oilfxpro:

Tell me what do you know about the overall probabilities of day trading and odds of being successful?I want a simple concise opinion .

I believe average probability of a retail newbie to succeed at day trading is like 1-5%, provided she/he does it all alone without any luck of getting real help from some experienced person. With good help, this chance increases significantly and depends mostly on the degree of dedication of the "student" and qualities of the "mentor".

Have no exact stats to prove it, that's my subjective estimation after 7+ years of trading.

But there is another very interesting statistics: of all people who try to lose weight, more than 90% fail to achieve their goal consistently. Hint, hint (where the problem lies ).

 

[oilfxpro]

Quote from cornixforex:


But there is another very interesting statistics: of all people who try to lose weight, more than 90% fail to achieve their goal consistently. Hint, hint (where the problem lies ).

A few internet marketeers are selling mentoring , under the guise of successful day trading , but these are just scams.

 

[cornix]

Quote from oilfxpro:

A few internet marketeers are selling mentoring , under the guise of successful day trading , but these are just scams.

No, I didn't hint that.

By the way, I got very lucky myself to get even more than one quasi-mentor who never charged me a penny. So not all people who post on the forums are scams.