Day Trading to Multimillionairedom

traider said:
Or people could be just lucky in this super bull market
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I do not care bull or bear. I just trade what I see while keeping an eye on the general direction like I am now

No 2nd leg down on the short so will leave that alone for now but a retrace to the long, also leave that alone as no clear direction yet. Day trading is more about waiting than anything else :)

So short on the 2nd leg 15673, let us see where that goes

Ok jumped out at 15635. Had to be quick on that. Why jump out there?? I have statistical bands which show me we are at extremes. We reached there on 1 10 min bar. DAX can move further but often pulls inside so best to jump out and see. Trading is not luck. It is about years of watching markets and know what happens most of the time. Not always but most is good enough to make some $$.
 
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Check out Nav Sarao who made $40 million day trading e-mini S&P 500 futures from his bedroom at his parents house.

https://www.bbc.com/news/explainers-51265169

There's also the Japanese trader CIS.

https://www.washingtonpost.com/busi...1b3c88-588c-11e4-bd61-346aee66ba29_story.html

There's plenty of proof of profitable day traders, but I'd bet it's true that for every successful day trader you have 10 or even 1000 profitable (may not be successful) swing traders.

It's obvious that the OP does not have what it takes to succeed in day trading. This is probably also true for most others. So, I agree that it's good advice to forget about it. :)
 
Blaze said:
DAY TRADING IS FOR DUMB MONEY
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So there are 2 live trades for a total of 93 points within 1 hr. Scale those points to whatever you want. There is really no such thing as dumb money but people who do not know what they are doing!!
 
Laissez Faire said:
Check out Nav Sarao who made $40 million day trading e-mini S&P 500 futures from his bedroom at his parents house.

https://www.bbc.com/news/explainers-51265169

There's also the Japanese trader CIS.

https://www.washingtonpost.com/busi...1b3c88-588c-11e4-bd61-346aee66ba29_story.html

There's plenty of proof of profitable day traders, but I'd bet it's true that for every successful day trader you have 10 or even 1000 profitable (may not be successful) swing traders.

It's obvious that the OP does not have what it takes to succeed in day trading. This is probably also true for most others. So, I agree that it's good advice to forget about it. :)
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Nav thrived at a time before HFT was invincible. When HFT took over he had to resort to spoofing.
 
speedo said:
The main difference between myself and others like me and the scores of those who have fallen by the wayside is we didn't quit.
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What is there left for a man, who chose to quit, if not a life long lasting dissatisfaction & regret.

On the other hand, what do you get by sticking to it, for 5 - 10 years, -

everything.
 
antares66 said:
May i ask what software you are using for daytrading?
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I used WealthLab4 before to backtest, still do use it but rarely. I have my own Python backtester and scripts for custom data.
Execution side is just IB API (ibpythonic) with pandas, numpy and many other helper tools.
I can do away with all commercial tools with ease.
 
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