Does any one make money intrady trading
- Thread starter gifropan
- Start date
The challenge was changed, because everyone I encountered wanted to change the deal. That's how negotiations work.Quote from NihabaAshi:
I remember that thread of yours very well...
It was problematic out of the gate and that was the reason why many traders that are profitable were not interested in your offer.
10k to mentor you for several months is not suitable for any profitable trader and the fact that nobody took you up on the offer proves my point.
Simply, you greatly underestimate what mentoring involves and your 10k doesn't come close to compensating a trader that devotes to you for that length of time.
I also remember a few ET members offering to help you for free but not for several months.
I guess you didn't take them up on their offer.
Simply, your offer came across too many (I remember the chat room conversations about your offer) as a challenge and not as a trader with a sincere interest in learning how to trade profitably.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=43072
My point is this, a good mentor that's profitable will view you and your offer as a bad situation simply via how you came across in that thread...
An offer that you started changing and adding more conditions upon as the thread called $10,000 Challenge developed.
Furthering my opinion, I don't think you understand that it takes two to tangle.
Good mentor and good student...you didn't come across as a potential good student in the first few pages of that thread and things got worst/deterioated as the thread progressed until many got tired of seeing it (it was finally closed).
As someone said perfectly in which you responded "no comment"...
Just my 2 cents about old news.
Mark
But, the bottom line is that no one was prepared to produce those tax returns -- at any price. And, without the tax returns, I have no assurance that the person is telling me the truth. I wouldn't buy then, and I won't buy now, without reasonable assurances that the seller can actually deliver.
Hi,
I would agree. It is the same for any avocation. Most of the time it is not possible to pass on the skill - it is too individualistic. Sometimes what is being done is sort of in the gray are of ethics and law. Sometimes it is a little edge that works for a while - but then mysteriously disappears (like a billiards player who is in the zone).
However, daytrading is not the only way to make money. I made plenty in my life, never even looking at stock price. Nowadays, it is a bit of a diversion for me, and pretty interesting.
Have you found a way to play with the stock market and make money? I am concentrating on S&Ps swing trading. Working pretty well so far.
Cya,
Rich
However, the good news is that we both made money above inflation. Better than many people that I know.Repeat the offer a few times and I think you may well find a taker. But you are not offering a great deal, unless you really mean to just sit their and watch. Because , for example, if you were watching me trade with no explanation of why i was taking the trades i did and rejecting others, you probably wouldn't be able to figure out what i was doing by just watching alone. I have been trading many years, but not day trading your requisite 5 years, and i don't earn substantially all of my income from day trading, though i trade "full time," so i don't qualify, and likely never would because i have substantial, other sources of income. It is likely though that you will find a taker if you repeat your offer. Yes you can make good money day trading. Go back and read Cocaine's post. That pretty much sums up the situation. It is not easy to learn, but once you have got it right, you have got it. Look at the Profit/Loss Thread on ET, and you will find that there are a number of very good traders posting on ET. Let me just add that Day trading is not a get rich quick scheme. It is quite easy for a good trader to net 20%+ routinely, and that is better than you will average with mutual funds. And occasionally traders will have a 40% or better year. But always it is the case that higher returns are accompanied by higher risk. A 500K account can return 6 figures year after year, and that indeed is a very nice living, considering that you only have to work a few hours a day to achieve it.
Just the same, a good mentor most likely will not be willing to sell to you his/her time and energy for several months without assurances that you are a qualified student...
I'm not talking about how much you are willing to pay.
Mark