Giving up on day trading?

TradeWrecker · Sep 26, 2010

Quote from Redneck:

You have a hard time focusing â I would surmise

May I respectfully suggest you give it an earnest attempt

-------------------------------------------------------------------------------------------------------------------------------------------------------------

I also find what you expect to be BS â please explain what gives you the right to expect thisâ¦

You that goodâ¦, that egotisticalâ¦, or that delusionalâ¦. (2 of these 3 will absolutely cause you to fail)

Not bustin on you Sirâ¦ but I find a healthy dose of reality now and again â a good thing

Regards
RN

You're an idiot and everything that is wrong with financial forums and retail trading in general... I have yet to find you post a single slice of basis or evidence for all your beliefs and opinions.

You obviously know nothing about what it takes to really trade and you're certainly not here to learn. So what's the point?

Just another forum gum flapper who's self-worth is tied to how much shit he thinks he can stir...

Redneck · Sep 26, 2010

Canât ague with you about being an idiot â I have held on to losers way too long â and blown up a couple of accounts â in the past

As for my beliefs â my trading beliefs are far removed from my personal beliefs â and it is not my responsibility to provide you basis of that which I believeâ¦ think... or knowâ¦ for either...

As for what is obvious â well letâs seeâ¦

1.) This isnât primarily a financial forum â it is a trading forum

2.) What is wrong with retail trading in general is the total larceny and deceit that occurs regulary to fleece the unknowing public

3.) Iâm satisfied with my results (my PnL)â¦ And yeah it has already been challenged and defended â way old news

4.) As for learning â I am first and foremost a student â of the market (already been posted)

Now as for being a gum flapper â yep some of my posts do get wordy no doubt

And as for stirring shit â appears the only shit Iâve stirred â is that which exists between your ears

Come on is that all ya gotâ¦ jeez anyone can post personal attacks â least give the OP something he can bank on â¦

You know some of that good ole expertise that CTA you hold gave you â unfortunately appears youâre still trying to figure it out thoughâ¦. Trading that isâ¦

Good luck â which btw is something I do not believe inâ¦

-----------------------------------------------------------------------------------------------------------------------------------------------------------------
Aside;

Appears youâre new here â unless this is another alias youâve created of course.

So why not come here with a modicum of civilityâ¦

Or do you fancy yourself as the next big trading expert to come down the pike â ready to show us all how its doneâ¦.

Please get a clue.., and lose the ego â else the money you lose will be your ownâ¦.

Regards
RN

Quote from TradeWrecker:

You're an idiot and everything that is wrong with financial forums and retail trading in general... I have yet to find you post a single slice of basis or evidence for all your beliefs and opinions.

You obviously know nothing about what it takes to really trade and you're certainly not here to learn. So what's the point?

Just another forum gum flapper who's self-worth is tied to how much shit he thinks he can stir...

deadbroke · Sep 27, 2010

Quote from Redneck:

Canât ague with you about being an idiot â I have held on to losers way too long â and blown up a couple of accounts â in the past

As for my beliefs â my trading beliefs are far removed from my personal beliefs â and it is not my responsibility to provide you basis of that which I believeâ¦ think... or knowâ¦ for either...

As for what is obvious â well letâs seeâ¦

1.) This isnât primarily a financial forum â it is a trading forum

2.) What is wrong with retail trading in general is the total larceny and deceit that occurs regulary to fleece the unknowing public

3.) Iâm satisfied with my results (my PnL)â¦ And yeah it has already been challenged and defended â way old news

4.) As for learning â I am first and foremost a student â of the market (already been posted)

Now as for being a gum flapper â yep some of my posts do get wordy no doubt

And as for stirring shit â appears the only shit Iâve stirred â is that which exists between your ears

Come on is that all ya gotâ¦ jeez anyone can post personal attacks â least give the OP something he can bank on â¦

You know some of that good ole expertise that CTA you hold gave you â unfortunately appears youâre still trying to figure it out thoughâ¦. Trading that isâ¦

Good luck â which btw is something I do not believe inâ¦

-----------------------------------------------------------------------------------------------------------------------------------------------------------------
Aside;

Appears youâre new here â unless this is another alias youâve created of course.

So why not come here with a modicum of civilityâ¦

Or do you fancy yourself as the next big trading expert to come down the pike â ready to show us all how its doneâ¦.

Please get a clue.., and lose the ego â else the money you lose will be your ownâ¦.

Regards
RN

He most certainly DOES have a clue.

As I've told you before, you are the Universe's wishy-washiest, namby=pamby, miss goodie-2-shoes. In your posts, almost all, you come across as a saint. The saintliness masks your stupidity and total lack of conviction. How much longer did you think it would be before someone else would discover this?

ammo · Sep 27, 2010

Quote from businessstaxes:

/////you have more action afterhours than regular hours these days. //// ................those in the know might be trading around the intervention that happens during regular trading hours.....only a guess

otcstockfund · Sep 27, 2010

Quote from Badeco:

Hello traders,

I've been day trading full time for over 3 years now.
At this point in time I have experimented with multiple different models and strategies.

I've experimented with manual, semi-automated and fully automated trading systems for entering and exiting positions. I've traded stocks, options and futures and used different time frames for analysis.

I have to admit though that after over 3 years trying very hard, I am still unable to consistently win the day trading game. A system can work in some occasions but then in exactly the same setup it will fail and give back the gains. All in all, over time I've found it very difficult to generate revenues that would cover commissions and other costs and still generate profits.

From my first days trading I never thought that trading would be an easy adventure, I knew that it would take a lot of losses, stress, humility and patience. But after over 3 years full time I would have expected that I would have "graduated" on trading and would be able to generate consistent profits, but that is not yet the case...

I would appreciate hearing from experienced traders, in particular those that have been on this business for a longer period of time and I know they aren't many, whether it has been for them such a hardship to succeed in trading or maybe it is simply that you can not really consistently win the trading game?

Thanks for your comments.

for me it has not been real hard first try i started with 500 bucks and i had no idea of what i was doing second try with 700 and haven't looked back since and that was in 99....#1 thing i've learned is you can never prepare too much for the next day

crgarcia · Sep 27, 2010

Quote from Badeco:

Hello traders,

I've been day trading full time for over 3 years now.
At this point in time I have experimented with multiple different models and strategies.

I've experimented with manual, semi-automated and fully automated trading systems for entering and exiting positions. I've traded stocks, options and futures and used different time frames for analysis.

I have to admit though that after over 3 years trying very hard, I am still unable to consistently win the day trading game. A system can work in some occasions but then in exactly the same setup it will fail and give back the gains. All in all, over time I've found it very difficult to generate revenues that would cover commissions and other costs and still generate profits.

From my first days trading I never thought that trading would be an easy adventure, I knew that it would take a lot of losses, stress, humility and patience. But after over 3 years full time I would have expected that I would have "graduated" on trading and would be able to generate consistent profits, but that is not yet the case...

I would appreciate hearing from experienced traders, in particular those that have been on this business for a longer period of time and I know they aren't many, whether it has been for them such a hardship to succeed in trading or maybe it is simply that you can not really consistently win the trading game?

Thanks for your comments.

You can ONLY consistently make money with long term trading and only in certain YEARS. i.e. buying during recessions.

You were suckered into daytrading.

Daytrading is only recommended by greedy brokers so you generate boatloads of commissions.
There has never EVER been a documented case of a profitable daytrader.

Keep your hard earned money and stop listening to liar brokers (abd their shills).

pspr · Sep 27, 2010

Quote from Redneck:

Canât ague with you about being an idiot â I have held on to losers way too long â and blown up a couple of accounts â in the past..................

And as for stirring shit â appears the only shit Iâve stirred â is that which exists between your ears.....................

Great post!

jajuanm2 · Sep 27, 2010

Try to swing trade and focus on being green every week.

crater · Sep 27, 2010

Here are some ideas from an old guy who IS A SUCCESSFUL TRADER.

First of all, some strange advice: DO NOT TRY TO MAKE DOLLARS. If you go to a friend and say "I made $1,000 yesterday, and it only took me 50 years." he will take you for an idiot. Obviously the goal is NOT JUST THE DOLLARS. Time is also involved.

Forget the percentages. They are misleading because IN A RAPIDLY MOVING MARKET THE BASE IS CONSTANTLY CHANGING. Use LOGS to make your measurements. They remain consistant.

How does one measure his success, then? I use two primary figures as my goals:
(1) A high percentage of profitable trades our of the last twenty, and
(2) A high compounded rate of gain per DAY.

In the 90's, my % of profitable trades ran around 65% slightly below what a decent trader should make. Five years ago, it stood at 85%, giving some convincing evidence that my techniques were improving. Since the beginning of this year, it has averaged 91.53%.

How about the compounded rate? Did you notice my login name? "Crater". Short for "C Rater". Everything I do is aimed at raising the RESULTING DAILY COMPOUNDED RATE OF RETURN TO ITS MAXIMUM. When that number reaches a high level, the "Dollars" and "Percentages" will take care of themselves, of necessity.

If you don't know what I'm talking about, you MUST learn the necessary math. Any good scientific calculator can handle this stuff. Excel can handle it. "C", BASIC, and FORTRAN can handle it. If you aren't familiar with these things, and don't want to learn them, don't waste your time and money in the market.

If you wish, I will give you some of the tools I use, and suggest areas for you to investigate.

I was going to close with "Good Luck". But it doesn't take luck, it takes endless study, difficult and frustrating work and plenty of self confidence.

Keep at it.

Crater

NoDoji · Sep 27, 2010

Quote from crater:

Since the beginning of this year, it has averaged 91.53%.

If you wish, I will give you some of the tools I use, and suggest areas for you to investigate.

Yes, do share; I thought my win rate was stellar, but you win