Giving up on day trading?

Quote from crgarcia:

I'm not a fool:
Zip files may contain a virus.

Is that all you have?
Trying to send me a virus, because you can't post arguments to validate frequent trading.
So we can safely conclude that deep inside, ProfLogic agrees with my posts.
Anyone else who agrees with my posts?
More...

You are a fool but that isn't the point of this post.

They have a new fangled program now called an "anti-virus program". You can get one for free (you can even afford that) at www.avast.com .

Arguing with you is akin to having a battle of wits with an unarmed person . . . not fair, though in your case, quite fun.

What you can safely conclude is few DON'T agree with your posts including me.
 
Quote from crgarcia:


.....
So we can safely conclude that deep inside, ProfLogic agrees with my posts.
Anyone else who agrees with my posts?
More...

I have never agreed with what you posted either.

I just have stopped commenting your mindless new posts, about one every few weeks, because you sound like a broken record.

As much as many traders who are delutional thinking they can make lots of money day trading, you are also delutional but at the extreme of the other end of the spectrum in re-iterating nobody can make *any* money day trading.
 
Hello All,

Almost two years ago, I have posted a first message on this forum, that I re-quote here:


*******************************************
"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.

*************************************************

After thousands of hours analyzing, testing and doing my best to avoid mental and methodological mistakes, I can now say that my trading is quite profitable.

So, for those that have been trying but have not yet found a consistent methodology to trade profitably I would like to give my little encouragement:

It may take much, much more time and effort that you thought initially, but don't give up, if you persevere and are open minded to see what the market is telling you and to develop the methodology and discipline to take only the trades/set-ups that you have validated statistically that are profitable, you will get there.

Good trade and good luck to all.
 
Quote from dolemitettu:

Nice work Badeco. What was the turning point for you? The eureka moment where it all started to become clear?
More...
.


Hi Dolemittu,

Things started improving when I stopped trying to guess where the market was moving next based on beliefs like: "the market has gone up too much, it should reverse now" I would then short and lose...
In other words, I started listening to the market instead of trying to have the market listen to me.
 
Great post! I am new to this forum but it caught my eye since I am a day trader myself.
I know how frustrating it can be at times. I have been trading for over 15 yrs now and still feel like I learn all the time.
The learning curve of a day trader could be painful because it is filled with all the human emotions that we experience during any given trading day.
Learning the systems could take 2, 3 or 4 years but learning to control your emotions takes a lifetime because we are constantly evolving as human beings and so is our perception of the world.
Sorry it is such a late reply but had to contribute!

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.
More...
 
Quote from Badeco:

.


Hi Dolemittu,

Things started improving when I stopped trying to guess where the market was moving next based on beliefs like: "the market has gone up too much, it should reverse now" I would then short and lose...
In other words, I started listening to the market instead of trying to have the market listen to me.
More...

Good stuff, thanks.
 
the "should" is the most costy.

I am a trend follower. often I see everything trending. in reality, 70% does not trend. easily buy top and sell bottom. but to a contrary trader, easily sell breakout and buy breakdown, since they thought new high is resistence, and new low is bottom.

what I realzie is trend trading is better than bottom picking and top short sale or fading. even I bought at the top and sell the bottom, most times those are just in the range, 70% time I will not in a big loser trade. often the range is small compared to wide price expansion in breakout/breakdown.

the hard thing to me is: discipline myself just focus on trending market. often I tempt to trade those random markets. just like something happened in the street, a crowd of people there, they seems they are watching some fun thing, and I do not know what is going on, the temptation to know is so strong, I push myself into the crowd and to the center, that drives me away from my predictable market, of course easily lost. since a crowd of people in a spot could happen in many reasons.

I start to realize" trading is boring" is an indicator. when I feel boring, that means I am discinplned and doing well, follow my routine is so boring, this also tells me I am in danger, the temptation to not get boring is so high, so I may walk away into those unknown zone again, just like Nemo Fish, his Dad told him not go far, but he does.

I was trading NQ yesterday, based on my analysis, I should buy at the closing at 2808.25 (overnight support), when it hit there, a funny thing in my mind pop up "NG is at 10;30am inventory report", so I did not buy and moved away from NQ, sat there wait NG report, the report came out, NG shoot and big drop, then up quickly, I have a vague idea of NG should go up, it was fast, I forgot about my signals and my plan, jumped in the quick up, bought at the top, then waited and waited, saw it almost hit my stop loss (mental), the day's low 3.365, then waited and waited, and until it cleared my entry, wasted lots of time in waiting, almost the whole day!

DISCINPLINE is hard: do what I should do is hard. sometimes maybe the temptation to see "what is going on", sometimes maybe the fear " does my idea work" negative thought, sometimes just the rebelling thought....
 
Quote from Badeco:

Hello All,

Almost two years ago, I have posted a first message on this forum, that I re-quote here:


*******************************************
"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.

*************************************************

After thousands of hours analyzing, testing and doing my best to avoid mental and methodological mistakes, I can now say that my trading is quite profitable.

So, for those that have been trying but have not yet found a consistent methodology to trade profitably I would like to give my little encouragement:

It may take much, much more time and effort that you thought initially, but don't give up, if you persevere and are open minded to see what the market is telling you and to develop the methodology and discipline to take only the trades/set-ups that you have validated statistically that are profitable, you will get there.

Good trade and good luck to all.
More...

Good to see you stayed strong and made your way in the trading game.

Hats off to you.
 
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