How long did it take for you to be profitable in daytrading?

[Steve Tvardek]

This Batman kid posted on another thread that he doesnt even trade and is still a student in school.

So of course a guy with zero trading experience who is probably under 22 yrs old knows that its just not possible to make money intraday.

Quote from sdtrader:

San Diego.

But even if I lived in Omaha, Nebraska....you think you could make a good living off of 50K a year? Guess I just have a much different definition of a good life????? Which is no surprise.

Side note. I thought that Batman kid was being facetious until I read the next response. I love it when people tell me and the many more people I have known the last 5 years that very much make a good living intraday trading...."really aren't doing it".

Come on Batman. Escape from that very narrow reality of yours.

 

[sdtrader]

Quote from gerry875:

why is it NO SURPRISE to you?

whatever - it depends on whether you have family, etc.

apart from that - if good life to you means several big cars - a multimillion$ house, boat, yacht, learjet, etc. - then 50K a year will be a problem - yes of course.

but i think you will find a lot people - also here on et - who will tell you that at least for one single person 50K a year can make a good life possible.

but if you make 50K per year with trading (consistently) - then you should also sooner or later be able to make much more than that anyway.

Did not mean it as an insult. I meant its no surprise b/c I know I have much higher standards for a "good" life. Was born and raised in a wealthy community just outside San Diego. So for me, 200K a year is really nothing. I know its somewhat distorted view of reality. I have been consistently profitable for 5 years comfortably. And barring a disaster of epic proportions...will be very comfortable at the end of this year.

Sorry if I came off as insulting. Wish I could convince myself to move where the Cost of Living isn't so high. But those are the choices we make.

 

[sdtrader]

Quote from Steve Tvardek:

This Batman kid posted on another thread that he doesnt even trade and is still a student in school.

So of course a guy with zero trading experience who is probably under 22 yrs old knows that its just not possible to make money intraday.

That explains it. The last time I really bothered posting on ET barring a couple one timers was a couple years ago when this whole board was convinced day trading was over. Got very tiring and quite boring. Some people only see their very narrow reality and convince themselves its the truth.

As summer approaches, hope I don't fall into an ET trap and start checking this site again.

 

[trading_time]

Quote from Batman28:

i tel you something and go write it on your wall.

there is no such a thing as a successful 'day trader'. don't waste your time. it don't exist. and don't waste your life.

no day trader is ever successful. maybe just for the day. if u want to trade ask yourself for how long do u want to be a winner.

day trading = losing. it's like gambling. and those that think they're making money they're addicted and drunk. in the long run they don't have a cent. people here who vote they are, have a perception.

and yes, ofcourse if u put 100 monkey in a room 1 might call ur name. but thats how arnold is a US senator. shit happens. call it luck. but it don't necessarily mean success. and don't live ur life on the hope of such a rare event that doesnt even last.

the only successful day traders i know r market makers. but that's a whole different thing.

ooo. day trade. make easy money. sounds good to ur ear huh?

trust me on this, for once, don't believe u can success at day trading. ye believe u can become rich trading. but not at day trading. sometimes it's very important u recognise something that cannot be done.

write it on the wall.

All your doing is down playing it.. your not giving any explanation that counts for anything? Do you realize that?

"YOU CAN'T CAN'T CAN'T DO IT"

thats means jack to me....

 

[Batman28]

look, i'm not a trader, I've done a little simulation things before etc. but im not saying what I think. im saying from what I've seen .. and also from what i've heard from some successful pro traders.

if u actually do ur own research, you'd know urself that day trading is gambling. unless ur a market maker and always have a instrument range in stock.. that's how u make money. to be merely speculating on the intre-day movements without any holdings you're going no where. sure u may have some good days, but over time you're losing all ur money. there are 5% 'daytraders' that are apparently profitable over time. do u really think u're one of them?

the point is this, if u want to be a trader, trade like the professionals. that means not day-trading. again unless ur a market maker. successful day traders actuall mimick wot market makers do.

i don't see how my experience in trading has anything to do with it.

if u want to trade successfully, and make serious money, spend all ur energey looking at the longer term trends that actually make sense.


i didn't say don't daytrade. i just gave advice and don't want you guys to lose money. if people don't day trade, alot of 'people' won't be making money.

 

[Steve Tvardek]

"look, i'm not a trader"....then please stop posting about trading. Its a little insulting to have some guy (you) tell me that I cant make money in a profession that I make money in. You are not there everyday, you have no idea what goes on so I suggest you open your eyes to reality and see that there are, indeed, many guys who make a good living (200K+) daytrading. I personally work with about 15 guys who make 6 figures daytrading. Of course not everyone makes money daytrading, but the same goes for longer term traders. Most of them lose all their money; some do extremely well.

Whats your point exactly? We all know daytrading is risky. Nothing new there. But please, stop making wild claims like this. You are an outsider to the trading world. You dont see me giving Kobe Bryant three point shooting lessons or Barry Bonds batting tips do you?

Quote from Batman28:

look, i'm not a trader, I've done a little simulation things before etc. but im not saying what I think. im saying from what I've seen .. and also from what i've heard from some successful pro traders.

if u actually do ur own research, you'd know urself that day trading is gambling. unless ur a market maker and always have a instrument range in stock.. that's how u make money. to be merely speculating on the intre-day movements without any holdings you're going no where. sure u may have some good days, but over time you're losing all ur money. there are 5% 'daytraders' that are apparently profitable over time. do u really think u're one of them?

the point is this, if u want to be a trader, trade like the professionals. that means not day-trading. again unless ur a market maker. successful day traders actuall mimick wot market makers do.

i don't see how my experience in trading has anything to do with it.

if u want to trade successfully, and make serious money, spend all ur energey looking at the longer term trends that actually make sense.


i didn't say don't daytrade. i just gave advice and don't want you guys to lose money. if people don't day trade, alot of 'people' won't be making money.

 

[jho]

:eek: Holy $#!+ Batman :eek:

Batman - Saving the Gotham City day traders from blowing out their accounts.

Ugghh I don't even know where to start...

Quote from Batman28:

look, i'm not a trader, I've done a little simulation things before etc. but im not saying what I think. im saying from what I've seen .. and also from what i've heard from some successful pro traders.

if u actually do ur own research, you'd know urself that day trading is gambling. unless ur a market maker and always have a instrument range in stock.. that's how u make money. to be merely speculating on the intre-day movements without any holdings you're going no where. sure u may have some good days, but over time you're losing all ur money. there are 5% 'daytraders' that are apparently profitable over time. do u really think u're one of them?

the point is this, if u want to be a trader, trade like the professionals. that means not day-trading. again unless ur a market maker. successful day traders actuall mimick wot market makers do.

i don't see how my experience in trading has anything to do with it.

if u want to trade successfully, and make serious money, spend all ur energey looking at the longer term trends that actually make sense.


i didn't say don't daytrade. i just gave advice and don't want you guys to lose money. if people don't day trade, alot of 'people' won't be making money.

 

[QQQBALL]

Quote from dividend:

plenty of grandmas making $9,000 a month. don't give up hope.


<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1087957>

RFLMAO!

 

[Batman28]

lol u guysss hahahaha.. som of u get so boiled up.. get a cold drink chill for god sakes. calm down..

i told u many times im just sayin wot i know it don't mean it's true calm down, im not insulting u.. why get angry? i dont get it. i wasnt bangin anyone lol i was just sayin wot ive read and heard, and if im wrong ok cool.

as far as im an outsider. I've been on IB trading floors, visited many market makers, have met very successful fund managers, and have read on the subject too. im not a trader, i dont have a cent to trade, and if i did i'd consider myself an investor. i know for sure SOME day traders make money over time. but the chances is so slim that I thought i point it out. i saw some votes that took them 7 years to be profitable. 7 yrs of their life wasted. and most likely they'll lose it on the 8th. im just given another point of view, if u can't handle it don't read it. if u're actually successful at day trading then say so, tel me how you've become successful wot's the trick.. u see all these banners on the net make money day trading, play poker bla bla bla.. only 5% people actually make money in this business. so I thought i point it out, because as far as it goes, the business is "Day trading" and if u aint profitable in ur first year, it's not for you. this is good advice. (for those who are successul, don't be offended).thanks.

 

[blufftrader]

Took me 2 years to become profitable and I now make 10-20k a month day trading no over nights and I know someone who took 4 years and he makes over a million swing trading. Everyones learning curve is different who are you to say give up after 1 year and 7 years is not a waist of your life if your learning what you love just like someone investing there money in college nothing comes over night Trading wasnt made to be easy and it will cost you some money and time to learn just like any other education. its always failed traders or people who know nothing of trading who make these comments.