How many daytraders are still out there?

le140 · Jan 21, 2003

vorzo,

that's y the game is so fun.... watching that account grow with the need to be right and then u are wrong so u need to come back another day to get it right.

Imagine if everytrade u evermake would be right? how boring is that being the richest man in the world :-)

darkhorse · Jan 21, 2003

Quote from FasterPussycat:

daytrader doing just fine here. darkhorse, tough week man?? sorry to here it. never heard so much negative vibes. bad moon risingyeah there are easier ways too make a livin but you aint that goodlooking

LOL

that's funny coming from one of the most pathologically bitter posters to ever grace the pages of ET (though Tampa is in the running for your crown these days)

if you're doing fine i'm glad to hear it (though i dare say your credibility around here is a little sketchy)...

my statement referring to easier ways was in regards to attaining financial independence, not making a living... two different things...

as far as negative vibes, i'm not sure what you're talking about... daytrading can pay the bills but it's a grind in my opinion- as nitro pointed out, you generally end up paying your broker more than you pay yourself- but if that's what floats your boat then more power to you...

some people intone that they enjoy daytrading for the freedom and the fun, but I think the truth is something closer to Joey Knish in Rounders... if you take it seriously and you have real bills to pay it eventually becomes just a job, no matter how cool or hip it seemed when you first stepped into it...

which is why I place importance on financial independence rather than making a living, so that eventually there's no need for a grind at all... if i want freedom and fun, i'd rather utilize my resources to get to the point where money ceases to be a concern of any kind...

i just figure that if i am going to devote myself to the markets, i might as well walk the most lucrative path, which means developing strategies that are highly scalable and soliciting OPM. work is work, so if i'm going to work hard anyway, why not go for the long ball and employ a broader cross section of my talents while i'm at it, getting closer to the point in life where work truly becomes whatever you want it to be.

p.s. you're right about the looks, it's tough bein' six foot two and broad shouldered...

TheCaracal · Jan 21, 2003

Quote from le140:

I have a very decent day job, hi pay and the freedom to do what I want and yet I want to eventually leave this job and daytrade fulltime.

Can't wait to see if you still love DT when those "profits" have to pay for your food, clothes, car, mortgage, household emergencies (lets see, I have had to get a new furnace 5K, Had two 4 story trees collide in my backyard, cut and remove 5K, new roof 5K, wife asked if we could redo living room, "sure I am on roll" 7K, then 4 month losing streak!), etc, etc. blah blah!

Trust me my friend your excitement will be altered radically when you do this w/o the backup income. Trading is "easy" when it's not your sole source of income.

Something to take into consideration..make sure you have a nice fat cushion to fall back on..cause when you screw up, there ain't no paycheck coming in!

Good luck

le140 · Jan 21, 2003

Actually I have been using the market to pay my bills because one job just not enough :-)

so i do know what it feels like to the real daytraders. Still loving it even when I have draw down. Chalk it up as the cost of doing business. it's a challenge to me to make that account new hi every month.

The important thing is, at the end of month, I have enough to take out and pay my bills.

as soon as my account grows big enough, I will say goodbye to my other job :-)

goldenarm · Jan 21, 2003

Quote from OVERtheLINE:

Its such a easy way to make a living

You're full of crap. Being a consistently profitable daytrader is probably the HARDEST way to make a living. And to be consistently profitable, you have to put in hours of research after the close. There are no shortcuts.

TheCaracal · Jan 21, 2003

Quote from le140:

Actually I have been using the market to pay my bills because one job just not enough so i do know what it feels like to the real daytraders. Still loving it even when I have draw down. Chalk it up as the cost of doing business. it's a challenge to me to make that account new hi every month.

The important thing is, at the end of month, I have enough to take out and pay my bills.

as soon as my account grows big enough, I will say goodbye to my other job

Well, then I admire your enthusiam.

Just a battle scarred vet trying to keep you honest!

Good trading
David

OVERtheLINE · Jan 21, 2003

Quote from goldenarm:

You're full of crap. Being a consistently profitable daytrader is probably the HARDEST way to make a living. And to be consistently profitable, you have to put in hours of research after the close. There are no shortcuts.

who said anything about shortcuts?
who said anything about not working hard?
It was a comparison to most other professions.
I would never minimize the skills and experience needed to be consistently profitable.

eat shit

stockerup · Jan 21, 2003

Quote from gaj:

why daytrade?

if i make a daytrade, i have ZERO risk overnight.

I agree.

rtharp · Jan 21, 2003

Quote from andrasnm:

I posted a Poll.

poll will be off

As guys no longer trading will not respond.

goldenarm · Jan 21, 2003

Quote from OVERtheLINE:

It was a comparison to most other professions.

Oh...so you meant that daytrading is very easy compared to MOST other professions. This statement alone shows that you're clueless.