If you are a day trader with a persistent edge, are you a millionaire yet?

longandshort said:
Can you quantify your success? How much of your trading profits would you attribute to technical analysis? Be honest...

Professional investors and traders do not use technical analysis like retail does. Reviewing a chart, or taking a look at the volume profile before a trade is part of due diligence. But trying to trade breakouts and scalp on a 5 min candle because of XYZ combo is a fools errand.
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100% of my trading is based on price action.

I look for stocks that are going up. I have to look to see exactly what they do to make money.

All the info I need is on a chart.
 
If the same question was asked a year or two ago if your a millionaire yet, it would be interesting to see how many have since blew up - it happens a lot more than most would think.

The most dangerous times in my trading where my deepest nightmare plunges began was when I was feeling way to smug about my profits/acct size.
 
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deaddog said:
100% of my trading is based on price action.

I look for stocks that are going up. I have to look to see exactly what they do to make money.

All the info I need is on a chart.
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Well geez you must be super rich then. If all the info is in the price then you’re assuming strong form efficient market hypothesis, and therefore, your 5 min charts are random and cannot be a source of persistent returns. Which one is it lol.
 
Tradex said:
I am warning you, any other "cute" comment like that and you will end up in my Ignore basket, I have zero tolerance for that kind of rude behavior.
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Stop posting bullshit then. :thumbsup:

If after reading 400 books on trading, you’re still trying to trade 5 min candles, then what exactly is it that you have learned? You have an edge in predicting what the next 5 min print is? What is that source of edge? An indicator using time volume and price (everyone has access to this information, this is not an edge)?
 
Nope I'm not super rich.(about the same as you) I spend a lot of what I make. And I suppose I'm in the wrong thread as I'm a swing trader. Daily charts for the most part.

I did have some success day trading years ago but found I can make about the same swing trading and have a lot more time for other things.

I said all the information I need is in the charts.
 
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