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

longandshort said:
Do you know enough about econ to make that claim lol? Also, not sure if you understood what I said.

Strong form efficient market hypothesis: all information is baked into the price. There is no advantage in any analysis, stock prices move in random walks.

Semi-strong efficient market: most information is baked into the price. There is an advantage for experts. Stocks mainly move randomly.

Weak form efficient market: price is not efficient, analysis is highly advantageous.

If you think all info is in the price then you can’t trade based upon price.
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"Do you know enough about econ to make that claim lol? Also, not sure if you understood what I said."

Same for you on daytrading.
 
I also saw someone says , don't daytrade, don't trade forex, and don't use leverage.
I means it could be human nature to disbelieve something he himself could not find or could not do.
Is that a correct logic?
If I could not find something, it doesn't exist.
If I could not do something, everyone else can not do it.

So if I can not win a chess championship, nobody in this world can win it.
 
Tavurth said:
Do you really think he's gonna give up (one of) his edges to you? :)
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The reality is that he does not have an edge. Unless he’s an HFT sniffing orders or just trading momentum, I can almost guarantee that his cumulative pnl is negative and that his win loss ratio is low. And even if he was profitable, the likelihood of him beating a beta version of the strategy is slim (underperform vs benchmark). This is the sad truth about day trading using charts and limited data. You are not sufficiently informed to make a decision.
 
wmwmw said:
I also saw someone says , don't daytrade, don't trade forex, and don't use leverage.
I means it could be human nature to disbelieve something he himself could not find or could not do.
Is that a correct logic?
If I could not find something, it doesn't exist.
If I could not do something, everyone else can not do it.

So if I can not win a chess championship, nobody in this world can win it.
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I didn’t say you can’t trade with leverage, or fx, or can’t be profitable day trading. What I’m saying is that you can’t be profitable as a day trader by just looking at charts. In fact, looking at price should come later in your decision making process.
 
longandshort said:
The reality is that he does not have an edge. Unless he’s an HFT sniffing orders or just trading momentum, I can almost guarantee that his cumulative pnl is negative and that his win loss ratio is low. And even if he was profitable, the likelihood of him beating a beta version of the strategy is slim (underperform vs benchmark). This is the sad truth about day trading using charts and limited data. You are not sufficiently informed to make a decision.
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I have posted 3 daytrading strategies with their winning record.
One can not wake a person pretending to be asleep.
 
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