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

[wmwmw]

If you were to measure labour hours, (energy expended), day trading would underperform imo.

Not really.
Most people think daytraders are scalpers.
A scalper makes small profit on each trade but cost more energy.
But there are other kind of daytraders.
I have an ES daytrading strategy and a forex daytrading strategy.
ES strategy only make 1- 3 trades each day. Forex trades are a few trades more but both do not need me to watch market closely.
I have hard number on my system to help me decide when to enter and exit.
Each trade have a stop set as soon as the entry is placed. Both entry and exit are stop orders.So I can move my attention to read novels or watch sport games. I only need to occasionally come back to see if my stop is hit.

 

[wmwmw]

Here is your proof - Mark Minervini is an equity swing trader leading the contest competing with >300, beating options & futures traders with a real acct >$1M. He has won before in 1997.

Nothing against day trading - I do both myself so not biased. It's not very easy to beat a good swing trader in a market on the move with all the ON gains.

View attachment 261380

View attachment 261377

I just research Mark Minervini and I believe the number 182.6% is for his annual profit.
I guess this achievement can beat most scalpers but I am pretty sure it falls far behind other type of daytraders.

 

[deaddog]

Swing or long-term traders can also spend the entire day looking for their winning trading setup, on hundreds of financial instruments.

True but they don't have to.
I spend an hour a day max. Trade one market, rarely have more than 5 or 6 positions.

 

[deaddog]

I just research Mark Minervini and I believe the number 182.6% is for his annual profit.
I guess this achievement can beat most scalpers but I am pretty sure it falls far behind other type of daytraders.

It's tough to compare because there are few audited records. I'm not sure a day trader has ever won the trading championship. You would think one or two would enter.

 

[tiddlywinks]

Can you think of any reason for this except that I assume more trades from a day trading system.

Today, NQ had an RTH linear range of 185 points. NQ closed up 111.

The number of points traveled/traversed between 9:30am and 11am EST was over 400 points.

 

[themickey]

I'm currently in 55 positions with another 30 waiting to enter.
Money is made or lost without hardly any labour, as mentioned previously, overnight holding is often advantageous, no trading required.

 

[Tradex]

I spend an hour a day max. Trade one market,

What time frame are you using?

With daily or weekly time frames you can spend weeks or months waiting for a trading signal, so how can you possibly spend "an hour max" and find the trading pattern you are looking for in just one market??

 

[longandshort]

If you send me the strategy, I can backtest it lol.

 

[wmwmw]

It's tough to compare because there are few audited records. I'm not sure a day trader has ever won the trading championship. You would think one or two would enter.

i don't think daytraders need to play a contest.
I don't think a contest winner represents the best trader in this world.

 

[newwurldmn]

what's the strategy? I run the backtest on my bloomberg

If rand() then buy
Else sell