Is day trading worth it?

[Alpha Trader]

xvideos, hilarious. I am on the iPad, but it think that tab shows that the poster is actually Tim Sykes. It looks to be a logged-in Twitter account (in that name).

Convexx, you are SO right!!! So JTrades = Tim Sykes!

Is it insulting that I laughed at him following T Sykes?!

The Xvids now makes sense. I did hear that he was a big fan of intimate videos; now we know what he exactly likes. Please send an extra bottle of lube this Christmas guys

 

[Tonkadad]

My wife asked me if I wanted to join AAA the other day, (as I was bent over changing the flat tire on our car) is she trying to tell me something?

 

[toolazy]

Some of his 'magic' was the scale of the house he was building. I remember it very well, and was very impressed at the time. Anyone building a place this big must be trading very well...... The bridge to the front door must have been built on 75 foot pilings.

The photos in this article do not do it justice.

http://www.priceypads.com/bolze-mansion-sells-for-1930000/

that is funny. this kind of money buys 2 bedroom apartment in better Sydney suburb. chinese guy snaps it over internet, via automated robot the moment add appears, so you cant even buy it.

as a trader, he was crap. too cheap.

 

[cornix]

Now Cornix's story seems very similar........ He claimed to trade for a living, said somewhere he made 100-200 pips a month, and as I recall began talking about how he had started an OPM project last year. Now a year later and also after a couple of unprofitable livecall journals........... he is quitting daytrading. It seems strange that someone who appeared to be so consistent suddenly couldn't make money as soon as some accountability entered the picture. And like indextrader, there was never any track record for his clients to see. There were occasional charts with entries/exits marked, and a third party site which showed a few weeks worth of trading, and all of which seemed to indicate he was quite profitable, but never an uninterrupted run of data. It just seems odd that like night and day, as soon as the light of day is shown on things and actual real trades had to be made........ like indextrader the profitability is gone.

Have to correct two points here:

I actually was profitable during the few months of live calls in chat and first three months of OPM. Nearly not as profitable as I planned, but nevertheless. Then things piled up (mostly stress and other psychological factors I believe) and performance dropped below the watermark indeed. That is point one.

Now point two: I do not quit day trading. Just see it as not the only (and probably not the very best) way to make money. But nevertheless practice every day for a couple of hours to find my profitability again. Even better than before, it is now an interesting challenge for me, not the "must" thingie (I have a problem with my subconsciousness treating nearly everything except what I do for fun as coercion, so I feel much better when I do something cause I like it and not because I must do it ).

 

[toolazy]

why not having simple dumb filter for daytrading:

IF 10 day ATR < 100 ticks no day trade

IF 10 day ATR >= 100 full on.

that is what I have.

 

[doggyfx]

Not every trader use Average True Range indicator (if you talk about that). Not sure that it makes sense holding positions on forex overnight. Scalping with full or double lot during high volatility, using S&R - golden "backbone" for almost every scalp or day trading guy. It can reach 100 times - the number of positions I can open and close in a day. Though this plan is seemingly plain and simple, I could my find my feet only joining Hotforex, strange enough other brokers dismissed me for that practices..

 

[Scaleout.Scalper]

why not having simple dumb filter for daytrading:

IF 10 day ATR < 100 ticks no day trade

IF 10 day ATR >= 100 full on.

that is what I have.

It's too limited, one must learn to trade ranges as it's the most common market state particularly of mean reversive instruments.

 

[johnny_utah]

why not having simple dumb filter for daytrading:

IF 10 day ATR < 100 ticks no day trade

IF 10 day ATR >= 100 full on.

that is what I have.

Your filter has some validity but there are ALWAYS intra day opportunities. June was the perfect example... Even with the VIX near multi year lows, I was able to make a few ticks here and there. The key is to lower your expectations accordingly. While in June I was happy when I booked 4 ticks in a day, currently 8-16 ticks avg is definitely possible.

 

[tiddlywinks]

It's too limited, one must learn to trade ranges as it's the most common market state particularly of mean reversive instruments.

The most common market state
+1

 

[JTrades]

Clearly you've got a rare gift unavailable to most. Ensuring that the edge is dark but the support is transparent is crucial to sharing your P&L without revealing your edge.

With regard to the phrase "avg down": The professionals use the phrase "price improvement".

Other than that, looks great, First-Timer!

Nice of you to say so - it means so much to receive +ve feedback from a guru!!! You did well too.