Is day trading worth it?

[Daring]

Ok, so considering no student has stepped forward to confirm it.

We can assume no student is killing it.

Remember, this is not about the Gurus themselves, this is about the ultimate test of system success, the proof that a student is killing it with their teachings.

Such proof does not exist.

Conclusion, marginal profits at best case scenario.

 

[wiesman02]

Too much negativity on these boards. If u believe u can get rich trading the markets with all your heart, then you shall succeed. Rocky balboa said it's not how hard u can hit, it's how hard u can get hit and continue getting back up.

I'm beginning to see all the negativity and unhealthy thinking that is around these boards. ET has been good to me for many years and has helped my career immensely. But it's beginning to outlive its usefulness as I don't want to get caught up in the bad energy.

There are many saying you can't do it on here, others looking for confirmation, and the few trying to persuade the many to see the light.

Demanding proof that someone is killing it in day trading is akin to going on some golfing forums and demanding proof that you can shoot sub 70 rounds on average. Few can do it, and even fewer give enough of a crap to prove to the masses that it's possible by posting on a message board.

 

[Daring]

Too much negativity on these boards. If u believe u can get rich trading the markets with all your heart, then you shall succeed. Rocky balboa said it's not how hard u can hit, it's how hard u can get hit and continue getting back up.

I'm beginning to see all the negativity and unhealthy thinking that is around these boards. ET has been good to me for many years and has helped my career immensely. But it's beginning to outlive its usefulness as I don't want to get caught up in the bad energy.

There are many saying you can't do it on here, others looking for confirmation, and the few trying to persuade the many to see the light.

Demanding proof that someone is killing it in day trading is akin to going on some golfing forums and demanding proof that you can shoot sub 70 rounds on average. Few can do it, and even fewer give enough of a crap to prove to the masses that it's possible by posting on a message board.

Depends how you look at it, at the same time there is a lot of gullibility which tends to attract sharks, some notice it, and when we voice our opinion we sound negative, if that's the case, so be it, but it's the truth.

 

[smallStops]

Too much negativity on these boards. If u believe u can get rich trading the markets with all your heart, then you shall succeed. Rocky balboa said it's not how hard u can hit, it's how hard u can get hit and continue getting back up.

I'm beginning to see all the negativity and unhealthy thinking that is around these boards. ET has been good to me for many years and has helped my career immensely. But it's beginning to outlive its usefulness as I don't want to get caught up in the bad energy.

There are many saying you can't do it on here, others looking for confirmation, and the few trying to persuade the many to see the light.

Demanding proof that someone is killing it in day trading is akin to going on some golfing forums and demanding proof that you can shoot sub 70 rounds on average. Few can do it, and even fewer give enough of a crap to prove to the masses that it's possible by posting on a message board.

Your comment is valid. But you have to , in my opinion, guess what is behind.
May be a group of people have all started on the same approach to trading
and are documenting their experiences. If there are many of them trying the same path, it is expected that many will fail, and with failure a high dose of internalised negativity, then a high does of externalised negativity. They are just expressing their frustration at discovering the realities of trading - you have to pay your dues.
Now, as many of these have not "paid their dues", I can only marvel at the psychology in play when "instant gratification" is not there.

 

[wiesman02]

Your comment is valid. But you have to , in my opinion, guess what is behind.
May be a group of people have all started on the same approach to trading
and are documenting their experiences. If there are many of them trying the same path, it is expected that many will fail, and with failure a high dose of internalised negativity, then a high does of externalised negativity. They are just expressing their frustration at discovering the realities of trading - you have to pay your dues.
Now, as many of these have not "paid their dues", I can only marvel at the psychology in play when "instant gratification" is not there.

very well said, and so true !

 

[Daring]

Your comment is valid. But you have to , in my opinion, guess what is behind.
May be a group of people have all started on the same approach to trading
and are documenting their experiences. If there are many of them trying the same path, it is expected that many will fail, and with failure a high dose of internalised negativity, then a high does of externalised negativity. They are just expressing their frustration at discovering the realities of trading - you have to pay your dues.
Now, as many of these have not "paid their dues", I can only marvel at the psychology in play when "instant gratification" is not there.

This is valid, with one hole in your theory.

Not a single student killing it.

 

[Laissez Faire]

Great advise.

Not really.

CL had turned to chop prior to the stock market open and I noticed one of those triangle pattern setups had formed in the NQ.

Don't take this the wrong way, but regardless of what you're saying, this is all in hindsight.

I have not read all your posts, but you seem to always have the perfect explanation in hindsight, making it seem like you have a 100% success rate with these set-ups?

Don't they ever fail?

Using my own methodology consisting of price levels, prior OHLC, statistics of swing sizes, S/R, basic chart patterns, etc, I could always trace price perfectly perfectly after the close and tell a very exciting story of what price did from open to close. It made perfect sense. This is one of the reasons I believe profitable trading is possible, since there seem to be a order in how price moves.

However, when live trading, it's a different animal and at any given point in time, price can do a lot more than simply go up and down.

There's a hell of a lot of these straight-line journals cropped up, so I imagine you can find the answer?

Game has had a journal for over a year now I think? I've not tracked his results or even viewed his thread more than once or twice, so can't tell you if he's killing it or not, but maybe going over his daily results for the last few months would shed some light?

I'm not going to hold my breath, but I'll look into it. Thanks!

Too much negativity on these boards.

Yes, that's true.

But don't you think there's something called being realistic as well?

What a lot of people here are starting to realize is that there's a lot of bullshit on these boards. If you're currently a losing or breakeven trader, you shouldn't go around being a guru trader teaching your methodology to people and saying that as long as they put in the work and never give up, they will be rich.

How about being real and honest for once? That's not synonymous with being negative.

It's a much bigger sin to lead on gullible people and give them false hopes and dreams.

 

[niko]

Too much negativity on these boards. If u believe u can get rich trading the markets with all your heart, then you shall succeed. Rocky balboa said it's not how hard u can hit, it's how hard u can get hit and continue getting back up.

I'm beginning to see all the negativity and unhealthy thinking that is around these boards. ET has been good to me for many years and has helped my career immensely. But it's beginning to outlive its usefulness as I don't want to get caught up in the bad energy.

There are many saying you can't do it on here, others looking for confirmation, and the few trying to persuade the many to see the light.

Demanding proof that someone is killing it in day trading is akin to going on some golfing forums and demanding proof that you can shoot sub 70 rounds on average. Few can do it, and even fewer give enough of a crap to prove to the masses that it's possible by posting on a message board.

I agree with you totally, I don't see the point of being negative, if most people cant make it in day trading it doesn't mean "IT CAN´T BE DONE". After all is like everything else (how many Nascar drivers or how many NFL superstars do you know).

Now, the point is that some will make it, (I am not sure I will be one of those ) and most will not, and most will not, not because it is impossible, but because is too hard, and is not the trading part that is too hard is what is inside the minds of people what makes it hard. Is fear, is greed and is a lot of "baggage" people bring in to trading that make them fail.

I have been at this for much longer that I expected, I thought at first that a "holy grail" system was gonna make me a superstar, but then I had to face reality, I had to do a lot of homework and change my way of thinking before I could start seeing the light. (And seeing the light does not mean you are out of the hole).

Thanks to God (is the only explanation I can find and I do believe in god, so..) I found someone who was willing to share all his knowledge about the markets with me (actually he has been doing that for over 2 decades to anyone who listens (read)) and I had the humility required to leave my ego behind and do as I was told.

If you think I am talking BS, it is really not my problem, If you require proof of my results you can wait a long time before I provide them (as in never), if you are a newbie, lost in the woods and want to find a way, give the SLA a try, the worst that can happen is that you learn to "draw a straight line"

If you don't believe me, well, that is really a problem of yours, not mine. And if you don't have something polite to say then don't say anything as I will just add you to my ignore list.

 

[Daring]

It's a much bigger sin to lead on gullible people and give them false hopes and dreams.

I wish I could express myself as well as the guy above, this about sums it all up.

 

[Laissez Faire]

Thanks to God I found someone who was willing to share all his knowledge about the markets with me (actually he has been doing that for over 2 decades to anyone who listens (read)) and I had the humility required to leave my ego behind and do as I was told.

Questions please.

1. From 'doing what you're told', what have you achieved so far?

2. Who is this guy? Do you know that he's actually earning money or are you assuming he does, since he's eloquent and what he's saying makes sense? There's people who've been involved with the markets their whole life and never earned a buck, so don't take that as a guarantee.

As an example, market wizard Marty Schwartz was involved with the markets and actively traded for ten whole years blowing out his account every single year before he started making money.

I surely hope you're not referring to the guy who's selling 30$ ebooks through his private email account using paypal and use all his time on ET. Certainly not the profile of a millionaire trader or do you disagree?