Is day trading worth it?

[Tonkadad]

Here is what I have learned from being on ET, in no particular order:

I don't have a trading plan.

I don't think in probabilities.

I don't use my time effectively.

I have a lot of negative thoughts getting in the way.

It is very hard to keep focus on the charts.

Price can go higher/lower than you think.

When price is trending, it will continue to trend more often than not.

Trading is not a battle.

Ego is not allowed.

That my biggest road block, are my thoughts.

That I am solely responsible for my outcome in trading and life.

That 1 trade doesn't make or break you.

 

[niko]

Here is what I have learned from being on ET, in no particular order:

I don't have a trading plan.

I don't think in probabilities.

I don't use my time effectively.

I have a lot of negative thoughts getting in the way.

It is very hard to keep focus on the charts.

Price can go higher/lower than you think.

When price is trending, it will continue to trend more often than not.

Trading is not a battle.

Ego is not allowed.

That my biggest road block, are my thoughts.

That I am solely responsible for my outcome in trading and life.

That 1 trade doesn't make or break you.

Then you are on track keep going

 

[Scaleout.Scalper]

This is valid, with one hole in your theory.

Not a single student killing it.

I've read some of your post history to try to understand your anger, but you don't seem to be in the camp that needs trading help, in fact you posted some great calls, albeit you seem to be the swing trading type not daytrader. However, if you are profitable and consistent, as you seem to be, why the anger? why the attacks on those trying to help ? If you alone think this is possible, why the pessimism, I'm a bit confused there.

 

[bigsnack]

To me, I can't see any type of written material really capturing what changed my view of the markets. If I ever got the point where I felt compelled to teach someone what I'm doing, I think it would have to be on a small scale (1-2 students) on the basis of a percentage of profits. That would see to be the fairest way in my opinion. Also, if the strategy can be put into practice daily and actually be profitable, that would certainly guarantee that the time spent would be worth it. I can't see flat fee or subscription based teaching working for me in regards to trading, since I would much rather be out in the backyard playing with my kids, or my dog, or even MYSELF for that matter.

 

[bigsnack]

I've read some of your post history to try to understand your anger, but you don't seem to be in the camp that needs trading help, in fact you posted some great calls, albeit you seem to be the swing trading type not daytrader. However, if you are profitable and consistent, as you seem to be, why the anger? why the attacks on those trying to help ? If you alone think this is possible, why the pessimism, I'm a bit confused there.

I think it's the perception of having the market completely figured out that might rub people the wrong way. Again, let's hear about some whopping loser calls. Let's be reminded that we are all human and cannot perform flawlessly at all times. Let's hear that there isn't a reasonable explanation for every trade that doesn't work out, that sometimes you either just suck or do dumb stuff. It's that flawless type of smell in the air that makes a lot of things on this board seem completely fake, fabricated, and almost comical.

 

[game]

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?

Let me jump in here, although I am sure Niko can answer these questions quite well.

Your tone suggests these questions are rhetorical, so let me cut to the chase.

You have a thesis regarding this entire matter. Being the aspiring traders that we are let's try to handle this in a Laissez Faire manner. I propose a bet with you regarding Niko's performance in the coming 12 months.

Perhaps you may want to review his trades from this week and his general evolution over the past 6 to 8 months before making a commitment. I though, am ready to wager.

We can hash out the details regarding the bet 'event' right here in the open to something that makes sense to both sides.

Sorry Niko - no pressure man

 

[smallStops]

...
Sorry Niko - no pressure man

hahahaha the poor lad, he hasn't asked for anything.
People making bets on his behalf.
It's quiet amazing how people love making plans involving other people
without having the individual agreeing beforehand.
By the way : why not do the commitment on your own name?

 

[game]

hahahaha the poor lad, he hasn't asked for anything.
People making bets on his behalf.
It's quiet amazing how people love making plans involving other people
without having the individual agreeing beforehand.
By the way : why not do the commitment on your own name?

I can do it in my name too. No problem. I was communicating the degree of my conviction by betting on someone else.

 

[smallStops]

I can do it in my name too. No problem. I was communicating the degree of my conviction by betting on someone else.

OK. So what are the practicalities of this bet ?
How much does the winner make?
What does the bet measure?

 

[dbphoenix]

I can do it in my name too. No problem. I was communicating the degree of my conviction by betting on someone else.

Or anyone who's interested could just read your journal, which is two weeks short of a year. Unless they want to believe that you've been lying all this time. In which case somebody has a serious problem that won't be fixed on a message board.

Not likely that the trolls will. So this will go on until the trolls get tired of it. And they will. Eventually.