Is day trading worth it?

k p said:
I decline to further interact with you. Name calling is unnecessary and you are clearly not here to learn or share constructively but to harass and bully.
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OK, go and sulk. It was Boolean, so to save face you can state you don't trade. Because nobody in their right-mind would accept this guy's BS at face value. No trades and nothing but hindsight calls.

No, I am not hear to learn about a serial-loser's super-system of failure. That's for the dozen of threads on this SLA shit.

He was banned (from ET) previously. Let's hope I can get to the gloating stage quickly when you fools begin to take heavy losses. PLEASE let him trade for you. Open an IB account and add him as a user. Pay him 20% of high water of he ever "gets it"
 
Pigsky said:
The answer is because he thought he would eventually "get it". Eventually he'd start making all the money his hindsight analysis and theories told him he should be making. There fore it was ok to use client funds for personal use and "live the life", because he would soon make it all back and then make things right again behind the scenes.... and no one would be the wiser.

The moral is: don't assume anything works until it produces consistent positive P&L with real live money. Vendors can lie and deceive. Other traders you talk to can lie and deceive. Hindsight charts can lie and deceive. But P&L always tells the truth. The 1099 is never wrong.
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Why is everyone so worried about DB's students? He's not soliciting their money and promising to trade it for a minimum return of X.

If DB provided a 1099 or a brokerage statement or live calls all day long, it would not help one single person trade better. I watched a guy generate over $100K on a $70K trading account one year and he called every trade IN ADVANCE with stops and targets. It did not help me one bit.

What DB is doing is getting people to keep a journal of their learning process, which is being managed in a replay and simulated environment.

I think you guys can relax at least for now; DB's students are probably safe for the moment.
 
k p said:
All the proof of his system working is already contained within the threads. Whether it works for you is a different matter. Trading is almost more about yourself, and I see this more and more every day.
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If anyone has you convinced that they can trade your money profitably, ask to see more than that as "proof". Don't let anyone trade your money without first seeing REAL proof (actual live cash money performance).

I can look the other way when I see attention seekers post about how great their charts work. But it really starts to bother me when I see people start throwing money at them. Money provides one of the greatest reinforcements in the world. And if the person is not forthright about their dealings, we often end up hearing about them in the news. Be careful, is all I'm saying.

Be smart. Choose wisely. Don't let anyone take you for a ride. You get in the drivers seat and take control.

Best to you.
 
Pigsky said:
The only thing that proves it works wonderfully is Form 1099-B that comes at the end of the year from your broker(s). I am not asking you to show P&L by the way. Just making a point, and I think this is why so many want proof. The other part is as I said before just water cooler gossip you see everywhere in life.

For example, I read a story of a guy who ran a fraud small time hedge fund...........
http://www.cleveland.com/court-justice/index.ssf/2014/02/copley_investment_manager_char.html
I read some discussions of him from people close to him, and they say he had a lot of trading knowledge and many people respected him. So the question was: why would he do this? Why do these dishonest acts when you know you cant keep doing it forever? Eventually you will get found out.

The answer is because he thought he would eventually "get it". Eventually he'd start making all the money his hindsight analysis and theories told him he should be making. There fore it was ok to use client funds for personal use and "live the life", because he would soon make it all back and then make things right again behind the scenes.... and no one would be the wiser.

The moral is: don't assume anything works until it produces consistent positive P&L with real live money. Vendors can lie and deceive. Other traders you talk to can lie and deceive. Hindsight charts can lie and deceive. But P&L always tells the truth. The 1099 is never wrong. This guy Davian was lying to himself, and to others. He put the cart before the horse and paid the price and so did those who trusted him.

I think what guys are saying here is not to troll those who wish to learn trading and to improve their financial situations. Just saying: the trading biz is truly bizarro world so don't take anything for granted.
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So let me get this straight. What you are really saying is some traders have lost so much $$$ in the markets that they finally just snapped and convinced themselves they have seen the light and are making one profitable trade after another. If true, this is a mental illness.
 
Grandluxe said:
So let me get this straight. What you are really saying is some traders have lost so much $$$ in the markets that they finally just snapped and convinced themselves they have seen the light and are making one profitable trade after another. If true, this is a mental illness.
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Lots of mental illness in this business. When I first started, I met a guy who would be convinced the market was going his way when it was really the opposite--- and this was a legitimate person not an Internet alias so you can only imagine!!
 
helmholtz said:
Lots of mental illness in this business. When I first started, I met a guy who would be convinced the market was going his way when it was really the opposite--- and this was a legitimate person not an Internet alias so you can only imagine!!
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Well, you know, when price is running against a position you strongly believe in then the market is indeed going your way because it's offering you price improvement!

:D
 
NoDoji said:
Why is everyone so worried about DB's students?
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I think deep down inside there is fear that since they couldn't make trading work, they cannot see someone else succeed, especially with a process that isn't all that complex. It makes you feel better about yourself when others also go down the same road of defeat.

And for those who are trading, perhaps they work so hard at it, that they want to be justified in their complex methodologies. No way does someone want to be in the same league as people who only draw lines.

Just an off the shoulder hunch though.
 
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