Is day trading worth it?
- Thread starter Laissez Faire
- Start date
I'm sure Lazie Farie will not be able to resist a response to that. 
Yes. I like how Douglas explains environment of uncertainty and concludes we have to limit our own thinking to following the strict rule-based plan in order to become profitable traders.
Ironically, good mentor indeed doesn't have to be a golden champion. Many glorious sport coaches never were champions, many great professors did not get Nobel etc.
And the opposite: great trader (or other professional) may be an awful mentor.
Skill of teaching something is different from the skill of performance in the same something.
Relax, Donna. Have a laugh. Don't take yourself so seriously. It was meant as a fun joke in good spirits. I laughed. Bigsnack laughed. Maybe a few others as well.
In fact, I've done a lot of the type of analysis you're suggesting here and I do find that it's very beneficial. I'll admit that I didn't spend an enormous amount of time on triangles specifically, although I've certainly studied them, but I spent an enormous amount of time studying major and minor swing highs and swings lows through various time frames.
But you're of course naturally assuming that I never put in any work to try and figure out the markets.
If you feel that I've wronged you in any way, maybe you can find it in your heart to forgive me.
Best regards.
Yeah, that's true. I'm well aware of that.
At my former work place, I had two bosses. The most skilled one was the worst teacher by far.
Regardless, both were proficient in their fields and they had mentored other people who became successful before me.
If you're referring to fat football coaches and such, it should be said that while they may not be able to play themselves, they do understand the game. And most importantly, those fat coaches actually produced RESULTS.
And it may very well be true that a skilled trader will be a horrible teacher, but who would you rather teach from, the guy who's actually earning a buck trading or the guy who have nothing but losses to show for?
If I were to be taught by a losing trader, I would at least want to know that he had a produced results by having profitable students.
True. You expect either stellar performance from mentor or stellar performance of his/her students.
Yes. So with all the mentoring here on ET, it would be interesting to know if any of the mentors or students are actually killing it.
We've gone a little away from the original topic lately, so maybe let's get back on track.
For day trading to be worth it to me, I would not be satisfied with just barely breaking even.
And I would certainly want to make more as a day trader as I would a swing trader.
If you can make equally much or more money as a swing trader, with less actual work to execute your trading plan (that's excluding making the plan) on a daily basis, less stress, less bound to your computer, more time to do other things, the choice should be rather simple.
Some will say you can do both and I do agree. But for me personally, I think that at this stage I would have to choose one of the two, both due to time limits, but also capital issues.
For day trading to be worth it to me, I would not be satisfied with just barely breaking even.
And I would certainly want to make more as a day trader as I would a swing trader.
If you can make equally much or more money as a swing trader, with less actual work to execute your trading plan (that's excluding making the plan) on a daily basis, less stress, less bound to your computer, more time to do other things, the choice should be rather simple.
Some will say you can do both and I do agree. But for me personally, I think that at this stage I would have to choose one of the two, both due to time limits, but also capital issues.