Is day trading worth it?

wiesman02 said:
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.
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Better yet, the demand is for proof that the students (still learning the particular method in sim accounts) are killing it :eek:
 
Daring said:
You can't criticize something you know nothing about.

However yours is public and based on the results of your students, marginally profitable, which is not good enough.

The edge in your technique is minuscule.
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So show me. What's your trading plan? I can figure out your results all by myself if it's clear enough.

As for the "edge" in my technique being "miniscule", the truth of that would depend on how well you understand it.

Explain it to me.
 
Daring said:
You can't criticize something you know nothing about.

However yours is public and based on the results of your students, marginally profitable, which is not good enough.

The edge in your technique is minuscule.
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Pffft. DB has a win-rate of 80% and earns 10x his losers. He would own the entire global money supply in less than a year's time.




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Daring said:
I dont need trading help[...]

At first, it all looks like altruism, so you thank the people, you are in awe. When you dig a little deeper, you find yourself wasting your time, reading about crap that you already know, that either does not work or it's marginally profitable.

Why the anger? Time wasted, back to the charts, the only true learning playground.
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You can place the people on ignore who tell you crap you already know.

Or you can be altruistic and tell us (in general terms) how you trade using TA. Your method clearly works or you wouldn't be all in a tizzy over other traders teaching other aspiring traders methods that clearly don't work.
 
Laissez Faire said:
As a swing trader, I took roughy $5000 to $35 000 in a year before I had read a single book on trading. I withdrew most of it.You can read it here:

http://www.elitetrader.com/vb/showthread.php?t=278064&highlight=fortune&page=5

As a day trader, I started out losing on my first shot at trading. At this point, I had read over 100 books, done a lot of testing, but not enough simulator trading. I was also using too much leverage.

Stopped what I was doing, did a massive amount of backtesting and simulator trading. Re-wrote my trading plan.

Came back and made a killing as a one lot trader for a good period. Sized up and took huge losses in a short period of time.

My story is longer than that, but the point is, there's a difference between being profitable in a short time period, having some winning trades and being consistently profitable year after year. It's much harder than what the gurus are telling you.

While some people may perceive me as being negative in this thread, I would rather call it being realistic and I'm actually sincere in my postings, since I don't want people to get their hopes and dreams too high and I hate people who's bullshitting others.

All I'm asking is a little transparency and honesty.
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That's it? That's your proof? We've gone through all this nonsense and this is the best you can come up with?

Amazing.
 
Laissez Faire said:
As a swing trader, I took roughy $5000 to $35 000 in a year before I had read a single book on trading. I withdrew most of it.You can read it here:

http://www.elitetrader.com/vb/showthread.php?t=278064&highlight=fortune&page=5

As a day trader, I started out losing on my first shot at trading. At this point, I had read over 100 books, done a lot of testing, but not enough simulator trading. I was also using too much leverage.

Stopped what I was doing, did a massive amount of backtesting and simulator trading. Re-wrote my trading plan.

Came back and made a killing as a one lot trader for a good period. Sized up and took huge losses in a short period of time.

My story is longer than that, but the point is, there's a difference between being profitable in a short time period, having some winning trades and being consistently profitable year after year. It's much harder than what the gurus are telling you.

While some people may perceive me as being negative in this thread, I would rather call it being realistic and I'm actually sincere in my postings, since I don't want people to get their hopes and dreams too high and I hate people who's bullshitting others.

All I'm asking is a little transparency and honesty.
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I read 100 books on golf but couldn't compete with tiger my first time out?!?!?!?!?

Can you tell me why not?
 
dbphoenix said:
That's it? That's your proof? We've gone through all this nonsense and this is the best you can come up with?

Amazing.
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And you're a blowout king. I am a bit surprised that you and LF aren't best buddies. Trading isn't for either of you. Looks like you'll have to fall back on your Harvard degrees in astro.
 
Daring said:
You can't criticize something you know nothing about.

However yours is public and based on the results of your students, marginally profitable, which is not good enough.

The edge in your technique is minuscule.
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Am I the only one whose brain completely locked up while reading this?

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