Is day trading worth it?

[helmholtz]

Whats more important the message or the messenger?

The message. But when the message is BS, the messenger must be called to task.

 

[ammo]

ammo, what necessary parts of this very large business do you think Db have left out? Are they crucial for success? I am not trolling; I am really interested in your view on this.

there is a macro,getting in and out on bars for dimes is very dangerous, this is where the hfts come to market to pick up bait for there fishing expedition,you start with the whole picture as much of it as you can understand,and work your way down to micro for entry exit. if the weather report says rain in the afternoon or temps dropping 30 degrees you prepare with a different jacket,simple stuff

 

[game]

No, beginners in trading are not always beginners in life, but still, there's many spectacularly smart people who've failed as traders while killing it in other areas of their life.

That's reality.

Regarding deliberate practice, the tough part about trading compared to any other field is that you're basically left on your own and don't even know what to practice. I'm studying math now and I have thousands of people who've walked the path successfully before me who's willing to help me. Still, it's pretty hard work and no one will do it for me. But at least I know that I'm getting advice from people who know what they're talking about.

In trading, it's perfectly possible to spend years working really hard at something that turns out to be futile in the end. Maybe you find a nice mentor who you trust, but further down the road you discover that he was dishonest.

Of course, one should always be positive and optimistic, as long as it does not turn into naivety and recklessness.

You had a bad experience with someone you trusted. I get that. But I feel that you are letting this experience distort all your observations. As much as people try to make trading seem like some sort of esoteric discipline, it is merely a subset of entrepreneurship, albeit with no barriers to entry.

Sam Walton built Walmart by observing his competitors and implementing their best ideas. A similar opportunity exists in trading. The fundamentals have been freely shared from Livermore to Soros and beyond.

 

[green.green]

He sells a book---plus he continuously misleads starting traders. If he just admits that he doesn't trade but sells a system But he prefers to make you think otherwise.

He sells a $30 book. So you think DBP is sitting around handing out free pdfs which details his approach to the market but his real ambition is to sell a $30 e-book which he doesn't mention?

As far as misleading starting traders - what does he mislead them into believing - that they need a plan which is well-tested? It's kinda sad that you had to create a new account so that you could make the same old tired points that have been made over and over again.

Let's see DBP shilling his system (from today) http://www.elitetrader.com/vb/showpost.php?p=3959842&postcount=532

 

[helmholtz]

He sells a $30 book. So you think DBP is sitting around handing out free pdfs which details his approach to the market but his real ambition is to sell a $30 e-book which he doesn't mention?

As far as misleading starting traders - what does he mislead them into believing - that they need a plan which is well-tested? It's kinda sad that you had to create a new account so that you could make the same old tired points that have been made over and over again.

Let's see DBP shilling his system (from today) http://www.elitetrader.com/vb/shurl...be he justs likes to bathe in your adoration.

 

[Laissez Faire]

You had a bad experience with someone you trusted. I get that. But I feel that you are letting this experience distort all your observations. As much as people try to make trading seem like some sort of esoteric discipline, it is merely a subset of entrepreneurship, albeit with no barriers to entry.

Sam Walton built Walmart by observing his competitors and implementing their best ideas. A similar opportunity exists in trading. The fundamentals have been freely shared from Livermore to Soros and beyond.

No, not necessarily, but I was influenced strongly by him during my formative years as a trader. Ultimately I went in a different direction. It was a good lesson. I'm not bitter or hurt by any means.

Remember that you are still simulator trading and are new to trading, so you shouldn't talk like you've figured it all out.

Even Livermore lost massive amounts of money and didn't believe that any man could 'beat the market', but on ET everyone is a millionaire and some never even have losing days.

Go figure...

Soros was never a retail trader. Let me know when you break the Bank of England.

 

[green.green]

Seems like you're swallowing EVERYTHING DB says, not just the methodology.

I'm not sure what indication I've given that I care about anything besides the methodology. I've stated several times that I don't care what DBP's motivations are, whether he is broke or even trades. I am purely evaluating the methodology which is all I can do.

You are studying math and (I presume) have moved on from trading. If you haven't I recommend that you do. It is impossible to achieve something that you believe is impossible (obvious I know). You seem to have reached this conclusion long ago. Its a personal decision and I don't fault you for it. Not everyone can be a success at this.

 

[green.green]

What else could be his motivation-- does he secretly show you evidence of success? What tests have you done on the claims? You sad little sheep person--?

There is no need for barbs. We clearly differ in opinion. I don't need DBP to provide any evidence of his success. I have been sim trading and back testing the method and have found it works and is adaptable. Its a process and I am just starting but even if I waste a few weeks testing the system and find its a bunch of hogwash I still haven't lost any money or paid for anything.

Now is your new account for the sole purpose of bashing DBP or perhaps you would like to discuss the methodology you currently use to day trade?

 

[game]

No, not necessarily, but I was influenced strongly by him during my formative years as a trader. Ultimately I went in a different direction. It was a good lesson. I'm not bitter or hurt by any means.

Remember that you are still simulator trading and are new to trading, so you shouldn't talk like you've figured it all out.

Even Livermore lost massive amounts of money and didn't believe that any man could 'beat the market', but on ET everyone is a millionaire and some never even have losing days.

Go figure...

Soros was never a retail trader. Let me know when you break the Bank of England.

It may not be the Bank of England. But I will wager that even if I do succeed, you will probably not change your opinion. And if I fail, it will be right here on ET, so I will have no choice but to acknowledge it.

As much as I disagree with your general attitude, there is no point in having a debate here, much less an exchange. That is why I proposed the bet. Helps to keep things crystal.

 

[drownpruf]

What else could be his motivation-- does he secretly show you evidence of success? What tests have you done on the claims? Maybe he justs likes to bathe in your adoration.

Surfer, stop using the (--). It's a cry for help.