Is day trading worth it?

green.green said:
You've hit the nail on the head. There is a divide here that is quite clear if you stand back. (For this post I'm going to assume that everyone that says they trade does so).

On the one hand you have the predictors (DP et al). Although these guys make calls they don't seem to share their methodology. They make money but predicting the future is hard. If a person can make more good calls than bad calls over the course of their trading career (and use good money management) you can make a lot of money.

On the other hand you have the reactors (NoDoji and DBP). They don't make calls, probably aren't particularly good a making calls and don't care about calls. They watch the price action unfold and trade in reaction to what happens. I personally believe that this is an easier approach to trading.

Now the predictors have worked and continue to work very hard to trade the way they do. In addition when everything boils down to being right or wrong it either builds your ego or destroys it. They are successful and they can't believe that there could be a different way to doing this.

The reactors, on the other hand, don't care what the market does. They don't feel right or wrong if the market goes up or down. They try to keep their ego on the sidelines because that little guy doesn't help with this style of trading.

I suspect that most beginning traders and most failed traders start off as predictors. All the objectors in this thread shouting for DBP to make a call ahead of time are missing this distinction.
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Mostly a matter of ego.
 
I understand why DB doesn't post a call, how about a real time entry and exit then? How about the results of the trades? you see nothing is shared other than GURU CREATING RHETORIC.
 
helmholtz said:
I understand why DB doesn't post a call, how about a real time entry and exit then? How about the results of the trades? you see nothing is shared other than GURU CREATING RHETORIC.
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And ten padawan learners all posting the same entries...
 
At the UL

0930 BO

0931 Those who are actually watching price move will note that it dropped back into the TR. If one follows the righttick of the bar, he can see what's going on in smaller intervals.

0934 Back at the mean. A failed BO. No trade. Now traders will most likely look for trades on the underside.

Having fun, cornix? :)

0939 Another upside try
 
dbphoenix said:
Mostly a matter of ego.
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Well, GG is right IMO. There are people who play it more "Soros way" based on their view of the future. And there are reactors indeed, who just follow what market tells them.
 
green.green said:
And ten padawan learners all posting the same entries...
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:D

May I suggest learning from folks who are proven entities with proven success? They are out there, all you need to do is look. Why hitch your wagon to to nothing but rhetoric when there are proven folks who will share with you?
 
green.green said:
You've hit the nail on the head. There is a divide here that is quite clear if you stand back. (For this post I'm going to assume that everyone that says they trade does so).

On the one hand you have the predictors (DP et al). Although these guys make calls they don't seem to share their methodology. They make money but predicting the future is hard. If a person can make more good calls than bad calls over the course of their trading career (and use good money management) you can make a lot of money.

On the other hand you have the reactors (NoDoji and DBP). They don't make calls, probably aren't particularly good a making calls and don't care about calls. They watch the price action unfold and trade in reaction to what happens. I personally believe that this is an easier approach to trading.

Now the predictors have worked and continue to work very hard to trade the way they do. In addition when everything boils down to being right or wrong it either builds your ego or destroys it. They are successful and they can't believe that there could be a different way to doing this.

The reactors, on the other hand, don't care what the market does. They don't feel right or wrong if the market goes up or down. They try to keep their ego on the sidelines because that little guy doesn't help with this style of trading.

I suspect that most beginning traders and most failed traders start off as predictors. All the objectors in this thread shouting for DBP to make a call ahead of time are missing this distinction.
More...

i love it when guys lament about those who do not share their methodology. would anyone care to offer a common sense reason why guys like me do not share?

speaking for myself, i am not going to give up what took years to create to anyone but my family..and even select family members at that! only reason i post blotters is to possibly show some guys there is hope in this field.
 
cornix said:
Well, GG is right IMO. There are people who play it more "Soros way" based on their view of the future. And there are reactors indeed, who just follow what market tells them.
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Cornix-- the problem is reaction requires carry thru, ie momentum to work. WHen you react to a certain thing happening you are assuming that the move will continue to carry thru enough to earn profits above your commission--therefore it is prediction.

Predicting, trading what you think rather than what you see--- on the other hand, enables the trader to enter a trade prior to the "reacting catalyst" therefore the ability to catch 100% of the move if it occurs.

Reacting is far too slow in today's markets-- as the move is often over by the time one reacts to it.

Peace
 
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