Is day trading worth it?

[k p]

"Change their minds... ego" is complete BS. We'd all be trading nickel ranges if that were true. Dime-store trading philo. Ego allows us to pull the trigger. >80% of mkt participation is professional. GOOG traded in 5% range on a stock split. So efficient. No greed, fear or ego involved in that ticker today.

Neither of us have any idea if Mark Douglas makes a dime from trading.

I think you're trying to keep me active for kicks, but to humor you a bit more. No, I am exceedingly (to a fault) risk-averse. If anything, I dump too quickly.

I have actually enjoyed that you have been civil with me this second round.

If you believe ego is necessary to trading then this is something we clearly don't agree on, which should be fine as long as I make money and you make money.

I think if you are risk averse and can pull in incredible profits then this is quite the feat!

 

[k p]

"Change their minds... ego" is complete BS.

Oh.. just thought of this too. You are right in that trading maybe is mostly ego. But this is exactly why for you to be able to trade, you want to see the ego in the traders. When you remove your own ego you can begin to see the ego of others. This is also somewhat of a quote from Douglas!

 

[Magna]

I have got nothing against vigorous debate and spirited discussion. But it needs to remain civil. Today's posts have been cleaned up with many removed. Let's take it away from the personal here and get back to the topic of this thread. Thanks.


P.S. Just came across this post by Baron dtd Aug 30, 2013. He was explaining to someone why he was being banned. A word to the wise (which is a few of you here)...

What I'm finding bothersome about you is that you are excessively argumentative, have zero concern for how you are derailing threads, repeat your opinion over and over.... and over.... and over, and you are extremely narcissistic. It's almost as if your only agenda is to bring attention to yourself. If a thread was dedicated to you solely, ok, I could see you cutting loose on everybody. But virtually all of the threads that you get in personal pissing matches in have absolutely nothing to do about you. This is the second day in a row that I'm faced with having to remove pages and pages of just pointless arguing and thread-derailing posts from you, just in this one thread.

 

[helmholtz]

Believers and you know who you are

Thanks for sharing with the posts. What you need to understand is these folks you are following are charlatans pure and simple. They are selling warmed over traditional trading ideas that no longer work. These folks need to be challenged. In this case they fail the challenge miserably. They fail again and again when challenged but you keep on believing. Check your head and ask why you believe.

 

[helmholtz]

Regarding the EGO. This egoless trading is pure bull shit and designed so that u accept loss and keep on trading feeding the machine with your fees and commissions without caring. It's eastern mysticism garbage that the market promotes so you lies and it wins. I know because I use to be into that crap.

You need a strong ego to trade. You need to believe in yourself and your decisions. Leave the no ego to Gandhi. The markets are a jungle and the lions win everytime.

 

[sellindexvol66]

"Change their minds... ego" is complete BS. We'd all be trading nickel ranges if that were true. Dime-store trading philo. Ego allows us to pull the trigger. >80% of mkt participation is professional. GOOG traded in 5% range on a stock split. So efficient. No greed, fear or ego involved in that ticker today.

Neither of us have any idea if Mark Douglas makes a dime from trading.

I think you're trying to keep me active for kicks, but to humor you a bit more. No, I am exceedingly (to a fault) risk-averse. If anything, I dump too quickly.

I have said this before and will always, dp/beck helped me tremendously in my early years learning vol trading..

I do not know what the future holds for either of us but for me, his help can never be said enough of times.

Edit: I do feel those that attain very rare success in any field are quite passionate and full of life like he is ( and myself)

 

[actionzip54]

I have said this before and will always, dp/beck helped me tremendously in my early years learning vol trading..

I do not know what the future holds for either of us but for me, his help can never be said enough of times.

Edit: I do feel those that attain very rare success in any field are quite passionate and full of life like he is ( and myself)

I think it's more offensive than anything, at least to myself. It really insults me when someone claims that they have 80% winners at a 10-1 RR. It's like walking into a room of NBA players and telling them you average 100 pts and 50 rebounds a game for a 40 year career. Then, after saying that, when you get called out on your absurd claims you get combative, passive aggressive, and hurl insults at legit players. It's infuriating and totally hilarious at the same time.

 

[RedTankEra]

I think it's more offensive than anything, at least to myself. It really insults me when someone claims that they have 80% winners at a 10-1 RR. It's like walking into a room of NBA players and telling them you average 100 pts and 50 rebounds a game for a 40 year career. Then, after saying that, when you get called out on your absurd claims you get combative, passive aggressive, and hurl insults at legit players. It's infuriating and totally hilarious at the same time.

I don't have a saying in this quarrel.

However, anyone that believes 80% accuracy 10R with moderately high frequency is possible in a liquid market is smoking some very very good shit.

Those numbers being real would constitute a position among the richest of the richest in very little time.

Still, details on "frequency" would make all the diff in the world.

 

[volente_00]

the difference is my posts are real. yes, there is ego in there certainly; but remember i did not create p/l thread..

what i am trying to do is keep some reality here at ET. her remarks are head spinning...these guys (DB, nodogi) clearly are trying to protect some kind of cult following for less than honest reasons...imo.

One could make the argument that even if your posts are real, they are misleading to the 99.9% of those who think it is possible they will make that from trading.

A pnl can be photshopped all day long or even cherry picked at times when it is only showing positive. You can't fake a timestamp. I think trading attracts a lot of sociopaths and that is why we see them manifest on et.

At the end of the day all that really matters is what I can achieve and I could care less about what anyone else is making or losing

 

[SIUYA]

thank god people dont see eye to eye on this stuff - if we all agreed there wouldn't be a market.

................
I have a question for DBPhoneix.
Do you hold some trades longer than a day?