Is day trading worth it?

[Eddiemorra]

'Foresight' analysis is better than hindsight, I guess, although realtime calls trump all!
Leave out all ambiguity.

There's some foresight trading over at a populat trade2win thread at the mo. Along the lines of:
''Looking to go long above 4555 today for push up'. 30 tick stop'' etc

Market goes to 4565 and then tanks

Then at the end of day its all ''Yeah, didn't take that long above 4555. Market didn't look right to didn't take the signal''

etc etc

Real time calls is all that can prove ability.
And there are some bloody good traders in the ES thread who do just that from what i've seen. Volente, Pinkman, Cac04, I loveoptions etc

 

[dbphoenix]

'Foresight' analysis is better than hindsight, I guess, although realtime calls trump all!
Leave out all ambiguity.

There's some foresight trading over at a populat trade2win thread at the mo. Along the lines of:
''Looking to go long above 4555 today for push up'. 30 tick stop'' etc

Market goes to 4565 and then tanks

Then at the end of day its all ''Yeah, didn't take that long above 4555. Market didn't look right to didn't take the signal''

etc etc

Real time calls is all that can prove ability.
And there are some bloody good traders in the ES thread who do just that from what i've seen. Volente, Pinkman, Cac04, I loveoptions etc

Failing to take the foresight trade is a matter of accountability. What is more important is that it was made and that it was successful. So-called "real-time calls" on message boards are little different from Three Card Monte.

Again, those who read this will know whether or not they know where to look for trades today. If they don't know, they won't. And maybe they'll ask themselves why. No need for another thousand posts about it.

 

[Laissez Faire]

Then at the end of day its all ''Yeah, didn't take that long above 4555. Market didn't look right to didn't take the signal''

Exactly. The guru never lose this way and his image of perfection and ego remains intact.

There was a guy who posted super advanced analysis in the ES-journal and actually seemed rather impressive, but once he started posting live calls it was scratches, losses and excuses all over the place.

I believe one guru in this thread made a call, but apparently the market did not go his way and it was apparently a scratch.

Or so we're told...

 

[helmholtz]

Well, how can I be prepared for day trading when I'm currently not trading or not even watching the market?

You're stating the obvious.

Don't waste your time with these delusional folks. They are a lacking a basic understanding of cause and effect--- getting the two mixed up constantly. Their lines exist because of past price, future price is not caused by the lines. Furthermore, they call themselves scalpers and make other exaggerations-- which is akin to thinking someone who makes 10 or 100 trades a day is a high frequency trader.

Good luck!

 

[Grandluxe]

Here's jack's project. No losers --- put up or shut up !

Www.fundseeder.com

I see how it is. They link directly to your brokerage account, so all accounts will be verified. It doesn't really cost anything on your part.

This seems way better than the Combine. Your own rules, standards and no opportunity cost involved.

 

[helmholtz]

I see how it is. They link directly to your brokerage account, so all accounts will be verified. It doesn't really cost anything on your part.

This seems way better than the Combine. Your own rules, standards and no opportunity cost involved.

Yes, it's a better opportunity that will lead to a better future for its participants.

The exposure it will provide is truly unprecedented.

This is the big leagues, not a contest to see if you can be a prop trader, eeking out a living, without posting security.

HH

 

[murray t turtle]

Hello all,

I started out swing trading stocks by submitting orders and managing my positions outside market hours. In a relatively short amount of time, I made what seemed like (and was) a small fortune to me at the time. My method was simple and stress free, but after honoring my stops always, I found myself in a large position that went against me immediately and I simply could not take the loss. The position continued to go against me while I prayed and hoped. You know the drill. I puked at the bottom, only to see the market rise without me. Unspeakable! Fortunately, I was smart enough to withdraw my money and still had more than double of what I started with.

I started out studying day trading and spent thousands of hours trying to figure out the nature of intraday movements. I've had periods of success and feel that I have a very good read of the market most of the time, but ultimately, I was not consistently successful for various reasons.

In the end, I was tired of trading US hours while living in Norway and I was tired of being glued to the screen all day long. If I had made a load of money day trading, it would probably have been different, but I had some of the same concerns during the periods where I pulled home some coin. It just did not seem rewarding to me and it actually started to bore me.

Right now I'm not trading. I'm a full-time student of mathematics and physics, devoting most of my time there. But I'm still attracted to the markets and I am planning my return, just not sure if going back to day trading is worth it or even if I have the time to do so. I'm 100% convinced that day trading successfully can be done, so that's not within the scope of this discussion.

I'm just thinking that swing trading may be just as rewarding, less stressful and even more financially rewarding than day trading, while at the same time leaving time to pursue other interests (which I have a lot of).

Any thoughts on the subject?

Please keep it civil. : )

Thanks.

===========
Not much managed money doing day trading[some is];
mostly positions, swing, trend trading, investing......................................Not that any kind of investing trading is easy, not even over a pereiod of time

 

[nillionaire01]

They are a lacking a basic understanding of cause and effect--- getting the two mixed up constantly. Their lines exist because of past price, future price is not caused by the lines.

I've more or less been following along, though admittedly playing a bit of catch up as well. But I do not recall anyone saying that price went one way place rather than another because of a line drawn on a chart. Would you re-quote that post please?

 

[helmholtz]

I've more or less been following along, though admittedly playing a bit of catch up as well. But I do not recall anyone saying that price went one way place rather than another because of a line drawn on a chart. Would you re-quote that post please?

It is implicit within the annotated chart.
Res Ipsa Loquitur

Otherwise, what purpose would the chart have?

 

[nillionaire01]

It is implicit within the annotated chart.
Res Ipsa Loquitur

Otherwise, what purpose would the chart have?

The purpose of an annotated chart would be nothing more than to explain the trader's behavior vis a vis the stimuli of price, not the behavior of price itself. So no one has claimed what it is you are alleging them to have claimed.