Is day trading worth it?

[convexx]

PnLs, as I've pointed out, can be faked. Charts can't.

The chart is as meaningless as your excuses.

 

[dbphoenix]

The chart is as meaningless as your excuses.

If you find it difficult, you can study this:

The Richard D. Wyckoff Method of Trading and Investing in Stocks: A Course of Instruction in Stock Market Science and Technique

BTW, how's that HLF trade workin' out for ya?

 

[convexx]

If you find it difficult, you can study this:

The Richard D. Wyckoff Method of Trading and Investing in Stocks: A Course of Instruction in Stock Market Science and Technique

I've got $36k sitting in checking. It's yours if you can show profits exceeding $36k for the YTD in your trading account. Not a wager. Free money for you.

HLF trade?

 

[Scaleout.Scalper]

I used to believe in some of these guys really having something... nodoji and cornix were both very convincing.

But I think of that indextrader guy from Bigmike's. He started an OPM operation in which he would daytrade futures on clients behalf. The story goes that he lost money the first two months and his business partner freaked out and left the business, and not before sending a letter to all clients saying "this guy doesn't know what he's doing, get your money out." So all the clients left and the operation folded. So being out of cash his only recourse was TopStep Trader. He started doing combines and after several attempts was not able to pass, or even be profitable.

The moral is that the guy was never profitable to begin with. The red flag was that he never provided a track record for anyone. He just wanted people to "trust" him and send in their money. All he had were some youtube trade videos in which he appeared to be profitable. But once he had to make consistent real life trades, the profitability vanished into thin air immediately. Now I don't think he was a scammer or had any bad intentions, surely he wanted to do right by his clients. I think he just got caught up in the hype of playing "fake it til you make it" and ended up putting the cart before the horse.

Now Cornix's story seems very similar........ He claimed to trade for a living, said somewhere he made 100-200 pips a month, and as I recall began talking about how he had started an OPM project last year. Now a year later and also after a couple of unprofitable livecall journals........... he is quitting daytrading. It seems strange that someone who appeared to be so consistent suddenly couldn't make money as soon as some accountability entered the picture. And like indextrader, there was never any track record for his clients to see. There were occasional charts with entries/exits marked, and a third party site which showed a few weeks worth of trading, and all of which seemed to indicate he was quite profitable, but never an uninterrupted run of data. It just seems odd that like night and day, as soon as the light of day is shown on things and actual real trades had to be made........ like indextrader the profitability is gone.

Look I am not trying to pick on him, but I wonder if he also got caught up in the hype much like indextrader. And I think of maverick posting of all the guys who came to his firm, with internet aliases claiming consistent success, yet in real life blew out in months. I start to see why these other folks won't back up their claims........ they don't want to end up like all these guys......

Many traders used to do very well when the vix was much higher, now that volatility has come down tremendously, many of them have vanished because their strategies no longer work in a low vix environment.

Something to consider.

 

[dbphoenix]

I've got $36k sitting in checking. It's yours if you can show profits exceeding $36k for the YTD in your trading account.

Sounds like somebody is having a bad week.

Try a trading plan.

 

[convexx]

Sounds like somebody is having a bad week.

Try a trading plan.

lol you must be an incredible trader if you won't cross the street to pick up 36K.

 

[NoDoji]

I hear there's some kind of cock sword blotter posting goings on. First time blotter post, so pretty nervous...

Just a typical day's P&L

(obviously blurred out sensitive information, custom indicators, strategy, etc)

Clearly you've got a rare gift unavailable to most. Ensuring that the edge is dark but the support is transparent is crucial to sharing your P&L without revealing your edge.

With regard to the phrase "avg down": The professionals use the phrase "price improvement".

Other than that, looks great, First-Timer!

 

[convexx]

Clearly you've got a rare gift unavailable to most. Ensuring that the edge is dark but the support is transparent is crucial to sharing your P&L without revealing your edge.

With regard to the phrase "avg down": The professionals use the phrase "price improvement".

Other than that, looks great, First-Timer!

Same deal for you too, Donna. Show >$36K and the money is yours.

 

[timbo]

I've heard this term from sales, but nowhere else. I can't think of a single reason why "price improvement" would ever mean anything of significance.

With regard to the phrase "avg down": The professionals use the phrase "price improvement".

 

[Alpha Trader]

If you can post that then certainly you can post the output from PortfolioAnalyst, no? Just the % (TWR) graph, not notional. What's the problem?

That's a nice lil' bear flag retrace of your TWR convexx.

If you're going to hold NoD to given standards, then I think u can publish a years (5 years would be nice) worth of TWR. Don't want anyone thinking that you just combed through your best month, now do we? :eek:

In all honesty, I don't care about your PnL (or anyone's for that matter), but this was just to say that we need even standards for everyone if you're going to ask people for their performance.

On the other hand, if this is your performance month in month out, good on you. I'm happy for you! May the force continue to be with you.