Is day trading worth it?

[smallStops]

I am not negative- I love the markets and they have enriched me, so I try to pass along my experience- but the truth is there is no edge for the DIY day trader--- ALL my observations, ALL my experience, and EVERYONE i know--- tells me that at home DIY day trading is a complete waste of time as a way to make anything of yourself. At one time, with the right software (SOES bandits, etc), it could be done-- but those days are long over--- could things change back, sure, but I am not waiting around for that.

Obviously, some folks, seem to buck the overwhelmingly poor odds, but then again, some folks win the lottery. They are are black swans and for some reason, they all seem to post on these threads. LMFAO!

surf

I am very glad to find people willing to talk about their trading "credentials" ( experience, observations, contacts).

Now, what would it be in it for the "DIY day trader" to parade what they can do - if that is the case?

Actually regarding the lottery, one guy is documented as being able to win 40 times out of 52 weekly lottery game a week. For some reasons, he is keeping mute. Only the lottery "officials" here stated that some regular winners do exist and mentionned the player results.

 

[MarketAddict]

I am not negative- I love the markets and they have enriched me, so I try to pass along my experience- but the truth is there is no edge for the DIY day trader--- ALL my observations, ALL my experience, and EVERYONE i know--- tells me that at home DIY day trading is a complete waste of time as a way to make anything of yourself. At one time, with the right software (SOES bandits, etc), it could be done-- but those days are long over--- could things change back, sure, but I am not waiting around for that.

Obviously, some folks, seem to buck the overwhelmingly poor odds, but then again, some folks win the lottery. They are are black swans and for some reason, they all seem to post on these threads. LMFAO!

surf

People are telling you that they day trade at home successfully, but for some reason you keep on with your belief that successful home traders doesn't exist.. Is it just me or you just want some attention? Or are you mad that you haven't successfully trade at home?

There are people who make a living from playing video games.. Have you ever met a person who does that? I doubt it.. but it don't mean it doesn't exist..

 

[smallStops]

... Or are you mad that you haven't successfully trade at home?
..

Oh I did not know he tried day trading at home.
So that might explain.

 

[d08]

This is the main issue with "trading for a living"--- there are zero transferable skills to the real world.

Depends on the type of trading. These days you will most likely learn how to program in the process, I've learned 2 programming languages and the understanding of the marketplace gives you insight into the behavior of people, which can be useful.

 

[d08]

I find this difficult to believe. signs of success are everywhere in different businesses-- large homes, cars, guys writing books about it, etc-- where ( outside of flamboyant hedgies) does this exits in the "successful at home daytrading world" ?

I defy you to show ONE EXAMPLE of a thriving at home day trader who did not start the game with substantial money, wife with big income, inside connections, etc--- a start from scratch to wealth story. It DOES NOT EXIST. Trading is something you do for fun, money and as a hobby after you make it in some other field --- surf

What about lescor. He started with very little at a prop shop and a few years ago posted pictures of a very nice house he was building. It's all posted on ET.
I also make low six figures but you're right, I have no fancy cars or big houses to show for it.
I agree that the real money is made elsewhere (the hundreds of million and billions), just look at how much easy money is floating around Silicon Valley these days and compare it to the hardships of trading.

 

[Ditch]

Don't forget about our resident trading wizards, NoDoji and DBPhoni, who are killing it every day through price action tactics on the hard right edge that are explained in great detail here for everyone to use.

 

[marketsurfer]

I am very glad to find people willing to talk about their trading "credentials" ( experience, observations, contacts).

Now, what would it be in it for the "DIY day trader" to parade what they can do - if that is the case?

Actually regarding the lottery, one guy is documented as being able to win 40 times out of 52 weekly lottery game a week. For some reasons, he is keeping mute. Only the lottery "officials" here stated that some regular winners do exist and mentionned the player results.

Now what would be in it for the DIY day trader to post anything on this site, if they are indeed working an unknown edge that all the quants and others with far more computing/brain power have failed to find? They all seem to post and post on this site--- I find that very unusual, don't you??

Interesting about the lottery. Clustering of wins into one individual, that would make a very good PhD paper.

thanks!

surf

 

[marketsurfer]

What about lescor. He started with very little at a prop shop and a few years ago posted pictures of a very nice house he was building. It's all posted on ET.
I also make low six figures but you're right, I have no fancy cars or big houses to show for it.
I agree that the real money is made elsewhere (the hundreds of million and billions), just look at how much easy money is floating around Silicon Valley these days and compare it to the hardships of trading.

The key word here is prop shop. Real prop shops teach real edges, the shops that live or die based on the traders profits, not the churn and burn dealers.

Id you don't mind, what's your account size to produce low 6 figures per year in profit consistently?

thanks!

surf

 

[marketsurfer]

Don't forget about our resident trading wizards, NoDoji and DBPhoni, who are killing it every day through price action tactics on the hard right edge that are explained in great detail here for everyone to use.

How about Jack Hershey? He makes multi times the market's "offer" on a daily basis. He proves it here again and again with cool looking charts and pseudo science sounding words and phraseology. There have also been the legions of crank engineers and corporate trainers who have made wild claims on this site. We must not forget these kings of the market! :eek:

 

[rallymode]

I am not negative- I love the markets and they have enriched me, so I try to pass along my experience- but the truth is there is no edge for the DIY day trader--- ALL my observations, ALL my experience, and EVERYONE i know--- tells me that at home DIY day trading is a complete waste of time as a way to make anything of yourself. At one time, with the right software (SOES bandits, etc), it could be done-- but those days are long over--- could things change back, sure, but I am not waiting around for that.

Obviously, some folks, seem to buck the overwhelmingly poor odds, but then again, some folks win the lottery. They are are black swans and for some reason, they all seem to post on these threads. LMFAO!

surf

With convex banned I feel the need to smack the crap out of you for polluting these threads with your garbage. If you were able to enrich yourself by being a leech and associate yourself with other leeches who can only make money off of OPM then kudos. Enjoy your spoils. But when it comes to DIY day trading you are a bafoon and add zero value to any dialogue.

DIY day trading is alive and well and there are plenty of rags to riches stories out there to make it plausible. I realize you are playing a character but your unfounded negativity needs to stop. No one needs OPM or prop or institutional connections to make it in this business. The right skills, some intellect and some luck are sufficient. Is it easy - no. Is it common - no. Why should it be? Outsize rewards are only possible for the few. You wont know if you belong in that group if you never even try and let posers discourage you.