I don't think you get it...
Is day trading worth it?
- Thread starter Laissez Faire
- Start date
I don't think you get it...
speaking for myself, posting reduction happens as i said enough, busier with trading, and yes; the current crop of people have turned me off..why talk to idiots when its simply not healthy?
one thing you are correct on is..speaking for myself only..most of my trades are 1-3 week swings; but day trades get much much more frequent in higher vol.
I agree 100%. You guys who are succesful are not day trading right now and certainly not making a living from it. However, swing trading and longer term investing--certainly one can make a living and a good one with the right skills and capital. surf
This coming from a guy who keeps bragging about monetizing his ET character because he couldn't make it trading. I can live with being called a gambler. There is a very thin line between gambling and trading but I'll tell you what IS sad. You truly are the most ignorant person I've met on ET. You would think that after all the time you have spent being in close proximity to financial wealth you would have learned to keep an open mind.
So we went from impossible to savants to the definition of a day trader.:eek:
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do you currently make a living day trading by the definition
Since you obviously do, so what market are you constrained by ?
Absolutely none, but it's not a difficult concept to grasp. If entering your position pushes the market past acceptable risk/reward parameters or eliminates the edge by pushing price...I would consider that at max capacity and constrained to whatever size that is.
Not worth the time to argue nor do I have a bone in this fight. Cheers.
Very good. So we have 1 person who isn't constrained by any market. The search is still on for the person who is constrained. The metric is that a successful home trader is someone who is constrained by the market.
1:20 to the end
I was familiar with Dustin, Lescor, sellindexvol66 as being profitable Traders. I wasn't familiar with Rallymode, so I did a quick search on a PnL thread to determine his "style" to confirm my suspicions that he is/was in fact also a profitable Day Trader and dispel the belief that profitable Day Traders do not and can not exist.
From numerous posted blotters it appears he is also a profitable "Day" Trader
One post from last year was rather telling.
Search results of daily PnL's can be located:
rallymode: http://www.elitetrader.com/et/index.php?search/526274/
sellindexvol66: http://www.elitetrader.com/et/index.php?search/526289/
What I found refreshing in both Rallymode and Sellindexvol66's posts wasn't the positive-day postings, but the brutal negative days. That imho is the essence of credibility and transparency.
[A concept lost on some]
In addition I came across this post from Dustin
That makes 4 profitable day traders that I am aware of on ET in addition to one person I know personally. I am confident that there are many, many more.
(ET is after all an extremely small sample size)
The argument that successful Day traders can not be profitable solely on intraday trading is naive. Who doesn't diversify and augment their income by reinvesting profits? Does owning income property, index funds, equities, bonds, commodities, options or any other asset class disqualify one from being classified a Day Trader?
But then again for those that can't it is easier to hold on to the the belief that it is impossible.
Personally, Day trading conflicted with my lifestyle so I migrated to swing and longer term investing. I found my niche and am content. Many ways to make money in the markets. Just because it doesn't suit one person, doesn't mean it can't suit another...
From numerous posted blotters it appears he is also a profitable "Day" Trader
One post from last year was rather telling.
Pretty good year in risk and dollar terms but PnL distribution was unusually skewed. 90% of the profits came over 5-6 months, the rest was mostly noise.
Best/Worst Day: 184k/-161k
Best/Worst Month: 677k/-384k
Contracts traded: 273k
Search results of daily PnL's can be located:
rallymode: http://www.elitetrader.com/et/index.php?search/526274/
sellindexvol66: http://www.elitetrader.com/et/index.php?search/526289/
What I found refreshing in both Rallymode and Sellindexvol66's posts wasn't the positive-day postings, but the brutal negative days. That imho is the essence of credibility and transparency.
[A concept lost on some]
In addition I came across this post from Dustin
That makes 4 profitable day traders that I am aware of on ET in addition to one person I know personally. I am confident that there are many, many more.
(ET is after all an extremely small sample size)
The argument that successful Day traders can not be profitable solely on intraday trading is naive. Who doesn't diversify and augment their income by reinvesting profits? Does owning income property, index funds, equities, bonds, commodities, options or any other asset class disqualify one from being classified a Day Trader?
But then again for those that can't it is easier to hold on to the the belief that it is impossible.
Personally, Day trading conflicted with my lifestyle so I migrated to swing and longer term investing. I found my niche and am content. Many ways to make money in the markets. Just because it doesn't suit one person, doesn't mean it can't suit another...
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