Is Daytrading difficult or impossible ?

wrbtrader said:
I'm not being sarcastic but don't all indicators have a mathematical model ?
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There are a lot of things that are related to math. But there is also math and math...
I compare it to: I play tennis and Federer is playing tennis too. Can you compare us and say we do the same?
Trading is math as you buy and sell, so everything you do is math related. But there are huge differences if you go deeper in all the available and/or used math, and the way you use them. There is the difference.

wrbtrader said:
It seems to me that the basic mathematical models are stuff like stochastics, MACD, moving averages and so on. In contrast, the more advance mathematical models are those used in HFT, algorithms and such.
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I never used MACD, stochastics,Fibonacci, divergences, support/resistance...
Also never read or studied these things. I wanted to start with a brain that was not spoiled or preconditioned by things that seemed to be useless to me. I never heard of somebody that became billionaire with this stuff although millions of people studied and used it. So chances to have success are near zero %.
And I also don't work like HFT's.

What to me is very important is to find the correct relations and the hierarchical order of these relations and how they work together. Chaos should become less chaos. That is only possible if you understand things that for others still is chaos. Find order in the disorder.

If I post result of my trading most people say:impossible. That's for me a sign that:
  1. what I do works but almost nobody has any clue how to arrive at these results.
  2. the classic free things on internet don't work. So it was a good not to look at this garbage and not waste time on it.
My systems work already for over 10 years, in all market conditions. The only thing that changes is the amount of money that market offers you. Sometimes it is a lot, sometimes it is much less. But it always worked and beated the indexes by far.
 
Mtrader said:
Also never read or studied these things. I wanted to start with a brain that was not spoiled or preconditioned by things that seemed to be useless to me. I never heard of somebody that became billionaire with this stuff although millions of people studied and used it. So chances to have success are near zero %.
And I also don't work like HFT's.

What to me is very important is to find the correct relations and the hierarchical order of these relations and how they work together. Chaos should become less chaos. That is only possible if you understand things that for others still is chaos. Find order in the disorder.

If I post result of my trading most people say:impossible. That's for me a sign that:
  1. what I do works but almost nobody has any clue how to arrive at these results.
  2. the classic free things on internet don't work. So it was a good not to look at this garbage and not waste time on it.
My systems work already for over 10 years, in all market conditions. The only thing that changes is the amount of money that market offers you. Sometimes it is a lot, sometimes it is much less. But it always worked and beated the indexes by far.
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So much awesomeness in the perspective, approach and work required to achieve this accomplishment,.. well done!
 
Mtrader said:
I only trade the ES. There you can steal from the big boys...:D or getting stolen...:(
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Thank goodness I am not trading against you and that we play in different sandlots.:finger:

Love it that a big boy steals from the other big boys. :thumbsup:
 
Mtrader said:
What to me is very important is to find the correct relations and the hierarchical order of these relations and how they work together. Chaos should become less chaos. That is only possible if you understand things that for others still is chaos. Find order in the disorder.
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I am going to frame this. This statement is extremely helpful to me. Thank you.

If I venture to guess, you were trained in tech/science.

Regards,
 
IMG_4955.JPG
 
Is Daytrading difficult or impossible ?

Essentially there is an opportunity everyday out there, shares index or futures
You really have to know yourself though and to know if your subconsciously biased.

I want to say that if your a scalper then daytrading is exactly for you and very possible.

The real problem with daytrading is the time you put into sitting at the screens.
Seriously if you divide the hours by the return "net after tax" you might be surprised.
The traders that catch can either dominant or micro trends are the real winners. They put a trade on and set a sl and walk away. Their money is working for them not the other way around.

If your a day trader most likely your can't give up control, what I mean is why watch every tic ?
It only serves to destabilize your mind.
Set and forget is a very hard thing to do but it the way forward.
 
DDR said:
Is Daytrading difficult or impossible ?

Essentially there is an opportunity everyday out there, shares index or futures
You really have to know yourself though and to know if your subconsciously biased.

I want to say that if your a scalper then daytrading is exactly for you and very possible.

The real problem with daytrading is the time you put into sitting at the screens.
Seriously if you divide the hours by the return "net after tax" you might be surprised.
The traders that catch can either dominant or micro trends are the real winners. They put a trade on and set a sl and walk away. Their money is working for them not the other way around.

If your a day trader most likely your can't give up control, what I mean is why watch every tic ?
It only serves to destabilize your mind.
Set and forget is a very hard thing to do but it the way forward.
More...

To each his own.. I had to learn long time ago that there's no wrong way of making money.. If you make money from day trading then so be it.. If you make money from swing trading then so be it... If you make your money from investing like Warren Buffet, then so be it.. We all don't have the same personality, so we are not going to make money the same way..

I love day trading, but I hate long term investing.. I don't mine sitting in front of the computer watching the market like a hawk.. It beats having a regular 9-5...
 
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