Is Daytrading difficult or impossible ?

MarketAddict · Jul 16, 2017

algofy said:
Are any regular jobs actually 9-5 anymore?

Probably not..

Mtrader · Jul 16, 2017

DDR said:
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.

Just to show how much nonsense you post:

can you tell me how many hours I sit in front of my screen? NO.
have you any idea about the amount of money I make? NO.

But you think you can make the perfect conclusion for me. People always are very skeptical when traders pretend to make good money. But they never are skeptical when they read the logic or the way bashers come to conclusions. Lots of insinuations based on their own fantasy and never confirmed by any proof.

DDR said:
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.

Can you tell me how you know that I watch every tic? NO.
On top of that: I never use nor watch tics. I don't even watch 1 minute or other short timeframe charts.
I don't put a stop and walk away. I follow more or less what is happening because the market is dynamical and can change direction or strengthen the direction. Depending of the evolution positions should be hold longer or be reversed. With the stop and walk away trading you will miss all this and the result will be bigger losses and smaller profits.
Again the same remark:Lots of insinuations based on their own fantasy and never confirmed by any proof.

jelite · Jul 16, 2017

The actual question of daytrading being difficult or impossible has a clear answer and therefore is not that interesting. Therefore I find it more interesting to ask Mtrader a question. Above you say that you use a mathematical model to enter/exit positions (the entry/exit being 'manual' click). When you say that you follow more or less what is happening and react based on that, does that just mean that your mathematical model keeps evaluating whether to hold/exit a position or that you 'visually' (intuition/instinct/experience etc.) watch your position and react in a discretionary fashion?

volpri · Jul 16, 2017

jelite said:
The actual question of daytrading being difficult or impossible has a clear answer and therefore is not that interesting. Therefore I find it more interesting to ask Mtrader a question. Above you say that you use a mathematical model to enter/exit positions (the entry/exit being 'manual' click). When you say that you follow more or less what is happening and react based on that, does that just mean that your mathematical model keeps evaluating whether to hold/exit a position or that you 'visually' (intuition/instinct/experience etc.) watch your position and react in a discretionary fashion?

I know you didn't ask me but i can't help myself....he probally won't admit it but basically he is watching price action unfold and applying specific "mathematical" tactics to the PA. Nothing wrong with that.

ironchef · Jul 16, 2017

jelite said:
The actual question of daytrading being difficult or impossible has a clear answer and therefore is not that interesting. Therefore I find it more interesting to ask Mtrader a question. Above you say that you use a mathematical model to enter/exit positions (the entry/exit being 'manual' click). When you say that you follow more or less what is happening and react based on that, does that just mean that your mathematical model keeps evaluating whether to hold/exit a position or that you 'visually' (intuition/instinct/experience etc.) watch your position and react in a discretionary fashion?

If I am not mistaken, Mtrader pointed you to this:

EDIT:
Found it already:
https://www.elitetrader.com/et/thre...ething-about-them.292201/page-24#post-4136214

If I were you I would start with this:

https://www.elitetrader.com/et/threads/fractal-theory-i.291851/

Regards,

Buy1Sell2 · Jul 16, 2017

Folks, successful day trading is one of the easiest endeavors one can undertake----. Most traders will not be successful at day trading.

Turveyd · Jul 17, 2017

Ofcourse its not impossible, pretty much nothing ever is, but the odds are stacked against you, mainly pyschology, fear of missing a trade, fear of killing at a loss to watch it reverse, fear of selling at a profit incase it goes higher then watching it fail, fear of taking a good setup cause it looks like it'll lose then it doesnt, greed/revenge taking stupid trades cause you need profits or cause you wussed a prev trade or a loser.

Then spreads, comms, SL hunting spikes, slippage just all further drive you into madness.

When my brain is right I'm a top trader making loads, most of the time it isnt and the opposite sadly these days.

DDR · Jul 17, 2017

Mtrader said:
Just to show how much nonsense you post:

can you tell me how many hours I sit in front of my screen? NO.

have you any idea about the amount of money I make? NO.

But you think you can make the perfect conclusion for me. People always are very skeptical when traders pretend to make good money. But they never are skeptical when they read the logic or the way bashers come to conclusions. Lots of insinuations based on their own fantasy and never confirmed by any proof.

Can you tell me how you know that I watch every tic? NO.
On top of that: I never use nor watch tics. I don't even watch 1 minute or other short timeframe charts.
I don't put a stop and walk away. I follow more or less what is happening because the market is dynamical and can change direction or strengthen the direction. Depending of the evolution positions should be hold longer or be reversed. With the stop and walk away trading you will miss all this and the result will be bigger losses and smaller profits.
Again the same remark:Lots of insinuations based on their own fantasy and never confirmed by any proof.

Your vehemence is sure sign of a sore loser lol

kennanzaldo · Aug 28, 2017

speedo said:
This discussion keeps coming up on ET. To those of us who trade for a living, the question is silly. The answer is....daytrading is difficult. There are many endeavors which are more difficult, becoming an astronaut is more difficult, transplanting a kidney is more difficult, making the Olympics is more difficult as is becoming fluent in 6 languages, playing Paganini flawlessly by sight reading, becoming a Grand Master in a martial art etc etc.

People who aspire to these kinds of things don't come to anonymous online forums to ask if these things are possible, they set their goals and get to work. They (we) may fail but the surest way of not succeeding is to not try.

I don't encourage to get into this as most will not do what it takes but I will not discourage anyone who understands the difficulty and goes forth anyway.

I leave you with this...

Difficult, but possible. The idea of day trading is simple. Buy low sell high. Buy support sell resistance. The difficult part is which low or which high, which support which resistance. Naturally the larger time frame is more important. Once the basics are understood mastering one’s psychology is also difficult. Experience is the best teacher. If someone asks for your money for trading information, they are not a successful trader, and therefore the information is not valuable.

Max E. · Aug 28, 2017

kennanzaldo said:
Difficult, but possible. The idea of day trading is simple. Buy low sell high. Buy support sell resistance. The difficult part is which low or which high, which support which resistance. Naturally the larger time frame is more important. Once the basics are understood mastering one’s psychology is also difficult. Experience is the best teacher. If someone asks for your money for trading information, they are not a successful trader, and therefore the information is not valuable.

Very well said!