You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Is daytrading here to stay?
- Thread starter proptr8r
- Start date
....sad but true...the odds are really stacked against the 'daytrader' of old....with the pdt rules there is much less volume and 'irrational exuberance ' in the air..Quote from GreenDog:
In the late 90's it was normal to rake in $5,000/day. Now, we're happy with half that! (Any less than half that per day and I would be doomed to "woik'in 'fo 'da man" every night and day").
Less than half that per day and you'd have to get a job? Ummm...250 days a year x $2500 a day = 625K a year! Any less than 625K a year and you'll quit trading and get a job?
You must have a very expensive lifestyle and a really good job waiting for you. Am I missing something???
Quote from proptr8r:
Do you really think daytrading is here to stay? The late 90's were an abberation. If you were trading then, and did well, you were in the right place at the right time. I know there are several individuals that have been daytrading for decades, but as a whole do you really think chosing daytrading as a profession at this point has a positive expectancy? It seems as though most of the people in "bucket shop's" are just hanging on. I know there are people in every bright/echo/andover office that do well, but the rules and the volatility back to the mean, keep making it more difficult. It seems like a futile effort at this point. You can only squeze an orange so hard until there's no more juice left in it.
Well, the late 90's was easy street, thats a given... the people who can continue to do well are the people with sufficient capitalization, sound trading strategies and the discipline to execute the strategies devoid of emotion... daytrading will always be here to stay for the 5%-10% of us who have what it takes... in these "normal" times, daytrading has become a conventional business, with pretty conventional failure rates... find your edge, or become one of the 90%- 95% who flunk this game...
No. Daytrading is just a fad. I give it another month, maybe two at the most. Then forget it, no more daytrading.
On the other hand, Love is here to stay.
And that's enough to make you mine girl, be the only one. Love me all the time girl, we'll go on and on.
One day when we're trading, deep in debt, not a lot to say, then we will remember, things we said today.
On the other hand, Love is here to stay.
And that's enough to make you mine girl, be the only one. Love me all the time girl, we'll go on and on.
One day when we're trading, deep in debt, not a lot to say, then we will remember, things we said today.
Quote from Corso482:
Less than half that per day and you'd have to get a job? Ummm...250 days a year x $2500 a day = 625K a year! Any less than 625K a year and you'll quit trading and get a job?
You must have a very expensive lifestyle and a really good job waiting for you. Am I missing something???
your math is correct.
small time scalping IS now futile, due to decimalization. Whats the point of risking a lot of money to make a lousy penny?
I used to trade a lot, when spreads were .25 and the ticks were 12.5 cents, if you could make a quarter on a thousand shares that could pay all your expenses for the day in one quick trade.
late 90's we saw smaller spreads, smaller ticks, BUT, a lot more volatility and very strong momentum trends. A lot of people who called themsleves daytraders were really over night traders or swing traders, riding the upward momo.
Now, we have less momentum ( except the past couple months ) and less spreads and smaller ticks. The one positive we have is very low commissions that aren't likely to rise.
IMHO the daytraders are moving into futures of all kinds. Volatility will decrease in the stock market and drive all small active traders where they can get the most leverage and fewer hassles.
SSf's have really eliminated the #1 reason to be a prop trader, leverage. Sure some strategies require trading the underlying stock, but most don't.
the daytrading firms of the future could be firms specializing in SSF and e-mini trading.
I used to trade a lot, when spreads were .25 and the ticks were 12.5 cents, if you could make a quarter on a thousand shares that could pay all your expenses for the day in one quick trade.
late 90's we saw smaller spreads, smaller ticks, BUT, a lot more volatility and very strong momentum trends. A lot of people who called themsleves daytraders were really over night traders or swing traders, riding the upward momo.
Now, we have less momentum ( except the past couple months ) and less spreads and smaller ticks. The one positive we have is very low commissions that aren't likely to rise.
IMHO the daytraders are moving into futures of all kinds. Volatility will decrease in the stock market and drive all small active traders where they can get the most leverage and fewer hassles.
SSf's have really eliminated the #1 reason to be a prop trader, leverage. Sure some strategies require trading the underlying stock, but most don't.
the daytrading firms of the future could be firms specializing in SSF and e-mini trading.