Make no mistake...daytrading is where its at...
- Thread starter Port1385
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Major moves take time. FACT. Money is made in decent moves....whipsaws happen day trading (more). If you are good at day trading, power to you but did you ever consider, maybe you are just lucky ???(streaks last years and sometimes decades, but ultimately when you realize that luck != skill you have a rude awakening.....
It is actually not so difficult to see moves building up but the moves do not always develop the way we think they should.
For me there is a rule in trading. Risk only as much as you can make 3/4 times when right. So I can fail 2 times and still break even.... Preferably more than the figures above. Day trading while WAS doable when we had 1/8 as scalping is getting harder and harder. Also there is a need to commit more money as positions are bigger/hence risk is. (I am not talking prop shops).
P.S. DTers, how many times have you made some money, but would have made 10 times if you had a little patience?
It is actually not so difficult to see moves building up but the moves do not always develop the way we think they should.
For me there is a rule in trading. Risk only as much as you can make 3/4 times when right. So I can fail 2 times and still break even.... Preferably more than the figures above. Day trading while WAS doable when we had 1/8 as scalping is getting harder and harder. Also there is a need to commit more money as positions are bigger/hence risk is. (I am not talking prop shops).
P.S. DTers, how many times have you made some money, but would have made 10 times if you had a little patience?
The money is in the swings intraday. Go where the points are plentiful and collect or try to collect as much points as you can with a decent system. Use liquid & volatile futures markets (ES,CL,etc). If you are not already well under way, get going and make your money.
So then why anything else? Apart from wanting to stay a loser, why would any others at all, wanting to make it, go spend their time to jack around jerking themselves off on doing other things? Jeez.
So then why anything else? Apart from wanting to stay a loser, why would any others at all, wanting to make it, go spend their time to jack around jerking themselves off on doing other things? Jeez.
Tell Tiger Wood that he's been just lucky putting golf balls in the hole.
Tell Barry Bond that he's been just lucky hitting the baseball with a bat (okay, besides steroid use).
Tell Roger Federer that he's been just lucky hitting the tennis ball with a racket.
Tell Magic Johnson that he's been just lucky shooting the basketball through the hoop.
The list goes on and on. There are just so many lucky people in this world. But ultimately when they realize that luck != skill they have a rude awakening...
Another good non P&R post. You hit most of the points although I'll argue your "golden timeframe" needs to be expanded. I recently sat with a gold trade for 3 months because that's how long it took to fully milk the rally but just the same nice work ISAP.
A subset of "a thousand mini trends in one day. A predictive reaction would be to try to exploit them all or most of them." is the thinking that since there's so much movement each day why can't I not be greedy and take just a little. Like a point. Every day of my life. It's amazing how pervasive the eat like a bird mentality is among traders.
A subset of "a thousand mini trends in one day. A predictive reaction would be to try to exploit them all or most of them." is the thinking that since there's so much movement each day why can't I not be greedy and take just a little. Like a point. Every day of my life. It's amazing how pervasive the eat like a bird mentality is among traders.
Major moves take time. FACT. Money is made in decent moves....whipsaws happen day trading (more). If you are good at day trading, power to you but did you ever consider, maybe you are just lucky ???(streaks last years and sometimes decades, but ultimately when you realize that luck != skill you have a rude awakening.....
Shit I didn't know math somehow changes with timeframe.
At day trading streaks happen. Higher time frame less often!
After years and years knowing about trading you are absolutely clueless about biggest advantage of shorter time frame.
Shit I didn't know math somehow changes with timeframe.
At day trading streaks happen. Higher time frame less often!
After years and years knowing about trading you are absolutely clueless about biggest advantage of shorter time frame.