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NASAA Study: 1 in 26 Day Trading Accounts Tracked Successful: 70% Lose Everything
- Thread starter ByLoSellHi
- Start date
Quote from Retail Relic:
you can't defend in any way almost 9000 posts in 1.5 years on ET
you are a human being and I am worried about you to some degree
ByLoSellHi = 8801 (8.50 posts per day)
Retail Relic = 53 (15.35 posts per day)
Looks like you're well on your way and in half the time.
Quote from risktaker:
BHSL...
Seems like you're search through the bottom of the barrel(s) lately. You're pasting a few too many useless articles.
C'mon man, I'm a brawler.
If you're going to take the fight to me, show me how the study is flawed.
Doing what you're doing is like me talking about your Momma.
Quote from ByLoSellHi:
C'mon man, I'm a brawler.
If you're going to take the fight to me, show me how the study is flawed.
Doing what you're doing is like me talking about your Momma.
OK, I'll try even though i agree with the study.
It's an old study. Pricing is now in decimals, which makes slippage much less. You're not going to see 50 cents of slippage on a $20 stock.
Commissions are much less these days, which contributes less to losses.
The sample size is just too little to really mean much. Though a larger sample size would most likey reveal the same numbers.
I figured it had to be an old study. I mean where can you lose $81 on a stock these days?
how many people are attacking the messenger? Folks, if someone or some people wish to claim that daytrading is a fool's errand, what do you care? Why get so defensive?
What matters is your own performance. If you make money then you make money. The point of the article was that daytrading and/or short term trading is incredibly difficult and everything else being even, you will most likely lose. But everything else is not even. You are you and other people are other people.
I'm willing to bet that 95% of the people who post on this board LOSE money trading. But 5% make money. This is just reality. If you're part of the 95% then change or lose all of your money; if you're part of the 5% then congrats and work on getting even better.
What matters is your own performance. If you make money then you make money. The point of the article was that daytrading and/or short term trading is incredibly difficult and everything else being even, you will most likely lose. But everything else is not even. You are you and other people are other people.
I'm willing to bet that 95% of the people who post on this board LOSE money trading. But 5% make money. This is just reality. If you're part of the 95% then change or lose all of your money; if you're part of the 5% then congrats and work on getting even better.
"Finally, the validity of a statistical study based on 30 (thirty!) accounts is about as compelling as the conclusions of the psychic next door."
That's not correct. If the accounts were taken randomly and followed other proper statistical methods then you should get a pretty valid conclusion. For instance polling companies may take presidential polls on a sample of a couple thousand in order to estimate the vote of 70 million.
That's not correct. If the accounts were taken randomly and followed other proper statistical methods then you should get a pretty valid conclusion. For instance polling companies may take presidential polls on a sample of a couple thousand in order to estimate the vote of 70 million.
Someone indicated the "study is old". This does not mean the conclusions are old.
Quote from ByLoSellHi:
C'mon man, I'm a brawler.
If you're going to take the fight to me, show me how the study is flawed.
Doing what you're doing is like me talking about your Momma.
BLSH:
Just to let you know that you are doing excellent and thoughtful work/contributions. People who are upset will understand with time. They read too much garbage telling them to think positively and work hard, and they will succeed. The odds are stacked against a trader. They have to understand the roots of manay dangers.
Regards
Quote from plyka:
"Finally, the validity of a statistical study based on 30 (thirty!) accounts is about as compelling as the conclusions of the psychic next door."
That's not correct. If the accounts were taken randomly and followed other proper statistical methods then you should get a pretty valid conclusion. For instance polling companies may take presidential polls on a sample of a couple thousand in order to estimate the vote of 70 million.
plyka, correct.