Study says Daytrading for a living is virtually impossible.

speedo said:
Let's keep this between us as it may upset some. Those of us who have worked hard to achieve competence actually enjoy trading...yep, enjoy. We speculators are capitalists, in fact we operate at ground zero of capitalism. Our role, collectively is to make markets and provide liquidity. By doing so, we absorb risk for more conservative market participants such as hedgers and investors. In return, we reserve the right to make a profit and certainly make no excuses for it.

That's our role in the marketplace. As to what we can do to "help humanity", it's pretty much what any other professional might do, contribute to charities and do volunteer work. I might suggest rather than show your peculiar blend of ignorance and arrogance, you get cracking to cure cancer and feed the starving children of Somalia. The world needs your largess.
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Speedo, enjoy it all you want, you have not made a dime trading. I am simply stating chart reading is a waste of time. You develop 0 skills in doing so. Hour after hour, you are staring at a picture. I would rather not see people go down that route (or they might end up like you and I would not wish that upon anyone).

Instead, people would be better off looking for value opportunities, in a relative or absolute term.

Ps. I was talking about moving the world forward (helping humanity was a bad way to say it). For example, Robert Engle has given a lot back to the finance community. Imagine he wasted his life staring at chart patterns...

krugman25 said:
Or you can take a picture of yourself in a suit, slap that puppy up as your profile picture and pretend you know what you're talking about. #amiright
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I actually have a suit in my profile pic! I guess I fall in the later category :D
 
comagnum said:
What planet are these researchers from? Last time I checked any advanced skill takes about 5-10 years on avg to learn. An electrician for example, can not even take the test to get master certified until they have 10k hours work experience & 1k hours of class room training. Only the best can pass this test, most will take the test at around the 7-10 year mark.

Guess what - most traders making a decent living at it will tell you it took them 7-10 years on avg to get to this level.
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Totally agree. I think there is this perception that outsiders think day trading is easy and they can learn it by reading just a couple of books and off to Tahiti they go. So when people new to the profession fail they think that this is a crock of crap and no can succeed at it.
 
remogul92 said:
Totally agree. I think there is this perception that outsiders think day trading is easy and they can learn it by reading just a couple of books and off to Tahiti they go. So when people new to the profession fail they think that this is a crock of crap and no can succeed at it.
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right mister.
the journey to be a successful day trader is extremely difficult and perhaps deadly.

it might cause us to lose our property,
strain our relationship,
lose tons of money through trading
and at times, lives could be lost.

only very few can make it.
 
speedo said:
I want to see a pic of his wrist to see if there is a Swiss knockoff on it :D
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Don't forget the pink shirt! :D

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maxinger said:
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it might cause us to lose our property,
strain our relationship,
lose tons of money through trading
and at times, lives could be lost...

...
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The way you typed that reminded me of the old Discovery.com commercials.

(Sorry, I see cadence in typing.)

 
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