Study says Daytrading for a living is virtually impossible.

[MACD]

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Yup. Who would have thought that this thread would have evoked this much spirited response?

 

[El OchoCinco]

Would be more interested to see a study on experienced traders meeting specific criteria (lets say 4+ years of active trading, adequate trading capital, etc.), Then see what percentage of that group continues to be successful over the following few years.

To expect consistent success in trading (or any field) from day 1, or even after 1-3 years, is obviously unrealistic. Cant think of any profession or skill a person can achieve mastery over in 1-3 years. In trading, I would suspect even the few % who Net Profited to be more a product of luck (excellent market conditions for their plan), personal relationships with experienced traders, or some other prior, relevant experience.

Or what about following a new trader for more than 1 year because we all lose money at first.

Who cares if we open an account with $4000 and at the end of the year lose it all but learned a lot in testing set ups and developing experience/skill in reading the market. Then the next year we try again and make some money and then progress? the study never takes this into account so it is shit.

And if you measure time invested and money earned, for most day trading for a living is not a real living haha. It is shit money .

 

[tenny1886]

Everybody has to pay their dues.

as they say -
To get the clues,
Gotta pay the dues.

 

[remogul92]

Boy. An article that basically said what we all already know “new traders lose money” really pissed some people off. Damn. Lol.

 

[krugman25]

Boy. An article that basically said what we all already know “new traders lose money” really pissed some people off. Damn. Lol.

Not at all. Read the comments and you will find out this is what people got peeved about
"Daytrading for a living is virtually impossible"

 

[remogul92]

Not at all. Read the comments and you will find out this is what people got peeved about
"Daytrading for a living is virtually impossible"

True that. Think it struck a nerve?

 

[krugman25]

True that. Think it struck a nerve?

I think it probably is true that most don't, but "virtually impossible" is just trolling. Nobody likes a troll.

 

[remogul92]

I think it probably is true that most don't, but "virtually impossible" is just trolling. Nobody likes a troll.

Agreed!

 

[speedo]

Boy. An article that basically said what we all already know “new traders lose money” really pissed some people off. Damn. Lol.

 

[comagnum]

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.