The intraday is a casino
- Thread starter TTT
- Start date
It's very good that some casino platforms started to accept payments in cryptocurrencies. I want to believe that in 2 years all casinos will accept crypto payments.
Pretty simple to consider: Do you know enough to trade one of the worlds top tier instruments?
It is 98% you, OP, that is the issue, not the ES intraday. Many trade ES intraday with no issues. Those who can't figure it out are the ones who claim it is not them that is the problem, it is ES that makes it "impossible" to get an edge.
You simply don't know how ES intraday behaves in the various conditions that will occur intraday over a year or two. People often underestimate who they are against in ES or overestimate their abilities and skills.
Why would one think they are so "smart" they could learn how to trade a monster like ES in a few months or few quarters. Ego Check Time. You can't even get a good sampling of the situations and their exceptions in that time.
ES is the equivalent of THUNDERDOME.
It is 98% you, OP, that is the issue, not the ES intraday. Many trade ES intraday with no issues. Those who can't figure it out are the ones who claim it is not them that is the problem, it is ES that makes it "impossible" to get an edge.
You simply don't know how ES intraday behaves in the various conditions that will occur intraday over a year or two. People often underestimate who they are against in ES or overestimate their abilities and skills.
Why would one think they are so "smart" they could learn how to trade a monster like ES in a few months or few quarters. Ego Check Time. You can't even get a good sampling of the situations and their exceptions in that time.
ES is the equivalent of THUNDERDOME.
Even one tick per day in the ES would net you $150K a year if you trade 50 lots at a time.
Most traders cant average even 1 tick per day.
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No he didn't say intra day was a slot machine.
He said a quote machine on your desk was like having a slot machine on your desk that you might end up feeding all day (presumably with impulsive trades). And that he preferred to look at end of day quotes.
I can tell he is a nice and knowledgeable guy, but it hurts my brain to decipher what he is saying. Maybe English is not his native language or he just does the Yoda thing %%
They're will always be some "random walk" in intra day trading; especially in the shorter times. Just ask the pro HFTers.....
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IF i got 95% of his quote right/that's fine with me.
Good points+ i use end of monthly quotes more than intraday.......................................................But no or low comissions were not in effect when he quoted that in the interview with Jack Schwager.[Edit\ should have labeled that a paraphrase, sounds like yours is also a paraphrase/thanks]
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