The secret of daytrading

Evermore2017 said:
Poor people who place 20% in daytrading will end up 20% poorer.
The best decision would be to invest that 20% in yourself.
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Poor people who place 20% in non-daytrading will end up 20% poorer. Poor people should never trade in any way.
Trading you do with money you can afford to lose.
 
If you want real results, you need to get real. That means experience, hard work, and structure. No more dreaming of triple digit gains with 10k accounts. I analyze multiple frameworks of time, and excluding IRA’s, only run intraday systems.

Here is a YTD comparison of my returns:

Buy/Hold portfolio w/rebalancing- +15%
Intermediate/Swing portfolio- +18%
Intraday portfolio- +28%

That’s the reality. You need money and patience. If you’re looking for 280% gains with 20:1 leverage, ruination is right around the corner in the form of drawdown and/or possibly margin calls/liquidation.
 
TTT said:
Sweiz: I know that the long term can be very productive, it is also less stressful. The truth, if I had a lot of money I would not worry about the short term. I really believe that intraday is for the poor. However, if you do not have much money, you can allocate 80% of the account to the medium-long term, and the remaining 20% can be dedicated intraday to earn a living as an intraday merchant.
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Just like lottery is for the poor?
 
treeman said:
I’m kicking around the idea of starting a real money journal around random entries... now, I don’t know that I can do it (never tried), but As of right now, I think it’s possible to do profitably.. I’m still thinking on it. I’ve been meaning to give lightspeed a try, along with a fucking competent platform.
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You can try backtesting this, similar to random entry and exit: Buy SPY @ open and sell @ close the same day. At the end of each year, total up your gain/loss. You will find in most years you are profitable. I did that simulation and found it profitable. However, netted a loss due to commissions and slippages in most years.

You can also buy at open and close one week, one months or one years later and see that as you approach buy and hold your profitability also approaches buy and hold, net of commissions and slippages. Buy and sell randomly every week and every months were actually profitable most years. That is why after trying day trade, I moved to swing trade, at least in swing trade, statistics and cost of transaction are somewhat in my favor.
 
treeman said:
I was more thinking long/short would be randomized too, as well as trading instrument
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I would just throw darts or hire a monkey. We are clearly speaking about high tech trading. LOL.

Going to random things just proofs that you are a loser as you cannot find anything that works. So you switch to gambling.
 
schweiz said:
I would just throw darts or hire a monkey. We are clearly speaking about high tech trading. LOL.

Going to random things just proofs that you are a loser as you cannot find anything that works. So you switch to gambling.
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You didn’t read it, did you? I was suggesting I think I could make it profitable and I’m considering doing it just for shits and giggles. Goofball
 
treeman said:
You didn’t read it, did you? I was suggesting I think I could make it profitable and I’m considering doing it just for shits and giggles. Goofball
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Can you show me where you wrote: it is just for shits and giggles?
 
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