Tough times ahead for daytraders

[traderpro]

Quote from Red_Ink_inc:

I couldn't disagree more. I know a lot of very good traders. Guys to whom making $50,000k+ in a day (on good days) isn't very exciting. At least 50% of them had career months in September. Some absolutely demolished their records.

If and when volatility dips they will simply make adjustments to prosper in that environment. There is aways a way to make money. You simply take what the market gives you and use it to your advantage.


The traders you know are either more suited to a lower volatility environment or they aren't very good. Just because a trader goes on TV doesn't mean he knows his stuff. CNBC even had Timmy Sykes on a few times, and Kudlow (while not a trader) has his own show !!

I agree red-ink the markets have been awesome to trade.

 

[MandelbrotSet]

Quote from Surdo:

You are obviously new to trading! The past two months' volatility have been some the best markets for short term traders.

Anybody that could not make a few bucks this past week should consider another venue.

el surdo

Quote from Surdo:

I beg to differ...there will always be volatility and volume in the currency markets as well as the interest rate complex.

If and when the equity markets ever dry out, there will always be other markets to exploit my common thinking friend.

el surdo

el surdo is absolutely correct in his posts, as are the other professionals who have weighed-in.

The equity markets have given amazing profits along with this extraordinary volatility, if you are not profting from this experience simply re-align your trading, and then your thinking, to identify the dominant trend which has millions (if not billions) of dollars behind it, and trade accordingly.

This is (relatively) easy to do with your trading, much more difficult to do with your thinking.

Good Luck

 

[soseki]

Certainly not bad days for daytraders. Bad and good periods for them change very often and dont last for too long.
It looks more uncertain for longer term and position traders for sure.

 

[bestfriend]

I had my best month in 10 years by a factor of 2.5 over my previous best month. everyone I know did extremely well.

However, i agree that a declining market will lead to lower volume ,w ealth contraction, and great difficulty making profits.

I think thta's the ultimate outcome, so you should make $ while we are really volatile.
Intersting that SS ban expires on Yom Kippur.

Recall the old saying,m"Buy rosh hashana , sell yom Kippur?"

Well, we gapped down huge last Monday at the close, rallied on RH. If we gap up big at the close on Wednesday, I'll be selling the market ahead of Thursday.

Go atheists!

 

[katesdp]

It's Sell Rosh Hashana Buy Yom Kippur

 

[stock_trad3r]

The volume and CME's and bots and ice's reporting record trades.

 

[invertedCurve]

I had my best month ever, I guess it's a little different since I trade Cash/Futures. I know friends of mine who had 500K days last week if not more! With 3-4 primary dealers in US treasuries gone in the last 3 months there are no market makers who will fill their void? A Euro bank? - no they are getting blow out! Black Boxes are off and this is awesome trading. The F%CKING spooz had a 80 handle range today two years ago it would move 40 handles over 6 months!

 

[Pa(b)st Prime]

Quote from invertedCurve:

I had my best month ever, I guess it's a little different since I trade Cash/Futures. I know friends of mine who had 500K days last week if not more! With 3-4 primary dealers in US treasuries gone in the last 3 months there are no market makers who will fill their void? A Euro bank? - no they are getting blow out! Black Boxes are off and this is awesome trading. The F%CKING spooz had a 80 handle range today two years ago it would move 40 handles over 6 months!

I'm glad to hear you're doing well. Are you a basis trader?

 

[ForexPro]

Interesting thread.

I dont like this environment. The reason being due to wide ranges, i use less size, and my stops are wider.

Furthermore, there are always tape bombs going off, at any time during the day.

How you guys get round those problems?

 

[short&naked]

Quote from ProfitTakgFool:

Any trader who needs a trend to make money is not a good trader. The movement over the past few months has been the best I've ever seen.

Then Buffet and Lynch are fools in your book.