What if I tell you day trading is a losers game - James Altucher

[Swan Noir]

This guy needs a doctor. Better yet a team of doctors. I'll admit I didn't finish it but what I did read was garbage.

 

[NoDoji]

Quote from hanzahar:

And it’s true – they do have that one special something. But you can’t get there by day trading first. You can skip right to the being happy part. You can skip right to being free.

But we never learned that. We were taught we had to do something first to earn freedom. We were taught that suffering was the currency to buy happiness.

"Isn’t that why you want to save the world in the first place? So that you can be happy? Well, skip the middleman, and be happy from here! You’re it.

- Byron Katie, A Thousand Names For Joy

 

[NoDoji]

Quote from trader198:

people lose is they try to seek 100% sure thing or risk aversion.

that is why they keep searching ways to trade.

+++

 

[Vishnu]

Quote from NoDoji:

"Isn’t that why you want to save the world in the first place? So that you can be happy? Well, skip the middleman, and be happy from here! You’re it.

- Byron Katie, A Thousand Names For Joy

great quote

 

[tradingjournals]

Theorem proved by contradiction: Any individual lacks either capital or knowledge of trading (or lacks both).

 

[R. Raskolnikov]

Reading books and believing in magic won't get you far in this business. You have a long road ahead of you if you want to be successful in trading.

Quote from franz-k:

Read trade like a hedge fund. Think those strategies worked back then, you betcha! Some still work like magic.

 

[toc]

Quote from R. Raskolnikov:

Reading books and believing in magic won't get you far in this business. You have a long road ahead of you if you want to be successful in trading.

Would agree partially. Reading books and lots of screen time both backtesting and real time is the way to learn about markets. A good chart reader can have a two second look at the charts and get a decent sense of what is going on.

 

[Sergio77]

Quote from toc:

Would agree partially. Reading books and lots of screen time both backtesting and real time is the way to learn about markets. A good chart reader can have a two second look at the charts and get a decent sense of what is going on.

He is correct about reading books not being helpful because mostly what you read regards experiences and experiments of authors and the details cannot be comprehended abstractly but only through experience.

 

[trader198]

on the contrary.

you should always aim for turning 2500 into 1m the first year

otherwise you find yourself you are not taking trades, you are managing to avoid risk, i.e., the reward.you may backtest, you may study too manybooks/materials/tutorials, in a sense,sit before the computer watch tick to tick change, you are wasting time on those all printed histories/experiences.

if you want to become a swimmer, you must jump into the water to learn swimming, any moment, the water current/temperatuer is unique, you must do it from the moment you want to be a swimmer to feel the temperature/currents, and your body will automatically adjust to them!


trading is the same. people often list some pre-requirements, that is not the right way to do things! they think they need good enough capital, they need good trading skills, they need ...

those are just exuses for failure just before trading is started!

REACH SUCCESS does not have pre-requirements! or pre-conditions!

losers lose just before they start, they have too many pre-conditions (under the skin are execuses)!

Quote from cmb:

I disagree with everyone who says anything along the lines that you can't earn money daytrading.



However, dont expect to turn 2500 into 100k in your first year ( although I agree it can be done). It takes hard work, and just when u think you are gonna make it, you will have 2 trades in a row that will crush you.

but keep your losses small and you will survive.

 

[tradingjournals]

Quote from trader198:

on the contrary.

you should always aim for turning 2500 into 1m the first year

otherwise you find yourself you are not taking trades, you are managing to avoid risk, i.e., the reward.you may backtest, you may study too manybooks/materials/tutorials, in a sense,sit before the computer watch tick to tick change, you are wasting time on those all printed histories/experiences.

if you want to become a swimmer, you must jump into the water to learn swimming, any moment, the water current/temperatuer is unique, you must do it from the moment you want to be a swimmer to feel the temperature/currents, and your body will automatically adjust to them!


trading is the same. people often list some pre-requirements, that is not the right way to do things! they think they need good enough capital, they need good trading skills, they need ...

those are just exuses for failure just before trading is started!

REACH SUCCESS does not have pre-requirements! or pre-conditions!

losers lose just before they start, they have too many pre-conditions (under the skin are execuses)!

I think you are a thinker trader198, but I have question: if people lose in trading it means they have tried, which means they did not have excuses for failure. Any thoughts on this?