What the world's greatest trader says about daytrading
- Thread starter dave74
- Start date
I think when you are consistently making money, with a years expenses covered, you've made it. It could be $50 net perday after all expensis and you will be living a life that 95% of people are envious of.
Just my 2 cents.
8s
Just my 2 cents.
8s
Quote from open:
so what part of 95% you people don't understand
YES 5% know what they are doing
You think I am lucky for 13 years
BullShig
I met your wife so I would agree its not that your lucky. I do think the shorter a trade is the bigger gamble it is but for some people day trading is like a video game.
Actually your post is "nonsense". Success and achieving "world class" status are not even close to what I posted.
If you want to succeed at most anything in life you have to put in the time and effort to reach your goals. My "logic" in the previous post supported hard work can equate to success. You're the one stating people can't become "world class musicians" or an "Olympic athlete". Few do. But being successful at either of those two fields does not mean you need to achieve world class status. My former career prior to trading was engineering. Was I a world class engineer? No. But I did well enough and accomplished what I wanted to such that I was able to walk away from it and move into trading full time. And I worked hard at trading just as I did at engineering.
I traded in an office for a few years before going remote. I saw plenty of people who had no business trading. Those people also rarely put in much time outside of the markets . They failed. Others, myself included, did put in the time and worked towards our goals. I don't "need" to be a "world class" trader to consider myself successful. My goals are set by me and if I achieve them I raise the bar some more.
Quote from CFerret:
This is great news actually!
Cause I would never look at any profession where say 50% of ppl in the world can succeed as something that is worth spending time on... Cause financial results in any profession strongly correlate with the fact that if your professional qualities are RARE you can expect making good money.
If someone wants a profession so easy that 90% CAN do it, there are such professions: cleaning streets for example. But returns will be appropriate too.
So even 5% of those who really success is pretty much for serious profession IMO.
Well said !!!!
If it was easy we would have little girls doing it and it wouldnt pay much.....
No kidding, I mean PTJ is a great trader but he probably knows jack shit about daytrading in our day in age. He doesnt have to!
If I were him, I wouldnt know shit either because with his money, there is no way I'd spend my time glued to the screens everyday, I'd spend my time swing trading and enjoying being rich.
If I were him, I wouldnt know shit either because with his money, there is no way I'd spend my time glued to the screens everyday, I'd spend my time swing trading and enjoying being rich.
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