Why Daytrade????

Quote from luckyluciano:
Check out the Trader p/l 2007 thread ...our Member MBAgearhead...$100 into over $800k so far this year
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Quote from Szeven:
He claimed this?
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For the record, I never claimed this and Lucky needs to check my posts since Jan. 1st (I've posted P/L everyday I've traded this year.) In summary he will find that I lost $7.6k thru May and I made $202k June through August. I have never stated my starting account balances but will add that beginning June, I started trading a much larger account.

As lescor and others have pointed out, daytrading can be very lucrative and is a career choice many find very challenging and rewarding. That is why I daytrade.
 
Quote from MBAGearhead:

For the record, I never claimed this and Lucky needs to check my posts since Jan. 1st (I've posted P/L everyday I've traded this year.) In summary he will find that I lost $7.6k thru May and I made $202k June through August. I have never stated my starting account balances but will add that beginning June, I started trading a much larger account.

As lescor and others have pointed out, daytrading can be very lucrative and is a career choice many find very challenging and rewarding. That is why I daytrade.
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So Lucky invented the story. Thought he was your alter ego.
 
I agree that people who say day trading is a waste of time simply dont know what they are doing. A good trader should be able to trade multiple timeframes depending on market conditions IMHO. I am primarily a swing trader as well (2-10 days) but I also have some position trades with can last several months. As a breakout trader I trade the same patterns on a 2/5min chart as on a daily/weekly chart. When the market gets volatile like it has been the last couple of months swing trading can be quite difficult, but the large intra-day moves in this volatile market can be very lucrative for an experienced day trader.

And contrary to what some might believe not all daytrading is scalping for $0.10 - 0.20 on a 1-2min hold. I typically hold my day trades for several hours and look for $.50 - $5.00 continuation type moves instead.

I cant understand for the life of me why anyone would pay good money to drive a Hyundai, but I'm sure there are people out there somewhere who have had good luck with them.

Cheers!
 
Hi everybody,
It's always important to ensure that you don't bring a knife to a gunfight. When trading if your tactics aren't appropriate for the situation you're going to end up getting killed!

p.s. Craneman just to satisfy a Riggers' curiosity what brands do you deal in!

Best Regards

Johno
 
Quote from Johno:

p.s. Craneman just to satisfy a Riggers' curiosity what brands do you deal in!
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I primarily trade equities and options, some futures.
 
Quote from retire45:



4. Patience waiting for the right conditions.. A great setup can make your month in a week if you wait for it as it WILL come.. ALWAYS does...
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retire 45,

I'm quite new to swing trading, gave it a try a few years ago , but that didn't seem to work out, I was probably doing things wrong. But I might be interested in giving it another try ...

How do you define the 'right conditions', what is 'a great setup' ...
Do you look at the broad market indices before you put on a trade in an individual stock ...
Any books you could advise to read on swing-trading?
 
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