Trading is one of the hardest roads but the potential is unlimited indeed.
Why market wizards are not day traders?
- Thread starter mr_byte31
- Start date
Trading is one of the hardest roads but the potential is unlimited indeed.
don't worry red duke. if you are familiar with the character of 'the doctor' played by tom baker or sylvester mcoy you will be able to understand my desire for 'credibility' - i am very aware of the impact of the different things i say, i'm not here to make alliances and get secrets out of people, I guess I wanted to continue my internal debate about whether to carry on day-trading in spite of the harm it does to my life by doing so out here. The only person whose opinion of my arguments and views matters to me, well effectively the only person, is me! So far you may be interested to learn that the debate is raging. I'm very sure I don't ever want to day trade ever again but I have begun looking at more back tests of more day trades, perhaps just out of habit, to remind myself that it really does work.
If you want to learn something new, in your case, I suggest an author called Idries Shah and the topic of "being the master of the option" (in this case the option to trade) (just because you CAN be a day-trader does not mean you should - that's the debate i'm having).
Thanks for all your help, all of you. Your info and responses are all very helpful. I'm still not sure what I'm going to do although I set out with an a priori that I'm not going to do it. However I am subjecting that new directive to challenge. It'd be a shame to needlessly waste opportunity.
but thanks for caring. however, credibility is of no use to me. it wasn't before corbyn and it certainly isn't now we have him. 'credibility' just means 'p.r.' - edward bernays, rienhold niebuhr, and that bunch of slippery ones. we are scientists, that is my a priori - ie good traders are scientists. and that's what we/one should behave like. i'd day trade, if i didn't think it was a bad thing. and i'm thinking about whether or not to carry on but i'm not going to. but i'm going to consider it carefully. and consider whether i love money and am greedy and want to overrule myself and put the money in charge (i suppose - that's what's really going on, i guess, like something played by richard e grant, ie 'how to get ahead in advertising' but the banking version)
I like your style and your posts, but one criticism, you have not been on ET long enough to know the ways of some of the more long standing posters.
Your comment which I have quoted above is out of line I believe, what may appear to be 'a foul mouthed agitated geezer' is actually someone expressing themselves with a bit of humor, just having a dig, you have taken it the wrong way, it was not meant to be offensive, just quirky, that's my interpretation as I have been on this site longer than many. That particular poster was prolly trading profitably when you were still at school, no offense meant.
Anyone who writes such conssitently long winded posts is just masking the fact that they are full of shit. Since you hate day trading so much, don't let the door hit you in the ass on the way out.
As for my language.....sorry it hurt your feelings.
That is what you get when you come in here lecturing us on your genius and mastery...
Geez..a mathematician and you write like someone who has been ignored most of their life.
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When so called traders make numerous bold claims of prowess AND talk too much, my BS meter hits full scale.
Most successful traders usually talk about things other than themselves and for the most part don't suffer from verbal diarreha.
Looks like you may have painted a target on yourself, watch for incoming fire.
what's interesting is how little most of you pay attention to what matters to the scientist (financial scientist but also psychologist, clearly) hypothetically making the analysis
you have shown me that as well as all the anxiety effects i can see occur with day trading, no matter how successful, inevitably, at numerous points in any average year, personality defects are abundant among those who trade too labour-intensively!
whether or not you dislike chomsky doesn't change whether or not i beat the market and you don't
but this is an answer to the first (polite) question i was asked - well if you want to know this is the alternative to day trading, for me...
little lots of £200, which buy me a virtual property and it generates, most of these lots, something like £50 to £60 per year; some of them go for more than a year not generating any 'rent'
you stack them up, you hedge them properly, and it's as easy as that; owning a virtual thing which generates rent
now surely anyone here can appreciate how much more pleasant that is than day trading even if your day trading makes you x amount of 'big bucks' this week or that (but not the other)
anyway. it hasn't really taken that long to conclude my debate. largely because backtesting reminded me of the horror, i am certain that i never again want to be a day trader. now anyone genuinely credible KNOWS i'm a threat, if they ever for any odd reason read this material!!
thanks all for your highly useful information and demonstration of the compulsive and psychotic nature of 'successful traders'!!
i'll stick to being poor, thanks. for now.
you have shown me that as well as all the anxiety effects i can see occur with day trading, no matter how successful, inevitably, at numerous points in any average year, personality defects are abundant among those who trade too labour-intensively!
whether or not you dislike chomsky doesn't change whether or not i beat the market and you don't
but this is an answer to the first (polite) question i was asked - well if you want to know this is the alternative to day trading, for me...
little lots of £200, which buy me a virtual property and it generates, most of these lots, something like £50 to £60 per year; some of them go for more than a year not generating any 'rent'
you stack them up, you hedge them properly, and it's as easy as that; owning a virtual thing which generates rent
now surely anyone here can appreciate how much more pleasant that is than day trading even if your day trading makes you x amount of 'big bucks' this week or that (but not the other)
anyway. it hasn't really taken that long to conclude my debate. largely because backtesting reminded me of the horror, i am certain that i never again want to be a day trader. now anyone genuinely credible KNOWS i'm a threat, if they ever for any odd reason read this material!!
thanks all for your highly useful information and demonstration of the compulsive and psychotic nature of 'successful traders'!!
i'll stick to being poor, thanks. for now.you are pretty naive to imagine YOU can hurt MY feelings...
i mean anyone objectively reading these conversations isn't going to list me as the one who is deeply offended by what the other is saying, or the one who basically can only respond to the other with strings of essentially-mindless insults
nope. you cannot piss off a good trader except by being a market which beats him/her.
anyway. fair enough people. i think i have understood much about day trading from this little encounter. ie the questions i had about day trading are well answered. it is nothing but brawn. any idiot can learn how to do it successfully.
the mickey, thank you for your compliments. i'm afraid as a longtime techie nay hacker and network programmer my day with forums was a LOONG time ago - me and forums have never got on - the protocols etc fly in the face of my anarchism - i wasn't intending to come here and become an integral part of a forum community, i just needed to figure out whether or not to day trade and i guess i have concluded that no, it is a damn fool idea
my method is way better - little lots of £200 (so any idiot can slowly build a portfolio) which basically each generate a relatively guaranteed 'rent' of about 30% per annum on average, but varying, with some remaining dormant for long periods, even years, properly hedged to prevent a major crash seriously harming the 'treasury-size' - with patience i'll be way way richer than i am today. who needs a stressful thing like the street-fighter variety of trading known as 'day trading'? not me. i'll leave that sort of tomfoolery to tyler durden, eh?
have a good one, my friends. remember that science, not you, is the master of the market.
to others here who like to insult people and so have a field day when meeting me - here's one you can play with - i'm such a joke, me, that as a network programmer i built anti-establishment web presence which helped birth corbyn which was so 'dangerous' to weakling fake capitalists, at its most recent peak activity time, that an MI5 whistleblower had to come and warn me that my 100% legal journalistic activities had the pre-corbyn establishment hugely on my case - because my writing and viral website reached just about every major town and city in the UK and most of the USA and it was all pure virality, no marketing, no advertising, no nothing... but hey. call me all those names you like to spray out at anyone you disagree with. maybe you'll find one which is accurate, by pure chance. ass-hole, maybe. that's probably accurate. even a stopped clock shows the correct time twice a day, eh?
yeah. anyway. fuck that. to anyone sound herein i say this - i myself am not going to bother with day trading. i hope you don't either, for it's throwing bits of your life away. money isn't that important and besides, you can get way richer by NOT being a day trader, and not even lose all that time to sitting pinned to a machine, in body or mind!
one day i'm going to go to a planet where amazingly brilliant and successful people are obedient and quiet and blend in and lurk and fit in and obey orders. for now i shall stay on the planet we currently live on though
yeah. anyway. fuck that. to anyone sound herein i say this - i myself am not going to bother with day trading. i hope you don't either, for it's throwing bits of your life away. money isn't that important and besides, you can get way richer by NOT being a day trader, and not even lose all that time to sitting pinned to a machine, in body or mind!
one day i'm going to go to a planet where amazingly brilliant and successful people are obedient and quiet and blend in and lurk and fit in and obey orders. for now i shall stay on the planet we currently live on though