You are more likely to become a top Hollywood actor or popstar than profitable trader

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Quote from asiaprop:

nor should they be given the impression that all who claim "I am a winning day trader" are speaking the truth. 99% of all the publicized traders who have made a lot of money are swing or position traders, not day traders. I think this should help to keep things in perspective.
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99% of traders aren't publicized. Don't believe the hype of of the now defunct Trader Monthly.
 
Quote from crgarcia:

You said you have been a futures day trader for 10 years, right?

Send me your SIGNED account statements for the whole 10 years.
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Make that 20 years. PM me your address and phone number and I'll deliver my statements for the last 10 years in person. But note that I'm personally going to kick your ass when I show up at your door.
 
Don't tell him you are going to kick his arse.
See if he is willing to give out his details to a genuine offer.
One would suggest he should be open to the offer as he seems to think everyone else should give him their details to prove him wrong.













PS kick his arse when you get there :p
 
Quote from TrueProp:


No. I'm not sending any statements to be validated. Why not you ask? Well as you said, "Successful traders do not need to brag or inform about their success, they simply put in the work, period."
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No, but it's nice to take a good sum off a cocky blowhard by winning a proposition bet. Obviously for less than about $25k it's not really worth the hassle because you know they will squeal about fake statements, photoshop etc, so you have to pay 5-10k for lawyers for escrow, an accountant etc. Still, if anyone is willing to risk $25k (preferably more) to bet there are no successful short-term traders, I am happy to take their money.
 
Quote from asiaprop:

sorry I dont buy your bullcrap. 10 years futures day trader? Think about it, even if you traded over the past 10 years as day trader you probably hardly broke even (and why are you here anyway, you must be way too busy to watch your 6-10 screens 8-10 hours straight, everyday), in addition you must have turned into a complete wreck by now, stressed to the limit whether your positions move a point or not. Whatever you made or lost, I do not envy you the least little bit. I position trade and my life is busy enough with all the work that goes into that, but daytrading for 10 years, give me a break. You sound like as if you have reached an accomplished milestone, lol.

Can I prove you are just trying to stay afloat and talk your ass? No, but can you send us your audited statements? Otherwise I suggest we both shut up (if you did not post such bs there is no need to call you out). In my over 15 years in finance and 10 years in professional bank trading environment have I not seen a single successful day trader, I heard/read of a handful(literally handful) but sorry, I dont think you are one of the those very rare breed.

And please do not put me into the same camp than that OP, I dont agree with him, but at the same time I dont think you sound any smarter than him. Successful traders do not need to brag or inform about their success, they simply put in the work, period. I am just tired of this bs here, not because I love to flame, no, but because I think newbies are given such wrong impression and horrible guidance by morons like you!!!
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How much are you willing to bet against someone being able to display consistent profitability from intraday trading?
 
a) first you seem to confuse day trading with position trading. By your own admission you stated you position trade, so you are by definition not flattening your book by the end of the day.

b) you are blatantly ignoring broker statistic. Out of 100 day traders 95 fail early over the course of several month. They are very afraid to state the full statistics, nor can they because many traders who are in the business longer than a few months tend to change brokers once in a while or dont execute through one single broker. Stating that 1 out of 4 or 5 traders makes it is wishful thinking.

And finally, maybe I misunderstand what day trading is all about. Maybe you can educate me about the magic set up that allows a "day trader" to monitor a single stock or two on 1 or 2 screens without having to be vigilant throughout the whole trading session. Maybe you know the magic formula that makes some day traders trade off their sofa or from the beach in a relaxed state, knowing their stops before hand, and taking life easy, living a healthy life style. I have not hear such nor have I ever seen anyone practicing such life style and I am pretty convinced it wont work that way.

But keep on calling me delusional and ignorant. You seem to be the guy in the know. I would never set foot into any of those pathetic trading arcades in London or NYC but what I have seen on youtube was some wanna be "day traders" cursing all day, with coffee stains on their t-shirts, no education whatsoever, and getting night after night rejected by girls in night clubs whom those magic rain makers tried to convinced they are the next hero. But hey, must be that all the successful day traders are trading from home or at other shops. ;-)



Quote from TrueProp:

First of all, trading successfully for 10 years is quite an accomplishment, no matter the timeframe. I don't know tomdavis, but I am a prop trader, and I don't know ANYONE with 6 screens or anyone who stares at their screen for 8+ hours/day...except for people that work in various industries in corporate America.

I have been a full-time daytrader for almost 4 years (first & only job since graduating college) and I've begun momentum trading in my long-term account. Catching momentum moves for multiple points over a period of days makes for a better lifestyle, more liquidity, bigger positions, and more $$$$$. But don't think for a second that daytrading isn't highly lucrative. You can think it isn't, but do realize that that thought is entirely for your own ignorant benefit.

I know literally about 100 profitable daytraders. For every 1 of those 100, I've probably seen at least 4 or 5 people fail without ever making a dime --- which is not all that surprising since most people don't have the constitution to trade ANY timeframe profitably.

If you know any good traders, than you're probably familiar with the fact that trading is rarely stressful. The only time a trader becomes stressed is if they hold a loser too long or they just don't know what the hell they're doing. If position trading takes up so much of your time, I'm guessing your procedures aren't streamlined.

How, with confidence, can you double speak so easily? First you ask the guy to send you audited statements, and then a few lines later you say, "Successful traders do not need to brag or inform about their success, they simply put in the work, period." Really.

You worked at a bank. Why would you know successful daytraders? I imagine that you may view us (our rumored existence that is) with condescension. The thing is, we don't really care. We live by our own rules. I wear jeans and sneakers to the office everyday. If I don't want to trade for a day, a week, a month, I can do that any time I want. I can trade from anywhere in the world that I want to trade from. Again, you worked at a bank -- in what capacity is anyone's guess. Either way I'm not here to demean your career choices.

I really couldn't care less about crgarcia's opinion b/c his reputation of disgust for successful traders precedes him, so I regard his drivel as simple entertainment. But people like you that are so adamant about a lifestyle/career you clearly know absolutely nothing about I find to be....well...right at home here at ET.

No. I'm not sending any statements to be validated. Why not you ask? Well as you said, "Successful traders do not need to brag or inform about their success, they simply put in the work, period."

Night.
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I take that risk, PM me, I even pay for your first class airline ticket and hotel to the city in Asia I live. You made the offer, I publicly invite you.

P.S.: This offer applies to anyone with a 20%+ annual return track record over 10 years who wants to take a free vacation in one of the coolest cities in the world.

Quote from schizo:

Make that 20 years. PM me your address and phone number and I'll deliver my statements for the last 10 years in person. But note that I'm personally going to kick your ass when I show up at your door.
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for someone daytrading over 10 years with a consistent positive track record I am willing to bet a lot against. Take me up on the offer one post above.

Quote from Ghost of Cutten:

How much are you willing to bet against someone being able to display consistent profitability from intraday trading?
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