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

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Quote from Fireplace:

The KEY to what you said is 'when people start trading'.....one quickly learns after they have 'started' that a lot of work must be put in to succeed and those in it only for 'the money' quickly figure out that it's very difficult and move on to something else. The ones who persevere are the ones who truly love the challenges each new day brings and who are willing to get knocked off the horse many times, unphased.
Money is just the score. I, personally, want my score to go up, not because of what it represents in $$ terms but rather what it represents in personal trading growth.

That's the difference between you and me, you are looking in unable to understand what those of us inside already know and understand.

:)
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or they are fooled by the daytrading dream just like the lottery dream, its a dream nonetheless and nothing else.

i know a guy who won 350 million in a lottery, now should i go buy lottery tickets everyday?

some guy on a message board tells me to watch the screen of a cimputer 10 years 8 hours a day. then ill become a millionaire. what the heck, this is about crazy as it gets!
 
Are you mental? Anyone who comes into daytrading with this mentality quickly exits the game. It's NOTHING like trying to win the lottery. So any fool who thinks all one has to do is sit down, push some buttons and the money will roll in quickly learns this isn't the case and moves on.

See, this is the disconnect here, you think successful daytrading is just luck like winning the lottery. I'm saying it's not luck at all. If you base your entire argument on the idea that daytraders who are successful are lucky, then there is no hope for you to see the truth.



Quote from failed_trad3r:

or they are fooled by the daytrading dream just like the lottery dream, its a dream nonetheless and nothing else.

i know a guy who won 350 million in a lottery, now should i go buy lottery tickets everyday?

some guy on a message board tells me to watch the screen of a cimputer 10 years 8 hours a day. then ill become a millionaire. what the heck, this is about crazy as it gets!
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Quote from failed_trad3r:

or they are fooled by the daytrading dream just like the lottery dream, its a dream nonetheless and nothing else.
i know a guy who won 350 million in a lottery, now should i go buy lottery tickets everyday?
some guy on a message board tells me to watch the screen of a cimputer 10 years 8 hours a day. then ill become a millionaire. what the heck, this is about crazy as it gets!
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I know a guy who you can call who will tell you that if you make enough toasted cheese sandwiches you will see Jesus . . . load up on the bread and cheese.

Common sense is a rare commodity indeed.
 
Quote from ProfLogic:

I know a guy who you can call who will tell you that if you make enough toasted cheese sandwiches you will see Jesus . . . load up on the bread and cheese.

Common sense is a rare commodity indeed.
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common sense dictates daytrading has no edge. thats common sense. you people are all going against common sense. daytrading ignores premarket movements, which have increased so much last past years they move now more compared to intraday movements.
 
Quote from Fireplace:

Are you mental? Anyone who comes into daytrading with this mentality quickly exits the game. It's NOTHING like trying to win the lottery. So any fool who thinks all one has to do is sit down, push some buttons and the money will roll in quickly learns this isn't the case and moves on.

See, this is the disconnect here, you think successful daytrading is just luck like winning the lottery. I'm saying it's not luck at all. If you base your entire argument on the idea that daytraders who are successful are lucky, then there is no hope for you to see the truth.
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the truth? daytrading has no edge. common sense. you assume only money-hungry dumb people enter daytrading game. but also smart people will. based on failure stats of 90% and estimate 50% of people entering so 40% losing money are smart people. It's a huge waste of human capital. Smart people are exactly the type of people not to quit, even if common sense dictates daytrading has no edge. because they are smart.
 
Quote from failed_trad3r:

the truth? daytrading has no edge. common sense. you assume only money-hungry dumb people enter daytrading game. but also smart people will. based on failure stats of 90% and estimate 50% of people entering so 40% losing money are smart people. It's a huge waste of human capital. Smart people are exactly the type of people not to quit, even if common sense dictates daytrading has no edge. because they are smart.
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Your failure rates are overstated, at least according to the paper I linked above. Yes, the paper is a snapshot in time, but at least according to that snapshot, almost half of daytraders were profitable.

As long as people aren't even clear on the facts, there's no point in stating whether daytrading has an edge or not because any statement of that nature requires factual back-up and, as of now, there is nothing but anecdotal or selective evidence.
 
Quote from failed_trad3r:

common sense dictates daytrading has no edge. thats common sense. you people are all going against common sense. daytrading ignores premarket movements, which have increased so much last past years they move now more compared to intraday movements.
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You are clueless.
You are irrelevant.
I'm one of the first people to actively and openly promote pre-market movement as being an intricate part of the overall price action each day.
 
Quote from ProfLogic:

You are clueless.
You are irrelevant.
I'm one of the first people to actively and openly promote pre-market movement as being an intricate part of the overall price action each day.
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you are clueless
you are irrelevant
you make no sense and have no common sense:p
 
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