You're a Liar

Forex brokers aren't that bad, although I've heard of a few that refuse to pay out profits made and just close the account and ignore the client.
 
I stopped day trading and started swing trading. Mathematically there is more noise in daybrading which results in more noise (randomness).
Swing trading however has more predictability.
To make a living swing trading single leg directional futures/Forex you need a huge account.
Or you could structure trades using option spreads to create predictable income with low margin on a smaller account.
Really all you need to do is reverse engineer the math to find out if you can pay your bills through trading.
Formula for expectation of profit is one I refer to a lot when deciding what trades to take.
Also markets are priced in. You really need to have advanced knowledge or make predictions based on quantifiable data to make any $$$.
This is why I don’t trust 99% of the unsophisticated traders out there trying to say they are profitable. You are competing with some of the brightest and well informed traders on Wall Street; what makes you think you can beat them with your retail platform and retail tools??? Curious to know.
 
trader99 said:
Trading is a lumpy business. You probably make most of your profits a few months out of the year. The rest you thread water and some you lose a little if you are good at risk management.

That's why the daytrading mentality of making $X a day is SOO WRONG!
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Exactly. This Oct has been one of my best months ever, without which I would have only done ok this year, nothing fantastic, probably a little over 10%.
 
brucelevy said:
This is why I don’t trust 99% of the unsophisticated traders out there trying to say they are profitable. You are competing with some of the brightest and well informed traders on Wall Street; what makes you think you can beat them with your retail platform and retail tools??? Curious to know.
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Nimbleness. We can move retail sizes of few hundred K or M easily. Easy fills, minimal slippage. Big money don't have this luxury. Massive advantage.

As for using retail platforms/tools - price is price. We get the same price data, which is what we are trading, as the pros. Besides HFT, I do not see the advantage in fancier platforms.
 
What a idiotic thing too say that all retail traders trading forex is loosing.....Why doo you think Forex have trillions of dollars shifting hands everyday because everybody is loosing???because you cant doo it doesnt mean everybody is loosers....
 
OP, I told you and everyone else on ET how to be a winning intraday futures trader.

Not my fault that your ego won't listen and learn from someone who knows what you seek.
 
SteveH said:
OP, I told you and everyone else on ET how to be a winning intraday futures trader.

Not my fault that your ego won't listen and learn from someone who knows what you seek.
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so you going to help the guy out or just flap jaw?
 
Scataphagos said:
True dat.

Even if you're a day trader, you still make the majority of your profits from a small percentage of trades. The rest of the time, you get jerked around. To cope, you need to have knowledge and discipline. All kinds of ways to come up short.

My view on "consistency".... even if you get jerked around all day... and if you manage to "net 2" in the ES, that's still a victory. Not a big one, but you "got paid" for your time at the screen. And tomorrow is another day.
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I am just a wannabe crude oil trader (trading simulated right now) and you appear to be right on. Thursday, Oil when down $2.00 in 50 minutes. That is a $2,000 gain and if you could just average $2,000 per month per contract in oil you are a successful trader. I only got a fraction of that gain ($450 on the day) but Friday lost over $900 so I have a ways to go.

The reverse question is "Why is it so easy to lose" You don't even have to try. I marvel about just how easy it is. It is sooo easy to pick intraday tops and bottoms when you are on the wrong side. I just keep plugging because if it is that easy to lose then how hard can it be to win? It seems like I just need to engineer my brain to think in reverse.
 
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