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oilfxpro
Registered: Oct 2007
Posts: 1600 |
05-21-11 08:26 AM
Quote from oraclewizard77:
Seriously, just because you need a 100 tick stop, does not mean there are those of us that have better systems than you, and can trade with small stops.
Its called an edge. It means I can predict the future, so that sometimes, I can get into a trade and not even take 1 tick of draw down.
When I talked to NoDoji on skype, we found that we took some of the same trades.
Trust me, she is also a way better trader than you, and per our pm's, she does not need a 100 tick stop either.
Also, its called a tick, not a pip. And, as far as I know both NoDoji and I still post on these forums.
10 pip stops get hit more frequently, 20 pip get hit less frequently and higher and higher stops get less frequently.Tight stops are not for everybody , unless u are a very good trader .Tight stops probably won't work for others.
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Ghost of Cutten
Registered: Aug 2009
Posts: 2625 |
05-21-11 09:01 AM
Quote from oilfxpro:
There are so many threads negative about day trading , it was time to ask why is there no successful day trader in the popularity of George Sorros , Jim Symons etc.
Trading is a zero sum game and day trading is a negative sum game.The only people making money out of it is brokers.
If it was profitable to day trade , brokers would hire people to trade with broker's capital.
A few internet marketeers are selling motoring , under the guise of successful day trading , but these are just scams.
Daytraders don't become super rich for one simple reason - scalability.
Profitable daytrading is still possible, despite the competition from algos - for example as a personal experiment I ran $5k up to over $100k in 2010 daytrading part-time over about 7 months, with minimal drawdowns.
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oilfxpro
Registered: Oct 2007
Posts: 1600 |
05-21-11 09:20 PM
Quote from Ghost of Cutten:
Daytraders don't become super rich for one simple reason - scalability.
Profitable daytrading is still possible, despite the competition from algos - for example as a personal experiment I ran $5k up to over $100k in 2010 daytrading part-time over about 7 months, with minimal drawdowns.
Scalability is not a problem in fx.4 trillion $ market daily.
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oilfxpro
Registered: Oct 2007
Posts: 1600 |
05-21-11 09:28 PM
Most are of the opinion it is a zero sum game.
A day trader has to find greater fools every day , during his day trading activities, to pay him more than what he paid for the currencies or instrument.These other traders paying him more money are bank traders and professional traders , who are much smarter than the day trader.
The day trader has to predict the direction to make money , he can't predict his own fate.
Who pays the day trader for his profit? How many fools are there greater than the day trader?
After costs , it may be safe to say , day trading fx is a negative sum game.Those who do not agree ,please post audited reports of day trading financial results for last 10 years.Justify your argument with evidence.
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ElecEquity
Registered: Jan 2011
Posts: 542 |
05-21-11 09:47 PM
Why entertain these same redundant thread titles if you're a profitable daytrader? These kinds of people will never relent. Just keep making money and move on.
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flyingdutchmen
Registered: Jun 2008
Posts: 204 |
05-21-11 10:05 PM
Quote from BLUEDAY000:
WTF is wrong with this FORUM ?
amazing isnt it
the market is random. it is impossible to trade. daytrading is a losers game. trading is a zero sum game. there is no such thing as an edge, its all a myth. my system has an profitfactor of 5.
you only have one post to read now on ET
[/tread]
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