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trickshot
Registered: Feb 2007
Posts: 659 |
05-17-11 04:03 PM
Quote from intradaybill:
Some facts I have realized in my 20 years of trading:
(1) Day trading is competing directly with market makers. Guess who is going to lose at the end? That does not mean that some people will not make it but the probability of not being you is very high.
Yes thats true, this is why I have always believed that its not possible to daytrade and make money in very efficient markets (which will inevitably be infested with bots/HFTs/etc). However this does not mean that every market/instrument is efficient, there will always be loopholes and opportunities, I arb'ed the crap out of such a "loophole" for over 4 years before too many market participants found out about it, but I already made a bundle from it so I am moving on to look for other opportunities in other markets/instruments.
Imo betting on direction for any instrument intraday is suicide, no egde will compensate any trader for taking intraday directional risk because the market is random (and more so in the very short run!), the odds of any trader winning is much less than 50% after accounting for trading cost.
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cornix
Registered: Jan 2011
Posts: 2806 |
05-17-11 04:03 PM
Quote from oilfxpro:
I never said it was not possible to make money out of trading , just agreed with the sentiment on many threads , the odds are stacked against day trading.
Swing and position trading is different , there are many profitable strategies , without the usual crap like stops etc.
It is not about odds. It is about professional abilities to do certain kind of things...
And I am very concerned about your words of strategies "without crap like stops"... It is very dangerous to think longer-term trades do not need stops... They probably need them more than day trades do, because you keep them overnight.
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survivortrader
Registered: Apr 2011
Posts: 7 |
05-17-11 04:13 PM
sounds like the post of somebody who lost a lot of money. if trading isn't for you, trading isn't for you, but there's a lot of good opportunities out there and you shouldn't act like day-trading is impossible. trading = zero sum game? day trading = negative sum game? come on man. You're just pissed off because you don't have the discipline to come up with your own system when you were looking for 100% returns.
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Fireplace
Registered: Feb 2010
Posts: 2327 |
05-17-11 04:23 PM
The odds are only stacked against people who don't have the time and/or the discipline to devote to learning how to trade. Once you learn even a basic approach and can show that you have the discipline to trade it properly, you can then build upon that basic system and have great success.
It does take time, and probably more time than most think it will when they enter the trading arena.
Quote from oilfxpro:
I never said it was not possible to make money out of trading , just agreed with the sentiment on many threads , the odds are stacked against day trading.
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