Registered: Oct 2006
05-20-12 03:56 AM
Quote from Xspurt:
Correct: the biggest day trader I know of has a small clip size of 4000 ES and full size is 20,000 ES in a single trade. If the exchange limit on a single trade was higher he would day trade trade bigger size. He never holds overnight and he's a quiet private trader working from home. There are no books about him, no big noises, zero attention.
He uses TA, has developed his own system but he also incorporates outside timing software that costs about $20,000.
There are a few great day traders on ET that I know of but they are not interested in posting anything of what they do, partly because the few who do post some information receive ridicule. The result is dumbing down threads like this abound whereas years back you got more quality posts by successful traders about what did work rather than failed traders telling the world what doesn't work.
Now there are even threads where nutters with multiple aliases chat to themselves. As others have explained, if day trading was that easy everyone would be at it. There was a time when it was that easy and everyone was at it but then the bubble burst and folks discovered there was more to day trading that riding a rampaging trend. The inverse of that is to think day trading can't be done and one notion is a sound as the other.
Just out of curiosity, what timing software is that? Is the 20k a monthly fee or a one time fee?