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Old Dec 17th, 2011, 09:38 PM   #55
Lucrum
 
 
Join Date: Dec 2003
Location: Canton, Georgia
Posts: 37,819
Quote:
Quote from emg:

More than 90% of small traders lose! They just lose!
This reminds me of a sale I made on Ebay. It was a hybrid "In the waist band/out of the waist band" holster. Because the stupid buffoon couldn't figure out how to unsnap the belt loop holders and reconfigure them he accuses me of selling him something other than what was advertised.

IOW because he can't do it nobody can.
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Old Dec 17th, 2011, 11:09 PM   #56
masterm1ne
 
 
Join Date: Dec 2009
Posts: 917
Quote:
Quote from emg:

More than 90% of small traders lose! They just lose!
emg's post count is probably actually 4, if you subtract all the posts where he spams this line, preceded by more glass half empty thoughts.
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Old Dec 18th, 2011, 11:09 AM   #57
JunkbondS
 
 
Join Date: Dec 2011
Posts: 10
Quote:
Quote from NoDoji:

The bots (programmed trading) make day trading predictable and profitable if you take the time necessary to learn to recognize the price footprints that trigger them.
You must be very new or one of those folks who never change ( the TA cult from 1990s) to honestly believe bots never chnge thus leave predictable "footprints". bots are built to evolve and constantly change thus the effectiveness.

Please stop leading others down th primrose path with ignorance.

Day trading is not dead but your version of it is long gone.

Traders, be ver cautious of those who speak from authority but don't understand he most basic market premises. There's a psychological or monetary motivation to these types of misleading "fact" statements.
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Old Dec 18th, 2011, 01:36 PM   #58
dealmaker
 
 
Join Date: Dec 2006
Location: SF Bay Area
Posts: 789
emg


Registered: Feb 2010
Posts: 2964


12-16-11 11:26 AM

More than 90% of small traders lose! They just lose!




Tell us something we do not know!
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Old Dec 18th, 2011, 02:02 PM   #59
Lights
 
 
Join Date: Sep 2003
Posts: 1,184
I agree. This year was my best daytrading year since 2008.

Quote:
Quote from tortoise:

actually, i think swing traders are dead. this is daytrading heaven
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Old Dec 18th, 2011, 02:30 PM   #60
NoDoji
 
 
Join Date: May 2008
Location: Location Location
Posts: 9,386
Quote:
Quote from JunkbondS:

You must be very new or one of those folks who never change ( the TA cult from 1990s) to honestly believe bots never chnge thus leave predictable "footprints". bots are built to evolve and constantly change thus the effectiveness.

Please stop leading others down th primrose path with ignorance.

Day trading is not dead but your version of it is long gone.
You are correct, I am quite new, having never traded before 2008.

However, in the 2 years since I learned to trade price action, certain price patterns have resulted in minimum price moves with such a high rate of positive expectancy that I believe programmed trading has to be responsible. Institutional traders and investors move price, not small retail traders, and these large players tend to utilize programs that trigger buying and selling.

If you have a better explanation of it, please share.

My mentor's been trading for a couple decades and he's provided me with ample charts showing the same price action setups I use to trade. So these patterns appear to have been working much longer than just the brief time I've been trading this way.

FYI, I do not care one bit if my version of day trading is long gone because it has produced an unbroken run of profitable days as long as I've been aware of it.

Just as I don't care whether my mentor has ever traded, or whether Al Brooks has ever traded, or whether Mark Douglas has ever traded, or whether Jack Hershey lives with a llama and has a tax lien against him. Every one of these folks and the "cults" they promote were key influences in my current profitable understanding of price action.
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