2014: The Battle for Survival

Discussion in 'Journals' started by neke, Jan 5, 2014.

  1. I wouldn't be surprised because I too daytrade (when market conditions are great for daytrading), its dumb to aim to make consistent money everyday though, the market is not an ATM machine that dispenses money on demand, most traders don't realise this and this is why they fail.
     
    #671     Jan 20, 2021
    comagnum, masterm1ne and d08 like this.
  2. My point is it took you forever to realise you didn't have an edge, 35% return over 10 years is puny relative to the time that was wasted on trading.

    I think deep down you probably know that you were just lucky with the 17500% gains from 2004 - 2011, between the insane martingale and fading strong moves you were always on the cusp of blowing up. This is why you have been making huge withdrawals from your account regularly. Traders who have confidence in their strategy and money management skills don't drain their accounts regularly, they compound their gains.
     
    #672     Jan 20, 2021
    d08 likes this.
  3. If I had neke's programming skills and time, I would just create a simple scanner to sell to people, day trading courses, and a youtube channel showing my "trading skills" to sucker in followers willing to pour money into me at the same time I pump up penny stocks using the platform to sell into my followers (essentially ross cameron, the slimey fuck).

    As for myself, I am gonna start just putting money in cheap dividend stocks and holding as long as I can. I have held cash in a bank for years which is retarded.
     
    #673     Jan 20, 2021
  4. Lucky for 7 years? Have you ever day traded? I don’t even think winning for several months is lucky. 90% of the day traders lost money, winning for 7 years is extremely talented and skilled in my opinion!
     
    #674     Jan 20, 2021
  5. Millionaire

    Millionaire

    2008 & 2009 were some of the easiest markets ever, a simple intra day breakout system would have printed money back then.

    Of course lots of traders lost money those years, but for momentum trading they were the best.
    Those years the markets made more big moves intra day during RTH, this last year a lot of the bigs moves were overnight. And the regular session was choppy.

    A lot of the simple strategies that worked well before 2009 stopped working as well after 2009.
     
    Last edited: Jan 20, 2021
    #675     Jan 20, 2021
  6. In my opinion, the winning possibility of day trading is not related to the market, there are so many stocks with the right volatility and volume to trade each day, you need the skill to pick the right ones and trade properly, long or short.
     
    #676     Jan 20, 2021
  7. Millionaire

    Millionaire

    You can make money every year as a day trader, but some years are so easy you can end up making huge returns. I mean turn 50k to 500K or more with a small drawdown.
    You just cant do that every year. For decades on end.
     
    #677     Jan 20, 2021
    trickshot likes this.
  8. I am a scalper, scalping works every day, it works for ever! :)
     
    #678     Jan 20, 2021
    jys78 likes this.
  9. Millionaire

    Millionaire

    Well there were trading arcades full of scalers in Europe, they were all printing money up until 2009.

    Then many of those arcades shut down. The old scalping strategies no longer worked.

    If you got something that works, milk it for all its worth, trade as much size as the market will take because it's not going to work ever.
     
    #679     Jan 20, 2021
    trickshot likes this.
  10. Okay, you won! Enjoy! :)
     
    #680     Jan 21, 2021