Article: "Day Traders: Dumber Than Ever"

Discussion in 'Trading' started by zanek, May 12, 2010.

  1. I.e. extremely easy money.
     
    #41     May 14, 2010
  2. The reality is that many daytraders are overleveraged and undercapitalized, overconfident and undertrained, and most cannot make a living off of their trading.

    ET's own ES Journal suggests that the turnover in this business appears to be that of McDonald's.

    It is much more profitable to create a business teaching others to trade--that is the easy part (eh, "Fools"!). Actually trading, and making a long-term living doing it--that is the hard part.
     
    #42     May 14, 2010
  3. gaj

    gaj

    don't know if i'd agree with the 'much more profitable' part, since i don't know what the high end marketers are making. but it's definitely easier to teach people the basics, rather than trading and learning more than the basics.

    part of trading is only easy in hindsight. learning how others see things (basic TA) is the simple part. finding your edge, having the discipline to stick to only the things that work for you, avoiding the trendy stock/sector if it's not right for you, pressing when you've got things lined up and knowing when to slow down, kn owing when a near-perfect setup isn't going to work and you need to get out, pronto - THAT is the hard part of trading.
     
    #43     May 14, 2010