Day trading a suckers game?

Discussion in 'Trading' started by BearTrades, Dec 24, 2019.

  1. Pkay

    Pkay

    You can't trade the ES with a $50,000 account??
     
    #71     Dec 28, 2019
  2. Pkay

    Pkay

    Why do your say that it's easier than you think? Most people say it's very hard, harder than swing trading?
     
    #72     Dec 28, 2019
  3. Pkay

    Pkay

    Do you mind sharing the bare bones of your strategy? Thanks.
     
    #73     Dec 28, 2019
  4. fan27

    fan27

    You missed a key part of my statement which is "make a living".
     
    #74     Dec 28, 2019
  5. expiated

    expiated

    Because they seem to show a trend so well, I kind of fell in love with Heiken Ashi Candlesticks several years back. However, I very much disliked how they distorted the true location of each candle's open and close, so I set about finding one or more moving averages that could replace them and be plotted over normal candlesticks. I now have three to choose from, which I count as part of my edge over former institutional/proprietary and fellow retail traders...

    OANDA - MetaTrader.png
    Heiken Ashi Candlesticks on the left...substitute moving averages on the right
     
    #75     Dec 28, 2019
    syamrajk, Pkay and Real Money like this.
  6. speedo

    speedo

    This place is well stocked with those who will tell you what you can't do. Do your own work and draw your own conclusions...and yes, any competent, experienced trader can earn a decent living on 50k in the ES without undue leverage. Most will never develop the discipline, competence or experience but that's up to each.
     
    #76     Dec 28, 2019
  7. imjohn

    imjohn

    This is same for me. I get a handful a day. Definitely able to recognize times when a setup is imminent vs times when there won't be anything to do for a while.

    I've read other posters talk about staring at screens all day or a need for hyperfocus... I don't doubt other people have that experience, and I hope their results are worth the effort. But day- to-day reality for me is a few brief periods which demand heightened focus, interspersed among a LOT of relaxed periods that require very little attention.

    Prior to trading, I spent a decade in another field where I commuted an hour a day in maddening traffic, to then stare at screens or sit through sleep-inducing meetings for 8-12 hours a day. I had no complaints about the pay, but the work was mind-numbing and sucked the life out of me. I had colleagues who were in the job for 30+ years and I knew some who unfortunately died 2-3 months post retirement.

    I've often recited a quote to myself "If a man makes two-thirds of his existence subservient to one-third, for which admittedly he has no absolutely feverish zest, how can he hope to live fully and completely? He Cannot."

    That said, I get it if a person's circumstances chain them to a job they despise, I've been there, and feel fortunate that I was eventually in a position where I had the time, resources, and inclination to learn trading, because I greatly enjoy it, and don't recall any days where I've dreaded the thing. Sucker or whatever, to each his own here on Elite Opinion.
     
    #77     Dec 28, 2019
    TastyOnion, KDASFTG, syamrajk and 4 others like this.
  8. speedo

    speedo

    :thumbsup:
     
    #78     Dec 28, 2019
  9. Pkay

    Pkay

    Thanks, I thought that $50k was more than adequate to trade ES. And you are right, there are more than enough people here telling all and sundry about what they can't do.
     
    #79     Dec 29, 2019
  10. Pkay

    Pkay

    That's interesting, what moving averages do you use? Thanks.
     
    #80     Dec 29, 2019