Day trading article on

Discussion in 'Wall St. News' started by loik, Mar 28, 2010.

  1. jnorty


    Lol the truth is few people make 100k a year net. But this is a tough profession and if one can't net 200k a yr its not worth it. why didn't they profile marc sperling who's made 7 figs 10 straight yrs and who's probably averaged $3-$5 mil a yr avg.last week he had a 6 fig day.And to boot he's a very humble guy. I'm sure lescor knows who he is and can attest he's one of the best day traders of all time.But it gets back to the fact that 95% of people lose in this game.
    #11     Mar 28, 2010
  2. LOL measly 60 bucks. The fools work so hard daytrading.

    Options is where its at. Amateur hour and slot machine operators churning day in day out putting so much at risk for McDonalds wages.
    #12     Mar 28, 2010
  3. LOL!!
    #13     Mar 28, 2010
  4. So far options is the only way I've found to really make any money at all.
    #14     Mar 28, 2010
  5. siki13


    Thing that is strange from my point of view is if you`r trading anything above 5min chart, fear of "competing against mega-institutions that are trading in hundredths of a second" should not be an issue .
    But then again if he is scalping to catch an uptick and puts stop loss few ticks away (he mentions that) maybe his fears are justified.
    #15     Mar 28, 2010
  6. Of course. Because Daytrading equities is like playing Tic Tac Toe with a house rake.

    While Options is more like chess.

    " This reputation for ease has led to casinos offering gamblers the chance to play tic-tac-toe against trained chickens called chick tac toe—though the chicken is advised by a computer program.[1]"

    Chicken being Goldman Sachs and its evil HFT platforms :)
    #16     Mar 28, 2010
  7. love the pic of his daughter hopping arnd while hes trading:D
    #17     Mar 28, 2010


    I did just what you may be contemplating -- left my engineering job 14 years ago. No regrets either. Hard to believe (per the author) that just 1% are making decent $$$. My career was rewarding financially but the politics and other BS made trading look so attractive. The freedom one has is not easily quantified by any dollar amount. For the past 10 years I've volunteered at inner city schools a few days per week after school. I may sacrifice a few $$$ in profits by knocking off early to do this but the satisfaction of helping kids is more than the dollars I might have made trading a bit longer each of those days.
    #18     Mar 28, 2010
  9. Cheese


    Day Traders 2.0: Wired, Angry and Loving It
    This is small time, modest, amateur, not professional and not going very far. Nevertheless I hope very much that it continues to work out for them.

    In contradistinction when you go into a liquid and volatile futures market (eg CL) you can get hold of the metrics, nail that done, and with a reliable methodology build up your money results, consistently, day on day. You only expand your position size very carefully which nevertheless helps to multiply your level of net gains. All this will only appeal to those ambitious few who can elevate rationality, focus, concentration and dedication into wealth.
    #19     Mar 28, 2010
  10. The dentist and doctor part -

    Good doc or not, the insurance for their medical practising + their student loans = slavery from 20s to mid and late 30s, and then just like insurance companies themselves, one disaster event (i.e. lawsuit) your career is likely over.

    Risk to reward does not justify being a doctor in US anymore.
    #20     Mar 28, 2010