Day trading as a living should be impossible

Discussion in 'Professional Trading' started by abdul_mcgee, Nov 10, 2010.

  1. another fake thread started by a new nick
     
    #21     Nov 10, 2010
  2. It's called day trading for a reason. You're typically flat overnight so as to not be exposed to the "outlier events" that you speak of...and you stand ready to make trades when crazy things happen during the day.

    I wish there was a flash crash every day, that was real easy money.
     
    #22     Nov 10, 2010
  3. That's what I wish too. There will be big money opportunities. But I wouldn't say it's real easy money. It takes a lot of guts (and experiences definitely help) to trade in those environments.

    I miss 2008. :)
     
    #23     Nov 10, 2010
  4. There are opportunities right now for good money without needing to day trade. Just need to know where to look and where they are.

    Although I agree the vol was great while it lasted.
     
    #24     Nov 10, 2010
  5. You use other peoples leverage. Such as with a prop firm like bright. Otherwise you are correct. It's impossible unless you get extraordinarily lucky
     
    #25     Nov 10, 2010
  6. Please, tell me more :)
     
    #26     Nov 10, 2010
  7. Wait, what do you mean by I am correct and it is impossible?

    Say there is a 6% median in a bull 3x and further, say you are right 40% of the time. I hope that is not out of the ballpark for good traders.

    Now if we use the rule of 60, that is, I don't pick tops or bottoms but make money in the 60% in between, that is a full 3.6% position swing possible on a median day (average is similar). Do you mean to tell me that if you could even get 1% of that, it is not possible?

    So what are you doing on this site? Do you make money from trading?
     
    #27     Nov 10, 2010
  8. You are not getting it. Put up 25 to 50k at bright. Get access to millions in buying power. That's what it takes to make it. The real strategies that make real money demand big capital. Otherwise you are just guessing with overoptimistic and unrealistic expectations.
     
    #28     Nov 10, 2010
  9. I guess that you were born yesterday. The outlier events that I referred to happen exclusively INTRA-DAY and before you started trading 6 months ago, it's a head's you win, tails you lose in so far as whether you are lucky or unlucky enough to be positioned on the right side of some surprise announcement.
     
    #29     Nov 10, 2010
  10. luisHK

    luisHK

    I think you shouldn't use last week as a reference, anybody betting long made good money. I made around 9% on the Hang Saeng, without trading at all, and well over 10% in US stocks with a few daytrades in the mix and definetely without much of a clue of the market - got crushed the week before :(

    Better do further paper trades during more challenging periods.

    As of your spending for a family of 4, I actually find it low, but expecting to ensure that income from only 100k capital and day trading sounds quite far fetched.
     
    #30     Nov 10, 2010