Day trading for a living - Almost impossible

Discussion in 'Trading' started by Drawdown Addict, Sep 9, 2024.

  1. MarkBrown

    MarkBrown

    op is just venting they cannot day trade. i would agree almost no one can successfully daytrade over the long haul. but to say it's impossible is just as wrong as wheel critics in the time of sleds.
     
    #131     Dec 17, 2024
  2. The only edge that can exist is through statistics which will manifest itself on the chart. Past price action is the ONLY way to predict future price action...ie low vol is followed by high vol and vica versa, but you see it on the chart first.
    As far as I'm aware, Paul tudor-jones is a practitioner of Elliot wave. The unknown trader is me dummy LOL.
     
    #132     Dec 17, 2024
  3. deaddog

    deaddog

    I knew that. You might as well as signed it the unprofitable unknown trader with a (2008) Lambo.
     
    #133     Dec 17, 2024
  4. Hard to get a (2008) Lambo without profits lol.
     
    #134     Dec 17, 2024
  5. deaddog

    deaddog

    You only need a loan, like you got for your next car.
    I'll be impressed when you pay cash. LOL
     
    #135     Dec 17, 2024
  6. tomkat22

    tomkat22

    He mentioned once in one of his videos he was thinking about becoming a short-seller but he never followed through with that. He primarily trades in a tax-deferred retirement account,long only. In fact I dont think he is even allowed to short in that account. I think he made 4.5 mil in 2021 and is at about 1.8 mil this year so I think that is proof that while it is extremely difficult to make money day trading it is not impossible.
     
    #136     Dec 17, 2024
    Andrew34 likes this.
  7. I didn't finance the (2008) Lambo lol..it would negate all the "piss off I'm better than you" bravado I get driving it around. :)
     
    #137     Dec 17, 2024
  8. Handle123

    Handle123

    I never recommend to anyone to try day trading or scalping, cause 99% can't handle the dedication, the work, controlling one's emotions. I started in 1987 and by mid 1991 got the hang of it, so I thought...then couple more losing years till I was six figures down, seven long years till I was consistent and another several years to get real good at scalping.

    I can now daytrade any market but best is Indexes, the ES cause I can do size. The secret to starting is not to look for huge profits, net $100 and done for session, concentrate of always lowering risk. How fast can you get to Breakeven plus 1 tick protective stop. Only have 2-3 different signals, getting out by end of 3rd bar.

    Small timeframes offer more losses, five minutes are more stable. Study ends of moves, only looking for small retracements couple of times to make goals.

    Learn to trade during evening, 2am cdt and USA morn. Those who are dedicated learn differences.
     
    #138     Dec 17, 2024
    ironchef likes this.
  9. poopy

    poopy


    $100/session?

    Size?

    dafuq, mate?
     
    #139     Dec 17, 2024
  10. MarkBrown

    MarkBrown

    he probably means per contract per session - it's pretty good if you do 100
     
    #140     Dec 17, 2024