Just wanted to write that, in case anyone has any doubts. Never met a day trader who can make money consistently...there must be a reason.
I once had a great daytrading strategy. I could scalp a stock as much as 100 round turns a day and make money.
You are making my point, you had a great strategy once...making money consistently it's another story.
There is a reason, most hobby and demo traders (like 99% of ETers), try to take on a dynamic entity with static methods and reasoning, no real experience and no real funds. The game is over before it even began.
There is alot of truth here. Daytrading can be profitable, but the idea of "consistency" is a matter of interpretation. It's anything but a smooth ride.
Heh if you are using ET as your main ruler I'm sure it looks that way. How many fruitcakes here betting against strong trends, calling tops in furious uptrends, constantly adding to losers, predicting things like earning reports, the level of skill is just a notch above -1 lol
ET is a small reflection of reality, not sure why you think that day traders in the real world have a better performance than the day traders here. They all do the same things you talk about...try to catch tops, bottoms, have a big ego, no plan, believe that they can predict where the market goes in the next 30 seconds etc etc
and let's not forget...turn $5000 in $50.000 quit their job to trade from home ( or the beach )...it's a pipedream.
Well ive been part of a few prop firms and never saw so many morons at once like in ET. Truly the Special Olympics gathering of traders.