Day Trading is a pipedream.

Discussion in 'Psychology' started by guy990opl, Mar 21, 2010.

  1. Most professional daytraders will trade only from the DOM, which is in contrast to the losing traders who draw lines on a chart and use indicators.
     
    #21     Mar 21, 2010
  2. Hey im just trying to help out and give info that should help out im not an expert. We all like trading and we all can learn from each other.
     
    #22     Mar 21, 2010
  3. schizo

    schizo

    Don't be an idiot. I have yet to see a "consistent" investor either. They all screw up as well, except they're pussies to get out of their losing trades since their modus operandi is LOCK-AND-HOLD TO ETERNITY, BABY!

    The real losers are those who refuse to cut their mounting losses, not whether you're a daytrader or a position trader, you silly ass!
     
    #23     Mar 21, 2010
  4. Never said that investing for the long term is better than day trading. Personally I think they are both scams. Still, it is easier to meet people who made money by investing for the long term, than a day trader. If you need to insult to make your point, you have no point.
     
    #24     Mar 21, 2010
  5. there are many daytraders i know including myself are making money.

    However, its not easy becoming a daytrader.
     
    #25     Mar 21, 2010
  6. Nexen

    Nexen

    Not a bad list, its a good disciplinary start I could do without the indicator talk. You might want to suggest 9 to the poor bastards in the ES Journal, lot of people there been shorting the uptrend since the march lows.
     
    #26     Mar 21, 2010
  7. schizo

    schizo

    So sorry if I came across that way but you conveniently forget that the title of this thread wasn't exactly inviting towards daytraders.

    If you find both daytrading and investing as scams, just what the hell is your point? Do you even trade?

    Just what is your definition of "consistent" anyway? Do you even have a barometer to measure whether one is consistently successful?

    Have I misunderstood your otherwise good intentions? If so, reply to the above questions first.
     
    #27     Mar 21, 2010
  8. "You can if you think you can" It just took me 10 years.
     
    #28     Mar 21, 2010
  9. If you approach trading strictly as a business and have the time, the proper risk management in place, along with.... and this is so important the correct attitude, you can make it. Keep your overhead costs low. And please TURN OFF THE NEWS!
     
    #29     Mar 21, 2010
  10. kxvid

    kxvid

    There are so many people attracted to the markets by the lure of easy money. They think they can get rich quick by trading. You can get rich in an accelerated manner by trading, but it will still likely take years of hard work. Trading isn't a get rich quick, those still at this game years later realize it wasn't what they first though it would be. It might take someone with no experience 5 years before they make decent coin at the game. In that time they could've built up a business or rose through the ranks in a career. Ideally, trading is done as a hobby and a personal challenge. Not as a sole source of income or primary means to gain wealth.
     
    #30     Mar 21, 2010