Day Trading is a pipedream.

olliescigar · Mar 21, 2010

Quote from FattBurger:

Trading Futures is a business. To my mind, it is the best business in the world - for a great many reasons! It has a very high profit potential against a very low overhead. Risk can be tremendously reduced by taking only high probability trades. In fact, futures trading is a relatively low-risk business when approached with the right attitude and the right planning.
There are no employee problems other than myself. No unions to contend with, no negotiations, no strikes. No employee benefit plans other than what I give to myself. No employees stealing from me. No collective bargaining, and no stockholders.
There are no merchandising costs, no damaged goods, no vandalism, no service calls, no repairs to make, and no guarantees to honor.
âI donât have to advertise, and I have no marketing headaches. There is almost always a buyer if I want to sell, and almost always a seller if I want to buy. No purchasing and procurement problems, and no salesmen making mistakes.
âThere are no manufacturing problems, no production schedules to meet, no shipping, no receiving, no product liability, and no insurance policies to carry.
âI donât have storage problems either. No warehouse, no spoilage, no items to discontinue or mark down. No bills of lading, no freight or freight damage, no trucks to load or to unload.
âIâm free of invoicing, accounts payable, payroll, inventories, accounts receivable, billing, dunning, bad checks, and bad debts.
âNow I ask myself, âSelf, where else can you find a business like this?â The answer is an overwhelming âNowhereâ! Itâs the most perfect business in the world!!â
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sounds like a true promotor, be very careful and afraid!!\\

http://faculty.haas.berkeley.edu/odean/

bat1 · Mar 21, 2010

So you failed,

and now you think everyone else is a failure

olliescigar · Mar 21, 2010

Quote from bat1:

So you failed,

and now you think everyone else is a failure
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DId you read the papers? Not all fail.

No, I prefer to refer to science and proper steps to make decisions, not faith.

sorry!

failed_trad3r · Mar 21, 2010

Quote from FattBurger:

Trading Futures is a business. To my mind, it is the best business in the world - for a great many reasons! It has a very high profit potential against a very low overhead. Risk can be tremendously reduced by taking only high probability trades. In fact, futures trading is a relatively low-risk business when approached with the right attitude and the right planning.
There are no employee problems other than myself. No unions to contend with, no negotiations, no strikes. No employee benefit plans other than what I give to myself. No employees stealing from me. No collective bargaining, and no stockholders.
There are no merchandising costs, no damaged goods, no vandalism, no service calls, no repairs to make, and no guarantees to honor.
âI donât have to advertise, and I have no marketing headaches. There is almost always a buyer if I want to sell, and almost always a seller if I want to buy. No purchasing and procurement problems, and no salesmen making mistakes.
âThere are no manufacturing problems, no production schedules to meet, no shipping, no receiving, no product liability, and no insurance policies to carry.
âI donât have storage problems either. No warehouse, no spoilage, no items to discontinue or mark down. No bills of lading, no freight or freight damage, no trucks to load or to unload.
âIâm free of invoicing, accounts payable, payroll, inventories, accounts receivable, billing, dunning, bad checks, and bad debts.
âNow I ask myself, âSelf, where else can you find a business like this??The answer is an overwhelming âNowhere? Itâs the most perfect business in the world!!?
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LOL

a market with 99% fail rate is not a perfect type of business. Just like MLM, where the top 1% make the money, is not a perfect type of business.

Get real.

olliescigar · Mar 21, 2010

Quote from failed_trad3r:

LOL

a market with 99% fail rate is not a perfect type of business. Just like MLM, where the top 1% make the money, is not a perfect type of business.

Get real.
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hahaha, good point! he is obciously selling a book or something

OR

he took the bait, hook line and sinker!!

olliescigar · Mar 21, 2010

Quote from austinp:

speaking of "there must be a reason"...

what motivates you or any failed (aka quitter) trader to invest precious time (on a Saturday, no less) telling complete strangers on an anonymous message board that the topic of interest to them is impossible.

In other words, what do you personally get for stating that trading is impossible on a trading forum? What's the emotional payoff for you? You cannot trade, no big deal. Lots of others can't cut it, either. But what do you personally get out of being here any more at all?
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ahhh, boredom?

rcaldwell · Mar 21, 2010

Quote from failed_trad3r:

LOL

a market with 99% fail rate is not a perfect type of business. Just like MLM, where the top 1% make the money, is not a perfect type of business.

Get real.
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Most are not dedicated enough to stick with it.

failed_trad3r · Mar 21, 2010

Quote from rcaldwell:

Most are not dedicated enough to stick with it.
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Agreed. If you look at who post at ET, alot of people have left since 2008. I think alot of newbies burned through their money and gave up in 2009. This is a ruthless market.

Mercor · Mar 21, 2010

Quote from guy990opl:

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.
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Not sure why you believe a cycle of the Moon will help your positions?

Mercor · Mar 21, 2010

Quote from FattBurger:

Trading Futures is a business. To my mind, it is the best business in the world - for a great many reasons! It has a very high profit potential against a very low overhead. Risk can be tremendously reduced by taking only high probability trades. In fact, futures trading is a relatively low-risk business when approached with the right attitude and the right planning.
There are no employee problems other than myself. No unions to contend with, no negotiations, no strikes. No employee benefit plans other than what I give to myself. No employees stealing from me. No collective bargaining, and no stockholders.
There are no merchandising costs, no damaged goods, no vandalism, no service calls, no repairs to make, and no guarantees to honor.
âI donât have to advertise, and I have no marketing headaches. There is almost always a buyer if I want to sell, and almost always a seller if I want to buy. No purchasing and procurement problems, and no salesmen making mistakes.
âThere are no manufacturing problems, no production schedules to meet, no shipping, no receiving, no product liability, and no insurance policies to carry.
âI donât have storage problems either. No warehouse, no spoilage, no items to discontinue or mark down. No bills of lading, no freight or freight damage, no trucks to load or to unload.
âIâm free of invoicing, accounts payable, payroll, inventories, accounts receivable, billing, dunning, bad checks, and bad debts.
âNow I ask myself, âSelf, where else can you find a business like this?â The answer is an overwhelming âNowhereâ! Itâs the most perfect business in the world!!â
More...

This should be posted on every traders wall. When ever you fail in discipline remind yourself the advantage of getting it right.

I would also add no Fica, no income tax, futures traders only pay a net 25% in Federal taxes.
In a small business less then half make money and many go broke.