Day trading can be profitable , but not using trend trading ,technical indicators , prediction method or some price action. If any of the above are used , they have to be used very selectively as there will be a load of false signals and noise to bet on. Alternatives are HFT or some other non chart based approach .
Do you actually read what you write before posting? Second paragraph a complete contradiction to the first.
Of course , what I meant you have to be very selective when using any of the above indicators ,trends (80 % of trends on 1 minute charts fail ) , even p/a set ups fare similarly. Take a look at this chart with 9 indicators , only one out of 3 trends materialised although the indicator signals ,p/a and trend set ups were the same for all three. It can be profitable , but you have to be very selective in picking the right signals.
I am not here to determine whether one style or another is a "loser's game" This is my 2 cents: what turns any style to a "loser's game" is the one trade that "kills". You develop a methodology, you refine it and trade it for a long time. One day it does not go your way, and you make all the mistakes you have done before you even picked up your first book of trading. These trades are account killers. They happen to all traders, and what takes over is complete mysticism. This is when most of us come up with all kinds of conclusions about trading, whether day trading works or not, etc. I had once a bad trade, and it could have ended uglier if it wasn't for my discipline. BUT, I don't know if it won't happen again. This particular day started a journey of deep thoughts with the theme of "you don't know anything, and not even yourself". In the event that I lose my trading capital, I will close my account, come here, share with you that idiotic trade and move on. Until then, I pick up my monthly tick checks. RG
Here is another reason why day trading is difficult It is the inability to predict the order flow , and trader is betting on unknown outcome.Set ups fizzle out and intraday trends are very short and trends appear where none exist in random illusions , and risk reward ratio is smaller.
ES, what a crock of crap. this is the mentality of the 98% club. the game is the same every day and the bankers only have 3 tricks to play. forex anon. meetings should help you get off the needle. s
There probably has been a real time trading thread on ET but I must have missed it. However there are RT threads on other forums. Quite interesting to see how good the posters really are and why. Perhaps some of you would like to start one, on say the S&P 500 ? Or is it going to be all "hot air" posts bragging etc. ?
Trading is only difficult until you begin to look at the Matrix itself. Not the patterns it creates. Once you can see directly, trading becomes a mundane activity that is profitable. I for one am glad that few can do this, because if everyone could do it, they would definitely start changing laws because no one would any reason to undesirable jobs.
I wish I saw this thread earlier and I would have quit trading and saved me some money. I wished someone told me earlier that day trading is a loser's game.