Pick up the stone to your left after hitting you in the head..there may be some blood left ☺ ES
What is up with this site lately? So many negative nellies. You try and encourage people by relating your own experiences of struggle and then success and all they want to do is slam you. IF YOU GUYS DON'T LIKE TRADING, OR DON'T BELIEVE IT'S POSSIBLE, THEN GO FIND A NEW WEBSITE THAT SUITS YOUR NEW GOALS. Simple.
I never said it was not possible to make money out of trading , just agreed with the sentiment on many threads , the odds are stacked against day trading. Swing and position trading is different , there are many profitable strategies , without the usual crap like stops etc.
lol...you gotta earn it...too much denial from the 95%..... ElectricTheRainbowIsJustAroundTheCornerSavant
Yes thats true, this is why I have always believed that its not possible to daytrade and make money in very efficient markets (which will inevitably be infested with bots/HFTs/etc). However this does not mean that every market/instrument is efficient, there will always be loopholes and opportunities, I arb'ed the crap out of such a "loophole" for over 4 years before too many market participants found out about it, but I already made a bundle from it so I am moving on to look for other opportunities in other markets/instruments. Imo betting on direction for any instrument intraday is suicide, no egde will compensate any trader for taking intraday directional risk because the market is random (and more so in the very short run!), the odds of any trader winning is much less than 50% after accounting for trading cost.
It is not about odds. It is about professional abilities to do certain kind of things... And I am very concerned about your words of strategies "without crap like stops"... It is very dangerous to think longer-term trades do not need stops... They probably need them more than day trades do, because you keep them overnight.
number 1 enemy in trading is to overtrade, which leads to take less quality setup and easy to abandon money management. based on my own experience, the biggest winners usually takes about 2 weeks to 3 months. trade less and honor stops ($100 per $5000 trade). Don't move stops, rather focus on getting the entry correct (by reading bid/ask). trading is very simple, I realized it after losing more than 100k and 6 years frustration.
sounds like the post of somebody who lost a lot of money. if trading isn't for you, trading isn't for you, but there's a lot of good opportunities out there and you shouldn't act like day-trading is impossible. trading = zero sum game? day trading = negative sum game? come on man. You're just pissed off because you don't have the discipline to come up with your own system when you were looking for 100% returns.
The odds are only stacked against people who don't have the time and/or the discipline to devote to learning how to trade. Once you learn even a basic approach and can show that you have the discipline to trade it properly, you can then build upon that basic system and have great success. It does take time, and probably more time than most think it will when they enter the trading arena.