The market calls the first move ,the day trader pays spread + latency of signals to enter ,when he enters the market reverses , just another price to pay.
Just expose yourself to the market ,and let it hit you left right and centre . Those sudden lightning moves by the 5 % who move the markets ,and poor day gambler loses his shirt in strip poker.
Just a point, from our perspective. We don't pay the "spread" very often, preferring to park our orders to get paid for providing liquidity. If we do pay the spread, then we use the proper ECN, again to get paid for taking liquidity. Latency is not a major concern unless you're stuck in a HFT led security. As far as market reversing - we certainly hope so, since we are normally "fading" the movements. That's how day traders and MM's make money. Sold GE at 19.36 today, and bought it at 19.05 - near top, near bottom. But had a dozen other trades in between. Sure, could have gone for a longer time-frame, but I prefer to take more smaller profits to avoid the risk. FWIW, Don
LMAO You are such a bozo its somewhat comical. I wonder what else you enjoy ranting about. You quite clearly have failed in a spectacular fashion with day trading over a period of time. Whatever else that doesn't work in your life, start with the question "well maybe I'm wrong, and maybe my ego is taking up too much space" cheers
use limit orders and spread cost is gone (almost). the biggest issue with daytrading vs longer timeframe I see is that daytading consumes large amounts of time and bet sizes are limited. Hearing another daytrader size after 10 years of 100+ pct and high winning rate is like 1k or so. that sucks. aftert 30 well measured swing wins, your bet size can easily be 100K+ And you can do it over the phone and waste 1 hr per day.
Mate cut the crap! I can only guess you are some freak or rebate merchant or pretender .Maybe you were hired to discredit truth and negativity so some commercial sellers/rebate merchants would get more business with positive noob suckers.
I know that I am a moderator and I realize that Bright Trading is a sponsor, so you probably do not believe me. Do you think I would be considering to fly out to Las Vegas to take the three-day workshop from Bright Trading this October if this thread title was true? I don't think so. Don has told me that this year is better than other years at Bright Trading...so I believe him and this is possible to not only make a living but a better living. I am serious... ES P.S. It would be nice to hear from some Bright traders that are trading the opens with the alerts from the Bright Trading software. Even though I could buy a house for 200k that was originally 600k in the Las Vegas suburbs...I still need to know if one can trade the opens remotley with the alert software? I just want to make about 200 extra bucks per month in my first year, while I keep my day job. I got to get out of the Forex trap that I am in...They will never let me make money. PM me if you must..perhaps Bright Trading does not allow their traders to post internal information publically. I hope to see you at the workshop...not Maverick...hehe...just kidding. A lot of you know that I am a trader for life and am devoted...I have the passion...I just do not have high expectations and I need some trading friends to support me.
I'll do you one better, but you have to promise me total privacy for what I show you. Call me next week, Mr. ES. I'll give you actual GS accounting sheets, without names of course. Don PS, you meant $200 per day, not month, of course.
No Sir...I meant 200 per month...Please do not lie to me. (I mean in year one, $200.00 per month in my hand after labor and expenses. not $200.00 in loss..that is working from 4:30 AM to 8:00 AM Vegas time with small start capital) Yes I count everything as I consider trading a business, just as I once considered Blackjack as a business. ES