Daytrading drawbacks

Discussion in 'Prop Firms' started by MondoTrader, Feb 12, 2003.

  1. "If your average trader was qualified in another field and if this wasn't so addictive the trading rooms would be pretty empty"

    you have hit on a major issue, which is opportunity cost.
    If you are earning McD's pay daytrading, or nothing, then clearly you have to question your business model no matter how addicting it is.

    Actually, I have been reading about the people that "play the open", and I see no reason why somebody like that couldn't do their trading in about 20 minutes and then go off to a regular job, providing that the hours are convenient ( tough on the east coast if you work 9-5 ). Or you could trade futures on Globex after you get home from work. Either way you will almost certainly make more money in total and your family might not think you are crazy anymore.
     
    #51     Mar 3, 2003
  2. Sure, Ill agree that daytrading is a drag if you're dumb enough to keep trading from the long side. I mean wake up people. This market sucks and its going down; so get short. The markets sets up so beautifully from a short perspective.

    When the market rallies and CNBC guests begin to gloat, just look for a place to get short, keep a tight stop and go for the ride. When the market drops (like it has for the past three years) just go along.

    Daytraders who are short sellers are cleaning up !

    Why do so many people keep fighting the trend ?
     
    #52     Mar 4, 2003