Good point! Another one - trading is almost the only occupation where all you have to do is be right (on aggregate) and then implement your opinion to make money. There are countless jobs where you can be 100% right, tell everyone - and either they don't listen, or even worse you get fired. A year or two later when reality proves you are right, you don't get a bonus and probably won't even get your job back. Trading is the only field where even if everyone in the world thinks you are wrong, being factually right is guaranteed to make you money.
Any kind of trading CAN be profitable. I made 41% last month daytrading and didn't trade 4 of the days. I had 1 losing day so it was a low stress way of trading for me. Most like the home runs and I take my hat off to them. I'm for consistant money.
The trading system that I am using and refining is based on fractals. I believe that the markets are chaotic but patterns do emerge from this chaos. I only use fractal time frames (tick, range and volume). to stay on topic, day traders do make money, the trick is to be consistent. have a look at TIMMAYS blog, he finally cracked $25,000 (from about $12,000 starting last november) . The key is consistency.
I beg to differ. Being factually right and making a profitable trade are two separate animals. It's all about timing and execution.
Disagree. This is a myth. Which trades will be the winners is unknown. If someone takes half the trades, it is unlikely that the longterm equity curve will be much different. And if a system is dependently on ONE big winner for its profit {a hoped for grand slam amongst many losses}, it is a useless system.
>>Quote from Alexis: To make sure you won't miss a "good one", you have to take them all. Absolutely all of them.>> I disagree. This is a sure route to broker enrichment and personal bankruptcy. It is far more profitable, not to mention easier on the heart, to design a system that produces few higher-probability moves than many average-probability moves.
Quote from goldenarm: I beg to differ. Being factually right and making a profitable trade are two separate animals. It's all about timing and execution. Of course you need to be factually correct in order to make a profitable trade. The fact is, that the facts are revealed after the trade is concluded and they confirm both direction and stops. If you are struggling with the sheer simplicity of this statement, then test it. Tell me if you agree with this statement ....... "The price rose and I made money from my short trade." Either this statement is factually correct or it is not regards f9