If you are a day trader with a persistent edge, are you a millionaire yet?

Are you joking?

 

"Do you know enough about econ to make that claim lol? Also, not sure if you understood what I said."

Same for you on daytrading.

 

Do you really think he's gonna give up (one of) his edges to you?

 

So what’s your edge and why aren’t you a millionaire from your day trades then?

 

The economists who stray into finance end up:

Successful, staying and not sharing,

or
Returning home, hat in hand.

Guess which ones write the economics textbooks you clearly adore?

 

I also saw someone says , don't daytrade, don't trade forex, and don't use leverage.
I means it could be human nature to disbelieve something he himself could not find or could not do.
Is that a correct logic?
If I could not find something, it doesn't exist.
If I could not do something, everyone else can not do it.

So if I can not win a chess championship, nobody in this world can win it.

 

How do you know I am not a millionaire?
There is no logic on your words.

 

The reality is that he does not have an edge. Unless he’s an HFT sniffing orders or just trading momentum, I can almost guarantee that his cumulative pnl is negative and that his win loss ratio is low. And even if he was profitable, the likelihood of him beating a beta version of the strategy is slim (underperform vs benchmark). This is the sad truth about day trading using charts and limited data. You are not sufficiently informed to make a decision.

 

I didn’t say you can’t trade with leverage, or fx, or can’t be profitable day trading. What I’m saying is that you can’t be profitable as a day trader by just looking at charts. In fact, looking at price should come later in your decision making process.

 

I have posted 3 daytrading strategies with their winning record.
One can not wake a person pretending to be asleep.