Is day trading worth it?

Discussion in 'Professional Trading' started by Laissez Faire, Jun 18, 2013.

  1. The simplest way to demonstrate skilled tennis playing is to play a game. The best way to demonstrate skilled trading is to put on a trade. Anything else is just ballshit.

    There is still no explanation why putting up a trade that has already been entered into the market would affect the trade's performance. That's the excuse given for not showing a trade. Unfortunately, this is going to get the claimant killed on the argument. So, let's see some squirming, before keeling over.
     
    #1461     Dec 16, 2014
    Aj2014 likes this.
  2. Well I'm gonna bite and answer this.
    Due to the fact that i feel I owe the community here for helping me along the path, albeit with
    a lot of misinformation and trolling but hey i guess that's the beauty of ET.


    Lets take the NQ for example.

    The average bid size on each tick during normal liquid hours is about 30 - 50 contracts (last time i check, I don't trade this frequently).


    ____|_28___
    ____|_30___
    _31_|______
    _28_|______



    Say you have an intraday strategy that averages.

    Average win : 6 ticks
    Average loss : 4 ticks

    With a 55% win rate

    So you're average ticks per trade comes down to : 1.5 ticks

    So what's the strategy max capacity ? probably around the average size of the bid of one tick
    which is 30, anymore than that and you'll get slippage that will eat away your profits.

    There's probably hundreds of intraday strategies that will work on NQ, but for this specific strategy
    it is constrained by the above. hence why retail daytraders seldom share their secret sauce.

    now try to imagine what happens when you day trade the more exotic least liquid markets.
    since you have a love of cattle try and see the average offer size on LE.
     
    #1462     Dec 16, 2014
    d08 likes this.
  3. Since people in this thread doesn't know how to show a trade (my guess is they don't know how to trade, or they know they will lose), let me demonstrate how it's done:

    [​IMG]
     
    #1463     Dec 16, 2014
  4. Thanks for the explanation, and offering of the secret sauce. Regrettably I can't be bother to give it more than a glance. So precisely what you are saying, I wouldn't have gotten it. The issue isn't whether there are constraints in the market. The issue is why is the constraint being used as a reason for not being able to state a trade that's already in the market ? If the trade is in, who cares if there is a constraint ? Further, how does people knowing a trade that's already in the market affect the trade's performance ? This is another stated fear for not revealing a trade.
     
    Last edited: Dec 16, 2014
    #1464     Dec 16, 2014
  5. broadcasting the entry after the fact won't hurt, but if everybody knows the signal before the entry
    you wouldn't be able to get in at a good price.

    Your previous post were stating that the market is too big to be constrained by a retail punter.
    I just showed you otherwise how it could be depending on the strategy used.
     
    #1465     Dec 16, 2014
  6. d08

    d08

    Prop shops give leverage and information tools, they don't teach edges. He developed his stuff pretty much alone as I remember him saying.
    My account size varies as I'm using the resources for other things besides trading, it's always 6 figures though, what does that have to do with earning a good living from trading though?
    Why would I or anyone else waste my time making YouTube videos? I for one had a nice holiday on a paradise island, beats making YouTube videos if you ask me.

    Tennis players make their income from showing off their skill, traders DO NOT. Tennis players wouldn't make a cent without an audience, traders edge will actually diminish with an audience. Your analogy makes absolutely no sense.
     
    #1466     Dec 16, 2014
  7. The "successful" traders don't even dare broadcast after the fact. Often I offer them the choice of waiting until the trade is in profit before stating it. Still they would not be confident of success.

    I don't know there is a constraint or not, but I am happy to take your word for it. But anyone who feels constrained, I will be happy to introduce you to my bucketshop. The shop is extremely confident of winning and will be able to take any size bet you care to carry. If the constraint is you want a particular price and you want it now, well that's not how the market maker works. Live with it or go do something else.
     
    #1467     Dec 16, 2014


  8. The funny thing is I didn't ask you. But I will be happy to accept you can talk more about holidays than trading. You don't know anything about trading, it would be silly for you to talk about it.
     
    #1468     Dec 16, 2014
  9. d08

    d08

    Says the man for whom red arrows on charts act as proof of skill.
    Also, anyone who ever traded properly in their lives would understand the liquidity constraints and the example AdrianHagh81 was fairly understandable for anyone with an IQ above 90.

    Smart enough people (not you) can and will reverse engineer a strategy based on a few examples, this results in added competition meaning I will have to share the pie with someone else effectively reducing my share to 50% from 100%. With enough people doing it there won't be any more pie for me. Clear enough for you?
     
    #1469     Dec 16, 2014
  10. Indeed, I can reverse engineer a strat. But since you don't have one, I would be wasting my time.
     
    #1470     Dec 16, 2014