Is day trading worth it?

Yes, I do. The trade itself without the context doesn't mean anything. If you don't want to read it, that's your choice.

 

Darn, Helmholtz' post about how real traders know my methods are worthless just disappeared when I went to quote it. The mods are kickin' butt tonight!

Let's see, the trend line breakout pullback method produced four setups in CL during the pit session today (trend lines drawn on 5-min chart, eastern times referenced on 1-min chart for entries; MFE's are favorable price move prior to break of 5-min price bar in opposite direction):

9:25-9:30am MAE = 5; MFE = 16

11:26-11:29am MAE = 0; MFE = 64

12:26-12:33pm MAE = 6; MFE = 25

1:43-1:48pm MAE = 4; MFE = 26

10-tick scalpers captured $400/contract

15-tick scalpers captured $600/contract

20-tick scalpers captured $600/contract

 

By NoD's performance? I certainly am.

 

I hope the mods are not into silencing critical voices.
It looks like April fool month is a generous month :
someone I know has quadrupled a six fig. trading account in
few days and is now taking the year off.
I guess daytrading is worth it in this type of situations.

 

Thanks for sharing, NoDoji.

So your price action method consists of drawing a trendline break in the 5 minute chart, followed by a pullback entry on the 1 minute chart.

This enables you to have at least 4-6 trading opportunities every single day, the vast majority of which are positive and pocketing anything from 1.6k to 2.4k daily.

Is that pretty much it, in a nutshell?

 

15 tick scalpers make the same amount of $$ as 20 tick scalpers?

This is surreal.

 

Depending on market volatility this may happen.

 

can you explain how a 20 tick scalp pays the same as a 15 tick scalp? Remember, I am talking about real markets in real time-- not descriptive chart art where anything happens. thanks!

 

I witnessed cases regularly when lower, MFE based profit target makes more sense. For example we take a sample of 10 profitable trades: all of them went at least 15 ticks ITM, but only 8 of them went 20 ticks ITM. In this case 20 ticks profit target is still favorable.

But what if only 7 out of 10 trades went ITM by 20 ticks? 15 ticks profit target now looks better.

That's how it usually works with stats applied to one's trades.

 

For the love of god, Noobs!!! PLEASE don't follow these charlatans who blind your eyes via rhetoric, chart art, and ridiculous success claims. Their ways will lead to the destruction of your account. If you like this game, trade the TST combine and/or join a prop firm OR be mentored by someone who is a proven entity in the business if you are fortunate to find such a person. This way you can prove to yourself what works in real conditions with parameters-- far better than following dubious aliases. It is crystal clear to those who really trade that the way these folks describe what they do simply does not work with the accuracy claimed if profitable at all. Please take this advice, your account will thank you!