Failures are everywhere in abundance -- even in the so-called safe world of investing If you will partake in anything in life Worthwhile...you have to be prepared and willing to be a casualty in pursuit of that gold dream. This is EliteTrader....not EliteInvestor...it's fairly safe to assume anyone here is pro-risk/reward.
The point is those scammers try to promote day trading in internet (1% return each day and other bs) , in which this surely will benefit the broker, bucket shop, signal vendor, educator, day trading site owner and etc while the only loser is the novice day trader. I can make a comfort life style with 5 % return through investment and proper trading. I am a bit lucky as my past experience in institutional make me fully aware of the trap of so called day trading dream. Btw, thanks for spend the time to write lengthy reply. I have enough experience and instrict to smell those snake oil scammer from far away.
Many positional traders regard day trading as gambling. Irony is in day trading stoploss will function appropriately, whereas in positional trading gaps can defeat the purpose of stoploss. This is a serious set back in risk management, an obvious element of gambling.
Lol, do you really believe Warren Buffet will put a stoploss in his position trading ( at some bs support/resistance level)?