Could maybe someone who is successful and trades full time for a living record a typical day of trading to share? Im sick of the 20 something gurus on youtube and would love to see a pro at work. @Tradex?
Destriero had a fantastic thread in the Journals Section documenting his options trades earlier this year. He is undoubtedly a superb options trader. And while you might not be an options trader, reading that thread will give you a sense of the level of knowledge and competency required to be a consistent trader. And this is not something you’re going to get free off of YouTube, or for $10 per week in a “live” trading room super chat.
Why do you think that is? Is it that with a small account you worry more about the money than you do the trade?
Specialize in something. Taxes on futures trading is more favorable than stocks. With the micro index contracts, you will be fine and can use good risk management. Stay away from stocks for now. Then you can setup an LLC.
If you can program, can exploit time series data, and have an exceptional ECN then go for it. If you’ve got a mouse in your hand and you’re new then good luck with that.
Are you seriously looking for a legit free edge on a public Internet forum? My PM Inbox and my email is full of messages from unfortunate souls who tried manual scalping (day trading). I’ve got a mountain of stories about newbies getting smoked Scalping in these modern Bot dominated markets. It’s astonishing and it’s sad. It’s depressing because some of these guys aren’t burning through $10K - more like $100K. And NO, I will not take on a traumatized soul suffering market PTSD as a client. I will advise that person to put trading behind him and to get back to work and that taking care of his own health and his family should be his only priority. I’m not a therapist and I have a conscience.
Sorry if I offended you. I was simply hoping to observe a master at their work. Kind of like a boxer watchers many of his predecessors fight over and over.
It’s not you - it’s definitely ME. Manually scalping is like opening a restaurant - your odds are about 10 percent. In the Pits, you had about a half second time advantage to pick off paper and that was worthwhile. In the very early days of electronic trading, you had a slight inter market information advantage. At present the automated trading systems are so strong and well designed by very smart players with a serious capital and ECN advantage that you’ve got no chance with a mouse in hand staring at a screen. There are some highly experienced exceptions but the years and the capital it took them to get there is astounding and impressive.