Exactly Mecro. There was a ton of opportunity in both ESI and DNA yesterday. We have quite a few traders in our office over 100K for the year....I am so tired of reading about traders whining. Whine and Whine some more. There are plenty of people making money right now....if you can't do it, you have no one to blame but yourself. Daytrading is not dead, it is just no longer for any monkey off the street. Some people just don't have the feel for the market.....maybe its time to look for a new job if your not making it. Waiting around for the market to start printing money like the late 90s and early 00s is going to kill you.
God I love comments like this. Hey if you don't know anyone doing it, it must be false. LMFAO. I sit next to a guy that is up over 60K the last 6 weeks and he has been trading for about 10 months. In that time, his worst month was still net positive. There are plenty of people making good money right now, and YES they are day trading. 10 sec to maybe 3-5 minute max time frames. I only say this because I can't believe how many people post on this board that think they "know" everything when it is clear they haven't a clue.
Why is it that everyone always has a friend or sits next to some1 making serious $.. whereas they themselves are pikers? --MIKE
Uhm I was being a bit sarcastic, although I did catch a nice moving stock moving that was a hidden gem. While the potential to make serious money in DNA and ESI is there, if you are new to those stocks trading on serious news like that, you are near guaranteed to get ur ass handed to you. I lost some money on DNA and ESI, but I was playing around and just learning. These stocks are nuts and those specialists are complete pieces of shit. Fun though. News trading is still volatile but the lack of news, volume, volatility in the market overall makes it exteremely competitive. Also, the specialists just abuse the shit out of all traders cause it's not like you have other interesting stuff to trade. And all these stories about guys trading for only 10 months and being up 60k for this month, man stop the bullshit please. Come on now, trading is heavily reliant on experience and in times like these, experience is one of the top factors. There is no way I would believe that someone who has traded through the rally from April 2003, is making 60k for this dead month. I know traders that can make and do make those type of numbers and they have been trading for 5 years MINIMUM. They have money in the bank, they trade SIZE, take positions trades or seriously heavy size scalping, they can take huge losses, have strong discipline, patience and have been through dead months like this one. Don't preach this fairy tale crap and fool newbies that they can just come in and start making 60k a month after barely a year of trading.
I am not going to get into some kind of 1st grade pissing contest with you guys. Does not matter to me one way or the other...but just b/c my credibility is being questioned I am going to post a screen shot of todays PNL along with my excel worksheet for my YTD. Trend Fader, if you were referring to me, the reason I said the guy sitting next to me is b/c he is kicking my ass and I am a little pissed about it. But he is not the top dog in our office and I am in the middle of the pack. Take it FWIW, like I said, this BS about day trading being dead...is exactly that, BS.
Here is the excel sheet. And Mecro...I am not BS at all about the guy trading for 10 months. He is an outlier no doubt... Believe me or don't, but there are more than a couple people on this board that know I am being honset.
SDTRADER... You are a breath of fresh air to this industry... This is the first time that I have seen blotters posted on ET... My point is ...see how easy it is to show results..... But look at how many businesses cannot/will not do it???? Congrats in many ways for many reasons to you!!!!!!!!!!!!!!!!!
Only $1200/day...why bother?! Seriously though, nice trading... In the spirit of sharing here's my blotter today: