True. False. If apples to apples trade size, and strategy executions, True. Otherwise, apples to oranges and a big maybe. Contradiction. Those on top of the mountain didn't fall there! Dependent more so on the particular instrument, than the total amount to be deployed. If you are talking 10's of millions and magnitudes thereof, than this entire conversation is off topic.
I don't see how macro stuff prevents daytraders from being profitable. I think the main reasons are: 1) they don't have an edge 2) if they do it's not big enough to beat transaction costs 3) daytrading attracts idiots which is related to #1
Most daytraders in the open outcry (when it was a thing) and prop firms are losers too! The winners in daytrading are the Citadels of the world where they have teams of Ranjeet PhDs working for them.
Except HFTs. You should these fuckers equity curves. Barely a losing day in a year. But you need be something like Citadel and an army of Ranjeets.
Those who know nothing about day trading hurry to come out to make conclusion on daytrading.I used to daytrade 4 instruments at same time. Now I daytrade 2 and at same time read novels.How much daytrading makes?None of you guys dare to dream.
Using a limited sample survey of new retail day traders in Brazil (who do not make up a representative sample of all daytraders to begin with) to determine day trading is impossible. I said this several times. the study hypes how detailed it looked at the data but every study falls under the garbage in/garbage out model. Does not matter how closely you look at the data, if your conclusion is arbitrary and based on limited subsets then any general conclusion reached on the entire population is flawed.
1. Almost every study is limited sample. And it's a nice, big, statistically significant sample here. 2. You have a point about retail vs non-retail but do you think Citadel will let researchers study their shit? If you want you can change the conclusion to "retail daytrading impossible". That's fine. 3. It's not impossible according to the study. 3% won but meager amounts. Impossible is the word used by those discussing the study to make sound more entertaining.
I mean it's a well known fact day trading as your only source of income is one of the more difficult things to accomplish consistently year over year, but it's also clearly and objectively not impossible... so there's zero value in this study, unless you're looking for entertainment.