Just wanted to write that, in case anyone has any doubts. Never met a day trader who can make money consistently...there must be a reason.
And how many plumbers did you meet who can perform brain surgery? Just wanted to write that........ And on a more serious note... How many day traders have you met? and out of those who many were trading more than 5 years?
Day trading is definitely possible and not that difficult. But, you can't day trade like everyone else. You might have to hold for a bit longer or trade 24 hours per day. Whether day trading or not, achieving returns greater then 1:1 is difficult and achieving returns greater then 4:1 consistently is suspect. Yes, day trading is easy provided you don't try to do it like you read in the books. Now having said that, I do think that strict day trading from 9:30 AM to 4:00 PM using tight stops is very tough and something I haven't been able to get to work. But day trading itself is certainly not that difficult per se.. It is just day trading with the dream of making a living or a fortune on a tiny account without taking huge risks is nearly impossible.
There are many in my office alone. A quite a few have gone from nothing to millions within 5-10 years. If you are only asking around a hand full of guys who trade retail accounts in their spare time, then you're looking in the wrong places.
Envy not those few who make it. They have sacrificed their soul (sold their soul to the Devil) and have nothing of value left to themselves other than some digital number in some bank's database. And b/c of the Law of Cause and Effect (which works just like gravity --- it works!), even these will go bankrupt just like Jesse Livermore, Nicolas Darvas, and countless other "millioniare" traders. So, in the end, the few who make it will have lost everything (their soul and superfluous fortune altogether). Run fast away from trading while you still have some of your soul left. "For what will it profit a man if he gains the whole world and forfeits his soul?" (The Bible)
It takes hard work and solid discipline, not to mention starting capital after you obtain the first two. I know many, the odds are definitely against you though. Crazy A
And, I thought he was from Space Incorporated. dratz.. Envy not those few who make it. They have sacrificed their soul (sold their soul to the Devil) and have nothing of value left to themselves other than some digital number in some bank's database.
When you trade 1 federal reserve note for a snickers bar who is getting the shitty side of that trade? Which party in that transaction loves the devil?
Looks like the original thread was closed without any good reason. http://www.elitetrader.com/vb/showthread.php?s=&threadid=194342