Trader CIS one of the best operators in the world says ... The secret is buying shares that are being bought and selling shares that are being sold. Now I understand it all. I think that from now on I will be a better intraday trader. Thank you all, really
There is no real proof about the 99.99%. It is just one of the typical "oneliners" that is used. Used by people who, or never daytraded, or never where successful in it. Ask any loser in any dicipline if he believes in that discipline; the answer will always be NO. While the correct answer would be: "For me it is impossible. " Only the happy few make money, it is the aim to be part of that small group. On top of that it essential to try, if you don't try it is 100% sure you will never succeed. Not all businessmen become rich or even billionaire. So it is useless to try to become one? Ask Gates, Zuckerberg, Siegel, Bezos, Dell... if they agree it is impossible to become a billionaire. I know that tossing a coin, putting a stop at the high/low of first hour and set exit on close will never beat my trading. All the rest doesn't matter to me. Statistics are only a valid indication of probabilities based on lots of data and can never be used to be implemented just on 1 person. Even if 99% lose money, my chances based on let's say 1000 trades can show that my chances are much higher. Only my chances, the stats of my system, are relevant to me. A system that does give 99.99% certainty that you will win, can end up in a loss. Even if 99.99% will win you can still lose. Only the probability is in favor of winning, but that has no value if you are one of the losers.
I’m kicking around the idea of starting a real money journal around random entries... now, I don’t know that I can do it (never tried), but As of right now, I think it’s possible to do profitably.. I’m still thinking on it. I’ve been meaning to give lightspeed a try, along with a fucking competent platform.
Sweiz: I know that the long term can be very productive, it is also less stressful. The truth, if I had a lot of money I would not worry about the short term. I really believe that intraday is for the poor. However, if you do not have much money, you can allocate 80% of the account to the medium-long term, and the remaining 20% can be dedicated intraday to earn a living as an intraday merchant.
Poor people who place 20% in daytrading will end up 20% poorer. The best decision would be to invest that 20% in yourself.
The employer puts a limit In the daytrading the limit you put it on. You are against yourself, that is the beauty of trading.
As for the secrets of day trading. IMHO there is not much difference between the trading and the day trading. Both required the working method and the able trader.