It's fairly safe to say, or assume, the majority of people here are losers. (in trading) -- even one's who seem or appear smart and wise and have a long registered history. Just like in real life....only 1% truly will succeed fruitfully in their field or endeavor, while everyone else fails or just barely treads water. People come and go in this relatively difficult, high risk game.
What do you expect from this kind of thread ? Some new guy come in, claim want to learn DAY TRADE, some BS posters respond (those BS posters claim to be successful traders without any proof) and here you go the story until the end.The new guy eventually give up after paying the broker or spread betting company. As I mentioned before, you will not have any positive expectancy in DAY TRADE AFTER you include the commission and slippage. For those BS posters that claim to be profitable day traders, shame on you regardless you are professional paid posters, failed traders try to regain some ergo here or etc.
It is really a shame in a way that the new guy did not persist. All traders pass through these stages of coming across different types of characters that populate the trading environment. If the newbie has given up, his real motivation for trading was not enough to help him with trading difficulties. At the end of the day, trading journey to destination, is simply about eliminating one mistake at a time.
I repeat again, there is No Edge in day trading after you take into account the commission and slippage. You need strong edges to win in this game but unfortunately those edges are not available to retails traders. It is FAR better for him to give up in early of stage, rather than only come this conclusion AFTER two years of wasting his time and money as seen in the thread Shame to those professional posters that pretend to be successful traders that lurk new traders into this trap, or the fail traders that try to look for self inflated ergo in internet and pretending to be successful traders, fake guru that look for followers for subscription, vendor or educators that know nothing and etc. Shame to those people as they are no different than online gambling ads that promote gambling in trading world.
ALL THESE PUMP AND DUMP MERCHANTS ON FORUMS were pumping Volman's first book on T2W , along with Turveyd JULIA.My belief is VOLMAN was never a trader , but a forum insider on T2W , HE PROBABLY SOLD EDUCATIONAL COURSES FOR $3,000 A SEMINAR , along with help from mods. You can not teach and old dog new tricks and a leopard never loses it's spots , meaning you can't change people. The pump and dump is also a very old trick of trading : https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=pumping and dumping stocks You lot never change , pumping and dumping continues , with Al Volman's. Real traders don't have time for this.They don't hang around posting on lower pretenders , they make money trading , not posting on some subjective illusionary discretionary non trader.You think real traders got time to follow this Volman
It is your BELIEF that daytrading does not work. Unfortunately, I have seen daytraders making it on trading floors. So my beliefs are different. Now, the newbie as far as I can see : * repeated the same mistakes over and over again, and at no moment did he really manage to clear one mistake. That is really why he failed. The vendors , the educators, etc are not the one who create failures. I'd say that if one can use what they offer well, and stick to identifying mistakes and then eliminating mistakes, one can make it. But now, are people really willing to question themselves so as to make it work?
I have made it day trading for a few years, - the problem was sustainability. The burn out and the inevitable prolonged sideways and narrow market conditions kills multi-year winning day traders - go extinct or adapt. So I switched to swing trading and never looked back - this is sustainable, going on 15 years now. Nothing worse than being a day trader with a flay year yet paying your broker $40k in commissions - no thanks, been there done that.