it is incredibly tough and takes a long time to overcome the learning curve. but it is possible if you do the right things to set yourself up for success. this business HAS to be tough because anything with this amount of reward and the ability to scale can't be easy.
fair point, I never claimed "none" exist, I claimed that you are an absolutely rare breed, rarer than equally successful longer term position traders. Yes it is indeed a tough business (on both sides) and it gets me going when reading of snake oil salesmen who make it sound as if trading can provide the daily bread to even the laziest and dumbest people.
well any business that is this lucrative, you can't be lazy or dumb and expect to succeed. just like in entertainment or athletics or a hedge fund manager.
hi all throughout the thread everyone has talked a lot but no on has posted a statement. I'd like to offer proof that this is indeed possible. I have a statment of a daytrader, an ultra short term scalper who I'm told makes 8 figures trading his own a/c. ITS NOT MY STATEMENT. I wish i could do this. Its an authentic statement. some members will point out 1)Its only for a period of two and a half months. Thats true but the point i'd like to make is that the strategy works, there are dozens of trades and it doesnt depend on market conditions so trending or ranging markets doesnt effect the strategy and besides thats all i could get. 2)The mm is insane. $500 to $650000 Once again true but from what i've heard this statment is in response to a challenge similar to this one its not the normal mm the trader uses but the important point is he IS A DAYTRADER and a very very rich one from what I've been told. I thought better than just continue to argue about what is and what isn't possible its better to post a statement. http://rapidshare.com/files/401902627/Statement1.doc.html?killcode=9824183709483764779
lol, welcome to the shady realms of day trading performance measurement: a) you have some statement but dont know how much the person makes, owning such statement. Did you steal the statement? b) How do you know its authentic? You dont even know the person who generated the trades nor his track record. c) its for a period of 2.5 months? Since when is day trading performance not dependent on market cycles, market dynamics, changes in regulatory and competitive landscape? Are you kidding us or what is your point to toss around with some random trades over a 2.5 months period? d) I bet the leverage and risk is insane, this is about the ONLY point we both can agree on. With such money management the trader sooner or later goes under, something that is guaranteed to the tune of 100%. e) You removed the file, its not even there anymore days after you made your monkey claims. Did you come to your senses and felt you looked a little dumb? Good then....
looks like schizo had nothing to deliver anymore, disappeared into the winds of day trading fantasy land.
a)someone gave me the statement. I don't know if its possible to steal a statment. Is it? b)At first i didnt think it was authentic either but after studying it I found its very much possible. So i mailed it to an FXCM representative at the dialyfx forums who verified it for me. c)Yes its just two and a half months but aftewr studying the statement I found it diesnt depend on market cycles or volatility changes. The sl is just 5-8 pips. As far as i can tell its off the 1min charts, for ultra short term scalping market conditions dont really matter. Kidding you? No not at all, i just uploaded it because its all i have. I'm convinced there are profitable day traders out there. d)i do agree with such aggressive mm a trader would soon go under. I mentioned from what I've been told its not the usual leverage he uses please read my post once again. My post wasn't about leverage and mm. It was about day trading. e)I didn't remove the file, I clicked on the link and just found it does says that but like i said i didn't remove the file, don't know what happened I've uploaded once again. http://rapidshare.com/files/405918191/Statement1.doc I've checked it and it appears to be working, please do have a look and btw don't worry i dont want a free holiday in ur asian country. So please do examine the statement, if you have forextester you can mark the entries on the chart like i did.
In frequent trading, specially daytrading reversing a losing strategy won't be profitable. As traders lose by the bid-ask spread and commission costs. I didn't fail In fact, I made 6 figures profiting from the stock market rebound. There are just NO profitable daytraders in the long run. This is why there are no success stories. Those "I want to keep my profits private" is BS from brokers promoting daytrading to get commissions. I'm no fool Immoral people (churning brokers) can do anything to shut up the truth (that daytrading is unprofitable). I won't post my real name and address, as they can even hire a hitman to shut up the truth Post your statements here, and more important: Post REAL TIME TRADES! When I profited from the stock market rebound, I DO posted real time. REAL TIME TRADES, ANYTHING ELSE IS CHARLATANRY!