crg wants to say that shorter frame you go, exponentially more you have to work and facing lower win rate and becomes harder to do size. See how many ripples in market on a tick basis. One per active trader, to kick/scare him out. Nope, not random at all ! As random as your thinking whats gonna happen next And "size" that arouses market can be shockingly low, I am afraid. Especially if one has 'invisible' followers, due to recent success.
DAYTRADING IS A LOSERS GAME broker fail rate is 95%. Brokers dont want you to know. Fact is profitable daytrading is a pipedream. Saying daytrading is something you can do atfter a lot of hard work and then you will "get it" is stupid. Same can be said of lottery winners. OMG buy lottery tickets, because people have actually won the lottery! I know a guy who made 50 million from buying lottery tickets, you should too! ANYBODY who thinks logically understand lottery has negative expectancy, and anybody who has daytraded for a year or so, knows it too. Daytrading also has negative expectancy. If daytrading makes money, why is it 95%+ lose? Maybe daytrading is nothing but wealth transfer from 95% to 4% b-e en 1% winning, just like how in lottery you have 100 million suckers who pay $1, and 1 winner making $50 million, and the lottery owners (brokers/exchanges) making another 50 million?
ALso somewhere in this thread somebody made $100k from 10k. Why can't he make 1 mill from 100k? 10 mill from 1 mill? 100 mill from 10 mill? 1 bill from 10 mill? 5 years to make him a billionaire? Clearly, this guy was majorly overleveraged. Don't fall for the scam, for every person who turns $10k into $100k, there are 19 people who turn $10k into $0k. Just like in the lottery. Daytraders are deluding themselves. A self-employed person has people having a need for their services. A daytraders doesn't provide a service, except the vauge statement "liquidity". You all know it, daytrading is a dream, and also egotistical as you don't provide a service at all, guess what, you're "skills" aren't needed!
paying your bills is all the service you have to do for yourself in life. this providing a service and doing good for the world is just a bunch of bullshit. the government doesnt care what you do as long as you keep paying your quarterly payments. they dont care if you are a doctor, scientist, or a welder.
From my experience having an account with a cheap broker makes makes you to trade frequently .More you you trade , more likely you lose it all. Its like a coin flip.
Firstly , there are some incredibly unhappy people on this site. My advice to any Newbie would be to stop reading this site and go back to the screen. Turn off all your indicators and watch price. Watch the intraday waves from open to close day in day out . You will see a pattern , if you trade only this pattern and nothing else you will make money . It is this repitition of action that will skew the odds in your favour .
Didn't see this paper referenced anywhere in the thread. Seems like the failure rate for traders has been overstated, although I do find the result that those who trade the least and those who trade the most were the most profitable to be interesting. Seems like there is something to learn in those facts. Either do a few things very well or scale up a methodology and make a ton of trades with each making a small gain. http://www.nuff.ox.ac.uk/users/murphya/Active Traders.pdf Original link was here: http://www.cxoadvisory.com/individual-investing/the-odds-of-winning-as-an-active-trader/
i disagree... personally i know a few successful traders... but i do not know any popular actors or pop stars... and yes, i live in california