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The brutal truth of day trading

  • #901
  • May 22, 2021 8:54pm May 22, 2021 8:54pm
Quoting RickM
{quote} Hi ccrkk I lose a couple of 90% high probability win trades every night when I shouldn’t. Every time we enter a trade on to the live market, it’s a gamble. No trade is ever guaranteed a win payout, however if you buy a US stock index ten years ago or any time in the past, you would never lose once in history (provided you hold at least ten years). Leverage is the problem, I believe any leveraged market product is a gamble. Saying that, as I place on average 50+ trades during the London session, I do manage to grind out a daily profit with...
I'd say if you have enough data points and reach a 90% win probability that it's more on the investing side instead of gambling. Sounds like you're a pretty active day trader/scalper so I'm sure you have thousands of entries/exits to build an extensive journal of trades to justify a true win %. For example, I don't believe casinos are gambling at all. To me that's investing despite only having a 50.3% chance of winning a random hand of blackjack in some states.
  • #902
  • May 22, 2021 9:11pm May 22, 2021 9:11pm
For me life is a wonderful teacher. People with just an opinion get slammed from pillar to post each and every time then cry about it and try to find someone or something to blame for their own irresponsibility.

For people who have thought a challenge might settle things here. You lost before it began. At the end of the day, "good guys" are not always the good guy. And "bad guys" are not always the bad guy.

GEfx etc, you want a fist fight but I always carry a Bowie knife and a pistol into a fight. It's the same with these other people here. Out from behind the keyboard, I've used a cricket bat, Bowie and a pistol to do my hunting... as in .... REAL life hunting. Not this crap with video games and "trading platforms". My only goal here is to pull the curtain away to show the victim mentality of the so-called "knowledgeable traders". I don't care if I hurt your "feelings" as I have no intention of putting a daisy in you hair while you try and spit in my face.

All someone needs, to understand what I have shown re: trading etc, is to use a little common sense minus the opinion. Simple. If you really truly find that difficult then you are screwed six ways from Sunday and truthfully deserve to go in circles with this social media rubbish.

Life presents lessons. That's it. And so depending on how mentally emotionally screwed up you are as a human, will depend on the "flavor" you give to that lesson. This has always been known and understood. And so in light of this, I pity the children of anyone here. For "adults" cannot teach what they do not know themselves can they. The activity of trading and the world that envelopes it, is a remarkable teacher of how one learns or doesn't learn.

Communication is a two way street. Sorry jimmyboy but what you said is absurd. If people don't want to be conned then learn how to use your brain and observation skills instead of your mouth.

As for RIckM, a scab is a scab. That's the name we used to give to the scalpers. See, nothing personal. And yes indeed I know lots of very real, really good trade setups. So don't you lose any sleep over that O-K.

So while YOU might think I am just talking shit, TAKE A GOOD HARD LOOK WHERE YOU ARE. And take a good hard look at what you're defending. Layer of bullshit after another layer of bullshit. Story on top of story. Only someone with a good memory and good mind and real life experience can see it and call you on it.

There's not much to say after this. If you're soft you'll get conned by these clowns who are scabs or intellectuals who can't speak of things they have never experienced or even heard of before.

There's probably only 4-5 people I have seen on here (FF) who genuinely have something real to offer. REAL ... not money money money !!! But real life plug in.

Small minds, or people who really don't use common sense, are impressed with the superficial. I personally have no reason to lie or exaggerate. I don't know about other people you've had problems with but then, with a little common sense all these things wouldn't need to be aired would they.

Mmmm, just give you money to charity, it's better served. If you won't face the lessons that are required of you because "I don't like how he's talking to me", then ..... Holy smoke !!!! You're seriously in for one BIG shock about real life.

So for the record, only someone who thinks so little of themself, can only see "belittling" ..... berating etc. A small mind feeling vulnerable.

Let's all be happy-chappies Okidoki. Hehehehehe.

Peter
Real Trading is not gambling.
  • #903
  • May 22, 2021 9:39pm May 22, 2021 9:39pm
Quoting joyny
{quote} It's like gold rush in Klondike. Everybody try to find some gold. Few finds. All the rest loose money and then gradually lose hope. And then in Klondike was various services which earned a lot money from all avanturists: transportation, gold digging tools sellers, alchachol sellers, food sellers, entertainment sellers. Then was circulated maps with glues where to find gold. Then there was gold mining communities which tried to find gold together. Then there was criminals who faked naive people in various ways. All this because gold rush...
Where do you figure in all this?
Practice makes a person perfect
  • #904
  • May 22, 2021 9:47pm May 22, 2021 9:47pm
Quoting RickM
{quote} Hi ccrkk I lose a couple of 90% high probability win trades every night when I shouldn’t. Every time we enter a trade on to the live market, it’s a gamble. No trade is ever guaranteed a win payout, however if you buy a US stock index ten years ago or any time in the past, you would never lose once in history (provided you hold at least ten years). Leverage is the problem, I believe any leveraged market product is a gamble. Saying that, as I place on average 50+ trades during the London session, I do manage to grind out a daily profit with...
Leverage is not the problem. It is the rush to make money. Not having patience is the problem. Leverage has direct connection with patience. In my case, I find it easy to find a connection between money and a gift of the God. Which means I must work with a lot of vigour and more patience to attract God's eyes.
It works for me and I remain an undying optimist.
Practice makes a person perfect
  • #905
  • May 22, 2021 11:36pm May 22, 2021 11:36pm
Quoting simnz
{quote} Where do you figure in all this?
"Few finds".
  • #906
  • May 22, 2021 11:38pm May 22, 2021 11:38pm
Quoting joyny
{quote} "Few finds".
Why are you here then? Go, dig deeper and waste not energy on words or is it part of the venture?
Practice makes a person perfect
  • #907
  • May 23, 2021 12:01am May 23, 2021 12:01am
Confusing, Isn't it? To think or to claim or even preach about the truth when there is no exact method or system (if you can call it) to determine and say with absolute certainty that this is THE TRUTH which i think in this case could be singularity. As a matter of fact or lets simply call it a possibility or probability that someone really has with absolute conviction, without a shadow of doubt been to the bottom of it all and how do you determine if one fiction is better than the other or how could it be wrong if someone would choose fiction over reality because the fiction is their reality. Moreover can you really call it fiction when all that it really is a difference of opinion at best or a deviation from a set of rules/principles on a matter of what both believe to be true, what happens then?
A trade should be based on an assumption based on facts
  • #908
  • May 23, 2021 12:06am May 23, 2021 12:06am
Quoting simnz
{quote} Why are you here then? Go, dig deeper and waste not energy on words or is it part of the venture?
I trade only automated with a bunch of EAs runing. Have built VPS Infrastructure and monitoring tools. So I very rare need to do anything.. just some monitoring. I did and have what a lot people dream off - "earn money while you sleep".

I can spend my time as I wish... Yes I work on new strategies/EAs now too. But no rush. As hobie. So here in ff I communicate. Some social entertainment for me. And I learn from other people here. Ideas can be found everywhere. Not usable 1:1 but with right adjustments its posible to turn a lot of ideas in something automated and profitable.

If you read my posts will find I rely on diversification. A lot of ideas needed for that. It is constant pratice.
  • #909
  • May 23, 2021 12:21am May 23, 2021 12:21am
Quoting PeterCaleb
GEfx etc, you want a fist fight but I always carry a Bowie knife and a pistol into a fight. It's the same with these other people here. Out from behind the keyboard, I've used a cricket bat, Bowie and a pistol to do my hunting... as in .... REAL life hunting. Not this crap with video games and "trading platforms". My only goal here is to pull the curtain away to show the victim mentality of the so-called "knowledgeable traders"
This thinking is not healthy...
  • #910
  • May 23, 2021 2:46am May 23, 2021 2:46am
Quoting RickM
{quote} Hi Mtinfix I see it differently. I invest by buying stocks and holding them for months or years to slowly grow my account for my future retirement. I gamble short term by trading forex positions for seconds or minutes to earn a wage that pays my bills this month. A gamble can offer odds 90% in your favour like trading does for me but it’s still gambling. As anything can go wrong, I believe a trader needs to have an additional source of income when the unexpected occurs, and the house wins.
If you've got a 90% winning ratio forex scalping system that pays your bills every month then you've found the holy grail mate. Do you wanna share it?
  • #911
  • May 23, 2021 3:21am May 23, 2021 3:21am
Quoting Mtinifx
{quote} If you've got a 90% winning ratio forex scalping system that pays your bills every month then you've found the holy grail mate. Do you wanna share it?
Attached Image

I am a day trader. No gambling, trading.
  • #912
  • May 23, 2021 3:23am May 23, 2021 3:23am
Quoting PeterCaleb
For me life is a wonderful teacher. People with just an opinion get slammed from pillar to post each and every time then cry about it and try to find someone or something to blame for their own irresponsibility. For people who have thought a challenge might settle things here. You lost before it began. At the end of the day, "good guys" are not always the good guy. And "bad guys" are not always the bad guy. GEfx etc, you want a fist fight but I always carry a Bowie knife and a pistol into a fight. It's the same with these other people here. Out...
please don't stun us anymore.
please.
  • #913
  • May 23, 2021 3:25am May 23, 2021 3:25am
Quoting maverick2017
I have a question for everyone - How is real life related to day trading?!
Trade 4-6 hours. Start 2-3 hours before London open.
After you are free.
  • #914
  • May 23, 2021 3:35am May 23, 2021 3:35am
Quoting PeterCaleb
For me life is a wonderful teacher. People with just an opinion get slammed from pillar to post each and every time then cry about it and try to find someone or something to blame for their own irresponsibility. For people who have thought a challenge might settle things here. You lost before it began. At the end of the day, "good guys" are not always the good guy. And "bad guys" are not always the bad guy. GEfx etc, you want a fist fight but I always carry a Bowie knife and a pistol into a fight. It's the same with these other people here. Out...
I don't know how old you can be but at least he writes things, arguments, truths about life. what a fifty, sixty-year-old man has known and is aware of for a long time.
so you are left behind with wisdom.
  • #915
  • May 23, 2021 3:39am May 23, 2021 3:39am
Quoting ryuryu
{quote} For me trading full time has several Disadvantages: 1. No pension 2. No vacations 3. Pretty stressful (but more you trade less stress, just don't care much)
1.Open a company, trade on company account and have every month a salary.
2. Live like digital nomad. It's a 12 month vacantion per year. You can travel a lot.
  • #916
  • May 23, 2021 4:16am May 23, 2021 4:16am
Quoting remonpilip
{quote} We observe all individuals who began to day trade between 2013 and 2015 in the Brazilian equity futures market, the third in terms of volume in the world, and who persisted for at least 300 days: 97% of them lost money, only 0.4% earned more than a bank teller (US$54 per day), and the top individual earned only US$310 per day with great risk (a standard deviation of US$2,560). We find no evidence of learning by day trading.[14]Also to nohe Statistite that most of the richest...
1. You compare the results of newbie day traders with professional long term traders that work for hedge fund.
2. The profesional day traders work for proprietary trading company not for hedge fund.
3. Professional day traders make in a month more profit(percentage speaking) than professional long term traders in a year.
4. In the market 70-90% of traders losing money.
  • #917
  • May 23, 2021 4:45am May 23, 2021 4:45am
Quoting remonpilip
{quote} Hey ryuryu, long term trading doesn't equate to high DD. high DD is, if you didn't control your risk to fit your risk appetite. about the 1% daily target,, IMHO technically, there is potential. realistically, it is utterly delusional. technically, you can win lottery. realistically, you have 1 in 14Million chance to win it. (source) I rather do blackjack than trying to achieve 1% daily. Prove me wrong that...
You must to research more. You know nothing about day trading.
A day trader who work for a prorietary trading company can lose 10% maximum per day with a maximum lose or DD of 20% of account.
I let you guess about the profit.
  • #918
  • May 23, 2021 4:49am May 23, 2021 4:49am
Quoting tiborf71
{quote} please don't stun us anymore. please.
us? who is "us'?
  • #919
  • May 23, 2021 5:31am May 23, 2021 5:31am
Quoting Tim_isoara
{quote} You must to research more. You know nothing about day trading. A day trader who work for a prorietary trading company can lose 10% maximum per day with a maximum lose or DD of 20% of account. I let you guess about the profit.
Hi Tim_isoara

Well if they worked for me, I would sack the lot of them.

That's unacceptable to lose 10% in a day. They must be bloody idiot's gambling the firms money without a care in the world.

THAT IS NOT HOW A RETAIL TRADER SHOULD TRADE THEIR OWN MONEY
My maximum loss would be 1% and I am done for the day - but that's rare anyway.

Lets keep this to how a retail trader should manage their funds.
Trading thin liquidity at the boundary of the charts
  • #920
  • May 23, 2021 5:47am May 23, 2021 5:47am
There is nothing unhealthy about shining a light on things that people (few/some/many/all) are not aware of. People today are soft. That's as simple as it is. You cannot say booh! to them without watching some part of them jump out of their skin.

I'm not on some crusade, I just believe in a fair go for people learning. To me when someone is learning they are showing self respect, but when they assume they're the apex, they are not showing that same self respect. People have backwards ideas about all this stuff. If you studied real life you'd know this.

The word "truth" seems to be a 'dangerous' word for some people. Are you serious? Can you see the boogeyman anywhere around?

Either the price is rising or falling.

Either the market stalls or it doesn't.

Either a person assumes they're ready to begin trading or they don't.

Where is the falsehood ?

Where is the misinterpretation?

The truth about anything meaningful is always a bit gritty and dirty.

I know trend traders who day trade. And scalpers who trend trade.

Where does it say you cannot oscillate your trades inline with market flow?

I've been dong it for years and it's worked out pretty well so far.

This is why I know all these stories are false. Once you've traded for a while you get to know the world and see how the different landscapes fit together.

And as for someone recently saying they're competent in most every market except the Bond market - hhmmm ... really? Can you use a calculator and yearly calendar as well as you chit chat on forums? Can you draw a straight line from timeline A to timeline B? And can you see the transitional trading going on? If not then you should rethink what you "think you know".

Bonds are depositional and extractive in nature. You "should" already know this. They are ratings for (Heeeeerrhhmmm) "other markets". If you learn about transitional trading then Bonds are fun and interesting as a class for themself.


Peter
Real Trading is not gambling.
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