Is it really possible to make money in this trading lark?

This is a discussion on Is it really possible to make money in this trading lark? within the First Steps forums, part of the Reception category; Noah, you are possibly a good trader but your post on daytrading is rubbish.It's full of inaccuracies probably founded on ...

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Old Oct 24, 2004, 10:25am   #185
Joined Dec 2001
Noah, you are possibly a good trader but your post on daytrading is rubbish.It's full of inaccuracies probably founded on ignorance.A really good daytrader makes money regardless of market direction.I grant you that in a 1directional bull market a LTBH will outperform most daytraders, but in the choppy markets of the past 3 years I'd say that certainly is not the case.Daytrading is not like going to a casino if you know what you are doing.Saying that 1% return daily on 100k capital is nothing much is foolhardy in the extreme.Do the sums that's a fantastic return, ROCE or in real money.More importantly, that type of return is more likely in all markets for a daytrader. Judging by your comment,

''I do not short unless its a true bear market though because shorting is very very risky'',

suggests you are a bull market trader. A good trader doesn't get scared of shorting.I'd give my money to a good daytrader rather than than likes of you anyday.Much safer and I'd venture that he'd make loads more money and way more consistently.

Last edited by nobrainer; Oct 24, 2004 at 7:27pm.
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Old Oct 24, 2004, 10:28am   #186
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Quote:
Day trading is ignorant with any cash amount. Day trading requires total luck.
Sorry I dont agree with that at all and I have shown it not to be the case on many occasions with real time trades posted on this site. I am not going to get into a debate about it, (which I have on previous threads), because one thing I have learned is that once people have made their mind up on something then even presenting factual proof doesnt change it so there is simply no point in even trying any more.


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Old Oct 24, 2004, 1:16pm   #187
 
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Well if I were to take the balance of opinion in this thread as being indicative of some sort of truth about trading I would conclude it is an utter waste of time and failure, regardless of skill, is almost a certainty.
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Old Oct 24, 2004, 1:29pm   #188
 
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Originally Posted by fulgore
Well if I were to take the balance of opinion in this thread as being indicative of some sort of truth about trading I would conclude it is an utter waste of time and failure, regardless of skill, is almost a certainty.
equally, it may be indicative that the majority of posts and nature of posts are of beginners who have lost, and have difficulty accepting that it is possible to win.

hence the constant desire for proof.

posting your statements will not achieve much, as you can still be accused of "manufacturing" it, or that is a lucky streak, etc etc etc.
the failure to see that it can be done is a major reason why most players fail. the failure to accept that their strategy may be wrong. the failure to trade after a sequence of losses.

most of the winners try to help. but after barrage of accusations, inuendo of cheat/lying, or straightforward pointless challenges, the winners cant be bothered, and move onto the next winning trade.

you then are left with beginners/losers challenging/arguing other beginners/losers.

have a successful new trading week, y'all
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Old Oct 24, 2004, 1:34pm   #189
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Originally Posted by fulgore
if I were to take the balance of opinion in this thread as being indicative of some sort of truth about trading I would conclude it is an utter waste of time
The balance of opinion in threads like this, and in places like this, tells you more about who has the strongest opinions and who most wants and needs to "Be Right", than it does about truth or reality. Didn't you know?

But don't disappear in despair - there's a lot of good stuff around here, as well.
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Old Oct 24, 2004, 2:46pm   #190
 
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Originally Posted by trendie
equally, it may be indicative that the majority of posts and nature of posts are of beginners who have lost, and have difficulty accepting that it is possible to win.

hence the constant desire for proof.

posting your statements will not achieve much, as you can still be accused of "manufacturing" it, or that is a lucky streak, etc etc etc.
the failure to see that it can be done is a major reason why most players fail. the failure to accept that their strategy may be wrong. the failure to trade after a sequence of losses.

most of the winners try to help. but after barrage of accusations, inuendo of cheat/lying, or straightforward pointless challenges, the winners cant be bothered, and move onto the next winning trade.

you then are left with beginners/losers challenging/arguing other beginners/losers.

have a successful new trading week, y'all


Yes, having gone through a lot of threads here I see a lot of truth in that statement. It is so difficult to get advice from people who are actually having good sucess because those that have lost have a psychological need to believe anyone saying they are doing well is lying.
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Old Oct 24, 2004, 2:51pm   #191
 
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Quote:
Originally Posted by Roberto
The balance of opinion in threads like this, and in places like this, tells you more about who has the strongest opinions and who most wants and needs to "Be Right", than it does about truth or reality. Didn't you know?

But don't disappear in despair - there's a lot of good stuff around here, as well.

Oh certainly. I happen to not take the doom laden view espoused by many here. I think it is a case of those that are winning are to busy enjoying themselves to boast about it here and those that are losing feel they are doing a service to others thinking of entering the game by telling them that they don''t have a hope in hell.
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Old Oct 24, 2004, 3:08pm   #192
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Originally Posted by Noahedwinbeach2
I honestly can lose about 10 straight trades and just hit about a 20% gain (on margin) and make up for those 10 straight losses
Please excuse my ignorance but my small mind is unable to grasp the mathematics involved in the above statement.

I can see one possible solution to this but I would be amazed if you took this option. You would have to start by risking lesser amounts before laying on a relatively huge (catch up) bet on trade eleven. Is this what you’re proposing? You could get away with this for a few times but eventually you would blow up. If you realize this then fair enough.

Congratulations on adopting a Darvas like strategy. I too have many of the classics and find them compulsive reading.
Do you get faded often with this strategy? How do you filter good candidates from bad?

Quote:
Day trading is ignorant with any cash amount. Day trading requires total luck.
Surely day trading requires greater skill as less people are successful at it.


Rgds.
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