How Do DayTraders Make Money in the Futures Market?

This is a discussion on How Do DayTraders Make Money in the Futures Market? within the First Steps forums, part of the Reception category; Originally Posted by mechanicaldaytrader ...I sent the moderator a email directly - I await the Moderator's response. The Mechanical Day ...

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Old Mar 22, 2009, 3:02pm   #57
 
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Originally Posted by mechanicaldaytrader View Post
...I sent the moderator a email directly - I await the Moderator's response.

The Mechanical Day Trader
You'll be waiting some time then, as no message received here yet.

edit: I have your mail and will reply in full after I have edited the thread.
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Last edited by Lightning McQueen; Mar 22, 2009 at 3:12pm. Reason: received email @ 14:06
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Old Mar 22, 2009, 3:14pm   #58
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Originally Posted by Lightning McQueen View Post
You'll be waiting some time then, as no message received here yet
it's now been sent 3 times successfully, because the server refreshed properly after each time. There doesn't seem to be a sent folder that I can find in my profile to verify I sent it (with a time/date stamp) so you might have to get out the pliers and screwdriver on your server to fix something cuz they're sent...When I sent a PM, the screen didn't refresh.

Otherwise, you can send me a PM or email and I should be able to reply. My email asks 5 specific questions regarding this thread. Or send a email to my gmail account and I can reply with a copy of what I previously sent.

thx,

The Mechanical Day Trader.
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Old Mar 22, 2009, 3:16pm   #59
 
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Originally Posted by mechanicaldaytrader View Post
how interesting...I sent a reply via PM to the moderator .....scratch that...I sent the moderator a email directly - I await the Moderator's response.

The Mechanical Day Trader
Dantes post wasnt bad or vindictive I dont see ya problem. He actually posts some real interesting stuff and well respected on here. As long as you trying to sell something on here you will get criticised apart from the fact its free advertising. Guess my turn to get shouted at lol. (Better defend me Tom!!)

Happy mothers day

Claudia
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Old Mar 22, 2009, 3:36pm   #60
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Originally Posted by trader_dante View Post
I hate to spoil the party but I sit with consitently profitable daytraders in the futures market and they don't make money looking at a handful of indicators and moving averages.
I don't teach that..I teach about institutional stops; however, after recognizing an institutional stop, you can definitely qualify the oversold or overbought condition with indicators. Anyone that disagrees with that, imo, is not a technical trader. They would be classified in my book as a fundmentals trader. Dante refers himself as a position trader - they don't use technicals in the manner that I do.

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Originally Posted by trader_dante View Post
They make money by examining the order flow, identifying what the algos and other locals are doing by reading the ladder and picking off the other, unsuccessful traders that don't know what they are doing.
sounds like scalping...I want 80% or more of the whole trend. There are several good videos on YouTube showing technicals that catch decent trading moves. Anyone that disagrees with that doesn't have credibility in my book. Live and let live - traders have the right to trade differently.

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Originally Posted by trader_dante View Post
I am not saying your method doesn't work - but lets not make the mistake of thinking that day traders at banks and prop firms are following anything like you show...because for the most part they are not.
yes you are.

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Originally Posted by trader_dante View Post
I've seen many traders come in with "systems" - even ones that allow for the element of discretion. And none of them have made any money consistently.
have I made any type of claim similar to the above? I am strictly speaking of HOW TO do it. Again, Dante doesn't take any particular post I write and rebut it; merely uses generalities. Be specific.

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Originally Posted by trader_dante View Post
As for the refund if its not profitable...well, will people ever admit they weren't profitable and claim for the refund? Probably not. Also, there are usually 100 get out clauses. You weren't following the rules. You weren't at your computer when the signals were given. etc etc
The current guarantee is pretty specific and easily proven to any client - furthermore, Kindergarten Trading Rules are easily shown, I even have a Windows Media movie I show to Fundamentals graduates to see if they can handle the next step. No specific comment is made regarding the guarantee on the website, merely FALSE generalities ("100 get out clauses"). Ok, Dante, list them. I want all 100.

Quote:
Originally Posted by trader_dante View Post
I saw in a post above you said something about making 150 pips on 4/5 days. I presume this is measured in pips per contract. As in: If you do do 50 pips on a 3 lot thats 150 pips. Because taking 150 pips PER CONTRACT on 4/5 days is not easy and I really am a doubter that any mechanical system can do it.
I don't trade pips Dante. Re-read what I wrote - every aspect of the above is false.

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Originally Posted by trader_dante View Post
Just my 2 cents. Not trying to bring it down. Just my thoughts and something to think about for the newbs.
Yes, you ARE trying to bring it down. It rocks your world, I guess. "Just my thoughts" is just that...no facts, just false generalities.

Daytraders need to be accurate...A LOT..in their perception of reality, else they get it wrong. I invite Dante to reread my thread and quote specifics and be 100% accurate in what I write. THERE IS NO OTHER STANDARD in my trading or view of the MIni Dow. I set the standard pretty dang high for me and my clients.

Breakfast is almost on the table...it's summer here in Costa Rica and absolutely beautiful...unless someone writes something really outrageous this thread is ignored for the balance of this month, have a nice rest of the month everyone..got to go out and play then plenty of work to do the rest of the month.

The Mechanical Day Trader
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Old Mar 22, 2009, 3:46pm   #61
 
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Originally Posted by neil View Post
I see your feathers are ruffled when someone points people to free information

Dante's stuff is still free....your advertising leads people to the below hype.
You do display a VENDOR tag....you could go to the commercial systems thread and "out" yourself as a seller of trading sytems.



DayRaider 2.0 Software License for 1 year ------- $2,400

Renewal Prices are locked in at the price you started and can never increase/ Clients must complete the Fundamentals of Futures Trading course ($500) before becoming a subscriber to DayRaider 2.0 .
An edge cannot be bought, it cannot be sold and it cannot be given away. Whether the "stuff" is free or has a fee makes no difference, crap is crap. This "stuff" appeals to hit-and-miss traders.
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Old Mar 22, 2009, 3:58pm   #62
 
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ok, thread edits and deletions complete, please lay off the links advertising your system.

thanks
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Old Mar 22, 2009, 4:00pm   #63
 
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Originally Posted by Lightning McQueen View Post
ok, thread edits and deletions complete, please lay off the links advertising your system.

thanks
Shame - was looking forward to Dante having his 2 cents worth would be funny
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Old Mar 22, 2009, 4:45pm   #64
 
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Shame - was looking forward to Dante having his 2 cents worth would be funny
T_D is free to post Claudia, I haven't stopped debate, just called a halt to the ad linking and hooks
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