Proof that Day Trading is profitable?

This is a discussion on Proof that Day Trading is profitable? within the General Trading Chat forums, part of the Reception category; Originally Posted by ian23 very interesting indeed. sadly yes...

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Old Jul 17, 2009, 11:31am   #8
 
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Originally Posted by ian23 View Post
very interesting indeed.
sadly yes
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Old Jul 17, 2009, 11:35am   #9
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Originally Posted by Skill Leverage View Post
I could be wrong, but I don't think that Goldman et al make their profits from sitting around on Interactive Brokers all day wildly punting for £1200pp. I think you'll find it's more for the Mike Ashleys of this world.
Wasn't spreadbetting originally a hedging vehicle for the institutions and other professionals when it was started in the 1970's? And only really been available to retail (private) taders for the last 10 years or so?
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Old Jul 17, 2009, 11:39am   #10
 
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No, not at all; it was in order to enable people to trade gold without buying the metal itself, since buying gold carried a large premium at the time. The '90s boom was more due to the rise of the Internet than anything else.
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Old Jul 17, 2009, 11:48am   #11
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Originally Posted by melanie911 View Post
Yeah, very interesting and Ouch! Why did they let that lot go on for so long? Even before the end of the first page they should have realised something was wrong and called a halt to their operation to take a closer look at what they were doing. Just my view.
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Old Jul 17, 2009, 4:13pm   #12
 
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Originally Posted by Neoripley View Post
Wasn't spreadbetting originally a hedging vehicle for the institutions and other professionals when it was started in the 1970's? And only really been available to retail (private) taders for the last 10 years or so?
Neo,

Actually, as I recall, in it's original form, it was more to allow institutional traders to place side-bets for their own accounts whilst staying under the radar of their own compliance departments.

Later incarnations catered to the somewhat compulsive nature of many traders of the time with additions such as goldfish racing.

In all other respects Skill is obviously right. And whilst Goldman, et al. obviously don't have any interest, you'd be surprised by how many of their employess still do stuff for their personal accounts on the side. Only difference is these days they probably have to be a bit cleverer about it and use vehicles like binaries and companies like Tradefair.
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Thanks! The following members like this post: Skill Leverage
Old Jul 17, 2009, 4:40pm   #13
 
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Originally Posted by Neoripley View Post
...I had started doing this with a trading partner (friend) who became impatient because he said he could make more money doing something else.
This is a major red flag.

Ditch this guy or the chance of success comes down dramatically regardless of your strategy.
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Old Jul 17, 2009, 5:02pm   #14
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This is a major red flag.

Ditch this guy or the chance of success comes down dramatically regardless of your strategy.
LOL, yeah actually he chose to pack it in himself after three months trading with me last year - he was between jobs back then but he got bored with trading 'small' stakes and said he could earn more money in his normal line of work.

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