Day Trading is Dumb

This is a discussion on Day Trading is Dumb within the Indices forums, part of the Markets category; of course they lost more but my point was that its not easy to find an edge with out trading...

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Old Oct 13, 2004, 2:34pm   #17
 
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of course they lost more but my point was that its not easy to find an edge with out trading
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Old Oct 13, 2004, 2:58pm   #18
 
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Quote:
Like sidinuk trying to look smart, in saying hope you maths is better than your English, and i hope you trading is better than you personality
OK that was a flippant comment but it is a serious point. Making a profit from day trading is extremely difficult. As twalker says it is about finding an edge, building a system to exploit that edge and then trading that system day in, day out to let the edge play out. Any edge you have in your trading system will be small - this is a very competitive business. Putting together a trading plan that has an edge and is future proof is a very tough job, it requires a good understanding of probabilities and the maths can get complicated. Small errors in the plan can more than offset any edge you may think you have found.

That is my point. If you are unable to write a sentence without a grammatical error then I hope you can write a trading plan without a mathematical error. If not, then the edge you thought you had won't be real.

Perhaps English is not your first language, for which I apologise if I have caused any offence.
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Old Oct 13, 2004, 3:02pm   #19
 
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I bet you spell checked that post a few times :-)
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Old Oct 13, 2004, 3:09pm   #20
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Sun,
Your grammar is just fine in fact it 'sounds' like you might have a 'grammar twin' already on these boards ... you'll work it out (your trading)
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Old Oct 13, 2004, 3:45pm   #21
 
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well my spelling,grammar and typing are all shocking and I can tell you it doesn't effect my trading one bit.
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Old Oct 13, 2004, 4:26pm   #22
 
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I agree with sidinuk, I am currently building / testing various systems, I have been testing on a years worth of intra-day forex data, by moving the stop loss 10 points, the back-tested results went from losing 2,743 pips to a gain of 4,200, this does not mean I have found good system or that it will work, it just demonstrates the sensitivity / difficulty of trying to find an edge.
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Old Oct 13, 2004, 5:34pm   #23
 
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To be fair, I'm sure everyone takes more care over their trading than they do with posting comments on a forum. I was just trying to identify why Sun may not be making a profit - It just struck me that he was probably more of a 'big thinker' and perhaps a little careless with the detail. Anyway, I'm going to stop digging this hole now - before someone picks up on my far from perfect English.

Pennt, that is quite a huge difference that just moving the stop loss 10 pts makes - Can you share any more details?
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Old Oct 13, 2004, 5:44pm   #24
 
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Sun,

You havent figured the game out yet. you need to work harder,
trade more, read as many books about trading as you can get your hands on,
read everything you can find on the internet. Perhaps attend a few day trading courses etc.

Youll get there in the end but you might need to lose another 10K to get there. Keep your positions
small so the 10K doesnt but become another 25K down the hole.
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