Day Trading is Dumb

TWI

Senior member
2,516 246
you do not have a "boring" system that you honestly believe will give you an edge then don't even start.

easier said than done. I would expect that the % of successful traders that waited until they found their edge to start trading is very small.
I suspect the % who didn't have an edge lost a lot if not all their money trying to find one.
It is the only way I am sure of it.
Only way to get to be consistently profitable, by that I mean the point where you make a living from it, is to learn a lot before you put cash down. Either you are lucky and know people who can teach you personally or you need to learn by filtering out the useful information available on the net and in books. Neither way will be quick, research never is, but in the long run you will then have a chance of survival.
I found that the edge is actually very simple but took me a long time to figure that out. Patience and discipline.
 

Hooya

Experienced member
1,802 2
of course they lost more but my point was that its not easy to find an edge with out trading
 

sidinuk

Established member
624 4
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.
 

chump

Senior member
2,212 274
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)
 

Hooya

Experienced member
1,802 2
well my spelling,grammar and typing are all shocking and I can tell you it doesn't effect my trading one bit. :LOL:
 

Pennt

Newbie
7 0
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.
 

sidinuk

Established member
624 4
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?
 

donaldduke

Experienced member
1,665 251
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.
 

Roberto

Experienced member
1,069 11
sidinuk said:
Perhaps English is not your first language, for which I apologise if I have caused any offence.
Whenever I say anything like the contents of your post (which I do all too often, in another place), they always turn out to have dyslexia, which leaves me dreadfully embarrassed. Not that I'm suggesting a defence for him, you understand ... :)
 

cj12

Established member
597 6
Roberto said:
Whenever I say anything like the contents of your post (which I do all too often, in another place), they always turn out to have dyslexia, which leaves me dreadfully embarrassed. Not that I'm suggesting a defence for him, you understand ... :)

you all on about my enlish pleeesas pooint thiis out to me thakcs.

sun :confused:

ps i ,made money today :D
 

LION63

Established member
746 33
How many of us have systems or strategies that stand up under scrutiny? It reminds me of a very short joke. "Man sends a telegram to his relatives - System working send more funds."
 

karnak

Newbie
6 0
Hello everyone.I rarely post being somewhat slow and useless with a keyboard but I am moved to congratulate those who have expressed themselves so honestly on this thread.I trade full time and for me the only vehicle is intra-day index scalping.I have found the real time volume charts available on www.marketvolume.com especially useful.I make a very modest living which has got a little better since conquering my own weakness for trading whipsaw phases in the indices.Keep cool,keep clinical and do not allow your emotions to drive your trades.