Trader333
Moderator
- Messages
- 8,746
- Likes
- 1,025
Spamula,
It is more than likely that most people who daytrade dont make consistent profits. The fact that this is evidenced by brokerage accounts is no surprise because if the same study was done on position traders you would get the same result, ie most lose money.
That said I remember Scripophilist posting on the findings of time frame and the randomness of market behaviour. What he said was that the shorter the time frame the more random the price movement and I believe this was from the findings of a study.
However, there are a number of highly successful daytraders a couple I know of make over $1 Million a year. Before you ask No I dont have an independently audited accountants proof of this, they have nothing to sell and they dont brag of their earnings but they are known by a few to make this kind of money so it is possible.
Paul
It is more than likely that most people who daytrade dont make consistent profits. The fact that this is evidenced by brokerage accounts is no surprise because if the same study was done on position traders you would get the same result, ie most lose money.
That said I remember Scripophilist posting on the findings of time frame and the randomness of market behaviour. What he said was that the shorter the time frame the more random the price movement and I believe this was from the findings of a study.
However, there are a number of highly successful daytraders a couple I know of make over $1 Million a year. Before you ask No I dont have an independently audited accountants proof of this, they have nothing to sell and they dont brag of their earnings but they are known by a few to make this kind of money so it is possible.
Paul
- Messages
- 2,325
- Likes
- 17
I would seriously doubt whether you would find many wealthy daytraders. The reason? Secrecy. There are a lot of them out there, but finding them is difficult.
If you were pulling a few million a year off the markets, would you be shouting about it and making yourself the target of weirdos with risk to yourself and your family? Nah. You'd be keeping your head down, your name out of the bright lights, and enjoying life with your homes around the world, your boats and your planes.
I know three. And all three guard their privacy ferociously.
If you were pulling a few million a year off the markets, would you be shouting about it and making yourself the target of weirdos with risk to yourself and your family? Nah. You'd be keeping your head down, your name out of the bright lights, and enjoying life with your homes around the world, your boats and your planes.
I know three. And all three guard their privacy ferociously.
Naz
Experienced member
- Messages
- 1,391
- Likes
- 25
Hi Oldun,
The thing i'm trying to get over is that you can trade the Nasdaq with charts and that is what this new stratergy is all about charts.How you then take the trade is up to you.I of course use level 2 drect access.
Yesterday i demonstarted it live,just with charts.Not one trade failed.
On Nov15th i will show this chart stratergy.Later in the day a small section will be devoted to level 2 to show how anyone who wants to use it could do so.
The thing i'm trying to get over is that you can trade the Nasdaq with charts and that is what this new stratergy is all about charts.How you then take the trade is up to you.I of course use level 2 drect access.
Yesterday i demonstarted it live,just with charts.Not one trade failed.
On Nov15th i will show this chart stratergy.Later in the day a small section will be devoted to level 2 to show how anyone who wants to use it could do so.
Last edited:
Naz
Experienced member
- Messages
- 1,391
- Likes
- 25
Paul,
Yes thats right 4 winners do give a much higher profit level than if one failed.But i'm getting gobsmacked by the fact that it has continued to give up so many winners compared to any loosers just by following the rules.The discipline in following the rules is the hardest part.
Why it works i've got no idea. But as you know the same things seem to happen over and over again on the Nasdaq.
Yes thats right 4 winners do give a much higher profit level than if one failed.But i'm getting gobsmacked by the fact that it has continued to give up so many winners compared to any loosers just by following the rules.The discipline in following the rules is the hardest part.
Why it works i've got no idea. But as you know the same things seem to happen over and over again on the Nasdaq.
Last edited:
- Messages
- 2,325
- Likes
- 17
timsk said:
No, I'm not one of them.
I've been mentored by two of them, and the first was my introduction to daytrading. So I know HOW to take a million a month out of the markets, but I am finding that doing it is not quite as easy as I had hoped. :cheesy:
Hi all,
This is my first post after lurking for a few weeks and I'd just like to confirm Naz's last couple of posts. I had 1 to 1 training with Naz yesterday on trading the NASDAQ using charts and news items.
We covered areas such as trading psychology, having a plan and sticking to it, scanning for likely trades, timing the entry and managing the trade.
We identified 8 possible trades and waited for the entry set-up to paper trade them. Four were entered using Naz's criteria and four didn't fulfil his entry criteria so were left alone.
All of the four trades were managed in real time using charts only and all were successful returning a total potential profit of 3125 points in around 2 hours.
Naz didn't hype up his system and all trades were managed in real time - no strings attached.
Thanks for that Naz, you've given me a lot of food for thought.
Bill W.
This is my first post after lurking for a few weeks and I'd just like to confirm Naz's last couple of posts. I had 1 to 1 training with Naz yesterday on trading the NASDAQ using charts and news items.
We covered areas such as trading psychology, having a plan and sticking to it, scanning for likely trades, timing the entry and managing the trade.
We identified 8 possible trades and waited for the entry set-up to paper trade them. Four were entered using Naz's criteria and four didn't fulfil his entry criteria so were left alone.
All of the four trades were managed in real time using charts only and all were successful returning a total potential profit of 3125 points in around 2 hours.
Naz didn't hype up his system and all trades were managed in real time - no strings attached.
Thanks for that Naz, you've given me a lot of food for thought.
Bill W.
Naz
Unless that is a typing error on wheeldin's part 3125 points is a stonking profit, unless I am missing something on nasdaq stock's as I am used to dax & swiss indices.
this must be a very good setup to produce such a good return.............u must have some idea of the logic behind it & why it works so well surely ??
jay
Unless that is a typing error on wheeldin's part 3125 points is a stonking profit, unless I am missing something on nasdaq stock's as I am used to dax & swiss indices.
this must be a very good setup to produce such a good return.............u must have some idea of the logic behind it & why it works so well surely ??
jay
Hiya Naz. I knew the charts would getcha one day....
C'mon.....admit it. You think charts alone can be used
for succesful trading. You love charts...
you're gonna marry a chart. hehehe
Seriously though. Through sscanning through some of your older
posts, your attitude towarsd charting does seem to have changed
somewhat. would you agree?? anyways...great stuff by the sound
of it. well done.
Be lucky
Keano
C'mon.....admit it. You think charts alone can be used
for succesful trading. You love charts...
you're gonna marry a chart. hehehe
Seriously though. Through sscanning through some of your older
posts, your attitude towarsd charting does seem to have changed
somewhat. would you agree?? anyways...great stuff by the sound
of it. well done.
Be lucky
Keano
Trader333
Moderator
- Messages
- 8,746
- Likes
- 1,025
Wheeldin,
Are you sure it wasnt $3125 of profit at $10 per point ? Because to make 3125 points on 4 trades is over 750 points profit per trade which would require each stock to move by over $7 and although the likes of NTES had dropped by $14, most of this was before the open.
Paul
Are you sure it wasnt $3125 of profit at $10 per point ? Because to make 3125 points on 4 trades is over 750 points profit per trade which would require each stock to move by over $7 and although the likes of NTES had dropped by $14, most of this was before the open.
Paul
PitBull
Established member
- Messages
- 620
- Likes
- 58
Wheeldin or Naz
After seeing Naz, is the strategy he taught you something you can apply to your own style of trading? The reason I ask, although Naz is a daytrader and watches the price action in real time, can you adapt his strategy to use EOD?
I am interested Naz, but dont know whether it would suit my style, EOD through SB firm.
Your thoughts appreciated.
After seeing Naz, is the strategy he taught you something you can apply to your own style of trading? The reason I ask, although Naz is a daytrader and watches the price action in real time, can you adapt his strategy to use EOD?
I am interested Naz, but dont know whether it would suit my style, EOD through SB firm.
Your thoughts appreciated.
