Day trading is for suckers?

Discussion in 'Trading' started by qlai, Nov 20, 2019.

  1. i disagree...stock market is a funny sector. unlike a job, you can work hard all you want...you can still fail due to various reasons.
     
    #91     Jan 24, 2020
    Laissez Faire and lovethetrade like this.
  2. maxinger

    maxinger

    agree mister.

    even if we try very hard, not all can make it.
     
    #92     Jan 24, 2020
  3. d08

    d08

    And when you want to talk crap about your boss, you just talk to yourself in the mirror. Not very healthy.
     
    #93     Jan 24, 2020
    Laissez Faire and comagnum like this.
  4. Sekiyo

    Sekiyo

    Trading without an edge is for sucker.
    Trading without risk management is for sucker.

    However day trading is costs intensive.
    The more you trade, the more you pay fees.

    In the end it can turn a winner into a loser.
    If your edge stand still, it ain’t a suckery.
     
    #94     Jan 26, 2020
    comagnum likes this.
  5. It’s not true, don’t believe that, that kind of profit is not possible in such a short time
     
    #95     Jan 30, 2020
  6. qlai

    qlai

    Why not? What does time have to do with it?
     
    #96     Jan 30, 2020
  7. Interesting you mention Timmay Sykes. I spent many weeks back testing his "patterns" using Quantconnect and they looked to be absolute nonsense. Everything he recommended lead downhill at 45 degrees. I am baffled.
     
    #97     Jun 8, 2020
  8. S2007S

    S2007S



    Baffled???


    Pump and sell. Pump and sell.

    This still happens today which is quite surprising people still play this game.
     
    #98     Jun 8, 2020
  9. GotherL

    GotherL

    This Madaz guy doesn't really stand out to me as being a fraud. I've learned a thing or two from his vids. Ricky on the other hand gives me red flags right on the spot. He just spouts nonsense all the time with intent to fool the newb traders into thinking he knows what he's doing. Never offers anything of real value. Now that's the definition of a true snake oil salesman!
     
    Last edited: Jun 8, 2020
    #99     Jun 8, 2020
  10. trader99

    trader99

    I think he's legit. I've been in his room for a couple of months. I've seen him call out trades in real-time.

    The reason I stop subscribing to his service is because I'm more of a large cap trader. He trades small caps/low floats most of the time. Also, I've seen him short front side too many times. Maybe it works well on these types of stocks. But for me that's too scary. I don't want to get run over or a stock get halted and it gaps up 100% or whatever. I've seen him take some crazy losses. After that, I feel like it's not for me. I've learned a few things. Useful actually. Also, he's a gamer type so he's much faster on the keyboard than me. He swipes the routes and get shares faster than most people. He's legit.

    While he makes good money, he's also down a lot. I've seen him down -$25K to -$40K in a short time too. He's not perfect. But he makes good money.

    These scalper/daytraders who honed their skills and aggressive can put up numbers like that easily. I've seen it done.

    I have tighter risk management and position sizing. But if I was trading prop or OTM, sure if I swing 30K-100K shares a clip then I can put up those kinds of numbers too. No problem.

    He's good but there are guys who pull down 6 figures a day! They just swing bigger sizes. Nothing magical. Good prop trader with tons of buying power bang out six figure days regularly. Not every day but on good volatility days. Sure, no problem.
     
    Last edited: Jun 9, 2020
    #100     Jun 9, 2020
    VicBee and beginner66 like this.