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Can Day Trading be profitable for retail?

  #38 (permalink)

Market Wizard
Missoula, MT
 
Trading Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader
Favorite Futures: CL, ES
 
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jefforey View Post
I agree that there is no incentive. I am just looking for some evidence. Not here to offend anyone. One way would be to post backtesting results done using tick data, I guess.


I am a discretionary trader. I trader support/resistance, and take short-term trades at well-known areas such as the D-High, Y-low, VWAP, the daily opening price, etc. I expect short-terms reactions at those places, and my trades are successful at about an 80% rate. I have short targets, tight stops, and trade 3-5 contracts per trade, in general.

You can not back test what I do, as it is not a system based on indicators providing some sort of signal to trade. I have observed the market for thousands of hours and I "know" that certain markets will react at certain levels by any overwhelming percentage. So, I take the trades when I "feel" like the level I'm looking at will provoke the reaction.

I have a goal of making four figures a day, and succeed on most days. I have been profitable for several years, and lose at a rate of less than one day per month. What I do seems very simple to me. I take trades at places on the chart. I know where my markets are in terms of the day, week and month, but my trades are all based on the moment. But I don't speculate often about the reasons the market moves like it does, and I don't pay attention to volume, order flow, etc.

I ran an active thread on FIO for quite a while, and detailed my trading journey. You can read it at The Scalper's Journey.

I trade with a small group of traders every day, and I can assure that our small handful of traders is profitable. We do not all share the same approach, but we make money. You can too, but you have to put in the time. It's not easy. But the problem is not commissions, brokers, others in the market, etc. If you are not making money in the market, the problem is you. Only you can fix that problem.

Good luck,

Michael

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