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Can Day Trading be profitable for retail?

  #56 (permalink)

Market Wizard
Missoula, MT
Trading Experience: Advanced
Platform: NinjaTrader
Broker/Data: NinjaTrader
Favorite Futures: CL, ES
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Posts: 3,396 since Nov 2012
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Seahn View Post
I trade in practically the same style as Michael. Basically I trade harmonic rotations around S/R, High, Low, VWAP, previous OHLC, 20 EMA, 800 EMA etc. I also have easily reached daily profit targets which with the exception of occasional debacles I achieve practically daily. The daily targets allow me to have a very smooth equity curve at the sacrifice of greater profits which is fine with me because I rather trade a few hours a day and be done instead of staring at a computer monitor for 6 hours a day. My "expenses" commission etc. " run about 3% of profits

My point is that with a relatively simple strategy, no profiling, no DOM, just some lines on a chart (which did take about 5 years of following the market tick by tick to master) I am able to be consistently profitable strictly day trading.

I just can't wrap my head around the appeal of retail HFT with co-location, exchange seats, 3000 trades a day (I average 5). There are so many simpler ways to make money trading. I guess the promise of automated riches is it.

Well done, @Seahn, great to hear about your success! To the chap who started this thread, the fact that some of us do not post backtested results does not mean we don't make money. My trading can't really be backtested, as each trading decision I make is never based solely on a line(D-high, for instance)/vwap/support-resistance. I'm looking at the larger context, gauging the speed of the current move and also watching for pattern behavior I've learned to recognize over years of observation.

The discussions about backtested results -- and the penchant for believing them over the honest, straightfoward words of folks who actually make a living daytrading -- strike me as so many angels on the head of a pin. Indeed, they sound like echoes in the dark world of someone who finds that his own failings must be mimicked by others. I'd spend less time challenging others about whether they make money and more time watching the market of your choice in hopes of becoming profitable like some of us here who've sinned only by trying to help others. It's hard work, and dissing others who've been successful is a serious waste of time


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