Hard conclusions from research studies re: daytrading. - Psychology and Money Management | futures io social day trading
futures io futures trading


Hard conclusions from research studies re: daytrading.
Updated: Views / Replies:1,739 / 15
Created: by Cloudy Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Hard conclusions from research studies re: daytrading.

  #11 (permalink)
Trading for Fun
Geelong Victoria
 
Futures Experience: Advanced
Platform: Dealbook 360/ Trader Workstation
Broker/Data: I-Deal, Interactive Brokers
Favorite Futures: Index Futures & Options
 
Posts: 113 since Jan 2015
Thanks: 45 given, 88 received


sledmt View Post
Although sticking with a strategy at all times is probably easier said than done, would that not fix a lot of problems. Find the strategies that work and stick to them.

As a young man I was a smoker, 30 yrs later at times when I catch a wiff of someones cigarette smoke I can be transported back to then and feel the strong addiction kick in. Addictions have a physical and an emotional element. The physical is not a problem for most people, they can find a way to remove the risk. The emotional on the other hand is an insidious thing, that we carry with us always, it becomes an integeral part of us, it is amazing how easily we can trick ourselves into feeding the addiction. Generally we operate in most things automatically,such as when driving a car, but we also do this in virtually every area of our life to some degree, we just don't pay attention to it otherwise we would be bogged down with detail. The key to managing this is to be found within ourselves and starts when we truly understand ourselves. Manage being the operative word, a very difficult thing to recognize and understand. So no I don't think a set of rules will fix the problem.
Cheers John

Reply With Quote
The following 2 users say Thank You to Johno1 for this post:
 
  #12 (permalink)
Membership Temporarily Revoked
Calgary Alberta/Canada
 
Futures Experience: Advanced
Platform: TDWaterhouse
Favorite Futures: stocks (long term)
 
Posts: 934 since Feb 2014
Thanks: 180 given, 777 received


NoiseTrader716 View Post
It is also interesting why people are so drawn to the shortest time frames possible.
Surely, it is intimately linked with being under capitalized. If you hold trades for weeks/months it is much more obvious that you are not going to be able to live of the compounding of a 100k account let alone less than that after transaction cost and the tax man gets his vigorish.

That is not even touching on how people love to pull the lever on the slot machine.


Rock Sexton View Post
Ya, in the majority of cases it is due to being under-capitalized. They simply have a much larger time opportunity cost and can't park their money. Some other reasons are:

1. They're lazy and don't want to do any top down analysis.
2. They're too scared to hold overnight.

I would tend to agree with both of you.

First of all I would like to thank @Cloudy for directing me to Tradefeed and Dr. Brett Steenbarger. I was unaware of his blog and like his logic and writing style very much.

One thing he does not outline is a breakdown of success from the $100-$500 all in day trader to the elite trade that makes up the top 1% that are consistently successful.

Also years of experience must come into play....he talks about 10 years of day trading to work your way up to elite status....that alone is a leveler as I have the feeling that this alone salts out the losers quicker than anything.

I don't day trade myself...I find it too stressful and takes up too much of my day. But in my experience on various stock chat rooms over the last 10 years, I have found most day traders lack technical skills to evaluate their positions and as a result get into trades that are almost exhausted their run or bail out of developing trades because they have made a 1-2% gain (before commissions).

They rely on "hot tips" from newsletters and don't understand these newsletters are released....not the night before (usually) but more often an hour or so after trading has started for the day (ie. after the people behind these newsletters have placed their bets and are looking for the interest their newsletter generates to drive up the price... AND they know when to get out.)

Do I believe daytraders can be successful? Yes I do... but the skills required are huge... the biggest one is finding good opportunity and timing its entry.... and it is not by following newsletters. Don't ask me how that is done (the identifying part)...I am sure the elite 1% don't subscribe to newsletters. Thereafter one must develop TA skills to plan your entry/exit.

Fundamental skills are of little consequence.... though perhaps they can be used to identify opportunity... eg. searching for companies with a major event upcoming... perhaps FDA approval on a drug, pending merger etc

Yes thanks Cloudy...this is an interesting blog and perhaps he deals with long term trading as well and I love his quotation accents. Especially this one which I suppose is attributed to George Carlin

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Sooooo true......

Reply With Quote
The following 4 users say Thank You to Underexposed for this post:
 
  #13 (permalink)
Trading for Fun
Geelong Victoria
 
Futures Experience: Advanced
Platform: Dealbook 360/ Trader Workstation
Broker/Data: I-Deal, Interactive Brokers
Favorite Futures: Index Futures & Options
 
Posts: 113 since Jan 2015
Thanks: 45 given, 88 received



Underexposed View Post
I would tend to agree with both of you.

First of all I would like to thank @Cloudy for directing me to Tradefeed and Dr. Brett Steenbarger. I was unaware of his blog and like his logic and writing style very much.

One thing he does not outline is a breakdown of success from the $100-$500 all in day trader to the elite trade that makes up the top 1% that are consistently successful.

Also years of experience must come into play....he talks about 10 years of day trading to work your way up to elite status....that alone is a leveler as I have the feeling that this alone salts out the losers quicker than anything.

I don't day trade myself...I find it too stressful and takes up too much of my day. But in my experience on various stock chat rooms over the last 10 years, I have found most day traders lack technical skills to evaluate their positions and as a result get into trades that are almost exhausted their run or bail out of developing trades because they have made a 1-2% gain (before commissions).

They rely on "hot tips" from newsletters and don't understand these newsletters are released....not the night before (usually) but more often an hour or so after trading has started for the day (ie. after the people behind these newsletters have placed their bets and are looking for the interest their newsletter generates to drive up the price... AND they know when to get out.)

Do I believe daytraders can be successful? Yes I do... but the skills required are huge... the biggest one is finding good opportunity and timing its entry.... and it is not by following newsletters. Don't ask me how that is done (the identifying part)...I am sure the elite 1% don't subscribe to newsletters. Thereafter one must develop TA skills to plan your entry/exit.

Fundamental skills are of little consequence.... though perhaps they can be used to identify opportunity... eg. searching for companies with a major event upcoming... perhaps FDA approval on a drug, pending merger etc

Yes thanks Cloudy...this is an interesting blog and perhaps he deals with long term trading as well and I love his quotation accents. Especially this one which I suppose is attributed to George Carlin

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Sooooo true......

And yet probably 95% of people believe that they are in the smarter half of the population.lol
Cheers John

Reply With Quote
The following user says Thank You to Johno1 for this post:
 
  #14 (permalink)
Elite Member
desert CA
 
Futures Experience: Intermediate
Platform: NT7, TOS
Broker/Data: AMP/wCQG, TDA
Favorite Futures: CL,YM
 
Posts: 2,027 since Jul 2011
Thanks: 2,211 given, 1,551 received


Underexposed View Post

Yes thanks Cloudy...this is an interesting blog and perhaps he deals with long term trading as well and I love his quotation accents. Especially this one which I suppose is attributed to George Carlin

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Sooooo true......


Your welcome Underexposed. I learned of Dr. Steenbarger from a futures.io (formerly BMT) webinar. I don't really follow his blog or subscribe to his organization's services, but I liked his articles on research of actual trader success as there is very little stats done or proved in this wild west business of retail trading. I also enjoy following your stock trading journals, thanks. And thank you for sharing some of your stock fundamentals experience. I am still very novice at swing and short term trading of stocks.

Reply With Quote
The following user says Thank You to Cloudy for this post:
 
  #15 (permalink)
Membership Temporarily Revoked
Calgary Alberta/Canada
 
Futures Experience: Advanced
Platform: TDWaterhouse
Favorite Futures: stocks (long term)
 
Posts: 934 since Feb 2014
Thanks: 180 given, 777 received


Cloudy View Post
Your welcome Underexposed. I learned of Dr. Steenbarger from a futures.io (formerly BMT) webinar. I don't really follow his blog or subscribe to his organization's services, but I liked his articles on research of actual trader success as there is very little stats done or proved in this wild west business of retail trading. I also enjoy following your stock trading journals, thanks. And thank you for sharing some of your stock fundamentals experience. I am still very novice at swing and short term trading of stocks.

Well we learn off each other, that is the point of this site, isn't it?

Reply With Quote
The following user says Thank You to Underexposed for this post:
 
  #16 (permalink)
Trading for Fun
Geelong Victoria
 
Futures Experience: Advanced
Platform: Dealbook 360/ Trader Workstation
Broker/Data: I-Deal, Interactive Brokers
Favorite Futures: Index Futures & Options
 
Posts: 113 since Jan 2015
Thanks: 45 given, 88 received


Underexposed View Post
Well we learn off each other, that is the point of this site, isn't it?

Exactly, everyone has something to contribute and everyone has something to learn, no matter how knowlgeable they may already be.
Cheers John

Reply With Quote

Reply



futures io > > > Hard conclusions from research studies re: daytrading.

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
ThinkScript studies c0ol2 ThinkOrSwim 5 April 8th, 2014 01:50 PM
How to save data, drawings, studies etc. Werd ThinkOrSwim 9 March 11th, 2014 12:53 AM
User defined studies on watchlist cfb4ever ThinkOrSwim 0 February 16th, 2014 08:56 PM
Rick Santelli: "GDP Numbers Are Depressing" Victory Trader News and Current Events 1 September 28th, 2012 08:57 PM
Plotting studies on studies revbones ThinkOrSwim 1 March 12th, 2012 03:04 AM


All times are GMT -4. The time now is 05:39 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-15 in 0.17 seconds with 19 queries on phoenix via your IP 54.145.16.43