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Day traders
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Day traders

  #1 (permalink)
Trading Apprentice
New York city. New York. USA
 
Futures Experience: None
Platform: None
Favorite Futures: Stocks
 
Posts: 1 since Feb 2012
Thanks: 0 given, 0 received

Day traders

Can someone explain why so many people lose their money day tradin if SEC requires 25k account min. Do they turn to swing trading after they can't meet minimum?

Thanks

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  #2 (permalink)
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  #3 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
DionysusToast's Avatar
 
Posts: 2,670 since Nov 2010
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Jarbes View Post
Can someone explain why so many people lose their money day tradin if SEC requires 25k account min. Do they turn to swing trading after they can't meet minimum?

Thanks

Bcoz they have less than 25k....

So they go & trade futures, which are much riskier but where the SEC doesn't require you to have $25,000 or even $2,500...

It's madness really.

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  #4 (permalink)
Curtis
Hershey PA
 
Futures Experience: Intermediate
Platform: E signal
Broker/Data: AMP CQG
Favorite Futures: YM
 
CRM5096's Avatar
 
Posts: 116 since Jun 2011
Thanks: 55 given, 36 received

kinda like survival of the fittest
less than 25k and you are almost forced into futures because of day trade rules and overnite marjin
with less than 25k most of the time you need to hold trades over nite , the 3 trade rules can cause you to take on more risk

the day trade rules , causes you to get smart or get eatin

Nothing so Impressive as Simplicity
D.G. Watts
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  #5 (permalink)
Elite Member
Houston,Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: TF
 
ThatManFromTexas's Avatar
 
Posts: 2,302 since Feb 2010
Thanks: 1,208 given, 4,293 received


Jarbes View Post
Can someone explain why so many people lose their money day tradin if SEC requires 25k account min. Do they turn to swing trading after they can't meet minimum?

Thanks

1. Many are called, few are chosen. A few can ... many can't.

2. Once they lose most of their account, they switch to Futures with a $5k minimum to open an account.

3. When they lose most of that account, they open an account with a Forex dealer and trade micro lots.

4. When they lose that account, they switch to trading SIM, start a Trading Journal, expound upon the genius of their trading philosophy into perpetuity , post all their "Wins" and generate smirks,snickers,derision and raised eyebrows from experienced traders.

5. Once they get banned from their trading board, they open a Trading room, sell a training course and offer their "proprietary indicators" that they copied from the Elite Section of futures.io (formerly BMT).

And there you have it....

I'm just a simple man trading a simple plan.

My daddy always said, "Every day above ground is a good day!"
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  #6 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
DionysusToast's Avatar
 
Posts: 2,670 since Nov 2010
Thanks: 776 given, 8,727 received
Forum Reputation: Legendary

LMAO!

Good analysis there TMFT.

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  #7 (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

Lol! Reminded me of this page of comments on youtube.

YouTube - Broadcast Yourself.

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  #8 (permalink)
Trading Apprentice
Seattle, WA
 
Futures Experience: Beginner
Platform: StreetSmart
Favorite Futures: Stocks
 
Posts: 1 since Feb 2012
Thanks: 0 given, 0 received

Overnights

I think most 'day traders' fail because they don't cut their losses early enough or they take positions overnight (hoping that the situation will improve and it the loss gets bigger and bigger).

If you trade 500 or 1000 shares, losses can add up quick.

Kate

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  #9 (permalink)
Curtis
Hershey PA
 
Futures Experience: Intermediate
Platform: E signal
Broker/Data: AMP CQG
Favorite Futures: YM
 
CRM5096's Avatar
 
Posts: 116 since Jun 2011
Thanks: 55 given, 36 received

traders die from lack of knowledge and understanding and aplication there of

trade guro's wanting to sell you something thrive from a lack of knowledge gained by Iron sharpening Iron , Trader sharpening Trader

check out the thread below



https://futures.io/psychology-money-management/1415-big-mikes-day-trading-method-advice.html

Nothing so Impressive as Simplicity
D.G. Watts
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  #10 (permalink)
Market Wizard
Bangkok
 
Futures Experience: Intermediate
Platform: MultiCharts.NET, S5, Ninj
Broker/Data: AMP, S5, IB
Favorite Futures: ES
 
DionysusToast's Avatar
 
Posts: 2,670 since Nov 2010
Thanks: 776 given, 8,727 received
Forum Reputation: Legendary



CRM5096 View Post
traders die from lack of knowledge and understanding and aplication there of

trade guro's wanting to sell you something thrive from a lack of knowledge gained by Iron sharpening Iron , Trader sharpening Trader

check out the thread below



https://futures.io/psychology-money-management/1415-big-mikes-day-trading-method-advice.html

You quote Big Mike - what makes you think he is a profitable trader?

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