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Can Day Trading be profitable for retail?
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Created: by jefforey Attachments:6

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View Poll Results: Can Day Trading be profitable, consistently, for retail traders
Yes 72 72.00%
No 13 13.00%
Can't say 15 15.00%
Voters: 100. You may not vote on this poll

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Can Day Trading be profitable for retail?

  #11 (permalink)
edison new jersey
 
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Ok By Day-Trading I mean not more than 20 trades/Instrument a day. And all trades closed before market close.

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  #12 (permalink)
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jefforey View Post
I want to be proved wrong. I want to believe that day-trading could be a bread-winner profession. Haven't seen any evidence that would suggest that but if you have then please share it here.

I would suggest you to do a proper research here in this forum.


jefforey View Post
Also, I want to know if brokerages such Goldman Sachs pay commission, exchange fees on their prop trades?

Of course not they are The House.


Last edited by mrphr; January 22nd, 2018 at 11:27 AM.
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  #13 (permalink)
Bridgeport, Ct
 
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TheShrike's Avatar
 
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20 is a lot


How about 1 or 2 trades a day max - maybe none? You can't get blood from a stone. Good trading opportunities don't show up 20 times a day. You can't force the market to pay you money by trading it more. It just doesn't work like that.

Stop worrying about what Goldman Sachs is paying in trade fees. It has no bearing on what you're trying to accomplish and they are not a broker like say Interactive Brokers, they're a multi-national investment bank and financial services company. They play by a different set of rules.

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  #14 (permalink)
edison new jersey
 
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mrphr View Post
Of course not they are The House.

So they don't pay any exchange fees either? Following is what retail pays:
Exchane fee : $1.18
NFA: $0.02
Commission to broker: $0.74
Total Per Side/Contract : $1.94
Round-Trip/Contract : $1.94 * 2 = $3.88


Last edited by jefforey; January 22nd, 2018 at 11:40 AM.
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  #15 (permalink)
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jefforey View Post
Ok By Day-Trading I mean not more than 20 trades/Instrument a day. And all trades closed before market close.

It sounds like you want to scalp, again it depends on a lots of factors; Is it possible? As I said maybe.

Honestly in your case [and I do not want to discourage you] that does not have much understanding of the markets yet, scalping wont be profitable, but you can keep trying.


Last edited by mrphr; January 22nd, 2018 at 11:42 AM.
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  #16 (permalink)
edison new jersey
 
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mrphr View Post
It sounds like you want to scalp, again it depends on a lots of factors; Is it possible? As I said maybe.

Honestly in your case [and I do not want to discourage you] that does not have much understanding of the markets yet, scalping wont be profitable, but you can try.

I have tried many strategies some just having one trade per day to as many as 20 trades per day. I have tried trailing stoploss types and profit target types but all of them fail to return consistently. There are 2 or 3 great months but rest of the months give away the gains. But the caveat is that if the same strategy is run by Goldman Sachs then it will be immensely profitable. And this very fact raises my doubt. Is retail day-trading a myth created by Goldman Sachs and others to create liquidity for their own trades. After all even they need a counterparty.

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  #17 (permalink)
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jefforey View Post
So they don't pay any exchange fees either? Following is what retail pays:
Exchane fee : $1.18
NFA: $0.02
Commission to broker: $0.74
Total Per Side/Contract : $1.94
Round-Trip/Contract : $1.94 * 2 = $3.88

Either you are being sarcastic or being naive.

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  #18 (permalink)
edison new jersey
 
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mrphr View Post
Either you are being sarcastic or being naive.

nah, these rates are the prevailing rates. https://eminifuturesbroker.com/commissions/

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  #19 (permalink)
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jefforey View Post
nah, these rates are the prevailing rates. https://eminifuturesbroker.com/commissions/

Sure, good luck.

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  #20 (permalink)
edison new jersey
 
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mrphr View Post
Sure, good luck.

Why, what is so unrealistic about those rates. I think it is common knowledge.

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