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How many day traders are profitable?


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How many day traders are profitable?

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  #11 (permalink)
 Anagami 
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Amstaff View Post
Hostility is a sign of sexual frustration.

Thank you, Amfreud.

Either that, or enhanced sexual excitement.

You are never in the wrong place... but sometimes you are in the right place looking at things in the wrong way.
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  #12 (permalink)
 chipwitch 
Nashville, TN
 
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Anagami View Post
Thank you, Amfreud.

Either that, or enhanced sexual excitement.

... or just simply demand for rational discourse rather than unsubstantiated claims. I've seen nothing here that rises to the level of "hostility" as the OP has claimed. One would be right to question the discernment of one who sees hostility in this thread. Then again, I'm a little thicker skinned than most.

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  #13 (permalink)
 Amstaff 
Queens, New York United States
 
 
Posts: 22 since Nov 2017


Your response was exactly what I have seen in the numbers. Other comments claim that I had some inside information on statistics that are public knowledge.
My concern is the new trader. I remember, I was in a bad situation, I got hurt on the job, I looked at trading as a possible alternative and I was a victim of those types of schemes.
I never want anyone to know that worry or fear. My mentor taught me if someone is selling a product they should be willing to open up their trading account and show the record, next how many trading championships have they won and finally are they willing to trade live with real money.
New traders should be made aware that this market has unscrupulous people. A flight to quality is very valuable. People who support their family should be made aware that these things happen in this industry.

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  #14 (permalink)
 Amstaff 
Queens, New York United States
 
 
Posts: 22 since Nov 2017


DavidHP View Post
No ill will is meant by my comments but...
You obviously are one of the traders that are not profitable.

I've been here a long time and from time to time this questions arrises.
(if you doubt this, just type "Profitable" into the search box at the top right of the page.)

These questions always come from someone looking for the 'Holy Grail' or someone that wants to show how much they really don't know about trading.

Perhaps the question you should ask is... Are you profitable?

If the answer is what I suspect...
I want you to do these things:


LOL
Actually, those steps are nonsensical, they won't make you a better trader or a better person.

BTW, the reason I know you are not profitable is because you have been here since 2017 and are not an "Elite Member'.

If you truely want to excel in trading, that should be your first step, not the ones you asked others to do.

I originally joined in 2017. That week I went on vacation and returned to being kicked for no posts by Big Mike. I forgot about my account until I did a recent search.
Being in touch with the SEC as any trader knows is an email. I never said Iím having lunch with them or Iím friends with anyone there.
Lastly I was unprofitable until I got a mentor to teach me how to trade. Thatís the reason for the post. I was at a down point in life and extra vulnerable. I donít want anyone to have to go through what I did. When I see such things I confront them.
I did fail at day trading and have no issues admitting it. Iím successful at swing trading.

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  #15 (permalink)
 glennts 
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Amstaff View Post
Furthermore every serious trader knows that time is the only factor of profit.

Made my first trade in 1982. Been supporting my self exclusively from trading since 2005. So, assuming I qualify as a serious trader, I must confess I have no idea what this means.

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  #16 (permalink)
 bobwest 
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Amstaff View Post
Lastly I was unprofitable until I got a mentor to teach me how to trade. Thatís the reason for the post. I was at a down point in life and extra vulnerable. I donít want anyone to have to go through what I did. When I see such things I confront them.
I did fail at day trading and have no issues admitting it. Iím successful at swing trading.

You may have simply generalized too much from your own experience. It is true that trading is hard and that most traders of any sort don't make it. This applies to swing traders, by the way.

Some do and some don't. Congratulations if you have found something that works for you. It may not be the only thing that can work for anyone.

This is a forum of people who share and who want to learn and to support others. It works out much better that way. I do not doubt your intentions, but your post has mainly been polarizing -- arousing opposition, basically because you have said that your way works, and other ways don't. But everyone here, yourself included, has their own unique way of trading, or approaching trading, or learning trading, or often enough, having trouble and losing at trading. And also, in our different ways, we're all dealing with the same things, and there is a common ground that allows communication and exchange of ideas.

There's really nothing wrong with anything you've written, but it's essentially going nowhere. You say something like "you have to do x", and then someone says "no, I don't," and there is no value found in that interchange, because everything stops. Assertion and counter-assertion, then no place to go from there.

If you want to show some charts, discuss some trades, talk about either general or specific trading topics, or about the current markets, or about strategy or tactics, or anything else that adds to the conversation, that would be fine. That is what the forum is about and what excites interest and an exchange of ideas. If you just want to tell people they are wrong, well OK, you've done that. Now what else have you got to say?

I don't mean to be critical. But there will be a lot more interest in what you have to say if what you do is more contributory. If you want to go into the benefits of swing trading, or just how to do it, for instance, and can be more concrete, that could be a contribution. Or in any other way get into talking about trading as you see it, not spend time telling others they are wrong with how they see it. You might even help someone.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #17 (permalink)
 deaddog 
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Amstaff View Post
Lastly I was unprofitable until I got a mentor to teach me how to trade. Thatís the reason for the post. I was at a down point in life and extra vulnerable. I donít want anyone to have to go through what I did. When I see such things I confront them.
I did fail at day trading and have no issues admitting it. Iím successful at swing trading.

You have mentioned a mentor a couple times. What is it that the mentor did that turned your trading around?

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
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  #18 (permalink)
 Amstaff 
Queens, New York United States
 
 
Posts: 22 since Nov 2017

It was. Itís not just my trading, Iím a retired blue collar working man, I still keep in touch with him. Through him I was introduced to what gold standard is. I met quality people. Not meeting face to face but meeting through what they do all top shelf traders. If you ever wondered are they worth the price. I would say absolutely. Itís not just trading either, learning to trade and being profitable is only one facet of finance and truthfully itís about 10 miles wide but itís only 4 inches thick. Structuring a LLC and so many more things that go with trading as a business.
The sooner you learn it the easier it is on the mind. I worked while trading. That was the biggest mistake I ever made. I retired after over 30 years and I was a profitable trader but the mindset is different. I ran my pension numbers 100s of times and every time they worked and I still had panic attacks.
If you can trade and your born with; it teach someone. If youíre not born with it get a mentor. Itís not just trading itís a completely different mindset. Thatís what a mentor does. At least thatís my experience. Iím sure thereís some bad ones out there.
Make sure: you can see the account they trade with the brokerís statement.
Ask how many trading championships have they won?
Will you trade in real time in front of me?



ďMillionaires are the guardians of the poor.Ē Andrew Carnegie

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  #19 (permalink)
 deaddog 
Legendary Market Wizard
Prince George BC Canada
 
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Amstaff View Post
It was. Itís not just my trading, Iím a retired blue collar working man, I still keep in touch with him. Through him I was introduced to what gold standard is. I met quality people. Not meeting face to face but meeting through what they do all top shelf traders. If you ever wondered are they worth the price. I would say absolutely. Itís not just trading either, learning to trade and being profitable is only one facet of finance and truthfully itís about 10 miles wide but itís only 4 inches thick. Structuring a LLC and so many more things that go with trading as a business.
The sooner you learn it the easier it is on the mind. I worked while trading. That was the biggest mistake I ever made. I retired after over 30 years and I was a profitable trader but the mindset is different. I ran my pension numbers 100s of times and every time they worked and I still had panic attacks.
If you can trade and your born with; it teach someone. If youíre not born with it get a mentor. Itís not just trading itís a completely different mindset. Thatís what a mentor does. At least thatís my experience. Iím sure thereís some bad ones out there.
Make sure: you can see the account they trade with the brokerís statement.
Ask how many trading championships have they won?
Will you trade in real time in front of me?



ďMillionaires are the guardians of the poor.Ē Andrew Carnegie

I'm not looking for a mentor, although I wonder how things would have turned out if I had hooked up with one instead of being self taught.

I was curious as to what a mentor did to change you from a struggling to a sucessful trader?

If you were to mentor someone what advise would you give them? What should they always do and what should they never do?

"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
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  #20 (permalink)
 Amstaff 
Queens, New York United States
 
 
Posts: 22 since Nov 2017


If I were a mentor to someone. The most important thing I can share with you is that in this industry there are good people and unscrupulous people. Never believe someone on their word. Get verifiable proof, if something is a bit itís gone at midnight sale let it go, see if you get an email in the morning saying I would hate to see you miss out on this. Make sure whoever you get is an expert and can replicate results at any time.

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