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How many day traders are profitable?


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How many day traders are profitable?

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  #21 (permalink)
 matthew28 
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Amstaff View Post
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.

Agree with all that, basically be careful in the trading world of taking people at face value, and you have written it a few times already, but the question above by Deaddog was "If you were to mentor someone what advise would you give them?"
You say you weren't profitable day trading, but are swing trading, so as Bob said, perhaps you could expand on why you think that has been, what you have learnt swing trading and any suggestions based on your experiences that you are happy to pass on here.
That would be good to read and be helpful to people.

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

Hi Matthew, the advice I am giving is to be careful of others and if you find someone who you think is reputable make sure they can do what they say with their real money in their real account.
As for specific trading. Trade your personality whether you are a day, swing or trend trader find what works best for you. As for swing specific, I have to laugh sometimes how much fundamental data works. People donít want to think either that or business wants everything like clockwork with little regard for people I might add. For example, hogs have a life cycle of 18 months born, grow and slaughtered and in that 18 months the cost of raising them is influenced by their feed, weather and insurance. With this in mind the commodity market is the only place where a businessman brings their product to market without knowing the price!! What are you pay for hogs? $2. I canít afford that. Tough! So the producer must be able to guarantee that he will be able to lock in a certain price through timing. Just another note. The God given markets or natural markets is where wealth is created. Corn is planted, harvested and sold for money. The man made or abstract markets have no need other than the need generated by man. Wealth is exchanged.

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  #23 (permalink)
 deaddog 
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Amstaff View Post
As for specific trading. Trade your personality whether you are a day, swing or trend trader find what works best for you.

What does that mean? How do you trade your personality? Can you give me an example?


Quoting 
As for swing specific, I have to laugh sometimes how much fundamental data works.

Are you laughing because it works for you or agaisnt you? Again an example would help.


Quoting 
People donít want to think either that or business wants everything like clockwork with little regard for people I might add. For example, hogs have a life cycle of 18 months born, grow and slaughtered and in that 18 months the cost of raising them is influenced by their feed, weather and insurance. With this in mind the commodity market is the only place where a businessman brings their product to market without knowing the price!! What are you pay for hogs? $2. I canít afford that. Tough! So the producer must be able to guarantee that he will be able to lock in a certain price through timing. Just another note. The God given markets or natural markets is where wealth is created. Corn is planted, harvested and sold for money. The man made or abstract markets have no need other than the need generated by man. Wealth is exchanged.

You are rambling and making very little sense.

What would be helpful is if you could explain what your mentor did to turn your trading around.

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  #24 (permalink)
 58LesPaul 
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Seems like he doesnít want to actually talk about his trading for some reason!


Sent using the futures.io mobile app

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

I was replying to Matthew, not sure you realized that. Why would you critique an answer to a question that wasnít asked by you? Iím really not sure why you would do that. Especially when the final remark is a judgment. How do you hold yourself to judge an answer that you didnít ask? If the receiver doesnít get the answer I will try to make it clear for that person. Understand we are not conversing face to face and if thereís a need for clarity it belongs to the people in that conversation.

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  #26 (permalink)
 chipwitch 
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Amstaff View Post
I was replying to Matthew, not sure you realized that. Why would you critique an answer to a question that wasnít asked by you? Iím really not sure why you would do that. Especially when the final remark is a judgment. How do you hold yourself to judge an answer that you didnít ask? If the receiver doesnít get the answer I will try to make it clear for that person. Understand we are not conversing face to face and if thereís a need for clarity it belongs to the people in that conversation.

Anything stated in a public forum is subject to public scrutiny. If I made a false claim to someone, do you think you'd have no right to call me out on it?

I think it is fair that people ask you about specifics (again, in a public forum) whether you address them directly or not. Besides, since you never actually address to whom you are directing your answers, how are we supposed to know? Try quoting or actually @chipwitch (for example) so we know who you are addressing. Using the @ symbol before their name actually sends them an email to let the member know that someone has addressed them directly.

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  #27 (permalink)
 chipwitch 
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Is it just me or is anyone else get the feeling this a Turing test?

Maybe it isn't but it sure makes me wonder.

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  #28 (permalink)
 bobwest 
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Amstaff View Post
I was replying to Matthew, not sure you realized that. Why would you critique an answer to a question that wasnít asked by you? Iím really not sure why you would do that. Especially when the final remark is a judgment. How do you hold yourself to judge an answer that you didnít ask? If the receiver doesnít get the answer I will try to make it clear for that person. Understand we are not conversing face to face and if thereís a need for clarity it belongs to the people in that conversation.

@Amstaff, if you want to make it clear whom you are answering, you should use the "Quote" button, as I just did, to quote the post you are responding to. You can also use their username, preceded by the "@" sign, as I just did with your name.

It is easy enough to avoid those misunderstandings if you make the effort to be clear.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #29 (permalink)
 bobwest 
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chipwitch View Post
Is it just me or is anyone else get the feeling this a Turing test?

Maybe it isn't but it sure makes me wonder.

For those not familiar with the idea, a "Turing test" is a conversation where one of the participants is a machine, and the test is whether anyone can tell that it is or not.

I doubt it, but it is not a completely irrelevant question.

@Amstaff, the question was asked because, in over three pages of this thread now, you have not once replied in any meaningful way to any of the questions asked of you, and have not engaged in the conversation except by repetition. People keep trying to get you to respond in some way that is relevant to the concerns of traders, but get no answers.

If you do have something to contribute, please take the opportunity to do so now. There have been plenty of topics that people have tried to address -- you could just pick one, or add whatever else you wish to say.

At this point, things have just gone around in circles, and this thread is soaking up people's attention with no discernible outcome.

If you are unwilling to respond meaningfully, this thread will simply be closed so people can move on.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #30 (permalink)
 Amstaff 
Queens, New York United States
 
 
Posts: 22 since Nov 2017



bobwest View Post
@Amstaff, if you want to make it clear whom you are answering, you should use the "Quote" button, as I just did, to quote the post you are responding to. You can also use their username, preceded by the "@" sign, as I just did with your name.

It is easy enough to avoid those misunderstandings if you make the effort to be clear.

Bob.

Thanks Bob, I thought hi Matthew, was adequate apologies. Iím not familiar with the protocols here, yet.

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