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How many day traders are profitable?


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How many day traders are profitable?

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


bobwest View Post
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.

In all sincerity Iím not sure what it is then that youíre asking. I was asked by Matthew and answered Matthew what I would advise someone if I was a mentor and I replied with specificities and an example of how the futures market works and what to look for with how the largest player in the futures market (the producers) think.
Do you want a real life example? During the pandemic crude oil was selling at about $32 per barrel. I didnít realize it at first; however when CNBC announced crude oil is at zero it dawned on me that this is about what the cost to get it out of the ground. I knew producers at this point it canít sell below cost and I went long one contract. Sure enough CL went up. I didnít get the low but I was profitable on that trade.
Furthermore as for being a machine I tried using different verbiage from other posts.

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


chipwitch View Post
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.

Thanks Chipwitch for the process, I will quote. I honestly thought it was a bit rude but when in Rome. I thought Hi Matthew was fine. If nobody is offended Iíll quote. No problem.

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  #33 (permalink)
 bobwest 
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Amstaff View Post
In all sincerity Iím not sure what it is then that youíre asking. I was asked by Matthew and answered Matthew what I would advise someone if I was a mentor and I replied with specificities and an example of how the futures market works and what to look for with how the largest player in the futures market (the producers) think.
Do you want a real life example? During the pandemic crude oil was selling at about $32 per barrel. I didnít realize it at first; however when CNBC announced crude oil is at zero it dawned on me that this is about what the cost to get it out of the ground. I knew producers at this point it canít sell below cost and I went long one contract. Sure enough CL went up. I didnít get the low but I was profitable on that trade.
Furthermore as for being a machine I tried using different verbiage from other posts.

Fair enough. I don't want to pressure you to respond in a way that is not natural to you or to talk about your trading in any way that you don't want to or to meet anyone else's expectations.

It's just that, in framing the initial question as you did, it seemed that you wanted to talk about the profitability of day traders, and perhaps compare it to what is available to swing trading, or something like that. I think people were looking for some such discussion.

For instance, you wrote "Furthermore every serious trader knows that time is the only factor of profit." That's hard to understand.... what does it mean, exactly? If it means that short-term trading is not profitable, well, it can be. If it means that swing trading is more profitable, well, please explain that. But I'm a serious trader, or I think of myself that way, and I have no clue what you meant.

I apologize for knocking what you were saying and how you were saying it, I just wanted you to explain things a little.

But however you want to do it is fine.

Bob.

---------------------

PS, not a criticism, just a suggestion.... Do you notice how difficult it is to read and follow the compressed one-paragraph posts you make? If you break them up by hitting the Enter key twice when you want to leave a space between your thoughts, it is much, much easier to read. The only way that I can get away with writing the long, drawn-out wordy posts I write is to break them up into smaller chunks that aren't so hard to digest. Just a friendly suggestion.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #34 (permalink)
 chipwitch 
Nashville, TN
 
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Amstaff View Post
Thanks Chipwitch for the process, I will quote. I honestly thought it was a bit rude but when in Rome. I thought Hi Matthew was fine. If nobody is offended Iíll quote. No problem.

I'm sorry if I came off rude. I value my time and can be very direct in what I type. I don't have time for wild claims or cute games. While one post you did indeed directly addressed Mathew, it does not negate the fact that what is said in a public space is subject to comment from the public. Also, there are at least a half dozen of your posts that do not seem to answer any particular question, address anyone in particular and in all honesty, hard to decipher. Maybe English isn't your primary language? That could explain much of the miscommunication. I'm sure I speak for everyone, if language is an issue, tell us and we will certainly be more patient.

But seriously. I'm rather new to trading. And I haven't seen anything you've said that offered me anything useful. I already know to beware of people. Being from Queens, I would expect you to be a difficult mark for a con. I don't much appreciate people telling me what I should do, well-meaning or not. I want examples. SHOW me why something might be in my best interest and I will decide whether or not I should do it. Saying "serious traders know" implies that if we don't agree with you then we aren't serious traders. I assure you... there are LOTS of serious traders here.

Perhaps, start off by re-titling the thread. "How many day traders are profitable?" Maybe you mean to address newbies. Something like, "Advice I wish I had been given when I was just starting in trading." Otherwise, your title seems to be asking for responses from profitable traders. Not exactly your intended audience I presume.

Let me ask you... how much money EACH MONTH have you averaged earning from trading? Are YOU willing to show us your brokerage account statements? Are you willing to submit to an audit?

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  #35 (permalink)
 bobwest 
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@Amstaff, you meant well, but I think it is much better not to post your statements publicly, even with the identifying information removed.

This is just too public a place for that to be done, at least without giving it some thought. You would be displaying information essentially for anyone in the world to see. I would think about that.

My opinion, at least.

Bob.

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


chipwitch View Post
I'm sorry if I came off rude. I value my time and can be very direct in what I type. I don't have time for wild claims or cute games. While one post you did indeed directly addressed Mathew, it does not negate the fact that what is said in a public space is subject to comment from the public. Also, there are at least a half dozen of your posts that do not seem to answer any particular question, address anyone in particular and in all honesty, hard to decipher. Maybe English isn't your primary language? That could explain much of the miscommunication. I'm sure I speak for everyone, if language is an issue, tell us and we will certainly be more patient.

But seriously. I'm rather new to trading. And I haven't seen anything you've said that offered me anything useful. I already know to beware of people. Being from Queens, I would expect you to be a difficult mark for a con. I don't much appreciate people telling me what I should do, well-meaning or not. I want examples. SHOW me why something might be in my best interest and I will decide whether or not I should do it. Saying "serious traders know" implies that if we don't agree with you then we aren't serious traders. I assure you... there are LOTS of serious traders here.

Perhaps, start off by re-titling the thread. "How many day traders are profitable?" Maybe you mean to address newbies. Something like, "Advice I wish I had been given when I was just starting in trading." Otherwise, your title seems to be asking for responses from profitable traders. Not exactly your intended audience I presume.

Let me ask you... how much money EACH MONTH have you averaged earning from trading? Are YOU willing to show us your brokerage account statements? Are you willing to submit to an audit?

Chipwitch, Iím am not an advisor nor do I give advice and I never claimed to be any of that. To answer your question yes I am willing to privately share with you a brokerage account. I did actually post it here and I deleted it because there were numbers attached to the file and I wasnít sure what they were. Honestly I was a little frightened.

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


bobwest View Post
@Amstaff, you meant well, but I think it is much better not to post your statements publicly, even with the identifying information removed.

This is just too public a place for that to be done, at least without giving it some thought. You would be displaying information essentially for anyone in the world to see. I would think about that.

My opinion, at least.

Bob.

Thanks Bob,
I greatly appreciate your patience with me and some my posts in wrong places. Iím reading other posts to see exactly what is meant by relevant. Iím trying big guy.

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  #38 (permalink)
 bobwest 
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Amstaff View Post
Chipwitch, Iím am not an advisor nor do I give advice and I never claimed to be any of that. To answer your question yes I am willing to privately share with you a brokerage account. I did actually post it here and I deleted it because there were numbers attached to the file and I wasnít sure what they were. Honestly I was a little frightened.

Quite correctly.

I would add, that it is not necessarily wise to share copies of financial documents to anyone, anywhere, including the generally trustworthy people you meet here. Remember, you don't really know anyone you meet on a public forum.

It can be totally appropriate to discuss anything you like about your trading, and many people do show their trading results -- it's no big deal if you discuss your trades or something like that -- but I would not disclose much, if anything, about the larger picture, or your financial information.

Just a word to the wise.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #39 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
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chipwitch View Post
Perhaps, start off by re-titling the thread. "How many day traders are profitable?" Maybe you mean to address newbies. Something like, "Advice I wish I had been given when I was just starting in trading." Otherwise, your title seems to be asking for responses from profitable traders. Not exactly your intended audience I presume.

In fairness, I am responsible for the thread title. @Amstaff had made a post in an unrelated thread that was off-topic, and I moved it into its own thread (it was the first post of this thread), and made a title for the thread using a phrase he had used, that I thought would create some interest.

Well, it did .

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #40 (permalink)
 chipwitch 
Nashville, TN
 
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Amstaff View Post
Chipwitch, Iím am not an advisor nor do I give advice and I never claimed to be any of that. To answer your question yes I am willing to privately share with you a brokerage account. I did actually post it here and I deleted it because there were numbers attached to the file and I wasnít sure what they were. Honestly I was a little frightened.

It's okay. Like @bobwest said... you shouldn't be sharing statements with anyone on a forum... publicly or privately. That includes me! You were right to be frightened and take it down. That you were willing to share it is far more than almost anyone is willing to.

If you are a profitable trader... I am very happy for you. Keep up the good work.

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