Quote:
Originally Posted by GrobbGangsta
[You must be logged in to view images. Log in or Register.]
Actively rooting for your demise and pointing out the inherent weakness(es) of day trading are two different things. Nobody has ever created a model that beats the system, and nobody ever will. Back when people thought this was possible (late 80's early 90s) there was a massive push on the street to hire quants from MIT who could develop such a model. Tons of money was invested. It never happened. The only way to consistently beat the market is to have legal inside information.
|
I belong to a whole private community of daytraders who keep logs and screens of every trade posted to private forums, there are about 60 of us in this particular forum, and of the 60 I'd say at least half trade as reliably as I have been, for much longer than I have.
Every one of us constantly evolves our process, and the groupthink we've employed to solve problems going forward has been very successful. This group is international but I'm also part of a local investment group which has 2 other day traders I am in contact with almost daily.
I really think you are just coming from a whole different school of thought on this, perhaps much more fundamental, perhaps more long term with your investing, the way you talk I don't think you've done the research I have, on making a living by scalping.
Minimizing loss and maximizing gain is the name of the game for most of us, no trades ever lose more than 2% of the account, and all successful trades are allowed to ride with trailing stops.
I'm sorry you don't believe this can work but it has, for many. It's more about the discipline than the system, if you aren't chasing, and don't trade emotionally, it can be done, but 90% fail at the discipline.