Quote:
Originally Posted by Inspired
Trading in general is gambling in some ways. You can lose just as much money swing trading or long term investing.
If you are able to use technical analysis on the daily chart, there is no difference with technical analysis on the 15 minute, 5 minute, 2 minute chart.
Full time trading in general has a low success rate. Whether it is swing trading or day trading. Most successful traders are the traders that buy and hold long term and don't rely on trading as a income. With that said, most full time traders know that day trading is where all the money is at.
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Sure, it's gambling. However, there is a big difference between a slot machine and poker. You can have a hot streak at the slots and win some big money, but ultimately, the odds are heavily against you. You can lose with the best hand at poker, but over time, you will come out ahead.
And I'm not talking about any minute or even day change. I'm talking about general market cycles and fluctuations over several months,.
Again, if you can do it, then you're a better man than me, but only 1 in 10 people makes money day trading. Right now, it's extremely easy with the market doing so well and with as much short term volatility as we've realized.
Quote:
Originally Posted by Hisam135i
Ever heard of financial mathematics? If you know your probabilities, is it still luck?
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There's no such thing as luck, but if you have a 49.999% or less probability of coming out ahead and you manage to do so, you've essentially beaten the odds.
History has shown that the S&P has averaged about 12-13% over the past 30 years. Again, the average day trader has an 80% chance of losing money and failing in their first year. I'm a numbers guy so those are pretty big points with me.
Can you make money day trading? Absolutely. Do most people make money? No.
And sorry Grubba, but you're on my ignore list. It's probably for the best.