so you guys all just day trade? Why not just gamble? 4/5 of day traders lose money
So you guys all just day trade? Why not just gamble? 4/5 of day traders lose money
Jonathan Watson
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Isaiah Lee
i do short term investing like 6 months, momentum surfing etc, have just a few longs
Grayson Thomas
I was a futures trader for a Chicago broker from 2011-2014 before going into personal finance at a credit union for better schedule and life balance.
There's no statistics that show 90% of day traders lose 90% of their money. All of those sayings are no different than you'll shoot your eye out kid or don't sit too close to the TV it'll hurt your eyesight sayings. The study that many people show when somebody says this is some study from the 90s when trading was completely different than it is now or a study with statistics only from a Korean futures exchange.
If you look at actual reports from brokerages, the success rate is more in the 40-60% range.
Gambling is fixed odds. You can never have an edge. Even in poker, I believe only 2 hands has a higher than 50% win rate. In trading financial instruments, your edge can be 0% or 100%. It all depends on your ethics. I know a guy that makes Around $15-18K a week trading oil futures and I know another guy that went through his life savings trying to day trade stocks. He could have been a millionaire if he just did the opposite of what his retarded brain thought. The oil guy has been trading since the 90s and has a plan that he always follows. It's "boring" to him. Where the Jewish retard I talk to on Skype only thinks emotionally and changes his strategy every 2 weeks because he read some new blog about an indicator and how to use it.
First thing is risk. How much are you willing to risk per trade. Every financial blog you read says 10% or 20%. They are retards. I personally recommend 1% of your capital. If that 1% is too small, then you don't have enough money to begin trading. I would say 2% tops. From there determine your reward. I would use at least a 1:2 risk reward.
Now look at an instrument and look at the swings in the market. If your risk in dollar amount isn't large enough to cover that swing, then you don't have enough money to trade it or should look at a smaller time frame with smaller swings.
Dominic Kelly
Who says they aren't gambling
Andrew Hill
I just buy ETFs and invest long term.
Ayden Howard
>There's no statistics that show 90% of day traders lose 90% of their money.
No one claimed any such thing. The statistic is that 90% of day traders fail to beat a simple market benchmark index. Stop putting up strawman arguments.
>The study that many people show
Why are you implying there's only one study when in fact there are dozens?
>some study from the 90s when trading was completely different
[citation missing] Trading is trading.
>Korean futures exchange.
Not only is this wrong, but its irrelevant. Unless you have an argument that stocks in Korea somehow trade differently than stocks in any other market?
>If you look at actual reports from brokerages, the success rate is more in the 40-60% range.
[citation missing] But sure, let's believe the brokerages very that have a financial stake in getting you to day trade, rather than the academics and researchers whose only interest is presenting accurate data.
You're a fucking moron.
Hunter Morales
If you're gonna role play, then at least pretend to be competent.
Surely you noticed that the majority of people don't even match the s&p and most probably significantly underperform after you took your fees into account.
Blake Cook
I'm a long-term dividend investor, not a day trader.
Juan Miller
>No one claimed any such thing. The statistic is that 90% of day traders fail to beat a simple market benchmark index. Stop putting up strawman arguments.
You've never heard of the 90/90/90 line being tossed around faggot? It's a pretty common (but wrong) stat, saying 90% of daytraders lose 90 percent of their account within 90 days
Nathaniel Perry
>You've never heard of the 90/90/90 line being tossed around
No, faggot, I haven't. Go ahead and post links to the sites that make this specific claim.
I'll be waiting.
Henry Davis
>The statistic is that 90% of day traders fail to beat a simple market benchmark index
[citation missing]
Brody Ramirez
Jaxson Davis
No one I guess. I came here to hopefully find long term stocks as a newbie passive investor. Got fooled at first with things like REXX and NVCN because I thought they were stocks that could grow over time that hit all time lows. Turns out all the robin hood threads are just trying to make a quick buck
Should've known better but still, don't see it worth the risk. I'm hoping to get out of NVCN and REXX and go back to quarterly goals
Connor Williams
>post links to the sites that make this specific claim
toohightoolo.wordpress.com
I know google is hard
Henry Walker
its not when you do it right!
Grayson Young
Do it right!
Zachary Evans
From 2004. That's like comparing the car industry from 1950 to today.
Colton Carter
What am I looking at exactly?
Christian Smith
A chat room of a demo trader
Michael Davis
>ask for citation
>get someone's personal blog
>not used or presented as factual statement
Congrats moron, you just fell for some more #fakenews.
Brayden Miller
>That's like comparing the car industry from 1950 to today.
[Citation missing.] Stock trading hasn't changed substantially in a hundred years. We use different technology to do the trading, but average market results have been consistent for decades.
If you're too dumb to tell the different between a financial market and an automobile, then you're a day trader.
Nathan Diaz
You're looking at actuall trades that took place this past thursday and monday. I'm in that room. All trades are anounced live on the mic and screenshare before entering a position and when exiting. Most people follow in and make $$$. Try to guess the market and follow "gurus" and stock tips and picks, and you are sure to lose your account. stocktradeideas.com
Tyler Cox
>All trades are anounced live on the mic and screenshare before entering a position and when exiting. Most people follow in and make $$$.
>Try to guess the market and follow "gurus" and stock tips and picks, and you are sure to lose your account.
These are literally the same thing. Why would anyone shill this bullshit?
>[link redacted] 3 day free trial
Oh, I see now. You make money recruiting gullible noobs. Fuck off, fag.
Anthony Hall
>ask for citation
No you didn't, you specifically said, "Go ahead and post links to the sites that make this specific claim." You fucking idiot. I posted a link to a site that made this specific claim, and guess what, he got it from somewhere else too which means that it's a ubiquitous claim. Here's an article from marketwatch that mentions the 90/90/90 rule too: marketwatch.com
>ask for citation
Both the OP and I stated that this rule is not an empirical fact, just an oft-cited saying within the trading sphere. Thus no actual study/citation exists which proves these numbers. Poor reading comprehension, sad. No wonder Veeky Forums is so good at losing money.
Grayson Torres
>I posted a link to a site that made this specific claim
No it doesn't. It discusses as a wife's tale and then proceeds into a short mathematical discussion. Sorry faggot, but 90/90/90 isn't a thing. Never was.
Back the facts anyway. The real statistic is that 90% of day traders fail to beat a simple market benchmark index. Like the other faggot, you're putting up strawman arguments because you can't refute these facts.
I've posted the true statistic.
I've posted the citations for the true statistic.
So stop posting about the muppets in a serious thread, you giant man baby.
/thread
Logan Fisher
Lol, proving you can't read. Go back and read the OPs posts fag. 90/90/90 is something that is discussed by all trading circles. Too bad you're not a trader, come back when you're ready to join the circle.
Jackson Ortiz
That you can't distinguish between the 90/90/90 myth and the 90% of day traders fail to beat a simple market benchmark index statistic tells me everything I need to know about you.
Enjoy your eternal poverty, kid.
Noah Jackson
>No one claimed any such thing.
A lot of people claim such a thing. My two articles proved that.
>The statistic is that 90% of day traders fail to beat a simple market benchmark index.
Talking about a completely different stat. 90/90/90 is something entirely different, failure on your part of reading comprehension.
>You've never heard of the 90/90/90 line being tossed around
>No, faggot, I haven't. Go ahead and post links to the sites that make this specific claim.
Never was arguing with you about a 90% benchmark, we were arguing if 90/90/90 was a thing that is discussed...it is, and entirely separate from your 90% benchmark. You're confused, and it's fucking hilarious. Enjoy being a wage cuck you fucking moron.
William Carter
>Talking about a completely different stat.
Wow, you finally figured this out? Welcome to 6 hours ago you fucking retard.
Lincoln Rivera
We aim to be the 1/5.
Lucas Howard
Remember boys. Miss Opportunity knocks every day. Every single Day at everones door for a few seconds if you open the door and welcome her in she will bring you fortune. 95% of people dont even hear her knocking. The rest dont open.
Ryder Myers
>Remember boys. Miss Opportunity knocks every day. Every single Day at everones door for a few seconds if you open the door and welcome her in she will bring you fortune. 95% of people dont even hear her knocking. The rest dont open.
>So go buy all the lottery tickets you can afford. Borrow money to buy tickets if you have to. Every day, Miss Opportunity rewards lucky lottery players with fortunes. Its a great financial plan for your future!
Isaac Ramirez
>sign up
>account gets blocked
Welp I guess I will just take my business elsewhere.
Bentley Thompson
Dude it's 12 years old.
Pretty sure a 12 year old study of finance and stocks is still very relevant today.
Joshua Torres
> *knock on front door*
> Hello?
> Hi Sir, I'm Lloyd Blankfein the CEO of Goldman Sachs, I'd like to give you a VP position with the company that starts at $500k a year. Is that cool with you?
> Sure!
THANK GOD I JUST OPENED THE DOOR AND WELCOMED THE OPPORTUNITY
Jacob Young
You opened the door to mis-sopportunity. You're in he 99% You need to open the door ro Miss. Opportunity. Get with the program.