How are some people able to make it work? I am aware of people who have great success with it. I remember witnessing someone makw 50 gs scalping the ES in one day and was mesmerized by it, despite knowing a bit of their strategy I never had success.
>>61819085You need brains, dedication, discipline and experience. If it was easy, everyone would just do it. I suck at it too. After losing 1k I learned my lesson. Cheap lesson compared to so many others who just keep going at it without it.
>>61819085day trading is just one giant grift for normies the only way to make money day trading is using giant HFT algorithms
>>61819085I read somewhere that Ren Tech’s medallion fund works by fleecing day traders (per Ren Tech employees themselves) and thus day trading sounds far too risky.
>>61819085think of it like a fromsoft game after banging your head against the same wallit all suddenly clicks
>>61819085any time you or anyone you know wants to try "daytrading" please look at this image
just get lucky
I lost 1K in Octobe daytrading. Then lost 20K trying to make it back in January.I'm not rich and this is big money for me.How can I recover my losses come Monday?
>>61819244That's nof even close to a like-for-like comparison. OP and most people shouldn't daytrade but that's a dogshit image
>>61819244and how many people reliably beat the casino?
>>61819685take out the largest loan you can qualify for, gamble it all on a 50/50 and if you lose you rope
>>61819744I don't qualify for any loans.
insider info, scamming, faking while selling courses. normies shouldn't try anything but dca what you're actually long on.
>>61819085>How are some people able to make it work?Luck
>>61819244You never beat the casino long-term. Daytrading you might start winning long-term. Maybe.
>>61819085Only buy when price action touches the bollinger band bottom AND 200ma on 1 hr or 4 hr charts.
>>61819085my cousin in NYC used to/still does day trading, iirc he traded ebay in narrow channels and made 2-3 hundred $ a day (in a few hours?) and also drove taxi
>>61819085>How are some people able to make it work?By having insider knowledge
>>61821426And familiarity with the systems, with recurring trends, financial focused education and experience, connections to others in the field... And a higher IQ than the OP.
>>61819085>some people able to make it workThis is a fallacy. Day-trading is the equivalent of gambling. People who trade for a while eventually lose their gains.
I think you just need to get lucky and pick your spots carefully to maximize the probability of winning + always take profits and reinvest elsewhere so when you do get rekt you still kept a bunch
>>61819085>How are some people able to make it work?Alot of them don't. It mostly comes down to luck. Alot of the time it is a very literal gamble.>I am aware of people who have great success with it.Its a survivorship bias issue. You're only hearing about people who were successful, and not all the people who lost money.
It took renaissance, a team of the worlds leading mathematicians and computer scientists (basically the Manhattan project of day trading), something like 5 years before they could reliably beat the market. And this in the 80's before any competing quant firms or competing algorithmic trading models existed (they were the first). That should tell you how fucking impossible day trading is. Today if you do it, you are coming up directly against their model that has been tweaked and improved continuously for fucking 40 years by the best scientific minds in the world with infinite resources and data at their disposal. You ARE going to lose if you try.
>>61819779Bingo. And whether you start winning long-term just so happens to heavily depend on whether or not you can accept losing in the short-term. Because it will happen, without exception. But the winners push past it, stick to a system that makes mathematical sense and in the end win big consistently.
Day trading only works if you are rich enough not to worry about every trade, there's no secret magic sauce, when you can just trade spot without leverage or trade for gains as low as 0.1%, but then again at that level it would be better to just buy bonds and live off the yields.
>>61819685Find a job
you are competing against elite gigachad's like me OP and won't make it
the best way to become a millionaire off day trading is to start off as a billionaire
>>61821738all that just to make 8% annual gains
>>61821426>>How are some people able to make it work?>By having insider knowledgeTHIS. The only way to reliably beat the stock market casino. >>61819244
>>61819085Good luck against a legion of bots trying to fuck you.
I spent 10+ hours a day for 5 years obsessively studying charts. After about 2 years I became consistently profitable but I still made mistakes, and then one day it just clicked. I don't use any indicators. It's all intuitive. 10 seconds of looking at a chart is enough to see if there is a setup worth trading
>>61819685The amount you have now is your new starting point. Whatever amount you had in the past is imaginary. Trading driven by the need to recover losses is how you go to zero.
>>61821738>dude math lmao larpjim simons was in the epstein files fyi
>>61822413What indicators do you use that make you decide to go short or long?What screener filters are you using for your pre-market scanner?
>>61819085The idea that you have to trade every day is the most midwit shit I've ever heard, this is why these people fail. This is a terrible paradigm to view the markets in and is essentially gambling. The market exists FOR rich people. It exists for people who can throw a million dollars down at a time (like now) when they know for a fact that at some point BTC or whatever the fuck will increase by 20% maybe not today, maybe not tomorrow, but they buy right now and then they make more than a doctors salary in a few months. The idea you can beat this and out compete robots is retarded, the only good day trading strategy is a goverment level MEV bot operation
>>61819085Ross Cameron
>>61819085>How are some people able to make it work?Day trading is generally considered a short-term strategy to profit from daily market volatility by closing all positions before the market closes, whereas "long-term" implies holding assets for years. Whileday trading is primarily a short-term endeavor, achieving long-term profitability through day trading is extremely difficult, with studies indicating that only about 1% to 3% of day traders consistently make money over the long run.do you believe you are part of the 1-3%?
>>61822017More like 100-400%>>61822583No he wasn’t and it’s not a larp, just basic stats
