Why some Make It

[trader111]

Just a faster version of the game. real time data, real time analysis, discipline, clarity in action.

Needs lots of hardwork to create a system if you are a system trader. (spent more than "seven months * 14 hours a day" doing nothing other than restructuring a system .....many of my friends in this forum are aware of this)

still I feel its easiest mode of the business.
in fact I have immense fear of swing OR longterm trading just like people do fear daytrading.

Was gr8 to go all through that. You reciprocate many of my thoughts

What I really like about day trading is that it lets you know of your inefficiencies very fast. I have seen people swing trading on fancy and last for a year in the market. But when a daytrader is wrong he will find it harder to survive more than a couple of months. An active daytrader's equity curve lives in two month what a swing trader's curve may live in one year. I have'nt carried a single position overnight through more than two years now. Also never used any of the 'popular' indicators except one- bollinger bands

Why most find daytrading difficult is because of the disciplinary part. IMO it is easier than swing trading in the sense that reality dawns faster- really fast!

 

[omkarmango]

You reciprocate many of my thoughts

kumbh ke mele main bichhade bhai

 

[trader111]

der se mile per durust mile

And this map for anyone who thinks daytrading is RISKY:

 

[praveen taneja]

hahahaah wow good n tasty id sir but i want n reaquest u that if u know so much labour is required to make a system for day trading n n more would it required the intelligence of reading wat this system want to tell.Pls is it possible add me at YM n send me trade which ur system tells u i only trade in nifty n RIL options Thnx if u like add me prvntnj@*****.co.in. God bless u

 

[uasish]

From Mark Brown

1. They start in a position to not need to make a living from it. The need for steady money like a weekly paycheck will corrupt your thinking and force you to deviate from your plan of action that was so well thought out prior to the heat of the battle.

2. They do not need the money that they loose. The enormous amounts of money that it requires to learn to daytrade would exceed most peoples lifetime income. What makes the number of successful daytraders so low is that even the few who could make it, dont have enough capital to endure the learning curve.

3. They do not give a flying _uck about anything or anyones opinions of what the market will or might do. The very news and opinions that surround them becomes the mortar for their brick wall of defense that protects their completely independent thinking.

4. They do not follow the crowd, and there is no pressure on them to conform or perform. One absolutely must not be in a position to be held responsible for anything that you do. Total freedom from both personal and monetary obligations are a MUST, this alone eliminates 99.9%.

5. They have incredible discipline to not buckle under pressure. They have a perfectly clear head and understand fully what they do and how they do it. Battle wounds and memories of defeat are more valuable to them than the money.

6. They do not daytrade with the goal of making money. Quite the opposite, they would be just as happy in any type of intellectual challenge that requires the extraordinary inverted thinking and brilliance required to win at an individualized sport.

Another Gem from Jesse.
Money is an Automatic process,one do not pursue that,this realization came very LATE.

 

[beginner_av]

I think we need atleast 1000 posts to describe what not to do for daytraders, forget about what to do

A thousand posts later there will be another 1000 things that you should not do, but if you do not know WHAT TO DO, knowing everything about what not to do will just make you a sitting duck, DOING NOTHING.

 

[praveen taneja]

A thousand posts later there will be another 1000 things that you should not do, but if you do not know WHAT TO DO, knowing everything about what not to do will just make you a sitting duck, DOING NOTHING.

good very nice keep it up i need support to request seniors pls help them who cant earn in this mkt.In the mkt people earn mare money but by helping they will earn blessings that will b with them on this earth n above god bless u all keep it up

 

[munde_77]

From Mark Brown

1. They start in a position to not need to make a living from it. The need for steady money like a weekly paycheck will corrupt your thinking and force you to deviate from your plan of action that was so well thought out prior to the heat of the battle.

2. They do not need the money that they loose. The enormous amounts of money that it requires to learn to daytrade would exceed most peoples lifetime income. What makes the number of successful daytraders so low is that even the few who could make it, dont have enough capital to endure the learning curve.

3. They do not give a flying _uck about anything or anyones opinions of what the market will or might do. The very news and opinions that surround them becomes the mortar for their brick wall of defense that protects their completely independent thinking.

4. They do not follow the crowd, and there is no pressure on them to conform or perform. One absolutely must not be in a position to be held responsible for anything that you do. Total freedom from both personal and monetary obligations are a MUST, this alone eliminates 99.9%.

5. They have incredible discipline to not buckle under pressure. They have a perfectly clear head and understand fully what they do and how they do it. Battle wounds and memories of defeat are more valuable to them than the money.

6. They do not daytrade with the goal of making money. Quite the opposite, they would be just as happy in any type of intellectual challenge that requires the extraordinary inverted thinking and brilliance required to win at an individualized sport.

Very informative article

 

[Czar]

jus keep writing good things about daytraders......feeling high

I always found people who lack daytrading abilities despite strong desire, eventually turn in to desperate defamers.

lol but I belong to the Anti Day trading camp, how much you may instigate...

 

[trader111]

lol but I belong to the Anti Day trading camp, how much you may instigate...

Earlier there used to be a lot of talk that daytrading is risky, requires more efforts, is only for professionals and blah blah blah

I equally enjoy the talk what not to do in daytrading. Actually all those people make us feel proud all the time