Is Daytrading dangerous?

C

CreditViolet

Guest
:)

Just want to finish up on this thread, I have new projects to take care of so this will be my last reply here for some time.

All I would say is being a short-term trader has to do with taking what the market has to offer. Most of these 'fundamental' and long-term investors have already made up their mind on what the market is going to offer. If you go to the Equities section, there are wild guesses going on everyday and people who are locked into predictions. If someone goes into daytrading with the same mentality as in 'this is where the market will be because I read it in DalalStreet' you will soon join the 95% statistics club. It takes years of watching, testing and losing money for any style of trading, no trading-style comes with a built in warranty where you will end up being profitable. The journey is always long and if you want a warranty, buy a toaster.
 

beginner_av

Well-Known Member
I joined this board recently primarily to get some possible additional information on fundamental stock screening and back testing software ( unfortunely I have not seen a decent one yet catering to the small investor for Indian mkts, so Iam sticking to mutual funds for now )
ever heard of amibroker?
 

beginner_av

Well-Known Member
what is this 95% statistics? strange that so called traders constatntly quote these statistics to say this is dangerous...that is bad...you will drown etc etc. do you say that only 0.5% doctors succeed? or 0.001% lawyers get a case? then why this traders. imagine, tomorrow, you deposit some money and get a license to prectice law or medicine...then millions of indians will be eligible. and these will be your stats. in reality u have entrance exams and fixed seats and entry qualifications. imagine if trading had the same criteria like medicine, will that figure remain 95%? will the potato seller and milk man think of buying stocks on their own "research" hoping to be a millionaire? if they go belly up, do you really consider that another TRADER has failed?
 
:)

Just want to finish up on this thread, I have new projects to take care of so this will be my last reply here for some time.

Wishing you all the best on your endeavours,and we all look fwd to your return to regular posting.

Saint
 
what is this 95% statistics? strange that so called traders constatntly quote these statistics to say this is dangerous...that is bad...you will drown etc etc. do you say that only 0.5% doctors succeed? or 0.001% lawyers get a case? then why this traders. imagine, tomorrow, you deposit some money and get a license to prectice law or medicine...then millions of indians will be eligible. and these will be your stats. in reality u have entrance exams and fixed seats and entry qualifications. imagine if trading had the same criteria like medicine, will that figure remain 95%? will the potato seller and milk man think of buying stocks on their own "research" hoping to be a millionaire? if they go belly up, do you really consider that another TRADER has failed?
Great wisdom as always,bav.....

Saint
 

beginner_av

Well-Known Member
:)

It takes years of watching, testing and losing money for any style of trading, no trading-style comes with a built in warranty where you will end up being profitable. The journey is always long and if you want a warranty, buy a toaster.
far from confusing, CV's answers are very very clear. he is sometimes indirect even sarcastic. i had the good fortune of prolonged interactions with him. well for all those whi cant see through the maze, clear your vision, open your minds, put your defenses away and deflate your ego. more than answers, you will find much more than what you asked.
 

beginner_av

Well-Known Member
Credit,
I have always seen you speak in support of Day trading.But,still the Law of Averages show the contrary result.
Then,considering you belong to the above average,what is the secret of yr success & which most appropriate single reason which you consider for majority failure.
sir, trading is a competitive sport. ever talked about law of averages to Tiger Woods or Roger Federer or Schumi?
 

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