Is Daytrading dangerous?

I was using two variables! Price and volume!!! SO now I know what was my problem!!!

I need some more variables!!! I was just playing with markets!!!

Let me put it in my perspective:

I have a day job which I am hoping to quit in a few years and become full time trader.I spend about 10 hours a week position trading and make a decent second income - I am by no means a big trader , but of couse I hope to be one
I have a family with two kids
I trade in 5 different markets from Soybeans to stocks(yes I develop multifactor models if I get a good tool or a data feed, its not all that hard, I just don't have the time to tweak ascii data and make up fake symbols for mimicking fundamental data , I would rather pay for an affordable feed or a good tool), to Russian ETFs to Nifty futures in SGX. Where I find a good trend, I follow it , I dont care if it is Alligator futures in Kazakhistan as long as it is liquid.

Any decent sized trader can do this with Interactivebrokers and mini futures contracts are available for mid sized traders. I think its the best discount brokerage but unfortunately does not offer Indian Markets . The accounts are insured upto million dollars or so.

The day never ends if you are in multiple markets and if I even think of day trading, it will make me nuts with 5 different markets.

And yes, I have time for taking my 2 year old daughter for swimming, my son to the football club, playing badminton twice a week and watching a movie a week . I bet a day trader can't do this and be sane at the same time.
Traderji is a great site, obviously due to time constraints I wont post a lot here.
Thats enough, No more daytrader bashing

Read the post again.
http://www.traderji.com/135667-post294.html


I answered your opinions like,

Daytrading might work in the short run for young people who eventually may develop serious stress related illnesses.
You don't see too many day traders with great wealth - probably they are not alive to enjoy it.

(initially I wrote a different answer, reason to edit: cant be rude to a father taking his 2 year old daughter for swimming)

Great advice..........................

Save your precious expressions for deepsa52.
Quote you referred is not mine.

Why dont you activate your PM ? It's good to avoid such confusions.

Private Messaging

You can enable it following way.

go to.. User CP (User Control Panel) http://www.traderji.com/usercp.php
Select ...Edit Options
Select...Enable Private Messaging

I will be the meanest day-trader in Indian market!

Dont have a good internet connection! Just a GPRS connection which fails with a GOOD breeze!!!(Out of coverage area!!!)

Dont have a data feed except the one provided by broker which is manually fed to TA software(Ami)

Dont have a backup solution except for a dead car battery with UPS that gives 20 minute backup to the most!

Dont have a consistent power line that is up at least 20 hours a day(forget 24 hour/day power supply)

Dont have a news channel except for Doordarshan News!

Dont have a newspaper- Morning paper comes nearly at 3 PM![Changed with the first bus service started here from Tuesday-Now at 7am...huh!!!]

With all these I am trading markets!
And that too intraday in a time frame of 1 minute!
Without historical day! Just the data of the day from market opening and some data from EOD charts!

I am not making consistent profits, put I just made a single losing trade which was all required to give markets what it gave me.

You want to trade with a feed "spoon fed" to you and want it to be the "7 course" dinner best of the world!

Good luck with your search for method to dissect fried chicken leg with spoon!

Please dont make the leg to crash land in nearby MahendraPai's sambar!

I am happy with my headaches!!!

BTW will upload some pictures of me playing cricket(some days football,sometimes kabbady) with the people here at evening in paddy fields!!!

And also I am watching atleast an english movie a day!
Thanks to xvid and mobile movies!!!
(if watching movie is assumed to be not meant for day-traders)

I go out with my parents to relatives house! I enjoy my day with the only mallu soap produced by film superstar!

From what you tell I must have to be dead by now doing intraday!
I do paper trades at night while chatting with fellow traders, friends and relatives!
I do them in forex and commodity markets!

Now tell me I am MAD! Please! OR brand me as a mythical creature on this so called "un-civilised" part of India!!!

Let people do what they are confident to do! Let them work hard on that!

IF one person cant do a thing, it doesnt mean that no body in the world can do that thing!

Yes, I know and accept day trading is difficult! It causes stress!

For me I am not stressed because I am just trading with my "tuition fee" for markets!

"Trade with the money which you can afford to loss"

But I must say - "Trade with the money you want to loss"

I have read in a book about a person going to a CASINO with left pocket filled with money that he want to loss. He makes profits and put that in right pocket and never touches it!

When his left pocket is empty, he quits!

He does it all for pleasure, or keep him engaged or for socializing with his friends!

This is one thing that I am practicing!
If I want to loss some money I do trading! I take the profit, run my account till it is penny less!

And after sometime when I need to have some more excitement, I come with money I want to loss!

I still dont know why people want to go to adventure park when day trading is here!!!

Day trading is not gambling!

It is a REAL TIME STRATEGY game with live characters and in real life!

IMHO... newbies view point!

brettsteenbarger.com may help to boost daytrader's performance and make him wealthy.