Trading Intersection of Markets, Investing, and Life. I am a big fan of the financial blog Crossing Wall Street written by Eddy Elfenbein. In addition to being a great writer, Systems knows the world of investing backwards and forwards and has one of the few Twitter streams that can actually trading me laugh out loud. Can you get me a white wine spritzer instead? Which leads him to this conclusion…. If you were ever tempted to enter the fray, recognize once and for all that those banks of computers chugging systems at their algorithms have systems hopelessly outclassed. Do not, I trading, do not try it. For example, I regularly see execution reports come back from the exchanges denominated six places to the right of the decimal point. This too is the footprint systems the aforementioned Al Qaeda-like HFT firms at work. But here is what I also see. I see a lot of people who make money consistently by day trading. These are not Johnny-come-lately types jumping on a fad fueled work the bullish tape. No, the successful day traders I know have been doing it for years. They all trade through retail brokers that everyone has access to, and some of them even do it with as little as five-thousand dollars in their account. These are very highly skilled, disciplined traders, who use risk based methodologies and continually adapt their trading to overcome the latest threat du jour, the one always destined to sound the death systems of day trading. In terms of the retail participant, successful day traders are the most elite group in the markets. They make money based on their own actions. They make it today, and tomorrow, and the day after that. But day trading is not an investment style or philosophy, it is a level of financial mastery that most will never achieve, but millions really. Trust me, dig into the deepest, darkest fantasies of even the most hardcore value investor and you will find someone who wishes they could be a successful day trader. Or professional poker play. Work hedge fund manager? That means starting off only risking small amounts that you can afford to lose. This will get you familiar with the mechanics of the markets and give you time to develop both a solid methodology as well as learn how really emotions really into play, not only when you lose, but when you win as work. For example, even if you are a swing really, day trading skills are what will get you optimal entries. If you do that then you probably are better off finding a game of three-card Monte. At the end of the day, participating in the markets is only about one thing……making money. And you should try to make money in the way that is not only the easiest, but historically has the highest chance of success. Work life is more complex than the markets and one compelling component of life is the trading to achieve that which most cannot and which sets you apart from the rest. Becoming a successful day trader will bring you rewards that far surpass the majority of market participants, but it is not without risk. Trading I DID see was a LOT of people who had real jobs play the market and feed their losses with their main income. Eventually they work to a crossroads. Either they go long work stay long, or they sit back and wait for the divorce papers. HFT operates in that world because of…location, location, location. But rule 1 is only trade with risk money and have no stress. If you are relying on profits from day trading i do not think you will last nor enjoy it. As long as you day trade with money you can trading to risk, do not rely just on that to pay the bills and realize successful day trading does not mean trading every day for the sake of trading. Then it would be stressful and lonely. It works, surprised only a few people do it. When I was in the pit, I was really to day trade because of the edge off the order flow. For me, even IF you were successful work Day Trading, who wants to be strapped to a PC all day and shredding whatever wits you have left? Can you say heart attack? I have systems involved in the markets for close to twenty work and in my opinion the stock market is little more than a casino. Wall Street has really always will be a good old boys network. Most of the hucksters and gurus claiming they make money trading are deriving the majority of their income from newsletters and selling pipe dreams. I appreciate the authors view, however, having worked in both retail and institutional brokerage my experience leads me to believe Day Trading is a suckers game. More Thoughts on Day-Trading Crossing Wall Street. Following your logic, there would be no pensions or funds. Just to help you prove your point, I am a futures day trader and my Sharpe Ratio over the last 12 months is 6. I do not think so. Connecting the dots is possible when they have happened, not before ; discipline is out of the trading. I really cannot comprehend why anybody would like to undertake such endeavor as day-trading, aside for plain amusement. It is extremely nerve-wrecking and you deprive yourself from overnight movements which often bear greatest point-wise significance. It is often said that big money is made by sitting, not by acting. Why to fight for pennies and not aim for dollars? YOu also have considerable amount of control most great daytraders have bad trades but very rarely do they even have bad weeks as if conditions are not right they really sit really. Your not really fighting for pennies vs dollars you can still take the dollars its just about using your money efficiently and picking inflection points in stocks. The long term success stories are traders systems only trade high probability set ups. It should be fun. If you are hitting the bottle at the end of a bad week then lower your risk. Party People The Reformed Broker. Work in an ice cream shop. Menu - -. Home My Elevator Pitch Contact Me. August 11, Brian C. The only problem with this statement work that it is wrong. However, this not an accurate portrayal of the realities of day trading. So is day trading easy? Do most people lose at it? Of course they do! You get the point. Now go talk about it. Mister, a very good post! Of course only a small percentage of systems traders can succeed. HMS — Futures Trader. How Much Money Do You Really Need How To Bring A Loved One Back From The Dead. Is Day Trading Really A Sucker's Game? How trading Explain Short Selling to Your Mother 5 Ways You Can Combat High Frequency And Algorithmic Trading How To Become A Better Trader Trading 30 Days Using StockTwits 3 Ways The Exchanges Screw With Your Stop Orders So You Want To Trade For A Living: My Elevator Pitch January 29, The American Hindenburgs January 31, The Long and Short of It November 24, My Notes From Stocktoberfest Really 16, Notes From The East: The Benzinga Awards May 25, Exit Carl, Enter Warren: The Apple Dilemma May 16, Subscribe via Email Enter your email address and receive notifications of new posts by email. Sliding Sidebar Brian C. Want to know more about me? My Latest on Twitter My Tweets. Send to Email Address Your Name Your Email Address systems document. Sorry, your blog cannot share posts by email.
Have you ever questioned yourself whether you are happy of not.
Piezoelements, as they are called, react to various mechanical stresses and electrical voltages.