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I have a serious question for everyone. Since we only see words on a screen you obviously can’t see the sincerity or the depth of seriousness of what I’m about to ask. This is a quality trading social place where serious traders, earn a living, support families and share war stories. Now with that said; I want to ask how many day traders are profitable? I have seen the numbers and I’m in touch with the SEC. There was talk about banning day trading until the SEC did an in depth study on the effects of day trading on the market. Their conclusion was day traders affect 0% of the price. Furthermore every serious trader knows that time is the only factor of profit. Now I’m not trying to generate hate responses or stir up anyone. If however you are day trading and you are profitable: I congratulate you and I’m happy for you. If you’re not and you have said you are. Here’s what I want you to do:
First and very important sit down. Now admit your trading faults.
Second stand up and live the rest of your trading career as if you are forgiven of every unethical action.
Lastly take a deep breath and focus on time.
Can you help answer these questions from other members on NexusFi?
"I want to ask how many day traders are profitable?"
Sorry that is not a ... serious question.
How many here, who knows?
How many in the grand universe of day traders. Same answer.
There are all kinds of statements, (including from the SEC), that really don't cover all. But it is fair to say a very high percentage of day traders likely are losing.
Which is similar to the number of new small businesses started and failed each year.
Why should be anything different and why should it be looked at as anything different?
The majority fail so the minority can succeed. That's it.
You're in touch with the SEC? Sounds like an "appeal to authority" fallacy.
Really? While there may have been studies to see what effect daytraders have, I seriously doubt there was any consideration to a "ban" by the SEC. I would be curious to see your evidence.
And this sounds like a "no true Scotsman" fallacy. I'm sure you would find a lot of "serious" traders would disagree that "time is the ONLY factor of profit."
I don't think you have. Why would you think anything you've said here should generate hate? I think most "serious traders" are probably not so quick to experience emotional extremes with so little cause?
With all due respect, why would you have a desire for anyone here to "do" anything? And again, with all due respect, I don't know you so why would I just go and do something you wanted me to? I am genuinely puzzled by puzzled by your post.
No ill will is meant by my comments but... You obviously are one of the traders that are not profitable.
I've been here a long time and from time to time this questions arrises. (if you doubt this, just type "Profitable" into the search box at the top right of the page.)
These questions always come from someone looking for the 'Holy Grail' or someone that wants to show how much they really don't know about trading.
Perhaps the question you should ask is... Are you profitable?
If the answer is what I suspect...
I want you to do these things:
LOL
Actually, those steps are nonsensical, they won't make you a better trader or a better person.
BTW, the reason I know you are not profitable is because you have been here since 2017 and are not an "Elite Member'.
If you truely want to excel in trading, that should be your first step, not the ones you asked others to do.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
@Amstaff
"Posts: 10 since Nov 2017
Thanks: 4 given, 3 received"
...and you think you are really reading this vast forum?
To give you an answer anyway: Go to fio's journal section. As you are not elite then look for the free journals. YES - there are many, even real time ones. Then read the journals from A to Z and you will see the answer(s) yourself.
No more input needed. If you are convinced, then start finally with Elite membership.
Happy reading! Don't forget to post here your conclusion.
for the Forex- and CFD markets in europe there are numbers available. Per law every "Broker" is committed to show there percentage of loosing traders on their website. It's 70-80% losing traders. I think there are a low percentage number who can make a living from their skills.
Brokers have been analyzing their clients for decades. Therefore, the available figures and statistics are very accurate. This has resulted in the following (Goldman Sachs):
On average, 90% of beginners lose 90% of their capital in the first 90 days of trading. That on the basis of this the day trading should be forbidden, would be new to me.
From a survey of Indian retail traders I once saw that about 75% admitted that they are not successful. If and how many of the other 25% are able to finance their life with it, was not the topic of this survey.
I personally know only a few who can finance their lives with the special knowledge in various ways (Futures, Option, Shares usw) they have built up in trading. Those who can, however, usually live very well.
Others I know make some money here and there and see this more as a side income that is then just there. For those trading is more for fun and some kind of hobby.
Thank you Anagram, symple and Kloep
Yes the numbers don’t lie and it’s with that sincerity I asked. People here attempt to support their family trading and sadly this industry has been ravaged with bad people who take advantage of the new comers.
To answer the other comments, I have two comments:
1 yes I did begin and lost money until I paid a mentor to teach me. One of the lessons drilled in was time is the factor of profits.
2. Hostility is a sign of sexual frustration. Hope you have a nice day