Actively Day Trading One Single Market VS Day Trading a Handful of Markets?

[Actively Day Trading One Single Market VS Day Trading a Handful of Markets?]

Trading like anything can be taught, its just that some people will be ok at it which usually means break even after commissions, some will make a reasonable living, and a very small few will really succeed.

As has been mentioned that you need to fit your personality and style, I am sure that not every market or style suits someone, and hence there will always be some wrong turns in the journey.

There are always too many preconceived notions that first need to be eliminated as has been pointed out. There are plenty of trained lawyers out there who are not practicing law and I reckon a few of them found out that its largely a pencil pushing job rather than the high flying court room dramas they initially believe.

(Electronic local - I have loosely followed your blog, and one great point you make is about consistent profitability for day trading....lots of people miss this in many teachings. I also think that stops should not really be called "stop losses" but 'stop account crippling drawdowns" or "stop blowups".)

 

I always wondered about the 95% statistic....where does it come from?

At a guess I think that if its based on closed accounts, then there must be a lot of traders in there who either;

1, are undercapitalised, and hence close an account

2, get bored, loose interest, become too frustrated to continue

3, close a few accounts, and yet ultimately become profitable with one account

4, dont like their broker and hence close an account.

5, change their trading styles over time and either it does not work or they disappear through boredom.

 

Interesting observations you have there. Who wins?

 

Also, I did some light web research into the mythical Johnson report and I admire your conclusions as they are pretty much what I uncovered.

 

In the land of the blind, the man with one eye is king.