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homestudy

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Posts posted by homestudy

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    Day Trading is far from dead. The day trading dies, is the day we've got bigger things to worry about, like and end of the world as we know it.

     

    The article is mainly about trading equities where volumes are spread a lot more thinly over various individual stocks within an index, unlike futures where you're trading the underlying index or commoditiy.

     

    Trading did use to be a lot easier, but at the same time, I wouldn't say its got harder providing that you're day trading properly. What has happened is that basically it's come to a point where if you're going to day trade, you have no choice but to learn the mechanics of trading now, and to do it properly. As I mentioned in a another thread, the majoirty of the market is always looking for trends, even tho the market spends 80% of the time in a range. So essentially you have lots people who have taught themselves how to be chart analysts inadvertly thinking that they're trading. Over the past couple of years, they were able to get away with it because of the monster moves and trends, which gave a lot of people a false sense of security. Most of them people are gone now, and you can tell that from even from how quite the forums have got. In the prop letter, he stated that the days of someone being able to grind out a $50k USD a year living are over and that they're going to cut these 50k a year traders. Fair enough in my opinion, everything is relative, and if you're only earning 50k USD a year from trading, then you're not exactly an amazing trader.

     

    If you're 'trading' and not analysing, then it's just a case of adapting to the conditions.

     

    What is happening is the same as what happened on Eurex around 2006. Lots of people made good money when it was easy and were not talented enough to adapt to new conditions. The only differences is that back then they were blaming the flipper. Same stuff just another cycle, people blaming everyone/everything except for themselves.

     

    Killer post I couldn't agree more. If it was easy my Mom would be doing it, Markets change all the time, they changed this summer. What worked yesterday may not work today. Its our job to adapt and give thanks everyday we get to do this job! It doesn't get much better then this.

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