Discussion about this post

User's avatar
Skip Day's avatar

I was a professional trader for hedge funds. We have more resources, money and information than you will ever receive. Chart reading is mandatory and works on four hour charts and dailies bc it will capture everything we did that day. But during the market session, charts aren’t as accurate for you because we are forming the patterns and will change them because we can . We know when and at what price the day traders are more active, since they all behave like a herd, and it only takes one guy to clean them out, on purpose. You watch volume. We know the volume. Is the market maker net short or long and how aggressive is he and at what price can we do trades of different sizes? Which other fund is looking to buy or sell at any price? Who screwed who and is now getting punished? Blah, blah. Thousands of examples of a market small traders should not be in.

Trader Z.'s avatar

I bookmarked this article on the "90% of day traders lose" stat. It's not wrong — but it's incomplete. Nobody asks who the 90% actually are, or what separates them from the 1%. Nobody asks why most traders exit before they ever get good. Those are the variables that turn a loss-rate stat into a story, and this piece skips all of them.

My counter-editorial on ay trading will drop next week. the traders who are actually making money don't show up in this data at all. They're not in the retail broker cohorts these studies pull from

9 more comments...

No posts

Ready for more?