Is Daytrading dangerous?

[rajsingh]

No, the commissions and emotional stress will eat up a person. There are a lot more successful position traders than day traders. In fact a vast majority of day traders go bust.
Most of the great traders ( New Market wizards, Turtles by Curtis Faith , Van Tharp , all must read books) trade with longer time frame

A vast majority of traders go bust period. Regardless of the time frame traded. But I would agree with vince on keeping it simple.

 

[CreditViolet]

No, the commissions and emotional stress will eat up a person. There are a lot more successful position traders than day traders. In fact a vast majority of day traders go bust.
Most of the great traders ( New Market wizards, Turtles by Curtis Faith , Van Tharp , all must read books) trade with longer time frame

FYI, neither Tharp, Faith and most of the Wizard trade these days and a few have gone bust.

 

[masterjee]

Is crossing the road dangerous? Maybe when u r young, or blind or in stress or whatever. Trading is no different.

m

 

[Shishya]

Not more than getting married... hands up please...

 

[uasish]

Not more than getting married... hands up please...

To negate the effect of volatility the time axis is extentended to 10 /15 / 30 yrs in case of Stocks & hence Buy & Hold works better than in case of conjugal life ,many a times.

 

[deepsa52]

FYI, neither Tharp, Faith and most of the Wizard trade these days and a few have gone bust.

In the trading profession a good number of inexperienced traders go broke whatever the style is
Van Tharp is not a trader, he is a trading coach.
Curtis Faith made his millions, lost it due due to bad business debt and now is doing great again running his company tradingblox;he is a genius.

Anyways, I have nothing against day trading, the reality is most people go bust day trading and many of them are newbies who do not even know what a bid ask spread is.

 

[deepsa52]

Contd, do you think the big hedge fund guys with their MBAs and CFAs and portfolio managers do day trading? Show me one.

 

[deepsa52]

cont, day trading trading is advantageous for floor traders and scalpers since they get better executions on the floor- in turn they pay their millions to get a seat in the exchange.
That all

Thanks,

 

[uasish]

Contd, do you think the big hedge fund guys with their MBAs and CFAs and portfolio managers do day trading? Show me one.

Albert Einstein could not Pass the entrance exam in Swiss Federal Institute of Technology 'ETH ZURICH',that info did'nt demoralise other aspirant candidates to appear in next yr entrance exam.

However your advise in avoiding Day Trading is well taken.

 

[rangarajan]

Credit,
I have always seen you speak in support of Day trading.But,still the Law of Averages show the contrary result.
Then,considering you belong to the above average,what is the secret of yr success & which most appropriate single reason which you consider for majority failure.