Why I don't day trade (as a quant developer)
ฝัง
- เผยแพร่เมื่อ 25 ต.ค. 2024
- I don't trade with my own money, despite being a quantitative developer (software engineer) at a proprietary trading firm. Here's why.
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You can build a business in trading. You can sell courses, books and dreams to people.
Yeah, that's why some day traders make make more than this guy's salary
Never forget the statistics beb
@@RentChizuruMizuhara
Except they don’t make more 🤣🤦🏻♂️
So you're telling me there's a chance...
Hahaha! There is a chance to strike rich in the lottery too. When Taiwan introduced the lottery in 2002, trading activity fell by 25% :)
@@CodingJesus the reason is becuz ur dev not a trader....
@@CodingJesus I am in Taiwan haha so amazing they even have a receipt lottery organized by the government.
@@saywhat4229 lol.😂 he is a devoloper who makes tools for traders and says trading is not a career😂😂
@@jack_sparrow1049 cigarettes kill but the companies don't stop manufacturing it😁
I've been trading since I was 15 years old. I'm a software developer now. Developing various trading algorithms. You can make lots of money as a day trader but only if you can function like a robot. My advice - just get a robot ;)
How have ur bots performed, and why not just use quantower thsn build ur own bot?
>Do something that contributes to society instead of day trading
>Works for a HFT firm
😂 how does working for hft firm contribute to society 😂
providing liquidity. Its taken for granted these days, but not long ago if you wanted to get out of a position at a certain price, you couldn't. You had to wait for someone else to buy your position at a less advantageous@@elonmuxk
@@elonmuxk liquidy to the market
@@dailyclipmafia5041 retail traders are liquidity providers too lol
@@dailyclipmafia5041 Lolz
I have no plans of developing a career or talking to anyone, I'm an introvert I'm perfectly fine sitting in front of a computer all day.
I kind of agree with the general gist of the video, but the "do something productive / contribute to society" part sounds strange if you work for a high frequency trading firm. Maybe I'm missing some context here?
Yes! It seems like he was saying that the same activity is more valuable in society standards if done as an employee
Yeah I disagree with this completely. I work in IT and I don't feel like I'm contributing to society at all. I'm a digital janitor who makes money for the people at the top. That's it. You want to do something for society as a day trader or something similar? Then us your disposable income to donate to charities you believe in or volunteer for a local organization in your off time.
@@stab74 I resonated with this 💯
institutional education trumps self education is what i'm getting out of it :)
HFT firms add liquidity, smooth out markets and allow you to sell your positions (slightly easier) when you want to. Economically, there’s (some) value to that for those who need it.
Just.because things doesnt work out for you doesnt mean it wont work out for others
WORD
From my very minimal experience with day trading, I will say that it can consume you and take away from other areas of your life very easily. I would definitely put a limit on the amount of time put into it if you aren’t serious.
I day traded for the past 3 months. I made 70% profit and quit. I realized the amount of effort and luck was a big part of it. Much better to dollar cost average into an index fund and start a business.
With 70% compounded returns every 3 months, you'll be richer than Jeff bezos in a few years though, why not?
@@chilly2171 that’s stupid, you do know that as your capital starts growing into the billions it gets harder to get great return because of different factors like slippage and just overall liquidity
@@haroldgarcia9267 literally the opposite, as your capital grows you can grow it quicker, that's why compound interest is so powerful. And where did you get the idea that this guy's capital is growing into the billions lol?
And when you’re doing high frequency trading you’re contributing to society how ?
LMAO
He didnt claim that he is contributing to society by working for a hedge fund....and to be honest whenever an economical transaction takes place it has no direct impact on society. Its only when everyone is producing something the society benefits. There is only one place where people make direct contributiom to society and thats education institutes.....
They provide liquidity
@@manojramesh2489 You're the only one who gets it. Without liquidity, investors don't invest. Without investors companies like Tesla, Microsoft, Apple, Dupont, BHP, etc. don't exists. Wait... where are people employed and who changes the world? That's right... companies like Tesla, Microsoft, Apple, Dupont, BHP, etc.
He is an idiot with zero knowledge of how liquidity is provided by traders makes the transactions so fluid and with less cost. I bet he ever heard of there are layers to financial instruments and institution. International $ is not domestics $, nor do they trade at par, neither $ in your account in New York is equal to $ parked in a LA account.
Speed of access to the information, reacting to it, sending orders, trading costs, and your position in a DoM queue matters if you make trades frequently (that's true in case of day trading). Basically, you will have the worse conditions comparing to any HFT firm, so you will be just a source of profit for them and loose your money most probably
Not most probably but 100% you will. 95% of day traders go broke. That's an undisputed fact. If it wasn't a fact then everyone would stay home and be a day trader.
It's definitely not for the faint of heart, it requires a lot of skill and discipline. Entering and exiting at levels while maintaining the mental fortitude to exit when things are going against you while incorporating your analysis based on market research. This is a skillset that requires a lot of a human being and most human beings aren't built for it and shouldn't trade actually.
HTF investing is far greater as far as probability goes because you are required to have patience to wait for your levels to hit. Its a free market, its you against everyone else participating in that market, so you have to be smart in all aspects of your life.
@@shelby6622
Day trading is addicting. I started day trading some months ago then I had some loss (fortunately not much) and stopped. But I got obssessd with the stock market and can't help but spend all my spare researching, reading and watching videos about investments, trading, technicall analysis and stuff like that.
TA is BS
Thanks for sharing!
I usually don't do this but here goes, VBIV BCRX CRDF SGMO , yes , I'm a trader ,and
very good at it. Thank me later.
@@CodingJesus no, its not. Bit mathematical indicators like stochastics, MACD and all that is. People are too mechanical and use that a lot.
Breaking news: they dont work.
Trading is intellectually engaging. Like doing complex puzzles, and I like it. I'd be stressed if I were trying to live off it, but it's a nice side hustle and in many ways I wish I could do it all day because I enjoy it very much and there is so much to learn. Everyone, including my accountant warns against it, but I'm personally up 70% in six months. No moonshot plays or gambling here. Just meticulous analyzation and risk management. It suits me. I'm still a newbie and I don't presume it will always go this way. I'd need a few years to feel like I really know my way around. But I do not feel like I'm in danger of losing 10k lol. Psychology comes heavily into play, which is interesting and it requires a lot of studying.
How its going 9 Months later ?
14 months??
1 year later radio 📻 silence man down ?
2 years and one 20 percent pullback over 2022... hope you're holding up
Cmon man update us its been more than 2 years
hi, genuine question: why is day trading not productive but quantitative trading is?
Point ⚫
Why cant day trading be quantitative?
@@sommojames day trading can be heavily quantitative, I’ve done so many statistical test(linear regression) that has aided and refined my trading. The guy making this video is somewhat disingenuous and pretentious lol kind of cringe actually
@@gz4l72 Exactly
@@gz4l72how did you do
Wow....Truth.....You are spot on about the difference between being a value creator, and a value destroyer. Most people should think about creating value, and making themselves a better person. But people want to believe that they can make money by no value creation. By taking money from some other person, and giving it to themselves. ( Easy Money)....Nothing in life is free. Either create value, and enjoy the benefits, or destroy value by taking what you want for nothing. Every choice has consequences, or benefits. Ah...but glory is given to those who ruthlessly take. Consider the success of Fast and Furious. They started out as cool car guys, and ended up as a bunch of thieves. Choose wisely.
I was specting those reasons, but it is interesting to heard it from a quant
It's one thing to hear it, it's another to understand it. I hope prospective day traders who watch this video both hear what I'm saying, and understand that they shouldn't get into day trading.
@@CodingJesus amen
So.... The video told you information you already expected going into it? K.
Day trade is not for everyone especially for the weak. You need to have a strong mental and strong discipline, the point of trading is not sitting on your computer for the whole day. I earn profit in 40 min or stay cash if i don't see anything and done for the day. Do whatever I want during the day whether reading book or spend with family. I would say 95% of day trader fail and lose money. Definitely not for the weak. I agree with the video tho
I know zero about coding, but I am enjoying your spin on the field. Keep it coming!!!
Best advice ever! Everything he says is spot on.
Agreed, the only people that make money day trading are those that sell you courses on learning to day trade
pretty silly... There are thousands of new millionaires from day trading crypto this year... lol
@@JosephHoffee everyone is a genius in a bull market
Especially the people that learn and make money instead of saying it can't be done... during a bull market.
I disagree somewhat, IF you allow the many mistakes to humble you and dig deeper there's no reason WITH enough capital you couldn't simply scalp with big size and make money with proper risk management. That risk management IMO only comes from looking at your faults trading, and doing better the next time. Good video though sir.
Thanks for sharing.
@@CodingJesus Yeah..... It's hard to argue with some people. So, i stop talking to "normal" people. They will lock childern up, shrugg and look the other way. Same with closing the day-care because of "health", while they go to the fucking IKEA. Because they need shit for there home, so they can sit there nice and coasy with there family. While there "clients" are not allowed to see there parents. Hope they go broke soon...
Ross Cameron - It can be done. It is extremely difficult but possible.
Coding Jesus is so fundamentally well balanced. i love what you say. battlecry "stop trading, start reading!" very cool. thx for the content. interesting that you work at a HFT firm. i still am amazed them parasites are still legal after "Flash boys" came out. i'll keep listening to your videos tonight to see what you say about that. to me, HFT is 99% front-running. let's see what else...
He is making a point... Extreme point but just enough to add a personal growth and have a life to day trading, there is no need to trade 8 hours a day.
Most of the important moves happen within the first couple hours. The best thing to do many times is set your stop and walk away. The market is going to either hit your stop or go the other direction whether or not you are staring at the computer.
This is genuinely an incredible video. I think EVERYONE who wants to day trade needs to watch this video. At the end of the day day trading is gambling. Its literally playing a casino, but in some cases WORSE if you start writing open options.
This video is old, but I’m assuming algorithmic trading and creating systems that trade don’t count correct ?
Just because you’re not able to doesn’t make it impossible
The coding Jesus guy doesn’t know how to trade, if you’re determined to learn how to trade and be a consistent trader, you will definitely be.. I don’t even know why if specifically said day trade, you can be a swinger , position holder or even a day trader and equally make money .. if you can’t do it someone else can
@@kingsleyopoku-mensah1399 exactly
@@oroboros4858 there’s trillions of dollars going through financial markets. this video really doesn’t make sense. If people weren’t making money it wouldn’t exist. Businesses are no different. Some people have bad ideas, bad products, bad management and they fail. If you operate under the impression trading is impossible it’s just naivety. I could write a million examples, if you don’t make it pro in a sport does that mean the nfl is fake or nba is fake and it’s impossible. No it just means you couldn’t. If you can’t write a proof for a math problem does that make it impossible or not true. No just means u couldn’t. In any field there’s people who succeed, people who fail, and people who quit.
@@barrydylan-rs8vf amen
Nice video. Does your caution against "day trading" encompass rigorous quant'/statistical approaches or are you only addressing the point-and-click hopefuls?
Obviously only point-and-click
Ok… the proof that your speech has no basis but demagogy and click-rate…
LMAO! You said that in day trading we aren't learning anything new, and just simply sitting in front of computers! Then what do you think software engineers and coders are doing?
Becoming better at coding…?
@@DirkvanEgmond-dn4do then I will become better at trading do you think one strategy will work forever and no things are going to happen in the future, if you are a good trader you will have the capital to establish another businesses beside trading
A little extreme, but I agree with most of the video. That is why I swing trade most of my positions and sell options. Day trading long term would be extremely stressful.
Yep I got drawn in, and spent money on courses, but I couldn't do it. Also I was doing swing trading and I lost most of what I had because of the pandemic and a lack of experience. But by the time I lost everything, the massive loan I took to fund my trading was paid off. So Im back to where I was before I started. So now im looking to get back in and automate my day trades.
I think that it is possible to be profitable swing trading. But taking on a loan to trade, especially when you’re in the red is risky business brother, be careful out there and best of luck 👍
@Coding Jesus Pretty well articulated..Do you think the strategies that involve stock predictions/pattern recognition through AI & Machine Learning also fall in the same category or is that a different field altogether?
This is a massive generalization on stats, there are a lot of factors which in these stats aren't given context. Its a field just like a lot of fields where 1% are highly profitable. It requires discipline, hard work and yes chart time staring at a screen just like software development. It is in fact a productive field because theres other factors such as learning markets which plays a role into a serious trader. This is a biased take and that was shown when you said the mental patient example.
I would argue that learning how to trade is one of the greatest skills you can have if you know how to do it correctly.
you nailed on the main reason why day trading fails, and it is not because it is impossible by itself, but rather because of natural human emotions that prevents us from being profitable (greed, fear, etc).
It is true 99 percent of people lose money. But that beinf said those who actually put in the work and learn to trade and properly manage risk.. Can and do succeed.. it is not a get rich quick scheme it is not gambling.. but you can make decent returns if you put in the work
It is about finding an edge and understanding that nothing is given.. there is no holy grail.. and that nothing is a given.. trading in probabilities, and maintaining a good risk to reward. Does however equate to consistent returns
@condingjesus1 what?
You forgot to add that if you have an edge and proven strategies that work then continue trading....
yes
if you have magical powers use them sure
@@elpachanga it doesn't take magical powers to trade. Ask people who've won trading championships more than once
That's assuming they are *actual* edges and actual "pRoVeN sTrAtEgIeS" using rigorous scientific and statistical computational studies and testing and not just being fooled by randomness like, "oh I used this strategy and it made 10 trades and I made 10,000 dollars from it, therefore it must be working!". LoL
Here's a hard reality check: you can't ever "prove" anything with 100% certainty. If science could do that, then wow! There's a Nobel Physics Prize at the end of the rainbow waiting.
@@VOLightPortal markets are not ramdom lol.
But what I want to know is are you quant traders more profitable than day traders? I mean it all comes down to who’s making money at the end of the day and nothing else. If you make more as a quant trader good for you but if traders are also finding profits via day trading then good for them as well.
Day trading is not for everyone, but its definetly for me. Investing is not worth my while right now.. and I dont feel comfortable holding anything over night to swing trade. I only trade SPY options and take at least a 20% profit everyday. 20% would be a sideways correcting market so profits are smaller. Sometimes I can trade the range 2 to 3 times and and get between 20 to 25% 3 times within a that day. But I take what the market gives me.
still doing? 20% a day too much, how much is your risk per day?
@@pauloTx I trade options too and the risk for that profit level can vary depending on probability, entries, profit margin and stoplosses. I can say that I never collect 20% on the 1-2 trades I take in a day, but have seen 3% several times on 1-2% risk. I get nervous if I risk more than 5%, so I doubt I ever see more than a 10% return. I'm not ruling it out, tho. If I ever get good enough probability, it could outweigh the risk, but that is a big IF. YOLO trading is just gambling, and since our friend never replied, I have to guess he blew his account out here recently risking higher %'s and got caught. Everyone that puts on large risk gets caught eventually. A strategy will work until it doesn't. The most successful traders in the modern era have their stories on learning this the hard way, nearly all of them lost a fortune before they made a fortune.
he lost everything@@pauloTx
with a $10,000 USD account, in 252 trading days you would make: 10,000 * (1.2)^252 = 8,98,82,26,41,83,60,96,16,626 USD. Eighteen quintillion nine hundred eighty-eight quadrillion two hundred twenty-six trillion four hundred eighteen billion three hundred sixty million nine hundred sixty-one thousand six hundred sixty-two dollars.
Obviously your profits would dwindle as your capital would start to deplete top of book liquidity due to compounding. So let's assume your equity curve begins to flatten once you reach 15 million USD(a reasonable estimate since the SPY option chain is very liquid). This would take you roughly 40 trading days.
Lets assume that when you said 20% you were talking about gross profit. Lets say that after all taxes, commissions and brokerage fees you take home about 15%. Your account would reach 15 million in approximately 52 trading days.
After a not-so-thorough analysis of the mathematics surrounding your trading statistics, there are two possibilities:
1) You are the smartest, richest, most powerful omniscient being to walk this planet.
2) You have an undiagnosed mental disorder.
I have been saved! Thank you Coding Jesus! 🙏
Isnt what most of quants do is run algos that day trade?
Great advice, focus on discipline and cutting lost quickly.
i started as a day trader, switched to swing and position trading very quickly, day trading is in-optimal imo for making money in the markets
What are your thoughts on the forex market?
I personally think day-trading is more suited for it, and buy-and-hold strategy is more suited for blue-chip stocks.
I found my first edge in forex with an intra day strategy
First of all, if you are following a "guru" to learn how to trade everything in this video is correct. But you are acting as if all the characteristics/skills of a good trader mentioned aren't worth or even possible to learn over time. And while I'm guessing you are talking to the people out there who are into trading for the money to act like some rich douche bag on social media, there are many who enjoy taking it seriously as an actual job. It may be a little different from sitting at a computer writing code and making youtube videos all day like yourself but to say that you gain no knowledge and have less productivity than a mental patient seems like a pretty ridiculous way of putting it. "You aren't learning about business"? Your entire job is literally based on your understanding of economic markets enough to be able to profit off them. People who are profitable are rare but at one point had started their career right where people who are watching this are today, just saying
good point
I agree
Correct
Agreed
I respected this guy's channel until he started shitting on day traders for no reason. He's having a superiority complex in this video.
You are absolutely correct 💯
bravo jesus!! well explained....
👋 i hope u see this question please: its a bit weird. I use bill William indicators. No problem with that. I want to know why its working? It come from fractal geometry. Why its working everytime. And why market always travel a distance that is half of previous distance? On any brake out of previous high or low. Price always go half distance.
Many of us are attracted to the kind of "cold hard truth" that this guy seems to provide, possibly because it gives one the feeling that they are different and possess niche knowledge. Unfortunately, what he is saying in this video can easily be debunked with some fact checking.
You should differentiate between niche knowledge and actually having more than 50 IQ to realize that technical analysis is subjective and self-fulfilling, and that short term market fluctuation is random. Put 50 chartists in a room and they will all bring their favorite tools that are each different, subsequently producing different speculations. And you expect TA to work and reconcile the market’s movement? Not to mention most retail traders fail to design their own programming strategies, let alone manual charting.
@@jqueryadvocate2405 I stopped taking you seriously when you tried that cringe internet comment section nonsense by bringing up IQ. I'm not your guy for that type of nonsense. Goodbye sir.
@@jqueryadvocate2405 it is not random but.... whatever.
u are the truth! love how people claim to make it day trading on TH-cam and get back to losing money in real life
most traders are making money from courses and TH-cam channels and NOT from trading
This guy is so pompous. "If I can't do it neither can you." And calls himself Jesus to boot.
😂 true
Learn day trading in simulation, to get to know the ropes.
Then get into algorithmic trading.
No stress, no emotion. Just set it and forget it.
80% of the volume of the day is by algos and there is multi-billion industry behind it. Algos are written by people. So people behind those algos are making a ton of money. So how come you are saying day trading is not profitable? The problem is not day trading but the discipline, retail traders simply do not follow their system as algos do.
Excellent point !!
so what is a quant trader? isn't he basically an automated day trader?
Hola Jesus, Can you explain why scratch languages are preferred for quant trading rather than product languages like MQL or AFL?
Product languages only connects to the Broker's API and not directly to the exchanges.
First reason is that pros don’t use the softwares using MQL or PineScript or whatever.
Second? Generally those languages are very high level which mean they are slow.
Languages like C or Java etc are more portable and more convertible to another languages that can be run on FPGA which is the norm in HFT.
Hope this helps.
Yeah, okay so like can you also make a video about baking a good chicken mushroom pie, seeing that you're willing to step out of your lane 😂
As being a trader it's right that people are clowned by lifestyles and fake dreams. Realistically It's much harder than you imagine.
its all about where you take your earnings next my friend, there's people who played the market for 2-3 years, then never touched it again and are doing productive things now
I get the feeling anything that doesn't work out for this guy is not productive for everyone else.
what your title really ought to be is Risk management in retail day trading. People who learn quickly end up making money fairly consistently.
loved the last part of the video
100% true, false dreams; once you get into the cage there is no way out...until you wither off... so candid and straight from the heart... all the more the channel and the creator has a “theme” alignment (integrity) is itself a proof enough
Yeah, I was watching a TH-cam with some stuffy British investor, who said people often simply don't enjoy making money, they aren't driven to do it after all. Yeah, what if it turned out - making money was actually not a personal quest but actually following some very simple instructions, and playing a very simple game that isn't new, the firm or etc. has researched how it works to the extent it can be done, and etc.
SIR, Which support is more likely to hold-- A) one with fractal support Or B) one without fractal support?
Which support is more likely to hold A) fresh recent support--not tested before Or B) Support which has proved successful being tested many times before?
Which support is more likely to hold A) where price spent little time before being repelled away successfully Or where price spent a lot of time before moving away?And I Seek your wisdom on these life & death questions.
Wtf??? Who are you and why do I see you literally on every trading video
day trading might not work,but swing and position trading works
Very interesting video! I've been really interested in HFT since I read the book flash boys and even though the book was heavily biased I enjoyed the story it told. I think day trading and forex are very similar in how they are sold by "guru's" to people paper chasing. Just wondering, did you get into coding/computer stuff or finance/investments first?
Finance. I have a video on how I learned to code which explains everything.
The whole market is fractal. Doesn’t matter what TF you trade. POI, rule of 30, LTF entry. I trade 15 min and enter on the 30s TF. I can trade the 4H and enter on the 8min. Daytrading is super possible, but hard to find your edge with everything you can find out here like indicators or RSI and fundamentals. You want the sauce? Structure>SnD> DMB or wyckoff confirmation. That’s it
@@blakeguthrie6246 hey interesting comment, what is snd, dmb
Question, how do firms like fidelity or goldman make money so often? I know they use algorithms but how do algorithms make money if prices are so random?
I can't speak for those two firms in general, but if you Google "Algorithmic Trading Strategies", you'll know. And none of their strategies rely on charting. Look into “Risk Arbitrage” or “Statistical Arbitrage” for example.
I think they just buy a lot of share and takes the price up and after sell
Agree. On the last point, thas is the need of learning to code.
Agree with >70%..
It takes several years to be consistently profitable.
You can't play professional football, baseball, overnight too.
It takes more money and sacrifice than most people realize.
So whats your return ?
People using the word Guru's , fake Guru's
Man this word guru is a very valuable word try using some other word, here in India when we consider someone our guru their value is above us above our family 🙏
5% take the money of the other 95%.
I beg to differ on your premise but you are right for 95% of the people.
Your view of day trading seems pretty biased and short sighted. Top DT’s will always massively outperform any quant trading algorithm you could ever conceive of. But I’m glad you’re scaring off a fraction of the people who just aren’t cut out for it. Entertaining videos Coding J! 👍✌️
I was just about to mention the same. In order to really get a feel and approach consistency, you have to have skin and years in the game. Trading for a month or a few years doesn't provide you with the skills needed. overall the markets are based off of emotions, if you know how to exploit it and mange risk while doing so, then success is right around the corner. ALSO avoid None liquid stocks.
Swing and Investment trading is less stressful and more lucrative for 95% of traders. Learn to be patient and use Covered Calls for income. Most people who want to be a Day Trader would be better off starting a business and learn how to invest and think longterm.
Thank u c.j.! Had to be said😣, don't day trade!
@Coding Jesus Can you please share where you got the stats from? Thank You in advance
Very true about day trading. Based on my own experience.
@condingjesus1 i just won lottery this summer. dont need to trade anymore!
my models tell that most people can't last 5 years. 1700 funds close 2019, 2020, like wise 1700 new funds. you need teams, deep mathematics
You do not need mathematics to trade lol. You just need a good understanding of the markets and a sound risk management strategy.
Making things complicated is why you all fail. Lol, I am a Finance graduate and I have never ever applied deep mathematics into trading. I made 20000 last month trading natural gas lol. I am consistenly profitable.
My secrets? Stop complicating things. You do not need mathematics ok lol. How will I apply mathematics to natural gas ? Lol it is just demand and supply.
What you described trading out of their current predicament is essentially what happens when someone gets a line of credit at a casino because they know their odds are better in the next hand of poker. The reality is just like the market, it ain't gonna be in your favor.
This is sadly the truth. I've been there. Spot on. No ifs or buts.
So true. Maybe the solution is learn code for do backtest better and don´t loose time.
But what if you're profitable?
same as gambling
Profitable doesn’t mean alpha generating. I can be profitable and still underperform the benchmark.
You're telling the truth..
You got the knowledge but lack the nuts to go all in 😎
great video 🎉
And how about those of us who can spot HFT signatures on 1min timeframes & are capable of following institutional order flow.
I can respect your outlook, although I must say that the way you discredit day trading as a career because it does not involve meeting people and networking is kind of looking at it from the perspective of an extrovert, as an introvert myself, i was drawn to trading precisely because i would not have to deal with people.
Thank you so much for sharing your knowledge..
In your videos, you speak a lot about eye issues and demantia being linked to looking at the screen for too long. Can you elaborate on that?
I totally disagree because you do not need to be highly correct in day trading even a 30% winrate with risk to reward of 3:1 you will make profit. I have data to back that up.
why are the odds against you as a day trader? why is it not zero, but negative?
Day trading is hard especially when rules are implemented to hold down retail investors such as PDT. Hedge funds want retail investors out of the market and you work for one. So you are pushing their agenda very politely by saying YOU WILL FAIL.
PDT isn't that big of a deal, although I think it a bit silly to able to trade futures all day long but not stocks as futures are highly leveraged. Get a cash account. Trade until your BP is spent, and let that be your daily limit. Or trade futures, although that market space is quite competitive and the moves are harder to understand IMO.
Hi, Thank you for an awseome video. Can you plase make a video about how someone with no trading knowledge get into trading? I am a software engeneer, and would like to know more about trading and how it really works, but I want to study from valid and useful sources, not from some random internet "gurus". If you have any recomendations(book, course, channel) I would greatly appriciate it.
Disagree with you Mr CJ, the issue always is not with trading or the time frame that a trader opts for... Success or failure entirely depends on the trader and not the style of trading...
I have a hard time believing that there is no such thing as a trader that is profiting from skill and not just random chance. I agree with you fundamentally but I still believe there is edge in the market and that it can be exploited
Edge exists, but it doesn't exist in reading patterns from a chart. To state that this is possible is to believe that the market is not even weak form efficient, which is provably and empirically incorrect. I have no doubt that a trader can make money in a bubble of time (just like I can make money betting of red on the roulette table), but this does not mean he/she can generate consistent alpha over time.
dude, instead of paying the day trading guru, pay the quant trading guru. you'll feel smarter...
There are many of us traders who identify HFT signatures on LTFs and are able to capitalize. The entire market is an algorithm. Day of month , day of week, time of day all are taken into account or when the market will consolidate, expand, reverse. Daily lows and highs can be predicted with extreme accuracy as well as weekly highs and lows.
@@CodingJesus THE EFFICIENT MARKET HYPOTHESIS is WRONG,all the so called "EVIDENCE" for it is cherry picked,any evidence against it(WHICH THERE'S A MOUNTAIN OF) is labeled an anomaly,if you rationally think about it's assumptions they are actually ridiculous,Market participants are not LOGICAL they are EMOTIONAL,every participant has their own intentions and processes incoming information from different perspectives. There are day traders who consistently beat the market over a long period of time,it's not luck it's an edge(obviously not from technical analysis). OUTPERFORMING THE MARKET IS NOT IMPOSSIBLE IT'S JUST VERY DIFFICULT AND MOST PEOPLE WILL NEVER ACHIEVE THAT ENDEAVOUR.
Become a day trader then and see how that works out for you.
thanks for sharing.
Hei! Coding Jesus!! Can you make a video on Intellectual Property protection such as protecting the code, the quant strategies, from going outside the firm or traders misusing and trading on their own. Also on compensation types, % profits, base pay etc???
If all day traders leave there will be no fucking liquidity in the Market.. just because you make losses doesn't mean it's impossible to do so. I can show 300+ families that are earning their livelihood from day trading
So, do you use the automated trading strategies developerd for your clients/employers ?
great. will consider this.
Where were you 10 years ago. I lost so much money trying to day trade. Also, a friend of a friend killed himself due to Forex.....
So how those guys from Market Wizards book did that?