How Do 5% of Day Traders Earn Thousands of Dollars a Day
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How Do 5% of Day Traders Earn Thousands of Dollars a Day cynthia bates 10-06-2007
Posted by cynthia bates on October 6, 2007, 7:30 am
Are you one of the 95% of Day Traders who loses money instead of
making it?
Every weekday, literally thousands of traders give up and close their
accounts, exhausted, drained, and beaten by the relentlessly changing
markets. Like you, those traders have forked out their hard-earned
cash on books, systems, and courses, all promising to tell the big
secret - how to start raking in easy money.
But those courses and manuals with their lofty claims of profit, all
seem to end up teaching the same old trading setups. Sure the words
might be a little different from one manual to another, but the
patterns and indicators are the same, tired old setups that have been
flogged to death over the years.
You begin to wonder if it's even possible to make money from day
trading, or if the whole thing isn't one big scam designed to relieve
you of all of your savings as quickly as possible. But still you keep
on battling on, determined to find a way forward. You won't be beaten
by it because you know that when you finally find something that
works, day trading will reward you with unlimited freedom!
http://daytradegs.blogspot.com/#


Posted by 704set on October 6, 2007, 7:44 am
How Do 5% of Day Traders Earn Thousands of Dollars a Day

They put millions into a money market fund.

704set

> Are you one of the 95% of Day Traders who loses money instead of
> making it?
> Every weekday, literally thousands of traders give up and close their
> accounts, exhausted, drained, and beaten by the relentlessly changing
> markets. Like you, those traders have forked out their hard-earned
> cash on books, systems, and courses, all promising to tell the big
> secret - how to start raking in easy money.
> But those courses and manuals with their lofty claims of profit, all
> seem to end up teaching the same old trading setups. Sure the words
> might be a little different from one manual to another, but the
> patterns and indicators are the same, tired old setups that have been
> flogged to death over the years.
> You begin to wonder if it's even possible to make money from day
> trading, or if the whole thing isn't one big scam designed to relieve
> you of all of your savings as quickly as possible. But still you keep
> on battling on, determined to find a way forward. You won't be beaten
> by it because you know that when you finally find something that
> works, day trading will reward you with unlimited freedom!
> http://daytradegs.blogspot.com/#
>



Posted by Doug on October 6, 2007, 11:04 am
The reason day trading is a losers game is two fold. 1) Commissions
and 2) spreads

Take $50,000 and buy every morning and sell every afternoon. You buy
1000 shares of stock at $50 a share for $10 commission and $.02 spread
(per share). The spread comes to .02 x 1000 =$20. You sell for the
same expenses. So you have daily expenses of $60. There are 200
trading days a year, so you incur $12,000 in trading costs per year.
This is 24%!!!! This is the "house take". The odds are against you.

The reason long term investing works is you buy and hold for years.
The market goes up over time due to increased standard of living and
increase in population. The odds are on your side.

No one can predict the future. Current stock prices take into account
all known events pretty efficiently. It's pretty hard to beat the
averages. But one way you can at least equal the averages (minus a
little), is to keep your trading costs very low and invest in the
broad market. Then take a little bit of your kitty and try and find a
growing stock if you can. One comes along for me every 10 years or so.
Even so, it's hard to beat the market. But the market does pretty
good. Ten percent a year is a healthy return. Even one percent adds up
to quite a bit.


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