I'll start with my first tip. Day trading is for suckers, you are playing against some of the best and fastest algorithms made by some of the top financial engineers out there. It's not rigged, you will win some, but overall you will lose in the long run I don't care how fast you are or your computer is, you will never be fast enough to sustain that in the long term. Let me know what you guys think and I'll spend some time on this.
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Oh wow! Im impressed day traders can stay alive with supercomputer algorithms perfoming actions. Goes to show the depth of economics.
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They say only 1% of day traders actually make it. I think it's closer to 5%. Keep in mind a true day trader takes there money and puts it in and take its out no later than the next day. If a trader holds for a week or so that's a swing trader. Very different ball game. Also it's not just about holding L's, for example, the computer will be able to get a better price in and out, so when the human wins, he wins and loses more. money.
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