learn to short term trade..
forget day trading (is correct), although trades may last less than a day..
i only trade (and have for some time now) the emini sp 500 market.
i bought the (esh09) this morning at 851.00 on a limit order, the market proceded to rally after my entry to 859.00.... it failed at that point and i exited at 854.00
good thing, we sit at 849.00 now..
this afternoon could get ugly...
Ice i highly suggest learning to trade.... millions of legal dollars at your fingetips..
forget day trading individual stocks, it takes too much money and this market is in the toilet for a few years..
trade the indexes, you can make money going up or down, you just need it to move...
im out for the remainder of the day but would be glad to discuss this, if you like..
i have traded since 1996 (off and on) but the interest here is almost non-existent, might as well be talking chineese..
fish likes to dabble in the grains but im not sure of what he is doing..
good luck to you..
SSI
forget day trading (is correct), although trades may last less than a day..
i only trade (and have for some time now) the emini sp 500 market.
i bought the (esh09) this morning at 851.00 on a limit order, the market proceded to rally after my entry to 859.00.... it failed at that point and i exited at 854.00
good thing, we sit at 849.00 now..
this afternoon could get ugly...
Ice i highly suggest learning to trade.... millions of legal dollars at your fingetips..
forget day trading individual stocks, it takes too much money and this market is in the toilet for a few years..
trade the indexes, you can make money going up or down, you just need it to move...
im out for the remainder of the day but would be glad to discuss this, if you like..
i have traded since 1996 (off and on) but the interest here is almost non-existent, might as well be talking chineese..
fish likes to dabble in the grains but im not sure of what he is doing..
good luck to you..
SSI
hno:I see a lot of the similarities and think it could be exciting one day. I have read many books on the subject and have a decent feel for how I would approach it if I ever got into it.
I have really been thinking a lot lately why I bet sports, is it cause I really love sports and that isnt really the truth. I bet sports cause I love numbers and I have learned to play this game from years of studying it, etc... In fact the whole sportsbetting thing is just a bunch of numbers and statistics that I have been able to use to beat by hard work and passion for it. It really has nothing to do with the actual games and being a sportsfan.
As far getting into the financial markets, that isnt happening for a while. Two reasons for that.
One is my sportsbetting is going even better then I ever expected in a million years and my days are way too full but moving money and the like can be a huge mess with sports and that is so much easier with the financials, it may one day push me over the edge. Plus how if you beat sports you dont get the respect that you get from others when you beat the financials. Not that that matters much to me but the whole legitimate investment thing does make the financial market appealing to me also.
Number 2 is I have no idea how to play the financial game and until I am 100% convinced I am playing with an edge I wont even attmept it. I am not a gambler type at all. I dont like playing things just for the sake of playing it. I think I would need to watch and learn and be 100% convinced that one day i could do the same before I even look into it, I have said the same thing with poker. If someone took me under their wing and taught me everything then maybe I would get into that but until then I have no real interest in playing and most likely losing money, which most likely would happen. I know how hard it is too win at any of this type stuff and feel there would be a huge learning curve and a long time till maybe winning one day but like I said one day it is something I want to look into when I have a lot of extra time to pursue it.
I have really been thinking a lot lately why I bet sports, is it cause I really love sports and that isnt really the truth. I bet sports cause I love numbers and I have learned to play this game from years of studying it, etc... In fact the whole sportsbetting thing is just a bunch of numbers and statistics that I have been able to use to beat by hard work and passion for it. It really has nothing to do with the actual games and being a sportsfan.
As far getting into the financial markets, that isnt happening for a while. Two reasons for that.
One is my sportsbetting is going even better then I ever expected in a million years and my days are way too full but moving money and the like can be a huge mess with sports and that is so much easier with the financials, it may one day push me over the edge. Plus how if you beat sports you dont get the respect that you get from others when you beat the financials. Not that that matters much to me but the whole legitimate investment thing does make the financial market appealing to me also.
Number 2 is I have no idea how to play the financial game and until I am 100% convinced I am playing with an edge I wont even attmept it. I am not a gambler type at all. I dont like playing things just for the sake of playing it. I think I would need to watch and learn and be 100% convinced that one day i could do the same before I even look into it, I have said the same thing with poker. If someone took me under their wing and taught me everything then maybe I would get into that but until then I have no real interest in playing and most likely losing money, which most likely would happen. I know how hard it is too win at any of this type stuff and feel there would be a huge learning curve and a long time till maybe winning one day but like I said one day it is something I want to look into when I have a lot of extra time to pursue it.
Ice, I would suggest you just start doing it with a small amount of money. Read up on the fundamentals of the economy and bet, I mean, invest accordingly. Don't worry about day trading at first. Maybe take just a couple hundred dollars and watch how your money works. Notice how the price of a stock may streak up only to have a correction and then continue streaking.
I am like you, I love the numbers and love understanding why they move like they do. Financials reminds me so much of sports betting. You bet on how a certain condition will finish.
For example, I read where an analyst from Barclays Capital said there could be a lower price on oil because deflation was still in play.
http://www.therxforum.com/showthread.php?p=6362544#post6362544
I had seen how the price of oil seemed to have been temporarily higher than previously. Therefore I thought oil would go down and posted the stock that would pay off if oil went down (which it did).
So you see, it's not that much different than finding the conditions of a sports contest. Give it a try.
One more thing, like you mentioned money is so much easier to move in financials than in sports betting. You can move 10's of thousands of dollars with the click of a mouse just like Neteller days.
I am like you, I love the numbers and love understanding why they move like they do. Financials reminds me so much of sports betting. You bet on how a certain condition will finish.
For example, I read where an analyst from Barclays Capital said there could be a lower price on oil because deflation was still in play.
http://www.therxforum.com/showthread.php?p=6362544#post6362544
I had seen how the price of oil seemed to have been temporarily higher than previously. Therefore I thought oil would go down and posted the stock that would pay off if oil went down (which it did).
So you see, it's not that much different than finding the conditions of a sports contest. Give it a try.
One more thing, like you mentioned money is so much easier to move in financials than in sports betting. You can move 10's of thousands of dollars with the click of a mouse just like Neteller days.
As a professional gambler with an interest in the stock market, I am intrigued with futures trading and its similarities with the live betting at World Sports Exchange. Automatic futures trading programs have long been available with the stock market. With the day-trading phenomenon I would imagine that they work, but I do not have any first hand experience. Many of the futures trading programs enable you to run mathematical equations such as a Monte Carlo system that can test various buy and sell strategies on historical prices. For me, what is fascinating is that all of these tools are now available for the wsex exchange (name withheld so as not to appear as a promotion). As a math guy, I understand the theory, but I am hoping there are some here who can provide their opinion.
I would assume that the actual exchange characteristics are similar between wsex and real futures trading - neither market is entirely predictable. As such, strategies are based on the movement of the contract price. I suppose that with historical prices you can test strategies such as "buy at $50, sell at $100 or $20", or "buy after a price drop of 20%". Whatever the system you think up, you would have a chance to test it on real data. I am sure that there isn't a "Holy Grail" of strategies, but probably hundreds with varying risk and profitability.
Based on the above, I am trying to find reasons why these would not work. If there are profitable systems out there, you will have the resources to find them. Can it be that there aren’t any profitable systems because of the unpredictable markets? I suppose, but if the wsex exchange is similar to real futures exchanges, and if these tools work in real futures trading, then they should work at wsex.
In any event, this seems very interesting. I am hoping to hear what others think.
I would assume that the actual exchange characteristics are similar between wsex and real futures trading - neither market is entirely predictable. As such, strategies are based on the movement of the contract price. I suppose that with historical prices you can test strategies such as "buy at $50, sell at $100 or $20", or "buy after a price drop of 20%". Whatever the system you think up, you would have a chance to test it on real data. I am sure that there isn't a "Holy Grail" of strategies, but probably hundreds with varying risk and profitability.
Based on the above, I am trying to find reasons why these would not work. If there are profitable systems out there, you will have the resources to find them. Can it be that there aren’t any profitable systems because of the unpredictable markets? I suppose, but if the wsex exchange is similar to real futures exchanges, and if these tools work in real futures trading, then they should work at wsex.
In any event, this seems very interesting. I am hoping to hear what others think.
Ice, I trade stock options right now and reading I felt like there was a camera in my office. Actually, I think I remember that day, I got my ass handed to me, but options are different. You should look into options trading.. you can control your risk and find more market inefficiencies than with stock(block orders, guys didn't cancel in time, etc..). With that said, I see the value in sports gambling mostly because of the way you can hide the money from the IRS, but there are a lot of similarities. Can anyone tell me of a good NCAA capper?
One more thing: the new 'binary options' at the CBOE, Chicago Board of Options Exchange, function like a sports bet.. meaning you collect on whether the condition is true or not at expiration. The only thing that varies is the price you pay for the contract as the underlying moves. This is very similar to sports gambling.
Just started day trading about 6 months ago, after mostly basket trading with options for the last few years
I'm convinced with discipline , you can make money
so far my win percentage is high, but I have taken some big losses wiping out most gains
I'm still working on it, but. I believe the key is buying power, patience, and proper scaling
transaction costs are a big factor , and of course unless you have at least a 25k acct, you are subject to the Pattern day trading rules
there red are some very good day trading rooms out there can be helpful as well
I'm convinced with discipline , you can make money
so far my win percentage is high, but I have taken some big losses wiping out most gains
I'm still working on it, but. I believe the key is buying power, patience, and proper scaling
transaction costs are a big factor , and of course unless you have at least a 25k acct, you are subject to the Pattern day trading rules
there red are some very good day trading rooms out there can be helpful as well
