Day Trading Your REAL Chances Of Being A Profitable Day Trader
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What are your REAL chances of being a profitable day trader?
Do you want to make day trading profits?
Day trading for beginners and other day trading strategies from fake gurus on YouTube claim to make you a lot of money.
Learn how to day trade. The best way to day trade is to NEVER day trade at all.
Check out these 2 day trading studies:
https://drive.google.com/open?id=1Tbd...
Day traders LOSE money (an average of 15% a year).
One study from Brazil compares day trading to gambling and indicates that buying day trading courses and gaining "experience"\\xa0 yields WORSE results.
97% of day traders lost EVERYTHING and only 0.4% earned more than a bank teller.
When factoring in commissions, virtually EVERY trader lost money
The other study from Taiwan indicates that only 500 out of 360,000 made money consistently.
359,000 out of 360,000 LOST money.
The top 500 (out of 360,000!) made ONLY ~5% a year above simply holding an SPY index.
You could beat that by simply holding SPY and selling covered calls
Day trading is a scam. Day traders are fraud victims.
The higher the frequency and shorter the duration of your trading, the higher the likelihood that you will lose everything.
The Sao Paulo School of Economics commissioned a study that tracked a total of 19,646 day traders from 2013 through 2015. The data was broken down into bite-sized chunks to better understand the data.
The first group of day traders totaled 1,111 individuals that day traded only a single day. Of this group, 29.8% achieved a profit.
The second group of day traders totaled 9,978 individuals that day traded between 2 to 50 days. Of this group, 15.5% achieved a profit.
The third group of day traders totaled 3,100 individuals that day traded between 51 to 100 days. Of this group, 8.9% achieved a profit.
The fourth group of day traders totaled 2,738 individuals that day traded between 101 to 200 days. Of this group, 6.8% achieved a profit.
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The fifth group of day traders totaled 1,168 individuals that day traded between 201 to 300 days. Of this group, 5.4% achieved a profit.
The sixth group of day traders totaled 1,151 individuals that day traded greater than 300 days. Of this group, 3.0% achieved a profit.
What does this data suggest?
Ironically, the data suggests that the odds of achieving day trading success is nearly identical to playing roulette at a casino.
The more you play, the greater the likelihood that you will lose everything.
The social scientists were particularly surprised to discover that \\u2018learning\\u2019 played nearly no part in the results.
For instance, it was assumed that if a person had traded 6-months and 200+ trades, that they would learn to trade better or improve upon their trading strategies to achieve greater success because they were \\u201clearning from experience.\\u201d
And this is just what the trading educators want us to believe\\u2026that we need to \\u201clearn\\u201d and over time, this \\u201clearning\\u201d will improve our results.
But the data absolutely destroyed these assumptions. In fact, the more a person \\u201clearned\\u201d to trade, the worse their performance became. It seems like \\u201cpractice makes perfect\\u201d does not work in day trading Futures markets.
We all know that some folks, through luck or skill, are going to achieve success. Let\\u2019s take a look at those figures now\\u2026
The first group of successful day traders totaled 17 individuals that earned an average of $16 per day.
The second group of successful day traders totaled 8 individuals that earned an average of $54 per day.
The third group of successful day traders totaled 1 individual that earned an average of $310 per day.
But here is the sad part\\u2026of these successful Futures day traders, the standard deviation of their daily profit ranged from $632 to $3,308.
What does that mean?
In other words, in order to consistently earn $80 per day, you would also have to experience massive daily fluctuations of between $632 and $3,308.
And based upon the data, only one person was able to earn more than a minimum wage job.
For those 1,151 day traders that persisted 300 days, 97% lost all of their money once commission was factored in.
Even the highest performing trader that earned an average of $310 per day ended up barely profitable once the commissions were factored in. How sad are these numbers?
In conclusion, the study stated that \\u201cIt is virtually impossible for an individual to day trade for a living, contrary to what the brokerage specialists and course providers often claim.\\u201d
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