by Summary:
The only profitable short term traders have an edge, and you don’t have an edge.
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Mike Norman considers the following as important:
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The only profitable short term traders have an edge, and you don’t have an edge.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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| The only profitable short term traders have an edge, and you don’t have an edge. |
I just told myself this morning that I’m done with this short term day trading crap. Longer term is the way to go definitely. Thanks Mike
Thankfull not subscriber . It took me 6 years every day. ( more then 10k hours to get consistency on the market. I agree with every word. Only 7 people on a 1000 makes it as a trader. It’s tough. Here is but. I have my age I do listen to your videos because it gives my more confidence in my positions I only trade from 1 and 5 min chart and only nasdaq and Dow. So if one placeing the trades because of the video recommendations it’s a bad idea. But if you place the trades and keep in on the sticky note what Mike is Saying for that period of time or even day I will strongly recommend the video for day trading. Thank you for the videos.
Same here. If I had to start over, I'd go into commercial real estate or something else. Trading is tough. 10 years later. I'm doing pretty well, but it was painful getting here.
I needed to hear this today. I finally deleted all my stupid crypto apps and have focused on DCAing into solid companies that will benefit from fiscal policy and macro trends.
Thanks for the guidance, Mike. You saved me a lot of anguish stopping me from doing the day trading. I am only trading long term.
Came for the title, stayed for the wisdom. Thanks Mike!!!
Ummmm. Hmmmmm.
My friend, I have a query? So I've been going through the fiscal service website. As you've said, in the Oct – Apr time frame YoY, the deficit is actually $70B lower. The deficit for 2023 was $1.694T. However, the estimated deficit fit 2024 is actually larger, $1.859T. So here's where I'm going with all this: given that the deficit for the fiscal year thus far is only around $800B, doesn't that mean we are looking at about $1.0T transfer to to the non-govt over the next 7 months? That would be pretty 👍
we really appreciate you, Mike.
Most new traders start as day traders, then they learn if they're smart. The only time I make a short -term (5-7 days)trade is if the trade goes drastically wrong(crashes) and I get stopped out.
i did that short term trading for bout 10 yrs and did nothin but lose my ass. patience is the key to it all both gettin in and out. need action? buy 5 shares at a time gettin in as it falls. sells calls, if your stock falls pretty hard supplement it buying 1 call that goes out a yr or more. that's how i fixed my ass in last 7 yrs.
I have been reliably informed by numerous youtubers that daytrading is the only way to go.
From $7K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
I agree just reached my goal of $500k monthly trade earnings. Setting realistic goals is an essential part of trading
Please educate me, i'm willing to make consultations to improve my situation,
Sonia campbell. understanding of market indicators is impressive. She knows exactly when to enter and exit trades for maximum profit. her siignals are top notch
She's recognized as 'Mrs sonia campbell. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Sonia campbell
The software has never been better and more advanced. The bid-ask spread in futures is as liquid as it gets. The problem with day trading, is knowing where and when to engage at objective price levels that function as support and resistance. Does the last low or high, hold or break ? What information does VWAP provide. There are so many strategies out there, reversal, trend following, correlations. I have to disagree with this one.
I'm in discords with full time traders, sharing real live money accounts, trades, and strategies. It is possible. The software, and all the charts that you have to watch has a very long learning curve.
Traders don't even need that much money to trade anymore. They pass a prop eval, and get funded, and given a rule set.
Mike, with all respect, I think you may not be aware how retail trading has evolved.
99% of those who call themselves “traders” are simply gamblers. I do believe you can have a profitable trading system and that could be your edge, but making a living out of it is something 1 out of 10,000 traders can achieve.
You hit the nail right on the head.
❤👁
Thank you
Great video. I realized this when GME started pumping again. The usual suspects started to say it's back to the moon at $60-70 and now it's back down to sub $20.
This video will become a classic
Mike, I don't think you understad options at all. This video is sort of a big "fuck you". Who exactly is your audience? The guys managing their 401K?
Mike we like your general videos for a “point of view” but it’s simply all math. Day trading or short term swing trading can be extremely profitable for building wealth. You’re positioning as if there’s only one way and it’s your way. Sounds a bit arrogant – albeit entertaining.