Why I don't day trade (as a quant developer)

This is a massive generalization on stats, there are a lot of factors which in these stats aren't given context. Its a field just like a lot of fields where 1% are highly profitable. It requires discipline, hard work and yes chart time staring at a screen just like software development. It is in fact a productive field because theres other factors such as learning markets which plays a role into a serious trader. This is a biased take and that was shown when you said the mental patient example.

I would argue that learning how to trade is one of the greatest skills you can have if you know how to do it correctly.

This is genuinely an incredible video. I think EVERYONE who wants to day trade needs to watch this video. At the end of the day day trading is gambling. Its literally playing a casino, but in some cases WORSE if you start writing open options.

Listen to this guy now - or you may waste the next 3 years in a tortuous cycle of never ending "best strategy" 🤠

you probably grow a beard better than you day trade, and you speak like a google psychiatrist

I think nobody goes into the mathematical reason why it does not work. Just imagine if you're going for 10 pips/points. With a one pip spread You only need four points away to lose in six points are needed to win. That, commission, and the nature of chaotic movement that can trigger stop losses even when you are right make it significantly less than 50 50 odds

good man!

Another one of your dead videos where you brag about being a quant developer. No one cares.

I don't know if trading works in the long run but you must agree that the statistic you provided is incomplete. That's like saying 90% of people that started XYZ course weren't able to complete it. But that statistic is incomplete because it doesn't tell you how many people took the XYZ course seriously or just to try it out for fun or out of curiosity. And how many people out of the serious people were able to complete the XYZ course. If you download a mobile game that has some kind of ranking system you will see that 80% of players have a very low score. If it takes 2 hours to get 205 points in the game and 80% of people didn't get it, it creates a distorted view on the probability of getting 205 points.

In my opinion it is a great money making tool, allowing you to focus on other aspects of your life while also hedging from tyranny which you may be vulnerable to when you have no money.

It is frustrating to see a guy like you because you couldn't be more wrong. It is false you couldn't live from day trading. I have done that for 3 years and now I do automated trading because I know which patterns worked for me and which ones I could automate and have an edge. All that is computable and could make sense statistically. Please remove this video!

Learn day trading in simulation, to get to know the ropes.
Then get into algorithmic trading.
No stress, no emotion. Just set it and forget it.

I can respect your outlook, although I must say that the way you discredit day trading as a career because it does not involve meeting people and networking is kind of looking at it from the perspective of an extrovert, as an introvert myself, i was drawn to trading precisely because i would not have to deal with people.

So 3000 to 25 million in 18 months, what happens to the 25 million in another 18 months of the Walter Mitty's daytrading? 12% weekly compound interest every week for 18 months on initial $3000 investment = 20,000,000. In another 18 months with this compound interest rate he has $138 billion. In another 18 months he has $952 trillion.
Don't give those charlatan's your money, people.

Oh man... Is there really so cold ?

Day trade is not for everyone especially for the weak. You need to have a strong mental and strong discipline, the point of trading is not sitting on your computer for the whole day. I earn profit in 40 min or stay cash if i don't see anything and done for the day. Do whatever I want during the day whether reading book or spend with family. I would say 95% of day trader fail and lose money. Definitely not for the weak. I agree with the video tho

Pretty weak arguments honestly. Just change "daytrading" to "starting a business" and you have what everyone will tell you if you try to start a business. Daytrading is such a funny thing. You've got obvious scammers telling you how to 10000x your money in a year. Then you've got guys like this (also, in my view, liars) who tell you daytrading is completely impossible and nobody makes any money.

1. discipline
2. Cut your losses
3. Be humble and accept the situation
4. Don't be greedy or jealous

Takes one to know one. It's like salmon swimming upstream. 0nly a small percentage will make it.

You are not a normal guy..you write algorithms for trading so why don't you do day traiding

Write me a winning algorithm. I mean that’s your job right?

I am a consistently profitable scalper and daytrader. I make about 100% interest per month. I also teach free lessons and give signals.

so in all of your videos, all what you have done is made valid points against day trading and technical analysis and all that. But then you never say what's the alternative, how to trade? What to trade? What to do, etc.?

You are absolutely correct 💯

Value investing is better then day trading

I’m part of those 7% of people haha

so what is a quant trader? isn't he basically an automated day trader?

I have been saved! Thank you Coding Jesus! 🙏

Also you're strongly opionated and biased (or just your colleagues primed you so you don't take their job..) as when you have the institutional data (order flow, DOM, cum delta and footprint) from the futures exchange it's not that difficult..

By the way work on the buy side of the industry

His math isn’t adding up. “40% leave within the first 2 months, 80% leave within the first two years…” 80+40 = 120 😂,

I've been trading since I was 15 years old. I'm a software developer now. Developing various trading algorithms. You can make lots of money as a day trader but only if you can function like a robot. My advice - just get a robot ;)

And how about those of us who can spot HFT signatures on 1min timeframes & are capable of following institutional order flow.

Day trading do not contribute nothing to society, but HFT does? Yeah, sure. It is the same thing, just on different scale.

Yes 99% traders loose but have you tried it?

Best cheering ever😂😂😂

You talk about being against day trading yet you also say you build community in discord about day trading

you nailed on the main reason why day trading fails, and it is not because it is impossible by itself, but rather because of natural human emotions that prevents us from being profitable (greed, fear, etc).

My recommendations for day trades: Go be a nurse 🤣

what about swing trading ?

forecasting in single day is impossible

SIR, Which support is more likely to hold-- A) one with fractal support Or B) one without fractal support?
Which support is more likely to hold A) fresh recent support--not tested before Or B) Support which has proved successful being tested many times before?
Which support is more likely to hold A) where price spent little time before being repelled away successfully Or where price spent a lot of time before moving away?And I Seek your wisdom on these life & death questions.

5% take the money of the other 95%.
I beg to differ on your premise but you are right for 95% of the people.

Mmyeah, you're wrong.

Of course you'll never be a successful day trader..You don't have what it takes. If you did, you would not be designing the software for it.

If all day traders leave there will be no fucking liquidity in the Market.. just because you make losses doesn't mean it's impossible to do so. I can show 300+ families that are earning their livelihood from day trading

In other words, don't try to something that the vast majority (90-95%) has failed at. Don't take the risk to learn what the 5-10% of successful traders did. Get a "secure" job with some company that took a risk in order to succeed in their industry. Then try to work your way up the ladder to a better-paying position as you move towards retirement.

LMAO! You said that in day trading we aren't learning anything new, and just simply sitting in front of computers! Then what do you think software engineers and coders are doing?

What is your definition of day trading? Synonymous with retail AND using TA?

This is me but I cant stop till I've traded my self out of debt or commit suicide

Speed of access to the information, reacting to it, sending orders, trading costs, and your position in a DoM queue matters if you make trades frequently (that's true in case of day trading). Basically, you will have the worse conditions comparing to any HFT firm, so you will be just a source of profit for them and loose your money most probably