How many monitors do I need to be a good day trader?

How many monitors do I need to be a good day trader?

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1

0.618

There's literally no reason to be a day trader.
Unless you're in a hedge fund or financial institution, you don't have access to any exclusive or proprietary information so every single one of your trades is a gamble. You can read WSJ or whatever and think you're informed but banks have entire research teams in constant communication with their trading desks and other institutional investors.
Every major player has access to this information and they're what drives the market. Whatever you do at home as a day trader is essentially just gambling, and it never works out seeing how no one has been able to beat the market over am extended period of time.

This. Just put the money on a few good, stable REITs and reinvest the income

unless you are a security researcher and you know when something "stock shaking" is going to happen. also carefully looking at news can get you more than you think, some people made a really fat buck buying supermicro sinked stocks when the chink hardware implant story was bullshitted in the news by bloomberg.

also, as many monitor as you can afford/deploy, maybe you dont need them all, but e-penis is important.

>no one has been able to beat the market over am extended period of time.
If you know your instrument well, then you know when it is cheap and when is expensive. I'm not day trader, I do 1-6 trades a month, but still get some nice eastern european euros

This is nonsense. There is literally billions of volume in any given stock or cryptocurrency at all time. These people aren't buying and selling randomly or based off the few news events, there are consistent patterns that make money. The majority of people fail at day trading, but the majority of people fail at a lot of things that are achievable.

People dismiss daytrading because 75% of people are unintuitive. They want to bury their head in the sand and pretend they can't improve their life, or do anything other than manual labor.

FYI, there's a whole board dedicated to the ins and outs of that:

>There is literally billions of volume in any given stock
not sure what this even means. Billions invested in a stock? That's only true for companies that are worth more than a billion. And market cap isn't a good measure of liquidity, as there are even stocks in the SP500 that are harder to trade than others.
And whatever "billions" you're referring to, is the money of a few huge institutions, like banks, hedge funds, insurance companies, pension funds, etc. Individuals have no pull over the market whatsoever because they're just too small.

>The majority of people fail at day trading
Not the majority, everyone. Find me a single day trader that has beaten the market for more than 15 years.

>Find me a single day trader that has beaten the market for more than 15 years.
me

Billions in volume means that people are buying and/or selling billions of dollars worth of a stock/cryptocurrency. For example Bitcoin has about 20 billion dollars in volume each day, which means that assuming 100,000 active day traders, , on average they're trading with a considerable 200k dollars back and forth each day. There is way too much volume and not enough news events to make that happen, it happens because of patterns. Patterns that can be caught and analyzed.

I myself have beaten the market over a few years, and there are a few people who share how they do it but it's not common because you don't want to reveal your secrets obviously. Philakone is the only one I even listen to because the rest seem to be much more stupid.

Crypto is different from actual financial instruments, user. All crypto sans Bitcoin is fundamentally a pyramind scheme
>devs make coin cheap
>hype it up
>retards buy it
>price rises
>devs sell
>wash their hands of the affair

Yes, you can make money taking advantage of retards, but then you're not daytrading, yoy're just getting in on a scam.

about tree fiddy

There is no hard limit, simply the more the better. 2 is better than 1, 10 is better than 2, 1000 is better than 10, etc.

What you just described isn't a ponzi scheme and that is literally what happens regularly with stocks in the fortune 500. CEOs constantly sell their own company. Also, if you can day trade Bitcoin there's no reason you can't day trade anything else whether it be commodities or stocks.

biz will just tell him that day trading is a scam and that technical analysis is astrology etc, and beg him to buy Link.

ok Mr Cardone sir u r the sales thx u

You are not a day trader. Exactly what they are saying.
You would be retardef to do multiple trades a day and hope to beat the market.
So you are smart and do 1-6 a month on things you actually have a deep understanding.

I work at a front office of a big bank and we usually use 2. But it all depend what you're doing. I've seen people with 6 monitors.

>no proof

>a few years

Are you in trading? I'm currently in school with an internship at a bank, but since it's just a state school I feel like my avenues to starting in front office have been closed off. Do people switch from back office to trading or banking frequently? I've been talking to some people in my bank and they said a move is very possible at around the 2 year mark.

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Are your quotes meant to mean anything? Do you disagree that day trading can be profitable? If so, why?

I disagree that a day trader can beat the market over long term. You can certainly be profitable, but when you're investing you usually have a benchmark to beat, and that benchmark isn't a flat line.

the Link part is way too true.

By the market Im assuming you mean total market cap? That is still beatable, a lot of people day trade without ever touching fiat so they are always holding Bitcoin (which has ~50% dominance) for example while buying something else for a short period of time before swapping over.

If by long term you mean 10 years+, the S&P 500 only went up by about 300% in 20 years which is very beatable just by day trading stocks. It's possible to beat the market over literally any period of time if you know what you're doing when day trading.

what I mean is that if day trading is profitable at all, then there's no reason you can't also beat the market. You can still hold a stock for example for the majority of the time while swapping to day trade a few times which would logically be more profitable.

I manage portfolios of whales, yeah people can move from the middle to front office time to time but it all depend in which bank you're working.

>very beatable just by day trading stocks
Find me a day trader who did it. It would make headlines if someone beat the SP500 over 20 years.
You can't do it as a day trader because hedge funds and banks can't do it, and they have teams of researchers and quants backing them up every step of the way. An individual investor reading news headlines stands no chance.

Again, show me someone whose done it over a period of 15+ years. It definitely is possible in theory, but you're basically gambling everytime you make a trade and no one can keep that up for so many years.

>day trader
>day
holy fk user, you're on Jow Forums and you're not doing ALGORITHMIC TRADING?

Currently at Barclays, and I've talked to a couple of people who have made the jump and they said it's doable, but you need to start meeting with the teams you want to be on and basically wait until there's an opening.

London ?
Hello neighbor ;)

The S&P is very easy to beat as I said. This person made headlines as you said but he made quite a bit more than 300% in less than 20 years.
timothysykes.com/blog/the-day-trader-who-turned-13600-into-153-million/

en.wikipedia.org/wiki/Timothy_Sykes
If this doesn't make it obvious to you that it's more than just gambling I don't know what will.
This is literally what you have to believe if you deny that day trading works
>Millions of people are just buying and selling thousands of dollars worth of assets each every day based solely off of news or randomness
>There are no patterns to the price of anything
>Day trading bots can't and don't exist
I'm sure there are people who have day traded successfully for 15 years but I'm not going to bother looking just to satisfy an arbitrary time span.

no, new york

So 1 person did it? Sounds like gambling to me.

No, as I said 300% is not much in the stock market and there is billions of dollars worth of volume each day, you asked for one example I actually gave you two. I seriously have to ask, do you seriously think there's no pattern to the price of anything?

Yes, believe it's all luck.

S&T at a bank sucks though doesn't it? Nothing like the kinda stuff they do in prop trading firms and hedge funds.

Yeah they can only trade as counterparties or on behalf of clients

wow 2 examples, brb daytrading

Are there 'traditional' prop trading firms left? Or are they all algo/HFT now?

With something as theoretical as technical analysis there is no way to measure its sucess objectively. It's true that studies show that the majority of traders lose money as I said, but that doesn't mean that it's impossible. Take just this apple chart I just made quickly, you have to be an ignoramus with your head in the sand if you can't see the pattern. It consistently bounces off the 0.382 or 0.618 levels every time. Pure coincidence right?

And all that volume? Just idiots being scammed. All those trading bots? Scams. Hedge funds? Pfft they are just random bro. Why do charts even exist am I right?

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traditional firms are being pretty swiftly pushed out completely over the last 10 years, it's all quant funds now

not all are algo though, there's still plenty of manual traders

Sell low buy high

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Hedge funds literally are scams. They make money on commission and fees so don't really care that much about performance. Same deal with banks, they make a spread on their trades so they don't care about actual performance as much as they should.

How are they supposed to get commission and fees if they don't perform well? This is the logic of a socialist when trying to argue for wage theft, they literally can't into abstract concepts such as ownership or profit.
>The bosses just hire people they don't actually contribute anything1!!1

Stay poor loser. Swing trading cryto it's possible to make 5% gains per week

Also possible to lose 10% in a day.
Crypto doesn't even belong in the discussion with serious financial securities.

no true scotsman is not an argument.

I do know of a few whove beaten the market for an extended period of time (not sure if its 15 years or not but its been at least a decade), but thats because I work for a company that is dedicated to it.

working for a company is different than being a day trader. Like I said originally, you will have access to information no regular person would.

If you don't have a neuro-interface by now, you shouldn't bother day-trading against us.

The best hedge funds are private at this point, trading 100% the founder's money. The only reason why Bridgewater, Renaissance and Citadel are open to the public is because people really, really want to invest in them. But their best portfolios are employees only.

Well since all successful traders fail against "the market" and it's just completely random im going to short them!! easy money!!!

I could give you some tips.

So can I. Hire a bunch of literal geniuses and have them do signal processing all day.

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Day trading is literally gambling. You might need professional help if you seriously think otherwise. I've watched many friends lose all their money gambling on options plays and day trading bullshit the microsecond robinhood came out. Learn from other idiots, dont become one.

JIM

Jow Forums is a zoomer-infested crypto-only board these days. Avoid at all costs. Even their /SMG/ threads are shit. I'd rather be on fucking reddit browsing WSB.

>he's a nolinker
How does being poor make you feel ?

Poker is gambling, trading is not

no need. you can lose all the money you want with just one. if you are so confident you will make money, buy a new monitor when you make enough profit for one.

Crypto day trader here. Depends on your method. I use two monitors - current timeframe chart + long term trend chart on the main monitor, then a custom calculator + trading window on the 2nd.

Looking to add a 3rd monitor, since I'm a very TA/indicator heavy trader. If you just play long term trends on a single market, you can get by with 1 monitor. 2nd is helpful, more is mostly "I have spare money."

This is also good advice. Unless you're already profitable, don't waste money on extra shit.


BONUS ROUND: If you're new to trading, spend 100% your trading time learning risk management before you jump in. Then spend the next 100% of your time paper trading & learning. You most likely won't be profitable until after a year or so of consistent trading, so start very small.

Have fun going broke

>The S&P is very easy to beat as I said.
Looooooolllllllllll

>crypto day trader

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>Since I can't do it, NO ONE can!

1 monitor with resolution 1366x768. I've made millions.

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