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Yes you can make money day trading, but I think that few people
do. Its hard to teach people how to day trade successfully
because for the most part, if they could learn, they
already would have.
Most people just are not smart enough, disciplined
enough, or have enough capital, or enough guts.
There are alot of different ways to be successful, and
you have to fail alot before you learn a good consistent
strategy. If you try to teach it to somebody, they always
screw it up trying to change it, going down the same rat
hole I already did.
I found a simple strategy based on momentum, and stop
and profit exits. I try to take 50% of the ATR of the last
n days and bail. I exit on a loss of about 33%
of the ATR but my system is 60 - 80% accurate so I
consistently make money. I do about 100% a year,
but I trade around $150K - $200K on 2x margin.
I think you need $100K or don't bother.
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