Is daytrading nice ?

Here's what trading legend Larry Williams said about day trading: "If you're day trading, you're going to end up frying your brain. When you go home, you're not going to be a nice person to be around. I'm already not too a nice a guy to be around. So when I do a lot of that type of trading, who would want to be around me?

"All the day traders I talk with are losing money. The oscillators, the supposed support and resistance levels, all that other technical analysis stuff out there doesn't work very well in day trading. Plus I found I make more money by holding overnight and trading out of positions in the next day or two. If I've really got a strong signal, it should last for more than a few hours."

Gary Smith is the only person with a documented long-term success record in day trading. He made money consistently for over ten years. However, he trades relatively infrequently, maybe once or twice a week. "Successful day trading is not an everyday affair and not a multiple trade affair," he cautions. "Inexperienced day traders simply refuse to accept this." Gary's book, published by Reality Based Trading, is called Live the Dream by Profitably Day Trading Stock Futures.


If you want to be a successful trader, your best chance is with a long-term. If you must day trade, don't do it very often. The more you trade, the more likely it is you will lose.