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Dandaman
LSU Fan
Louisiana
Member since May 2017
239 posts

Do brokerage firms have access to data showing the best day traders?
If so, it would seem their employees would have access to winning "playbooks" that they could use to get rich.

For example, lets say some IT guy at E-trade knows how to identify daytraders and their performance statistics. Once he does that, he can simply follow their trades and make money himself (or design an algo to accomplish this).

Am I missing something or is that entirely possible.


WarCamEagle
Auburn Fan
Member since Jun 2011
2042 posts

re: Do brokerage firms have access to data showing the best day traders?
We can see your daily, weekly, monthly, yearly trading performance going back the last 7 years.

90% of day traders are losing money day trading or performing worse than market.

I guess its possible, doubt it happens.

I work for E*TRADE



Dandaman
LSU Fan
Louisiana
Member since May 2017
239 posts

re: Do brokerage firms have access to data showing the best day traders?
Will you let us know if you spot a winning strategy? LOL.


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70
barry
Cincinnati Fan
Location, Location, Location
Member since Aug 2006
47835 posts

re: Do brokerage firms have access to data showing the best day traders?
quote:

Do brokerage firms have access to data showing the best day traders?



Past performance is not indicative of future results


AUHighPlainsDrifter
Auburn Fan
South Carolina
Member since Sep 2017
221 posts

re: Do brokerage firms have access to data showing the best day traders?
quote:

Past performance is not indicative of future results


No sir, but consistent positive past performance is indicative of someone that knows WTF they're doing.


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80
cgrand
New Orleans Pelicans Fan
HAMMOND
Member since Oct 2009
22590 posts
 Online 

re: Do brokerage firms have access to data showing the best day traders?
quote:

90% of day traders are losing money day trading or performing worse than market.

is this hyperbole or is this really accurate?


arcalades
LSU Fan
USA
Member since Feb 2014
13920 posts

re: Do brokerage firms have access to data showing the best day traders?
quote:

is this hyperbole or is this really accurate?
very accurate. the market exists for the sole reason for the haves to take money from the lesser haves. The tutes can and do manipulate the system just like casinos. basically all of commerce exists for this purpose and the middle class and lower class keep playing right along on every level.


GreenRockTiger
LSU Fan
Member since Jun 2020
260 posts

re: Do brokerage firms have access to data showing the best day traders?
Is there a book or a guide that can be read about this? I’m interested in trading but it also seems very scary.


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Pendulum
New Orleans Pelicans Fan
Member since Jan 2009
4687 posts

re: Do brokerage firms have access to data showing the best day traders?
quote:

the market exists for the sole reason for the haves to take money from the lesser haves.


You make it sound like some insurmountable obstacle. All you need is 300 bucks to start getting better gains over the long run than the majority of day traders. Enough to buy one share of VOO or QQQ, No insider knowledge required

That's how I started investing personally when I was 17 after reading a jim cramer book (Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer)) before I knew who jim cramer was. Life isn't presented to 99.9% of people on a silver platter; and it never will no matter what system you are in as long as we are talking about humans. Even if you inherit a great sum of money, you have to take some type of initiative to get gains on that money.

This post was edited on 7/29 at 5:02 pm


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jangalang
West Virginia Fan
Member since Dec 2014
16656 posts

re: Do brokerage firms have access to data showing the best day traders?
quote:

very accurate. the market exists for the sole reason for the haves to take money from the lesser haves.

Well then why all the bitching by billionaires about the robinhood traders? Kodak rising from penny stock status to 50 dollars in 24 hours is proof that the have nots are loading up.

I think 90% is high. I know I’d quit if I lost at that rate.


AugustaTiger
LSU Fan
Augusta, Georgia
Member since Dec 2017
315 posts

re: Do brokerage firms have access to data showing the best day traders?
quote:

We can see your daily, weekly, monthly, yearly trading performance going back the last 7 years.

90% of day traders are losing money day trading or performing worse than market.



This is fascinating to me.


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10
frogtown
Georgia Fan
Member since Aug 2017
585 posts

re: Do brokerage firms have access to data showing the best day traders?
quote:

very accurate. the market exists for the sole reason for the haves to take money from the lesser haves. The tutes can and do manipulate the system just like casinos. basically all of commerce exists for this purpose and the middle class and lower class keep playing right along on every level.


So you are saying the market is rigged against the poor and middle class. What a moronic statement. Day trading doesn't work because it is a bad strategy. Long term investing, putting money into a tax deferred account, buying low expense ETFs or the SPY or the QQQs, and then putting $$$ away yearly over a term of 40 or so years will almost guarantee success. That is available to everybody...rich, middle class, poor it doesn't matter. Work hard, grind it out, save, invest, compound your money is pretty simple.


Tigers4life
LSU Fan
North Carolina
Member since May 2004
1493 posts

re: Do brokerage firms have access to data showing the best day traders?
quote:

Day trading doesn't work because it is a bad strategy.


This is good advise for most but not true for everyone. A successful day trader can make 8-10X the average returns of the sp500...fact.


oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
29230 posts

re: Do brokerage firms have access to data showing the best day traders?
quote:

Well then why all the bitching by billionaires about the robinhood traders? Kodak rising from penny stock status to 50 dollars in 24 hours is proof that the have nots are loading up
it's proof were at the end of the bull market. It's like every value stereotype to get out of the market going off at once right now


Jag_Warrior
Virginia Fan
Virginia
Member since May 2015
1679 posts

re: Do brokerage firms have access to data showing the best day traders?
quote:

This is good advise for most but not true for everyone. A successful day trader can make 8-10X the average returns of the sp500...fact.


True. But they're called unicorns for a reason. Over the years, I've just not seen nor read about many who had consistent long term success.

The ones who come on here typically think that they can do it and do it well because they've scored some nice gains this year off Twitter hot tips, yet they don't know or have never heard of a Level 2 screen. I wish them well (I'd like to see everybody make money), but let's talk to them in five years.


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Mr Perfect
Lamar Fan
Member since Mar 2010
14334 posts
 Online 

re: Do brokerage firms have access to data showing the best day traders?
no we're not at end of bull market.. please stop lying


oklahogjr
Arizona State Fan
Gold Membership
Member since Jan 2010
29230 posts

re: Do brokerage firms have access to data showing the best day traders?
I'm not saying we are or we aren't but surely you've seen that the market is priced for perfection while reality is kind of a shite show. This is a sign in value investing.

I am a believer that were seeing unprecedented market interference so as long as that's there you don't have the fallout from reality yet. Fed keeps printing and government supplying checks were probably ok.


jangalang
West Virginia Fan
Member since Dec 2014
16656 posts

re: Do brokerage firms have access to data showing the best day traders?
quote:

I'm not saying we are or we aren't but surely you've seen that the market is priced for perfection while reality is kind of a shite show.

The market has been heavily insulated from the economy. That is for sure.

I don’t understand what you mean specifically by value investing, but I agree we are in very much a bull market which is another reason why I don’t think you can fail at daytrading right now. If money and PDT rules were no issue I could easily make a quick 3 candle stick scalp on at least a handful of movers each day. In August the stock market will probably dry up but I’m sure SPACs will dominate the talk again.


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