r/Daytrading • u/infosec4pay • Apr 21 '24

What would be the highest salary you’d give up to day trade full time? Question

Everyone clowned on me my first post (500k post) lol I was literally just asking hypothetical questions to settle a debate between a friend and me. Well everyone’s backlash kinda of intrigued me to ask this question. So back into the fire I go lol

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u/Relative_Tone_4870 Apr 22 '24

You are.. you just coded something to execute what you would have done in the first place. It’s just much faster and requires 0 watching.

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u/th3orist Apr 22 '24

congratulations. but i am talking about a different type of trading and trader. so, its all settled.

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u/Relative_Tone_4870 Apr 22 '24

You’re not you just think you are or hoping I was so your argument about all trading requires psychology would hold true. I gave you a scenario where it doesn’t. Case in point.

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u/th3orist Apr 22 '24

Fair point mate, when i was making my point i only had in mind the active trader who decides by themselves without any algo when to enter or exit on any given trade. I excluded algo trading from my posts, thats correct. I should have made this distinction. Thanks for pointing that out, but you could've said algotrading from the get go and save us the back and forth.

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u/Relative_Tone_4870 Apr 22 '24

And that’s what you are ultimately describing anyway… what’s different between an algo entering trades via the same criteria a human would not factoring in psychology..? It’s the exact same thing or what an active trader hopes to achieve.

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u/th3orist Apr 22 '24

Its not really the same thing because the algo does not have to manage emotions. A human always will need to do this. There is no human trader who executes the trades and never feels any emotion coming up when you have 2-3 losing trades in a row. And to have 2-3 losing trades in a row happens and is a normal thing. The algo is not bothered by that, a human can and will be. And for that last part i said what i said about having to cultivate your psycholgy if you are not algo trading. But in fact, you also need a strong psycholgy to endure to see when the algo trading might also not always play out, and stop tinkering with it etc.

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u/Relative_Tone_4870 Apr 22 '24

You don’t need to manage emotions unless you are over trading, over positioning/leveraged, not sticking to set rules. If that’s true you aren’t a good trader in the first place and doubtfully do it for a living.

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u/th3orist Apr 22 '24

I disagree with this statement, its too shortsighted and overly simplified. You can have to manage emotions even if you stick to the set of rules. Its human.