Vince Stanzione: Why Day Traders Never Win Long Term. Everyone likes quick results but in trading it is normally the trades that build over time that give the best results. The only people making money out of day traders are bookmakers, software companies and pharmaceutical companies that produce ulcer tablets. In my 24 years of being in financial markets I have never met anyone that has made money over the long term by short term trading FX, stocks or commodities.
With all the labour saving devices, computers, mobile phones and the various “time saving” gadgets why is it that most people never have any time or are always in such a rush? In a society which continues to strive for instant, quick, real time, disposable and easy goods and services it comes as a shock to many that I continue to make massive profits from taking a longer term view and a rather simple trend trading approach.
Everyone likes quick results but in trading it is normally the trades that build over time that give the best results. The only people making money out of day traders are bookmakers, software companies and pharmaceutical companies that produce ulcer tables.
Vince Stanzione: Why Day Traders Never Win Long Term. When the Dow Jones Index was first calculated in 1896 it was disseminated once a day at the close.
In 1923 the price was released every hour and in 1963 the price went real time. In 2006 we have a 24 hour price thanks to Globex, Financial Bookmakers and the Indicative Dow quoted in Germany. Many still think that the switch in 1923 to hourly prices helped to fuel the 1929 crash.
While progress and technology should be embraced in many cases understand that quicker is not always better, microwave food may be quick and easy but does it taste that good?
Daily prices and weekly charts still work best. For my own trading 99% of my trading ideas come to me at the weekend when everything is shut.
A good tip to make money in any financial market is work on the “less is more” principle. Sometimes the best trades are the ones you don’t make.
Vince Stanzione: Why Day Traders Never Win Long Term. Vince Stanzione is a self made multi-millionaire based in Europe. He now lives most of the year between Spain and Monaco and trades his own funds mainly in currencies and commodities. As well as trading he also teaches a small number of students and produced the best selling course on Financial Spread Betting. He is also the author of “How to Stop Existing & Start Living” to learn more go http://www.fintrader.net

Vince Stanzione is a self made multi-millionaire based in Europe. Started at a junior at the age of 16 for Nat West Foreign Exchange in London he worked his way up in before leaving to start up his company. He has been involved in various companies including mobile communications, premium rate telephony, Interactive gaming, publishing and television and financial trading. He now lives most of the year between Spain and Monaco and trades his own funds mainly in currencies and commodities. As well