Daytraders After Market Lounge 15th Nov, page-17

hehe - heard some of those before, eh?

I've told this story before but might repeat it for the benefit of newer players on this thread.
Shortly after I joined this thread, I started an Excel spreadsheet and populated it with all the predictions made during the course of the day. I knew no-one and I knew nothing about trading, so I thought this might help me form some ideas about what gets posted here and the people who do the posting.
This was very laborious. I went through all the posts, especially the ones which were worded with those "going bunta" terms you mentioned I wrote down the name of the poster, the stock, the price when mentioned, the price at end of day, the price one week later. Some of the best research I've ever done.
The result? Over 90% of the price prediction posts were wrong. Simple as that. Over 90%!
In fact, it is so rare that when someone gets a price prediction right, the chances are you will never hear the end of it (at least for a while)
Another thing which might be worth watching out for is the "if it goes through 2.5, then the next target is 3.5" comment. For the unwary, this might be interpreted as meaning that the price is going to go to 3.5. Nope. Or at least, it might, but might take 6 months to get there. This is really two separate statements which are being conflated into one. Might make sense on a Fib chart, doesn't mean a thing necessarily for a DTer or STer.
One reason I don't want to DT anymore (apart from the fact I've got a job now) is that I don't want to get caught up in all the emotion of DTing. This will vary for everyone, of course, and I realize that a lot of you trade whilst at your paid office job (!), but one of many things I have realized about myself is that I tend to make more bad decisions when I get emotional.
For you DTers, I reckon one of the very best skills you can develop is keeping all that emotion in check, especially when you are reading the hype/hope/hypocrisy of *some* of the posters here.
Yes, we are all adults, DYOR blah blah, but it's not easy.
If you can successfully DT over a span of a few years, then you are a rockstar in my opinion. All the best!