Recent content by thesniper

The truth about this industry is that Brokers, Exchanges, and vendors like TopStep Trader are heavily incentivized to MAKE YOU LOSE. Because After you Lose: 1 You trade more (which means more commissions, exchange fees, combines, etc.) in an attempt to get "even". And the more you lose the...

If were to hire a trader to trade then I would present two options: 1 One trade a day. All In/Out. Wait for STRONG trends where it doesn't even matter where you enter you make money because the trend is that strong. 2 Put on 100+ trades a day doing mean reversion scalping in/out via scaling...

Another analogy is the only people that 100% make money in the markets are the buy and hold forever investors (preferably in ROTH IRAs or 401ks) and market makers that hold for like 1 second. Trading any timeframe in the "middle" is just brutal. And you can put brokers/banks in the category of...

I feel the only two paths to profitable trading is you either put on 1 trade a day or 100+. 1 If you put on 1 trade a day then you very carefully plan out the day and the trade with your stop and profit target and once you enter you let the trade go. Whatever happens reflects how well you...

This is an investment in the Internet of Things.

As far as what I did before - I was in accounting and financial reporting. I tried to get back in the field and was told by recruiter I would have to start at the bottom (which means near minimum wage). I told him I don't even mind starting at the bottom because I know I can prove myself but...

The highest quality income is from rent/dividends. This type of income is Extremely High Quality because it lasts forever and can be passed down forever & don't have to do any work - its totally passive income that can be earned in perpetuity. Income from a real business is also high quality...

I do have a degree (Econ/Finance) and I got a dead end job for 36k/year out of college. A coworker had an MBA and was making 50k. And this was 10 years ago, its a worse situation now. Now you need to graduate from a top 10 school + have postgraduate degree + have a strong network to get a...

1 There are no chronicles of great daytraders because there just is no skill there to build. There are lots of chronicles of great investors, money managers, and speculators. All the great investors/speculators and all the greatest trades are about finding vastly asymmetric risk/reward...

Well I'm finally done with daytrading. I have almost 10 years trading experience. I probably would have never become a trader if I could've found a decent job out of college. But then I got sucked into to trading propaganda. Then I got addicted to the action and the dream. Now that I know...

Technically true but a gain automatically creates a tax liability of at least 30%. And after living expenses you're probably not left with much unless you're trading huge size.

Every time you lose money in trading that loss is permanent - it disappears from you life forever. Lets say you lose 1k - you will never see that 1k ever again in your life. You may think (via cognitive dissonance) that you can always recover by making a 1k profit on the next trade but you...