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Not really difficult. It's just that most people marry the same way most people trade. They pick a loser and then clamor for advice on how to turn it into a winner. Pick a winner in the first place and you don't have those problems. Then if you're telling yourself, "I did pick a winner and...

Yep... it all comes down to the fact that China is just now realizing the situation they've gotten themselves into. It is quite similar to the US banks. To a certain point the creditor enjoys the control. This situation holds true until the debtor owes so much that payment in full becomes an...

Something that might be a bit more useful would be recent images of such locations. Google Earth is hardly representative. For example, my neighborhood doesn't show up on Google Earth even though it's been there since 2008.

Since inflation targeting has little to do with realized inflation, how is knowledge of an arbitrary target more beneficial to the investor than simply using some variation of historic long-term inflation? IMO, neither are at all accurate in forecasting real future inflation, so using either...

The costs that I mentioned are actually considered discount in the industry, and are only available through boutique shops. Any of the larger firms will cost you much more. You could setup a simple domestic fund for around $15K legal fees but the administrative fees are a monthly expense...

If you look through my old posts it is apparent that I know pretty much all the "fancy" things that can be done with options. I'm not against them, just think that about 75% of guys who trade options should be trading e-minis instead. They just haven't realized yet what they are giving up.

Ditto

He's already got $5MM AUM and on paper there isn't much difference between $5MM and $20MM. Both are considered small funds. Likely scenario seems to be that he might get a conventional fund started 3 years down the road with a 2/20 and about $50MM. I'm assuming he is talking annual returns of...

Heech, That is a horrible deal for both sides involved. The industry standard 2/20 is much better for everyone. Also, I agree with your point about not needing the leverage addition. Futures are already leveraged. To look at this from a leveraging standpoint is absurd. Depending on...

Pretty much what I was alluding to in my post that you quoted.

I stopped trading options spread because of size and a couple other factors. Futures made everything easier and cheaper.

Yes, and in business terms we are saying that the service is "non-value added". As a regular course of business most companies seek to eliminate as much non-value added process as possible. You mention retailers operating on 100% non-value added concepts. That is absolutely true. Imagine...

I agree completely, but those asking the advice aren't necessarily seeing it that way. If I were to tell a prospective trader to write a business plan for his trading I would probably get a pretty good chuckle from of the result. In reality, when you first start out in trading, your business...

It wasn't your comments in particular, but comments on that thread in addition to others. Seems like nobody wants to be realistic that it really does take a certain type of person to become a career trader. Certain skills can be learned obviously, but many cannot. And as much as people want...

Your rebuttal was so far off base you really should consider the opposing points before you start. You claim that a trader can advertise for additional capital. Not the traders we are talking about here. We're talking about those who are struggling to even make it into the black. Yeah...

Wow, I'm impressed by many peoples' ability to selectively pick out parts of what they assume is the point that I was making and then criticize without at all considering the overall scope of the argument. It's ok, my wife accuses me of selective hearing sometimes too. But I do get a...

Now you are getting there!!! That's the point!!! The trading methodology is backwards. People rarely elect to start a business venture when they are completely unfamiliar with the method for success. They choose an industry they are already skilled in. This increases their chances...

That's one of the points from the original post. If you perform a cross section of new traders, the group is wildly diverse. Filled with people who don't have and will never have the personality or talents to trade successfully. In most businesses a person knows before hand whether he...

Because I have a ton of experience in both teaching how to run a successful business and teaching how to trade. Give me a group of 100 entrepreneurs with a conventional business idea and a group of 100 new traders. For every one successful trader there will be at least five successful...

You're operating on a false premise that under all circumstances risk is equally proportionate to reward. That's not simple stats, it's flawed stats. Two opportunities for equivalent gain do not necessarily carry equivalent risk. That is precisely why we have stats like sharp ratios. In...