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Never had an issue with that. It's pretty easy to justify it because most people would love to make hundreds to thousands of dollars per day BUT in reality most people cannot deal with the day-to-day constant risks associated with the POSSIBLE rewards of active trading. I think when you're...

I don't understand why anyone with aspirations of becoming a successful trader would take the advice of a failed trader -- unless you're talking about how not to trade and how not to think.

crgarcia, In college, my only concept of trading was in holding positions for a few days to a few weeks at most (that was after my neighbor introduced me to William O'Neil's book and I stopped reading that damn Graham & Dodd book that got me nowhere fast). I figured it was impossible to...

It's a rare to encounter someone that is successful that spends a lot of time telling other people why they will not be successful. Usually motivation-killing advice comes from people that have failed --- except for the honest people that realize that because they failed to succeed in an...

Anonymous paper trader? Great assessment --- seeing that everyone on here is essentially anonymous and that I've been a full time prop trader ever since I graduated college almost 4 years ago. It doesn't and it shouldn't cost anyone $50,000 in losses to figure out how to trade or that...

I would recommend that you read a few books like the Market Wizards Series, one of the Micheal Covel books on trend trading, How To Make Money In Stocks by William O'Neil, a Thomas Bulkowski book on chart patterns, a book or two by Ari Kiev and/or Brett Steenbargar, and I do recommend that book...

Honestly, I don't know how vital my job is for price discovery but cumulatively speaking in terms of all traders out there you're probably right. As far as the probability of individual success as a speculator, you're pretty much right again...but you should have said for MOST individuals...

Right. Investors never ever lose money they just stare at unrealized losses. If you hold something long enough eventually you'll be positive in it. (sarcasm implied)

I'm in my 4th year as a career daytrader and I have to say it isn't an easy job by any means because just when you've got the hang of a market, the market can/will change. Adapting is the name of the game. Trading is challenging because you have to balance conviction with the flexibility of...

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ why are you here?

you seem eerily similar to that loser Port that disappeared from these parts some time ago

none of this really matters much if you're there to trade it...they destroyed earnings estimates and I knew I should've hung around and waited for them to report earnings....costly mistake on my part

exactly. positioning seems foolish. planning isnt a bad idea however.

I guess you need to try to become more social.

You want to convince your wife? Make money.

Where do you find lumber/timber prices?

Volume trends are very relevant in high frequency scalping as well as trend analysis.

I understand that the futures trend tonight is not indicative of tomorrow's open. But while what was happening was happening, the futures remained positive. That was my point. Unfortunately I cannot elaborate further on the action that occurred because it is an issue of integrity within my...

That was some weird action. I don't remember seeing anything like that before. It was mostly oil & gas, REITs, and a few banks as well. Hope it was some guy/manager unloading a few positions for personal reasons. The futures were positive last I checked.

The Market Wizards Series - showed me that success was absolutely possible Any of Ari Kiev's books regarding the psychology of trading, Hedge Fund Masters in particular was a great read. I have his newest release on pre-order on Amazon. The Jesse Livermore biography was great. How to...