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I would categorise trend following as a momentum strategy. So you have momentum or MR. i.e. long or short volatility.

Apologies, reading back I see he was talking about Open/Close trading, thought he meant trading in General.

Do you have evidence that "trading is significantly more competitive than 3 years ago"? Or is it just another baseless uninformed opinion we see on here every day?

The argument for trading one instrument, because you can get to know how it moves and master it seem bogus to me, especially on an instrument that is highly liquid. Think of of trading like trying to capture water from rain in a bowl. Trading one instrument is staying in one place watching...

I'm sure Phil's site is making at least one person a profit.

I agree with you, but what if the actor quitting was trying to proclaim that no one will ever make it as an actor and no one should bother trying, because they failed.

You didn't read or understand his post, short term asymmetric volatility expansion can be traded by most traders, you don't need a billion or have a Gb link directly into the exchange.

Maybe a solution to the thread pollution is to allow users to easily +1 or -1 a post (or some other mechanism) based on how useful they found it. Users can then set a default in their settings to show only posts with 5+ or 20+, or -5, -20 etc if they wish to see all the crap. You could...

Your testimonial amounts to telling us you are a failed trader about to quit, that's it. You need to stop trying to extrapolate your failures to everyone else, this is a typical losers mentality.

Well any failed trader would, hindsight is always smarter. If the OP had been successful he would be saying similar to what you hear profitable traders say. Best investment of time ever, they can now make more money than they could doing a day job, and they have no boss, etc, etc.

How do these "best" traders view charts/quotes or place orders without software? Also there are many traders with automated trading systems, whether is be partial or complete, making fucktons of cash, which are not considered high frequency.

I agree with most, except trading from home, there are many big traders doing this.

Not another "I failed as a trader, therefore it's impossible for anyone else to be consistently profitable" thread!!! The fact you even think in that way is an indication that your analytic / logical skills are too crude to become a successful trader.

Although I don't think you can put an exact figure on it, I agree it takes a few years at least, just to get up to speed on the whole area of trading and to go down the many dead ends. I think this is where the majority of traders give up, they see its not going to happen in a few months or...

Luckily for me I am a experienced software developer in .NET and have developed systems for banks etc. I decided it was better to write my own back testing/trading software from scratch. I know this may not be an option for most people but I think it gives you the best flexibility. It also...

I was joking about the mentoring. The problem with the thread starter being able to block posters, is it can be used as a weapon to silence people who challenge the thread starter. This can be dangerous as I have seen a case on another forum where a thread starter scammed many people, after...

I agree, maybe the top profitable traders can setup a private group and invite one new/struggling trader in a year and mentor him/her.....since its my idea I will nominate my self as the first candidate. :D

Yes, because Elite Trader is the only place on the internet you can discuss trading. If Lescor wanted to setup a private journal we would have, you do him a disservice, he wanted to share it. If people want to create private communities then they will whether its here or somewhere else.

Will the new site make me a profitable trader? :D