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I agree, but believe the reason Livermore is talked about so much is because he was the first "great" trader to use TA so effectively.

I read a part of a daytrading book yesterday about his ventures. It seemed to me that his success was because as a kid, his job was writing prices on a blackboard for a brokerage firm (dont remember the one). He did that so long that he was able to make good predictions based on price...

I agree with the statment about many ppl on here appear to do better than what they admit to performing. Although, there are some here who make consistant profits. And if (when:D ) I fall into that category, I'm sure I would still have time to "relax" and continue reading and contributing to...

not liquidating everyday....just holding for two reasons (1) to allow intraday play on the most volatile stocks while limiting loss from black swans, etc. and (2) when the strike price may fall in line with market price, I may be able to make swing plays with lowered risk. I have not spent...

How useful would this be in risk managment if you held a call or put on a position you intraday on? Obvioulsy, it would depend on your on style and system, but in your opinion would it be helpful to do? I think you could pull some interesting strategies/techniques regarding stop-loss and...

Sorry about no call back... You should be able to find Black-Scholes excel ready downloads online. I am at the beach and dont have all my resources with me. Try the search engines. Some text book companies have it available.

hmmm i dont recall vanity and greed being on the list of charactaristics for a profitable trader:p :p :p

perhaps there is confusion about the market and trading? They are very different in this discussion. market does equal zero sum trading does not equal zero sum

What makes you think you would get more than ten bucks each for these? They wouldnt be worth thousands each until people know you are for real.

agreed. Although I believe there are ways to enchance the attributes you are born with such as intuition.

Lurking? More like on vacation. I do not consider myself a genius by any means, but I feel that I have a fair amount of knowledge. This topic has been explained in all of the entry level daytrading books that I have read; therefore, I believe I am "qualified" to restate its simple...

Wow!! I am surprised this thread has gotten so long. The idea of the stock market as a zero-sum game is approached in basic level books so I dont understand the problem here.:confused: It is a zero-sum game. That is not my opinion, that is fact. Zero-sum means, obviously, the sum of all...

i would consider this topic interesting, but somewhat common knowledge. The older you get, the less risks you take. Thats how it works:p

MS, you really need to read the above statement. Nothing being proposed in this thread is illegal, unethical, or uncommon. It sounds like you are a fearful trader, since you said you wil pay your 44% so you don't have to be worried about tax issues. Maybe to make it clear for you, it is VERY...

i was there for it. didnt say much cuz i lost on it:p

lol thanks for the input so far. I'm asking this question, because I would like to determine what kind of buying power is needed to have a good chance of success. I define success as "being able to live off of profits as well as slowly compound your account". Obviously, it is different...

Simple question. How many positions do you allow yourself to have open at any one time as a daytrader? Not looking for $$ figures, just how many ways you can spread your concentration. ~RT

Wow. I'm surprised that the legalality of this situation is even being debated. I thought it was common knowledge. I don't know why MS thinks it is fraud. Financial planners would not exist if it was. One of their main functions is to advice people on how to place their money in proper ways...

lol my two pennies: wait til your second year (not term) and then start trading minimumly for the gain/knowledge/experience. You can always keep learning. Then again, if u make ivy, I wouldn't be so keen on doing that. I'm finishing my third year and have been doing minimual trading...

very good post. but the pro-athletes metaphor may be pushing it a bit. yes there are more, but the demand and desire for one (pros) is quite a bit higher than that of trading as a living. ~RT there are more brain surgens than astronauts.:cool: