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The same Pretenders that were mentoring 10 years ago and longer are still out there reeling in the suckers. Why is it so hard to ask a Mentor to show you his real money monthly statements for the past three or four years? Oh, sorry, I forgot, mentors don't trade real money.

Living off book proceeds?? Yeah right! Under $1000 cumulative royalties over the past five years. I quit promoting myself long ago. That is for the crooks, con men, and pretenders. My goal was to retire with $2,000,000. Mission finally accomplished. It took me awhile because from my trading...

Thanks albeit most would not consider me a long term investor. In the 90s I was trading nearly everyday either adding or decreasing my positions. Even today, I use a tight mental stop so as not to have much more than a 1% drawdown in total equity (bond funds are plodders) I guess you could...

Again, this is my conservative IRA account, not my taxable account. The big percentage returns were when I had a smaller account and could be more aggressive. Since December 16, 2008 have averaged around $195,000 annually in both accounts combined. Of course I had the wind (the Fed) at my...

Thanks clacy, appreciate it. But only need $100-200K/yr to live on?? Hardly. I live in a very low cost of living area of the country here in rural Kentucky, am debt free (no mortgage/rent) and receive Social Security ( I am a big advocate of being 100% debt free) So it's more like I am...

m1nt, thanks but long ago quit trying to sell books. In some respects regret the whole experience. Royalty income this year was a grand total of $118. Last year it was something like $104. I tell traders buy a used copy for almost nothing. I get nothing for used copies. I've always been...

Wulfrede, you are very correct about one thing and that is having a family and putting kids through college etc. I did have a daughter though through a relationship and did support her. The only point I disagree with you on is the >>>I'll posit that many who plan to retire look forward to a...

Except for every 8 years when I purchase a new car, I live comfortably on a tad less than 40K a year? And I pretty much travel wherever for hiking as that is my passion and I spend as I please. The key (besides being single) is that I am 100% debt free (no mortgage, rent, or anything) I also...

OK, you got me searching my library of some 500 or so trading books. It was from Computer Analysis of the Futures Market by Charles LeBeau and David Lucas published in 1992. It was about a boardroom trader "who claimed he received entry signals from mysterious beings in outer space. He...

>>>Provided the above--- doesn't it stand to reason that random entries are as successful as any other kind if there is no edge?<<<< Actually yes, and that was a big topic back in the days. The most famous article was how you could use coke bottles for your entries (don't ask) It's the...

Thanks lotto - I think. I tell traders not to buy either book because they were written long ago. The haters will say "you write books for a living". Yeah right. The first book I gave up all rights to in 98 for $2000. In hindsight a big mistake. The second book my royalty income the past...

>>>Many wouldn't even share how they trade for fear of losing their edge.<<< Another myth that winning traders have an edge. If they have an edge it's in how they manage their positions. Successful trading is 95% psychology/ trade management and 5% something else. Unfortunately, it's that...

>>>Unfortunately it is in my opinion a myth that any profitable trader with statements and tax returns can take anyone willing to pay a fee and clone his performance.<<< I agree with that completely too! It's just that I have a thing about vendors who lie, cheat, and steal to convince the...

To each their own I guess. To me live calls are worthless unless they are backed up by real money statements from a real money trading firm. I think back long ago to that guy who was pandering a $3000 daytrading course. His calls appeared very prescient and he claimed to trade for a living...

>>> The secret is that there is no secret.<<<<< On that we completely agree!! Nice post. So many here and other forums are looking for the secret or certainty or someone to lead them by the nose to the promised land of instant trading wealth.

Funny thing, but after years of struggling when I was younger , one of the many things that turned my trading around in the 80s was a particular trading book. It wasn't until years later when I got to know who's who in the trading world that I found out that the author of that book was nothing...

Seriously? 50 trades proves something? I don't trust anyone that has a journal. When I was starting out and had but $2200 and trading stock index futures the last thing I could have done was a journal Why? Real traders are extremely focused, actually insanely focused, on the markets. Maybe...

Madoff falsified statements from his own firm. It's not like the statements came from a reputable firm like Scottrade etc. We are overthinking this. The posers will always find a 1001 reasons why it can't be done (just like they have a 1001 reasons why they can't show their actual trading...

A statement fabricated or missing something? What could possibly be fabricated from my trading IRA account at Scottrade as shown below? ( I have a smaller six figure taxable account also with the same holdings) It seems pretty cut and dry to me. All I did was delete the account number and...