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I actually really like the concept of the rising star, but I agree it's being marketed wrong. What they should be doing is looking at somebody who's had great returns for the past 6 months or 1 year, and then using the show to try to poke holes in his systems BEFORE they happen. That would be...

"Overall, these guys are't there to tell the news like CNBC but to get us to wake up and think for ourselves using strategies to grow our accounts." Absolutely agree. I've never got the impression anyone on the show is trying to tell anyone the best way to trade, or how to do it like them, or...

"But I wouldn't recommend anyone do what I'm doing." Unless of course they are also trying to lose all their money just like you're going to. Then by all means, lock and load bitches. 50% profit per trade, TO THE MOOOOOON !!!!!!!!!!!!! F'in Elite Trader, gotta love it :)

Well the fact remains, the vast majority of successful traders wildly disagree with you. So whether YOU personally think they are useless, that is certainly your prerogative. But to say that backtests don't even remotely work and they are nonsense, THAT's what's nonsense... Really can't stand...

These threads are so classic Elite Trader it's hysterical. I make 5% a week, minimal drawdowns, blah blah blah... I'm gonna trade full time, I'll be RICH BIATCH. Did you clowns pass grade 8 math class? If you started with 100k, you'd have a BILLION in 4.3 years. You'd pass Warren Buffet...

The reason 95% of traders fail isn't because of backtesting. It's because of inadequate or incorrect backtesting + not being disciplined traders and sticking to the system going forward. Also a backtest is only as good as the person scrutinizing and analyzing the results. Returns aren't...

"So, when I backtest, I used historical implied volatility, historical interest rates, historical dividend rates and Black Scholes to calculate the option prices. How much can I trust the results since I was missing volatility skews/smiles and accepting the approximations of a Black Scholes. And...

"The iron condor as a strategy is curve fitted to this recent market cycle." My Iron Condors performed better from 2005 - 2009 than they did from 2010 - 2014. My 2015 returns are accelerating again because of the type of market environment. Obviously there are many different ways to trade...

"I don't know what is so hard, the vix trades around 12, why not come out with a simple VIX etf that tracks it point for point, DONE!!!" First of all, the VIX certainly doesn't trade around 12. The long term average VIX is closer to 20, and the average of just the last few years of this raging...

Obviously you need to start hedging your positions more, you're just putting far too much at risk. It's like other people have said, you can do what you're doing likely for years without it being a problem and make a nice tidy profit doing it, but the day will come when the unexpected really...

"I am willing to bet that if you annualized Getco and Jump's returns over the past 10+ years that they would be well over your magical 30% number with a max drawdown of 0%. However, we will never be able to verify it since they are so hush hush about everything so it must not be true." Then...

"100% return on 10% drawdown. If you say thats not possible then that just shows me you arent qualified to speak on behalf of daytraders." Calling it "daytrading" doesn't suddenly make your returns bigger. Don't be that guy who thinks semantics changes the math, it's all the same thing...

i960, in your case you are talking about using over 20 x leverage. That means, you are saying you can go forever, literally, FOREVER, without having a single 5% portfolio drawdown at any time in your life. And even a 1 or 2% portfolio drawdown is going to hurt bad at that much leverage. It's...

I can't believe I'm arguing with someone who doesn't understand what leverage means. This god damn forum man, I swear. It is just chalk full of first week traders... Person A has 1,000,000 of real cash in his account Person B has 100,000 of real cash, and leverages the rest so he trades...

"has you asking about how to do *basic* taxes on option trades related to S&P500" I've never managed money for an American, hence the question on this forum. All my clients are Canadian, Asian, or European and wash sales have never and won't ever come up. I still have just the one American...

"The fact that you keep talking about bull markets makes me think you don't trade any futures whatsoever and think with a 100% equity based mindset." I've already stated I manage a 100% options based fund, with a correlation to the S&P 500 of less than 10%. My trading has literally NOTHING to...

The thing is, it's not quite that easy. There are literally thousands of books written explaining the usefulness of the option greeks. Do you really think people are going to be able to give you a one paragraph overview on how to use them properly on a chat forum? So be realistic my friend...

"IMO a solid trader can get by with 100-200k in an account. I'm talking futures with leverage of 6-20x. Equities need more." It's just mind blowing how you think that's true. You realize just based on simple grade 8 math you'd have to make 30 - 50% a year, FOREVER ! And that would only allow...

This latest bull market has created a literal army of new traders who actually think they have "trading" skill. The best part about threads like this one is watching all the rookie traders with a couple years under their belt and some modest success in a raging bull market try to talk as if...

I don't understand how a forum for "traders" has so many people with such crappy math skills. This isn't complicated people, there's just 2 main variables. Rate of return, and how much you want to spend in a year. *obviously it's a little different for each person, but we can make some common...