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My hypothesis of things to come: 1) This recession rebound will be much different and much faster than others because of the unprecedented amount of money that is being pumped into the worldwide monetary base. 2) However, since the money is being borrowed at ridiculously low interest...

Hi OldTrader, Thanks for the feedback. I have looked at all of the reviews, and I would say that ThinkorSwim is the real standout, however, I see little discussion about them on this forum. So I wonder why? Is it because they are doing a good job and there is no reason to beef, or is it that...

Hi, I do daytrading in S&Ps EFTs, and am looking for a broker which may offer better execution and pricing than Fidelity. All of the discussion seems to revolve around IB. Is this because 1) everyone uses IB and there really isn't any good alternative, or 2) is it because all of...

Hi, I read it every week. I think it is the best there is when it comes to getting a good global macro perspective. Makes it much easier for me to form a long-term view which I incorporate into my intermediate trading style. I can highly recommend it. Rich

Quote from whitster: 1) "most of the people playing $5-20 sit and go's aren't pros. very very beatable" Actually these were some of the best tables to game. The Pros use to love talking about the easy money at these tables. They could easily clear thousands a day. It was funny though...

Sorry for the mistake. You are quite right. The quote is usually attributed to Barnum. I think I confused it with the Fields movie. However, even Barnum may not be the true author. http://www.historybuff.com/library/refbarnum.html. Wikipedia has even a longer rant on the subject. :-) Rich

Hi, I agree with everything you said. I stopped before it became a felony, for these reasons: 1) I knew that it would take me a very long time and a lot of energy before I was able to beat the experience of the Pros. 2) I quickly learned that there were all kinds of ways a group of Pros...

Personally, I don't think anyone is going to teach anyone anything, unless there is some sort of personal or long-term business relationship. Which is something that I would be interesting in forming. On the otherhand, I have seen lots of gambling (poker) bulletin boards which are loaded with...

I can best describe your analysis as naive. Rich

I don't think so. From what I understand, he traded mini-futures at the minimum trying to do what has been suggested. However, it is a simple proposition, that it is very difficult for novices to beat professionals (in futures or in poker) since the professionals have already learned how to game...

Yep, my friend did exactly the same thing and after a year was out his $20,000. He learned his lesson and is now back at work doing consulting. It is very difficult for a novice scalper to beat professionals. In the meantime, the novice is just providing the professionals their easy money. Rich

Thanks for the link. It looks interesting. I will be reading through it. Rich

I completely agree. It is a very much depended upon the individual and individuals involved. A good trader does not make a good teacher. A good student doesn't make a good trader. Becoming a trader may not suit all personalities. Rich

You are absolutely correct. I would never enter into any kind of arrangement without some sort of verification. There are sharks all over the place trying to lure in fish. I am quite sure that daytrading is no different. Rich

This is true, however the experiences of the Turtles (assuming that the story is true) would tend to confirm the opposite. But I do agree with the general sentiment, that learning how to trade is a personal endeavor - and not one that can just be taught by rote. Rich

Fair enough. I live in Chicago and would welcome free bona fide mentoring advice. However, if the process does not suit my personality, I would like the reserve the right to terminate the relationship, since it would not be serving any purpose. Rich

I think that someone should be able to step forward with a counter offer of some sort. It would be interesting to track to progress. Rich

Congrats! You did better than me. :-) However, the good news is that we both made money above inflation. Better than many people that I know. Rich

Hi, I would agree. It is the same for any avocation. Most of the time it is not possible to pass on the skill - it is too individualistic. Sometimes what is being done is sort of in the gray are of ethics and law. Sometimes it is a little edge that works for a while - but then mysteriously...

To me, daytrading is like online poker. It is possible to win on a long-term regular basis providing: 1) You know how to game the system (very prevalent in online poker) 2) There is a steady stream of fish (that is what online poker players call noobs who provide fresh, easy to catch...