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Sorry, I don't have Flash installed on this PC.

:D But seriously, IMO stress of trading "big stakes" is overrated. If one successfully trades 4 cars a clip, what stops him from trading 5 the next week? Then 6 etc.? Change in risk per trade is negligible in that case and those markets won't ever notice the difference (even NQ easily...

I've heard about Trader Ed before... impressive track record in impressively liquid markets. Two weird things about this story are why someone making that much in FX and ES would like to sell education for $50 or how much is that and why trade size is just 4 contracts?

I seriously doubt real success rate is much higher among comparably scalable professions. The only difference of trading is that it's automatically scalable while most other professions include multiple stages of moderate success.

Yea, ET chat was a great place where I met people with whom we are still good friends even besides trading.

Chat rooms can be a good way to spend a trading session with buddy traders though. Pretty useful and constructive talks happen as well. I know, many never took ET chat as any serious, but there I met people who influenced my trading greatly.

Isn't it more typical for gurus to charge for "courses" or "mentorship" or like that instead of exposing themselves to losses made by themselves as opposed to losses which may be blamed on students "not doing it right"?

I mean, if one sucks, what's the purpose of doing OPM at all? Who will pay you for losses?

Wouldn't posting performance be the best way to attract POA clients?

It's a serious problem for struggling traders: more than once I heard from people they need some real confirmation that retail trading is even possible to believe it and have motivation to keep learning. But such a confirmation is very rare online. Mostly smoke and mirrors.

That is true. With confirmed real edge psychological issues are much easier to cope with if they appear at all.

It comes from belief system you adopted from others. Has really nothing to do with objective reality, which is: who said money has to be earned hard?

Probably some are, but likely not in public. ET has a lot of action "under the surface".

True. You expect either stellar performance from mentor or stellar performance of his/her students.

Ironically, good mentor indeed doesn't have to be a golden champion. Many glorious sport coaches never were champions, many great professors did not get Nobel etc. And the opposite: great trader (or other professional) may be an awful mentor. Skill of teaching something is different from the...

Yes. I like how Douglas explains environment of uncertainty and concludes we have to limit our own thinking to following the strict rule-based plan in order to become profitable traders.

Alpha state of mind is good for both day dreaming and meditating.

It's very hard even for a person without gambling problem to operate in environment of odds, cause we instinctively look for certainty and stability. I remember the times when seriously tried to find "sure" trading signal. :D

I mean psychologically. Casino is widely known to be gambling, addictive and somewhat "dangerous" in this sense. Trading is considered to be serious occupation, but contains emotional traps in it's process (due to being an odds game), which attracts persons subject to ludomania or simply...

Problem is trading being an odds game easily develops into addiction for such persons. Cause if they play casino as recreational activity they are aware they just gamble. Not so in the markets.