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So what are the relevant skills? I know some basic coding from trying to code indicators its pretty neat and could be an interesting project for me learning computer stuff, that is I am liking it...... its kinda fun even better if I could use it to get a better job everyone on...

as far as useful content I dont see much difference between the two BMT has less riff raff but that doesnt mean the content is better there's nothing unique posted there that isn't posted anywhere else on the net nothing new under the sun as far as trading goes most guys lose...

I remember there was a journal thread on another forum (BM) that went on for over a year. It was a popular journal, and the OP was posting to it regularly, documenting her attempt to learn to day trade after a year she was not succcessful, so closed the thread saying she was going to...

I see the Al Brooks house thread has disappeared. guess we need a new place to bitch about vendors. :) The problem with most educators... is that they often disguise hindsight analysis as actual real live execution the same can be said for most internet forum gurus too so...

I tried ma stuff like that too..... only buy when ma is sloping up, etc maybe that could be one part of a good trading system but I dont think it could ever be that simple, trading is more complicated than that. You would probably need some way to identify a bullish condition...

Remember motivational speaker James Ray? guru seminar leader who talked about "The Secret" was sued because customers at his retreats had died in his sweat lodge exposed as a fraud..... saw a documentary about him where 10 prior customers of his were interviewed about what happened...

realistically...... 99% of vendors probably fall into 1 of 2 catagories............ 1.) failed traders (this is most of them I'm sure) or 2.) marginally profitable traders that get too stressed out to trade a large enough size to generate an income from trading, so are stuck at 1-lot...

The guru business is cyclical. Back when indicators were the cool, "in thing" for retail traders....... Woodie was really popular. Now indicators are uncool and "price action" is the cool thing for retail traders........ and Woodie has faded away and Al Brooks has taken over as the...

I remember when I thought indicator divergences (MACD, etc) were "it". But like you said, after a while I could look a chart and tell when there would be a divergence or not. I think the people who start all those indicator and price action threads should post some blotters or in PNL...

I get the impression that indicators were the "in thing" back in 2005 and there abouts. I see a lot of old threads on various forums where people shared their indicator-based trading systems and answer questions from newbs. I don't know what happened to any of those people, or if any of...

I think most trading is probably like that in one way or another. You either have a lot of scratches/losses and occasional big wins to keep you above water. Or you have a lot of wins and occasional big losses than bring you back down to earth (but hopefully still above breakeven)...

I just put a 300ma on a 5 minute NQ chart. This morning price stopped and reversed right on the ma. Holy shit! The 300ma was support! I actually used to believe that sort of stuff. Now I think it's funny when people say that price found support at a moving average. Price stops...

I don't think retail trading is a path to riches, unless the trader already had some wealth to begin with. Maybe a way to make a living for some, but nothing extravagant. For riches it would be better to try starting a business. Still a low chance of success but at least the chance is there.

I don't get the joke. I opened the pic attachment and it's a 1 minute chart. What's so amusing about that? From this comment: I was expecting to open a pic of Al Brooks in a speedo. :cool:

I don't think undercapitalization will prevent one from trading profitably, but it will probably mean that they won't survive the learning curve. They'll run out of money before they can come up with a profitable method. If a guy can trade profitably but is undercapitalized, there is...

I agree with the original assessment. Aspiring traders fail because they don't have a profitable method. This is why I think aspiring traders are wasting their time reading Mark Douglas and other psych books. That stuff only matters if you have a profitable method. Otherwise you'll be...

Things can't be going well for him. He provides the money and 95% of his traders are losing. But trading is getting harder and harder so they say. Must be those darn HFTs. Oh for the good old days when 90% of traders won and only 10% lost.... :cool:

This is getting interesting. If 99% of active traders lose, then how can the chart patterns they create offer any opportunity to profit? I never questioned the usefulness of TA patterns before. I figured they were self-fulfilling prophecies that might work enough of the time to make...

Trend following is old news. I hear Al Brooks Price Action is the latest craze. Maybe someone should send those guys a copy..... :cool:

You need to make a lot to be a trader. IMO trading for a living is sort of a rich man's passtime. If you're an average joe - where's the payoff? If you hate your job, just find another. Or change careers. I think too many people have pie in the sky fantasies about trading for a...