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When I sold a daytrading manual in the early to mid 90s I enclosed 122 months of my monthly statements. When I spoke at a trading seminar in Vegas in late 1999 claiming to be profitable 106 of the past 112 months I sent the seminar organizer all my monthlies covering that period. I also took...

I follow price and only price so pay no attention to the fundamentals. My response above was several years ago. Now only trade junk bond funds after massive selloffs and a subsequent Zweig 9 to 1 double buy signal ala late Dec 2018 and late March 2020. My primary bond trading category the...

Thanks. Wish I could retire but beginning to think traders can never retire. This year has been one of the best ever for bond traders. More specifically since the FED stepped in and for the busted mortgage funds such as BDKAX, IOFIX, and SEMPX.

At one time I had over 600 books on trading. It was like I was a trading book collector. Have since culled that down to around 300. I also have about 20 or 30 books on trading psychology, self improvement, and success/achievement books. Those 20 or 30 books are by far superior to most of my...

Yes, for better or worse that's me.

Cant edit the above older post. Unfortunately I am finding traders can never quit. I thought $2,000,000 was my goal but now approaching 2.7 million. Hard to sit idly by when opportunities arise. At 73 years old I need 2.7 million about as much as I need a hole in my head. Maybe someday...

Trading is like any other profession requiring a specific mindset and skills. There are also no shortcuts. Like any other profession it will take years of study and hands on experience. It is a cumulative process that requires a commitment over time in which you progress in stages from novice...

Unfortunately, I am finding traders never retire. There are always opportunities to exploit. This year it has been the beaten down mortgage mutual funds that got annihilated during the Black Swan liquidity crisis in early to mid March.

True to a degree about my mechanical system. But I was always a discretionary trader using filters such as the Transports, Utilities, Tick, Trin, divergences between indexes, and more. I was never able to systemize those discretionary aspects into anything mechanical. Never believed there was...

It all depends on what sort of trading results they are claiming if any. Extraordinary claims require extraordinary proof as in real money trading statements or 1040s. Edit. Oddly some of the shadiest and most crooked vendors out there who have never made a penny trading can often offer...

At least you are putting your money where your mouth is so better than 99% of the Pretenders out there. Good luck with your public fund.

Warren Buffet like returns and higher than the returns from Bernie Madoff. So an understatement to say * investors * would be happy with 20% to 25% returns.

The question should be not how much trading profit to live on but to retire on. I don't know how many traders have an IRA account. Probably very few. I don't know where I would be had I not opened up an IRA account in 93 and then compounded those contributions over time. Of course now I have...

Thanks for the compliment. But PLEASE don't pay retail for this old book written in 1999. Buy a used copy. That way neither I nor the publisher is enriched. Not that it has been very enriching seeing my *total* royalties the past five years has been under $500.

The below is part of an update I am working on. And no, it is not another book. No more books for me. Just closure before I semi-retire and start spending some of my accumulated profits. We don't live forever. Many thought I was just a product of the 90s where anyone could make money...

CROOKS, CON MEN, AND CHARLATANS Long, long ago I received a letter from a frustrated trader. The letter began by saying “ I’m a desperate trader, desperate to succeed. I left my job eight months ago and was pretty optimistic I could make money trading. I have tired to do everything right...

https://www.bogleheads.org/forum/viewtopic.php?t=194277&start=50 Interesting thread above. Many of the Bogleheads have $2,000,000 to $5,000,000 investment accounts from just staying the course as buy and hold investors. There are lots of really profitable daytraders until of course you ask...

Only 5% of U.S. households have over $1,000,000 in investable assets. They must all be traders who hang out on trading fourms. http://mutualfundobserver.com/discuss/discussion/14197/apparently-millionaires-are-not-a-dime-a-dozen

There is no right or wrong answers in this thread being that trading is such an individualistic process. Different strokes for different folks. For me the 24 hour hour obsession is the constant mental strategizing of what I will do if the market does this or that. I am 100% opposed to...

No analytical or innate skills required although many from left brained backgrounds ala scientists/engineers will disagree. It's about 95% money management and managing risk. Also success in trading is more about psychological attributes such insane focus, a 24 hour obsession to the markets...