24 single looking to go full time into day trading

Quote from TraderZones:

The number of traders who:

1) are making lucrative amounts of money (think $100,000 plus annually from a $25,000 account). We are not talking paper or sim trading, here.
2) for a long time (not "3 months") - like 5+ years
3) with decent systems stats (Sharpe, Profit Factor, max Drawdown, etc.)
4) doing this from home
5) Have enough trading capital to withstand the inevitable Risk of Ruin
6) Their trading money comes from actualy trading, not selling books, advisories or other services.

Are perhaps 0.1 to 0.5% of all "traders".

People who choose this for a "career" are in living in a deeply delusional state.
More...

So for 1) you're talking two trades a year? See attachment.

Do you have an Excel we can plug into for 3)?

Would compounding one of these every week get a guy up to the capital for 5)?

For 6) is it okay top just give away the books as a set of five?

I think his dad could be his mentor and maybe you could be an observer.
 

Attachments

here's an idea,
wake up early,
make your old man breakfast,
share a meal,
research, make phone calls, etc. like it's your job,
get some ideas on paper,
skip all the distractions,
stay focused,
research some more,
let us know what you find out.

bottom line,
stop being a slacker,
log some hours in the hard work department.
 
Quote from jack hershey:

So for 1) you're talking two trades a year? See attachment.

Do you have an Excel we can plug into for 3)?

Would compounding one of these every week get a guy up to the capital for 5)?

For 6) is it okay top just give away the books as a set of five?

I think his dad could be his mentor and maybe you could be an observer.
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As usual, you are nearly indecipherable.

Still trying to figure out why I never put you on ignore.

--- you don't get audited, because these people who actually could show your stuff as useful or not are undependable (most people call that, being evasive)

--- you are often incapable of explaining yourself in less than 30 paragraphs

--- you have been a primary cause of nausea for many years on ET, luring newbies onto the rocks on your delusional mission to be a guru, even though the only thing you offer is iron pyrites (look it up)

--- your concept of solid trading model, is to write 800 pages of cryptic Haikus and Fairy Tales that have no relation to "the market."

-- you are one of the finest examples of someone who thinks himself very central and important, when that is not what the rest of the site thinks.

Remember when you were leaving Elitetrader, out of "respect for Baron's business model?" (one of the several times you "were leaving", I believe...)

What happened, you decided Baron wasn't worth it, or you have no respect?
 
If you hadn't quoted him,I wouldn't have been exposed to his post. 'Guru Ripe' - expect a visit.What do you know? I'm a Soothsayer!
 
oh this is golden......Jack for your listed #1, 2 trades a year sounds like a speculator with a retirement account as opposed to most "traders" that make several thousand trades a year with some defined edge. I am not sure the source of all this hostility but I am certainly enjoying it!
 
Quote from henderson:

oh this is golden......Jack for your listed #1, 2 trades a year sounds like a speculator with a retirement account as opposed to most "traders" that make several thousand trades a year with some defined edge. I am not sure the source of all this hostility but I am certainly enjoying it!
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Sorry, I was getting too specific.

Those 6 points made by traderzones were strange to me.

The thread starter certthe description is ainly knows his description is unfounded by simply observing the market liquidity.

Successful traders trade size. They trade trends with good timing.

He needs an evaluation tool that traders can dump thier data into.

QED
 
I think TraderZones points were valid to the questions posed in this thread. I believe that it was just meant to provide a checklist for the potential trader to evaluate the probabilities to be successful in the industry.

Whats the beef between you 2 anyway?
 
Quote from henderson:

I think TraderZones points were valid to the questions posed in this thread. I believe that it was just meant to provide a checklist for the potential trader to evaluate the probabilities to be successful in the industry.

Whats the beef between you 2 anyway?
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The beef is, that Jack seeks worship, is often incapable of communicating in less than 30-20 paragraph posts, claims huge success and going around with the big wigs, spouts highly complex yet unfounded trading methods, has a history of turning a lot of newbies into lemmings, and runs away at the concept of being audited or proving his talk.

in other words, a delusional, schizoid, narcissistic, Jesse-Livermore wannabe that lives in his own 4-dimensional world. His many posts paint the picture.

Many here on ET speak from experience, observation, industry knowledge, etc. and seek to give newbies a realistic idea of what they face. Jack would prefer to obfuscate them into oblivion.

I think the post where I challenged Jack to get independent auditing of his claims, and his response is "how can you trust them?" said it all. He will not subject himself to verifiable proof, because it will expose a toothless, paper tiger

Him saying "Those 6 points made by traderzones were strange to me" make sense, because Jack has no idea of what trading is about.
 
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