A message to those that constantly complain

[sneakoner]

Quote from 1flyfisher:


Just look at the average spelling and writing skills on here. Would you think their math skills or analytical skills or knowledge of economics or finance is much better?

But I is trying so hard, can ya hook up a brutha up with some winning indicaterz?

 

[SnakeEYE]

Quote from intradaybill:

You have to invest in education and tools.

thanks god you didn`t mention 'a trading plan',because there is none

i totally agree - TOOLS and setups, that is all you need to have and know.wtf is a trading plaaan???

 

[sneakoner]

But in all seriousness, what advice would you guys give to those willing to put in the long hours and dedication? Someone who is properly capitalized and is not looking to make a quick buck?

There is so much information out there sometimes it feels overwhelming.

 

[Tsing Tao]

Quote from intradaybill:

Do you have something illegal in mind?

no, but half of Wall Street does.

 

[jmonday]

Quote from volente_00:

52 points trading a 10 lot ?

just b/c qty says 10 doesn't mean he only trades 10

 

[jmonday]

Quote from sneakoner:

But in all seriousness, what advice would you guys give to those willing to put in the long hours and dedication? Someone who is properly capitalized and is not looking to make a quick buck?

There is so much information out there sometimes it feels overwhelming.

i would start by simply watch price day after day, eventually simming for a long time, and go over each day what you see and why and slowly things will come together....

99% of what out there is snake oil, and pretty much anyone selling services is snake oil.........those who can't trade, teach...for a fee

 

[Lojanica]

Commonly, that is to say in all walks of life not just trading but in trading the problem is magnified as learning to trade can be very stressful, people are too fearful, negative, cranky, and stressed-out to seize the moment when it arrives. This loss of energy, focus, and clarity invokes an inability to act appropriately and in fact causes the opposite action that of NOT ACTING.

There is much to learn regarding the mechanics of the market, how it moves and why, order entry, risk management etc. But the fact of the matter is trading is 75% mental.

 

[Jackie Treehorn]

Quote from 1flyfisher:

Not everyone is capable of becoming a surgeon, a top physicist, an nfl qb, a Nasa engineer,,,etc....a successful trader.
Most folks (99% on ET) are simply not cut out for this they do not have the NATURAL born inherent skills, abilities and intellectual capabilities.
The barriers to entry are practically non-existent as you can see the numerous morons on here with only $5000 or $10,000 trying to trade. That is because they have failed elsewhere and have little money and no skills that an employer wants. IE no head hunter is looking for them and calling them up offering them a $100K+ job offer. They're Too lazy to work and are attracted to trading thinking they can make a quick easy buck sitting in their underwear scratching themselves. These same individuals may explore and make an attempt at gambling like online poker or some such similar pursuit.
They will never succeed as traders. It is inevitable that they fail. They simply do not have the natural born skills and abilities. Trading is not something any high school dropout with a jr. high intellectual capacity can master. It's just not going to happen. Being a successful trader is not something that is easily acquired. You have to have an inherent NATURAL ability.
The world needs bar tenders, janitors, burger flippers etc and once they have lost their capital they will find themselves in suitable employment mowing a lawn perhaps, or washing dishes or cars etc. Just look at the average spelling and writing skills on here. Would you think their math skills or analytical skills or knowledge of economics or finance is much better?
The markets do need fodder for the cannons though.

For someone with such intellectual prowess

http://www.elitetrader.com/vb/showthread.php?s=&threadid=99725

Middle schoolers can work routers.

 

[Zr1Trader]

Quote from efficiency:

"where depends" or.............wear DEPENDS?

Yes I effed up the right version of "wear" . I'll be the first to admit i'm not the brightest bulb on the tree but damnit I love life and don't give a shit.

 

[Avid_Consumer]

it's a fair argument that competition at trading is like competition at any other profession (surgeon, foreman, restaurant entrepreneur, etc).

the obvious difference though (in reality) is that in regular, (pedestrian?, real?) professions your skill differentiates you. there are no billion dollar dentistry practices. your local restaurant nemesis is not undercutting you in price because of his bottomless, too big to fail pockets.

in trading, you're bound mostly by capital and also by connections (ie legal flows of information and cooperation or convolved interests). there is no 1 unit restauranteur against a 1M unit local restaurant. but in markets, the 1 lot player is indeed up against exponentially leveraged competition.

the small player is simply priced out by fiat.

disagree and present all the success stories you want. small capital in "the market" is pwned by real capital, much more than in any other competitive industry. just imo. the imbalance is greater in finance than in any other productive enterprise, exponentially.