You're quite a piece of work.
A New Trader Documentary
- Thread starter Maverick74
- Start date
You're quite a piece of work.
Something else the great USA isn't first at LOL
Only thing they've got which is first is NASA and most Americans want to get rid of it
And Ego!
We have better traders. And this is a trading forum.
Got to disagree, although retail traders world wide seem to be equally as useless if that helps.
Name em....
All the Brit traders seem the same whether retail or pro whereas there's more variety with the US traders.
The second part was specifically about home traders, which happened to be conducted solely in the UK. Featuring US home traders too would have been better (particularly if they had visited Tucson and Palm Beech).
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Most vendors advertise as teaching/showing you how to trade to make profits. Most don't succeed in that regard.
Professors aren't worthless b/c they were responsible for losing lots of money. They teach classes in college. This is what they advertise.
No Vendors show you all sorts of things. Profits is an ambiguous word. Over a day, a week, a year,10 years? Trading does NOT work that way. Hell, I sat next to some of the biggest equity guys in the business 14 years ago. Our firm had more 7 figure traders then anyone on Wall Street. And we "tried" to teach new traders. Hell, I had guys sitting 2 feet to my right literally mimicking my trades. They still lost money. Trading is a very "personal" thing, much like sports. It's not formulaic. All you can do is a give a guy structure and hope he does something with it.
School is different. Because it's not "one" thing. It's a collection of things. And school does not "teach" you anything. School also gives you a structure and it's your job to develop tools that allow yourself to create something of your live. Again,no professor or class can make you successful. You guys on ET think if you spend $300 and a weekend that you are going to become some bigshot trader. And heaven forbid if one month later you are still unprofitable, then everything must be a scam. Pure absolute laziness.
The second episode doesn't paint a pretty picture for retail daytraders.
You've got the college drop-out living in his parents attic, posting trade pics on instagram and talking about becoming a trillionaire. The lady selling kittens to raise a 5k spreadgambling stake. The guy with a trading plan and discipline (but no edge) with 7 yrs experience and nothing to show for it. Some retirees doing some low-risk dabbling in stocks. And the vendor with the fancy sports car. Probably a pretty accurate snapshot of the retail daytrading biz. LOL
Yes, one is a vendor. Unless I missed it, I don't think the show mentioned it. I googled around on the weightlifter guy and discovered he is actually a vendor with a site EZeeTrader where he sells pricey educational materials. Sorry to disappoint anyone.LOL
This pretty much sums it up. Episode 2 makes retail traders look really bad.
But at the end of the day, who cares. Trading is either just a hobby or something they hope to make a little income from. Money is artificial anyway. If an asteroid was to hit earth, all the money in the world will not buy you anything. What the world needs then are people with real skills like scientists/engineers/mathematicians who will try to find real world solutions to a real problem.