You are one of the many who does not understand how it works.
Leverage, frequency and compounding are a very powerful combination.
In profits, but also in losses.
Am I Wasting My Time?
- Thread starter Tall Mike
- Start date
You are one of the many who does not understand how it works.
Leverage, frequency and compounding are a very powerful combination.
In profits, but also in losses.
I trade options.Specifically - what is the opposite?
And since you found the 'opposite to be true' - does it follow from that that you found something which was easier? If so, what then?
What does efficient mean? In practical terms?
ES/SPY moves substantially on a daily basis, yes?
Does not a wider spread make it even more difficult for the amateur? In practical terms - how is it 'easier' for an amateur to 'exploit' an illiquid stock?
When I was just starting out I found out after the fact that I had just entered a listed, but very illiquid stock that had days where it barely transacted. I was just lucky to get out.
It's possible. I wouldn't know.
Day trading - I only ever traded the ES seriously. I dabbled in CL for a few months - a market I assume should be considered less efficient than ES, but found it to be too wild and unpredictable to me.
ES is a technical market and predictable to a certain degree. Just observe where the morning HOD was printed and later on the current HOD. These are not random levels. Just from my general statistics I know with a 90 % certainty that ES put in the HOD already today.
SPY options have very tight spreads, often $0.01 and thousands sometimes hundreds of thousands of OI (Open Interests).
Options on individual names that are thinly traded often have spread that are > 50% of mid. OI are often in single digits. I have more successes with these.
If you trade options you will not understand how you can trade less then 100K in futures ES and make a good living without having to trade 30 years day in day out.
My 2 sentence reply to ALL of the above because I'm very down to earthLet me try again:
1. I joined ET and got a lot of excellent advices, free. I don't think you can get any better advices or perspectives than what you can get from @Maverick74, @drcha, @MrScalper, @Handle123, @sle, @newwurldmn, @Kevin Schmit, @destriero , @taowave, @Same Lazy Element, @TheBigShort @Sig and others too numerous to mention. They shared so many stories, free.
2. As a result of joining ET, some kind souls (@Sig...) here recommended I took classes in economics, finance, coding from Coursera, free. I took a Coursera Economics 101 class from Peter Navarro, an Excel VBA class from U of Colorado, a Financial Engineering class from U of Michigan, a Game Theory class from Stanford.U ...
3. Borrowed Hull, McMillan from the local library, free.
I ended up bought these two books and used them as reference, not free.
After doing all this did you solve your problem?
Yes or no, there is no gray.
I know the answer and you do too. If the problem is still not solved do you think you did the right things and connected to the right people?
ironchef,Let me try again:
1. I joined ET and got a lot of excellent advices, free. I don't think you can get any better advices or perspectives than what you can get from @Maverick74, @drcha, @MrScalper, @Handle123, @sle, @newwurldmn, @Kevin Schmit, @destriero , @taowave, @Same Lazy Element, @TheBigShort @Sig and others too numerous to mention. They shared so many stories, free.
2. As a result of joining ET, some kind souls (@Sig...) here recommended I took classes in economics, finance, coding from Coursera, free. I took a Coursera Economics 101 class from Peter Navarro, an Excel VBA class from U of Colorado, a Financial Engineering class from U of Michigan, a Game Theory class from Stanford.U ...
3. Borrowed Hull, McMillan from the local library, free.
I ended up bought these two books and used them as reference, not free.
I respect what you saying, but I still rather pay for help and training. Getting free trading help has not worked out for me. Just sends me in circles. I am at the point in life, where it's just easier to pay to be taught something or buy whatever trading course or book I want. Sorry, just do not want the free stuff. Waste of time cause I will not get all the details, just half ass stuff and messing around. Look at all the free stuff on youtube. Millions of trading videos. Too much room from error.
Even went my hunting deer hobbies, most guys do all this fancy stuff going to free park and free land to hunt deer, not me. I pay for a lavish guided deer hunt with a guy who knows where the deer is in a fancy cabin. He point out the deer, I aim and shoot, I bring home the meat.
Just easier to pay man.
The only time I get free help is when I at work.
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Possibly the option you should take is to pay someone to manage your capital.
You keep suggesting that you can somehow buy the secret to success but avoid who it is you have to pay.
Not sure if the educational end of the business is regulated. There must be something because some of the sponsors don't give performance figures because of regulations.
The closest I have seen to anyone rating different education providers is a site called Trading Schools.org.
Have you paid anyone you care to mention and more important did it help?
Hello deaddog,
Pay someone to manage my capital, LMFAO.
Vanguard S&P 500 index manages my capital very very very well. Very easy money these past 12 years. I do not even have talk to a financial advisor either. I just put money in the index twice a month, and more money just come out year to year. It is very amazing. And I get these dividends too 4 times a year. You know what too, in March 2020, I was down about 20% I think, and surprisingly after talking to NOONE, I am up about 4% I think.
Yeah, so I damn sure want be paying anyone to manage my money. To the moom S&P 500 Index. Go Trump, make it happen baby.
That's exactly what I was suggesting. For those who can't trade it is the best solution.
deaddog,
Of course I paid someone man. In the beginning I try trading on my own and lost alot of money man, like $8000. Wasted alot of time. I thought since I had college degree, trading would be easy. Well, it is not.
Al Brooks, William trading, opentrader and some other guy I like. Still on Al Brooks for now learning and practicing. I still have to put in the work too. It's ongoing learning and improving.
Of course it helps man. I am learning from experienced traders in a structured educated manner, just like college. Why try to learn on your own, when you can pay for trading training from others experienced traders and let them teach you? I mean, it is not rocket science to me.
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