An idea

scot.mcpherson · Mar 20, 2009

I like the spread betting idea, its like a fund but doing the work yourself. If you really opened a firm to do this you could split the players into groups: aggressive/risky; safe performance; break evens; and loosers. If you had enough capital yourself you could setup something automatic to mirror your winners groups moves, some trades will loose, but the spread and diversification could keep you fairly safe.

It's like "Open Source" trading kinda like open source software. I think I'll coin that phrase if it's not already taken.

midniteeuropa · Mar 20, 2009

did u guys get caught shorting the financials ?

pretty far fetched idea, why not just flip a coin ?

ElCubano · Mar 20, 2009

Quote from Rex84:

I find that it is much easer to find someone who is consistently wrong then someone who is consistently right. I know someone who started trading with 4 mill and ran it down to 100k before giving up. My idea is what if I were to hire someone like the last person I mentioned and pay that person to pick stocks, and whatever that person tells you to do, you take the otherside of the trade. Has this ever been tried?

sorry but Stockturder already has a job at mickey d's...... he ran 10 million in paper profits to needing a bailout.

MohdSalleh · Mar 20, 2009

if he has 4 million, why the fuck would he trade???

most successful traders here make a consistent 300 buckeroos everyday.

this is the reality of trading.

go get a real job.

the dream only exists for a select few, likehow in basketball there are only a handful nba-calibre players

Bolimomo · Mar 20, 2009

Quote from MohdSalleh:

most successful traders here make a consistent 300 buckeroos everyday.

I don't think this is quite the case.

Granted the distribution is not a "normal distribution" curve. Most of the traders lose money. Some break-even at best.

But if you say "the most successful traders" make USD$300 a day, I think you need to redefine your criteria for "most successful".

Work a technology job, like an engineer or something, can make $70-80k upward, which is around USD$400 a day. No way would you want to risk so much for a "less than a salary" job return to trade.

scot.mcpherson · Mar 21, 2009

If I had 4 million dollars, I would be trading for growth and turn that into more money for my kids and grand kids.

Mr.Consistent · Mar 25, 2009

Quote from Rex84:

I find that it is much easer to find someone who is consistently wrong then someone who is consistently right. I know someone who started trading with 4 mill and ran it down to 100k before giving up. My idea is what if I were to hire someone like the last person I mentioned and pay that person to pick stocks, and whatever that person tells you to do, you take the otherside of the trade. Has this ever been tried?

:eek: Youâre erroneously presupposing that successful trading is purely a function of picking the right stock. I bet you if someone blows huge account it has noticing to do with stock picking, but it is a result of lack of risk management, money management, trade management, discipline, having no plan, etc.

Start developing awareness, and youâll notice that some traders have more losing than winning trades, but are successful due to risk/reward ratio and not due to high probability of picking a winner. TRADING HAS NOTHING TO DO WITH PICKING WINNING STOCKS.

Kap · Mar 30, 2009

Quote from scot.mcpherson:

I like the spread betting idea, its like a fund but doing the work yourself. If you really opened a firm to do this you could split the players into groups: aggressive/risky; safe performance; break evens; and loosers. If you had enough capital yourself you could setup something automatic to mirror your winners groups moves, some trades will loose, but the spread and diversification could keep you fairly safe.

It's like "Open Source" trading kinda like open source software. I think I'll coin that phrase if it's not already taken.

Spreadbet firms do this allready, they keep statistics on all there clients. this is a fact. They dont want to hedge as its too expensive, so if you consistently yield returns your trades will be "referred" delayed fills etc - anything to deter you to leave them - they have many tricks. On the other hand they like there consistent losers :-)

MONEY4NOTHING · Mar 30, 2009

Let's say you start with $4 million. Now your loser recruit makes a bet and takes it to $6 million (because he isn't a consistent!). You bet opposite and lost $2 million. Its easier for him to take the $6 million to $0 than it is for you to break even. Lose 20% and you need to make 25% to break even.

Quote from Rex84:

I find that it is much easer to find someone who is consistently wrong then someone who is consistently right. I know someone who started trading with 4 mill and ran it down to 100k before giving up. My idea is what if I were to hire someone like the last person I mentioned and pay that person to pick stocks, and whatever that person tells you to do, you take the otherside of the trade. Has this ever been tried?

Kap · Mar 30, 2009

Quote from MONEY4NOTHING:

Let's say you start with $4 million. Now your loser recruit makes a bet and takes it to $6 million (because he isn't a consistent!). You bet opposite and lost $2 million. Its easier for him to take the $6 million to $0 than it is for you to break even. Lose 20% and you need to make 25% to break even.

how about a 1000 clients with 1K accounts, giv them loads of leverage, and watch 98% of them blow up. I think a 4mil account is a bit far over on the bell curve