yes, that's the way I use to trade when I was a young man
only you need two clean shots. One to wake the guy up and get him moving, and the other to knock him down so you can go out and get your two bullets back
Are we elite traders?
- Thread starter BrandNewTrader
- Start date
only you need two clean shots. One to wake the guy up and get him moving, and the other to knock him down so you can go out and get your two bullets back
gotta get that English to American app loaded
====Are we elite traders?===
Depends of the definitions of the "elite" and of the "trader"
I would call a trader anyone who generates money for living only from trading, while trading only his own money.
Anyone who can do that for a decade imho can consider himself an elite
Based on that definition probably 99.9% of so called traders are not traders (including Niderhoffer), and 99.9% of the remaining 0.1 % are not elite.
Depends of the definitions of the "elite" and of the "trader"
I would call a trader anyone who generates money for living only from trading, while trading only his own money.
Anyone who can do that for a decade imho can consider himself an elite
Based on that definition probably 99.9% of so called traders are not traders (including Niderhoffer), and 99.9% of the remaining 0.1 % are not elite.
It's very simple. This forum was formed (named) a long time ago...I believe like the late 1990s.
Trading back then including infamous dot.com days and then the bubble burst days. Thus, the forum back then contained more profitable traders during some very strong trading periods. Therefore, the forum owner (Baron) came up with a great name that was very appropriate for a time period when success was much easier.
Fast forward, markets have changed and many of those profitable members have left Elitetrader.com...retired, took another job in the market, blew up, moved to twitter/stocktwits, got tired of the trolls and arguments or just died.
Its a website (forum) and its not going to change its name to be suitable to the new crowd. Therefore, just try to keep in mind of the global economic environment, market environment, higher number of profitable traders when this forum was first built...name was more appropriate back then in comparison to today. Besides, this forum is deeply fixated in all search engines...it would be silly to change the name.
In addition, the forum is a business for the owner. He could lose a lot of money via sponsors leaving if he were to change the name.
Its just an old forum name that's great for attracting new members and business (sponsors) for the owner...don't take it personally.
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don't forget to define what you call a "living". You need to be much less elite if you live like I do.====Are we elite traders?===
Depends of the definitions of the "elite" and of the "trader"
I would call a trader anyone who generates money for living only from trading, while trading only his own money.
Anyone who can do that for a decade imho can consider himself an elite
Based on that definition probably 99.9% of so called traders are not traders (including Niderhoffer), and 99.9% of the remaining 0.1 % are not elite.
I would not put the numbers of how much one has to do. But in weightlifting people start talking about some achievement when one can push its own weight (for one its 140 lbs, for another one 230 lbs (does not matter)
To each - its own.
But...
Trading is not the business where one can survive for long doing wrong things. So if one lives off it, it is already an achievement on its own, regardless of how badly one lives at the beginning. It will become better ... much better... (if one keep doing the right things)
Most people unable to live of trading not because it is bad living , but because its dying...
- Elite is subjective
- Trader is also subjective
So IMO we are all Elite Traders
So sitting through college makes a great trader, someone to take seriously? Doubtful.
I might have personal bias here (as I'm sure you do as well) but others who are educated and spent time with people from different background suggest education has little to do with trading success.
funny you should mention that. Now I am worried. I wanted to be semi retired by 2016 and that is exactly what I did. Started trading small positions that I could hold on to with no stop. And I stay spread most of the time so it is just a matter of adding to one side when the opportunity presents itself. The pathetic thing is my percentage return now is beating the hell out of what I was getting trading elite (although on a much smaller account.)
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newwurldmn, true only if you are putting yourself in a position that one trade (or 10 for that matter) going bad will end in your blowing up. I am sure you do not trade this way; no way to make a living. Now if someone is trading OPM, then what the hell (there is actually a bad incentive to take risky bets in that case). but no sane person would do that on his own dime.
-gariki