Quote from dv4632:
Well at least he had the courage to swallow his pride and admit his failings, and move on with his life. He could just as easily be on here posing as a profitable trader, posting up hindsight charts, giving speeches about discipline, creating aliases to vouch for himself, etc. LOL.
This is something Brett Steenbarger would mention from time to time.... that no one ever hears the stories of the failures and how this can ruin lives. It's a sobering read and I think it's good that stories like this are made public so as to balance out all pie in the sky stuff you get fed.
I fully expected the obnoxious responses, but I knew that any intelligent person would see that this is the internet which is the land of obnoxious responses. I wasnt surprised or disappointed in that regard and, for the record, I am not NoDoji or any other previous/present alias. I liked the above post very much because there is a lot of truth to it and so I thought it worthy of a solid reply.
There are many folks on this website who "pose" as profitable traders one way or the other. They tell us their so-called "history", they spoon feed us what are essentially lives and usually try to align themselves with the greats like Tudor or other well known trading personalities. You know whats funny? There are are just the same amount of people running around society today posing as Navy SEALS and just the other day I overheard someone at the local Dunkin Donuts saying how they were somehow working on the Mitt Romney campaign. Everyone makes up things for their own twisted agenda. You can't get caught up in any of that...its all bullshit.
So when someone says they are this or that. They were a doctor, they have a degree in whatever or they used to work for Tudor then ask for hard evidence. I bumped into someone who said they currently work for Tudor, but when I got online and emailed a few people I found on LinkedIN and emailed the actual company they never heard of the guy. It was another lie. The Navy SEALS and Wall Street have one thing in common...both those industries have a bunch of posers out there and, frankly, its disgusting.
There is what they call the "casino effect". In a casino, you only see the winning slot machines go off and make noise. The losing slot machines stay silent and the people behind those machines quietly walk away. This is what happened to all the victims of Ponzi schemes and other such frauds...everyone quietly walked away and no one stood in front of the lime light saying they were a victim. So you only see the winners on Wall Street, but the losers quietly walk off into the sunset.
I kind of enjoyed the baseless accusations, obnoxiousness and two bit petty insults in this thread. You see, that is honesty and you know where those folks are coming from. The worse is not knowing where someone is coming from. At least if someone calls me a "loser", then they are being honest and I know right away how they truly feel. Its these other folks who you have no idea where they are coming from are the ones I truly and deeply worry about.
When you turn on CNBC or Bloomberg radio...its no different then this website. You have the money managers who pose as real traders. They will choose a stock on the top gainers list and then claim to have a big stake and how they were right. They will pose and fake all day long for the camera. Its also funny how if the market is moving up, CNBC/Bloomberg will have these guys on who say the market is going to 15000, but when the market is going down its the exact opposite and they have people telling us the market will get back to the March lows.
My trading used to be good, profitable and I was happy. The main mistake I made was getting into trading in the first place. I would have been happier just cultivating my business and investing the profit into mutual funds during market downturns. I would have never lost a dime following that strategy and may have made some. However, the other mistake was reading and listening to forums like this one...so called news stations like CNBC or Bloomberg. Trusting people who work behind an anonymous alias. All of that is total and complete crap. Its shit.
There is no such thing as a "teacher", "mentor" or a "coach". All of the folks out there whether on here or on CNBC or even the authors of many of these trading books just want to take your money somehow. Run away....run run fast and far away from them.
I hope I have reached at least one person by this post, if not, I tried.
