Originally posted by Hitman
***you should modify the "Discipline" self-talk to the guy on your teams situation and give it to him.. it will help him stay in the proper frame of mind.. ***
Sorry man, I don't think discipline can be taught. Talking to yourself may work for you but sure as hell won't help everyone else.
dont apologize to me.. i have nothing to gain by helping your team mate.. i do find it amusing how you dismiss something that is almost universally accepted by psychologists though.. perhaps you tried it and it didnt work for you? no, i doubt that.. i think you dont like the idea because you (1) dont understand it (2) would not be able to take credit for its results (3) dont genuinely care if your team member makes it or not.. dont misunderstand me.. Self-Talk alone will not make him into a superstar trader overnight.. but it will put him in the proper frame of mind so at least he has a chance.. you should reconsider and educate yourself about the subject.. especially if you are going to work with alot of newbies..
Originally posted by Hitman
***tell that officer that "the only one who can save you in a war is yourself".. its nonsense.. and you dont have to do everything wrong to lose money.. ***
Unlike that officer, as a trader you have to stick your head out 5-50 times a day, 250 days a year, and many many years down the road. Sure sometimes when I am ice cold I ride other people's coat tail too. Doesn't mean I have anyone else to rely on over the long run.
oh.. so you DO rely on others when things arent working.. sheesh, and there i was thinking you were the Lone Ranger.. thanks for coming around to my point of view..
Originally posted by Hitman
***in fact, you can do 90% right and only screw up 10% and still be unable to make a strategy work for you.. ***
A very good way of saying absolutely nothing.
::sigh:: let me break it down for you.. ever play a sport? say you are playing basketball and you have a great defense.. your offense can dribble, they can pass, they are quick on their feet.. but they cant shoot.. they get 90% of the game right, but they will lose if they cant shoot.. same with trading.. if you can find setups.. execute with precision.. read the market.. understand the market maker/specialist.. but you dont stop out when you are wrong, you will lose.. 90% right, but you eventually lose.. its stupid (no offense) to think that if you arent winning then you must be doing everything wrong..
Originally posted by Hitman
***actually, his average before he began running a room was 500 if i remember right.. something like 41% better than your results this year.. ***
Actually, those numbers came from 2000, and everyone and their mother agree that 2000 was a much much much much much much much much much better year than 2001. I didn't play in 2000 (I started at Worldco around the same time he started his room), I played in 2001. I don't care if he made $5000 a day in 2000.
**=) his chatroom was not launched against you.. lol ***
Your comment he made more money than me this year included his chat room income.
in the words of the guy that plays Bush on saturday night live.. "Somebody doesnt know when he is beat." =)
Originally posted by Hitman
That's because A) None of the big name vendors ever audited their account record, and it is such a stupid loop hole in this particular industry B) Nobody, with the exception of Don Bright (marketing or not, still gotta give him major props for at least taking the right side of the trade), is doing any comparison tests.
A.) lol.. and they are going to do this because? sorry, i just dont see it happening..
B.) actually, customers log in on the free trials and do comparisons every day.. and there are industry magazines that have reviewed some of these chat services.. Don Brights article will certainly make a nice read though..
Originally posted by Hitman
Nobody said you can put some serious hurt to some of those scams overnight. What I must do within the next 12 months:
A) Find a fine example of a vendor that is legit in every way, which hopefully Brandon will provide. Praise it, bless it, use it as a standard everyone else is judged against.
B) Slowly but surely start chipping into potential customer base of those that are not auditing their records, starting out by posting vendor reviews/impressions, singing praises for reputable vendors that do audit their records, bashing those that do not with a variety of usernames on various message boards, like what Turok is doing.
C) Aggressive recruiting retail newbies into prop/prof firms. Let's face it, anyone within the vicinity of New York area, trading from home, subscribing to a chatroom, is a potential customer. He has the 25K and he can use less than half of that to get a highly competitive deal at Worldco, with any luck by then I will have a much stronger track record and a few quality players on my team to provide a solid training program. So no, this is not just a mud throwing contest, there is real business at stake here.
D) A full blown recruiting campaign to fully illustrate the advantage of a prop firm for someone just starting out (which is the premium target of chat rooms, and that is our interest as well). Personally, I see ZERO reason to trade a 25K account while subscribing to a chat room that is probably a scam to begin with if there is a prop/prof firm within the vicinity.
E) To be honest with you, with this kind of market climate and that 25K requirement (in many ways I feel Echo moved at a much quicker pace after the rule change, thankfully the window of opportunity is not fully closed, yet) most of the chat rooms will die a slow death any way. However, if I can do a little bit of my part to speed up the progress, grab a few quality talents in the progress, consider it mission accomplished. (Which is exactly what Don is trying to do with his "competitive review" project, although he pulled a gorgeous trojan horse approach).
i find it interesting how you have come so close to endorsing Brandon just because he promised to provide an audited record.. have you and he discussed any "arrangements" so that you are able to share in any fees from traders that you direct to his site? just in the interest of full disclosure you know.. personally i did spend a day in Brandons room and it seems pretty legit to me.. and ive enjoyed reading some of his and Tonis articles.. so i have nothing negative to say about him, but if you are (or will be in the future) recieving some form of "kickback" from his room then it should be fully disclosed as it would be a conflict of interest.. especially considering your position of "authority" within your firm..
as far as going with a firm like Worldco.. i tend to agree with you in a way.. i think my progress will improve the more i associate with traders in person who trade at a higher level than i do.. iron sharpens iron so to speak.. but that is not to say that there is no place for a chat service.. even as a supplement to someones training at a prop firm.. speaking of prop firms.. im supposed to be studying for series 7 now instead of ranting here so ill wrap this up..
i dont think chat rooms are your direct competitor.. here is why.. how many people live in NYC? alot right? log into any chat room and how many people are going to be in your area? not very many.. most people arent going to up and move so they can go to work at your firm.. you would probably be better off looking for undiscovered local talent.. just my opinion..
i wish you the best of luck.. dont think i feel bad about you because we have different views.. nothing personal.. if you want the last word, go for it.. i see no reason to continue this..
-qwik
