closing my trading account today

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Hi

Your a young guy, life has many twists and turns. What is around the corner well, who knows. Perhaps it will not all be bad. It's my honest opinion that to be a success at trading you need to have gone bust once. Granted it can take time to fight back. The skills you have acquired will never leave you. I speak from experience.

Good luck to you

spreadbet
 
Quote from inandlong:

Magna, I cannot think of another time that I have disagreed with you enough to post. I do not want to presume that you agree with dbphoenix on this.
welcome back, inandlong!
 
Quote from TheCaracal:



House: paid for by trading.

7K of watches: paid for by trading.

Living room/Roof/New Boiler/etc: paid for by trading.

2 cars: paid for by trading.

All I DID was believe I could do it

Tell me master, what else is there?

You might be one of the exceptions. I too, am in the same boat BUT I read somewhere that only 5% of daytraders make a good living. Others fail or don't earn enough to live comfortably. With those odds, some people are dreaming. You can persevere as much as you want. The masses, in general, will not succeed regardless of their efforts. You gotta be REAL.
 
Quote from inandlong:


What proof do we have that you are successful db? That is always one of your questions. Where is your proof? I'll put my trading account up against yours any day. I'll tell you what... let's send a copy of our accounts to a mutually agreed upon middleman who can then post them. And do it right now. I can download mine quickly and easily. Surely you can too.

And those NQ trades you said you were making money on. You remember, the ones you posted after the fact in the Keep It Simple thread. Did you post the confirmations? Was anyone shallow enough to require proof, or was everyone mature enough to accept that you have better things to do than BS about your trades?

Slippery as usual, ial, and just as pompous.

My success or failure is not the issue. The issue is whether or not you have the right to encourage someone you are not prepared to support to keep trying to trade even though he has repeatedly failed to demonstrate any capacity to succeed.

If you believe that you are competent to encourage GG to continue and if you are prepared to assume the responsibility for the consequences, then (a) prove that you are a successful trader and (b) detail those characteristics that you and GG have in common. If you're not willing to do that, then put a cork in it and stop shoving somebody you hardly know into bankruptcy.
 
Quote from inandlong:

Maybe if you were more successful yourself you wouldn't enjoy seeing other people fail so much. That is what is truly pitiful.

You miss the point, moron. GG has already failed. What is pitiful is that you encourage him to continue to hammer away at a task for which he is unsuited.

Invite him into your home, ial. Support him. Be his mentor. Put up or shut up.
 
Quote from dbphoenix:

You miss the point, moron. GG has already failed. What is pitiful is that you encourage him to continue to hammer away at a task for which he is unsuited.

Invite him into your home, ial. Support him. Be his mentor. Put up or shut up.
We get your point. No need to reply to everyone with your opinion. It makes you look bad.
 
I disagree. Not ALL traders can learn to be profitable.

Quote from inandlong:



Magna, I cannot think of another time that I have disagreed with you enough to post. I do not want to presume that you agree with dbphoenix on this.

Trading can be learned. It can be taught. It is not some inherent gift within any of us. Those of us who are successful... whatever that might mean to anyone.... have learned to trade. We have learned to follow a set of rules, or fairly stringent guidelines that produce profits. I can tell you because I know for a fact that it is the set of rules or guidelines and perhaps the discipline to follow them that keeps GG from being successful. Also I believe that he is grossly under-capitalized; and if there is one sure way to bust out it is to be short on dough and trade scared.

But there are many many true stories of people who kept trying, who sought training, who kept coming back, who failed a number of times until it finally clicked.

Fortunately dbphoenix wasn't around to give Thomas Edison advice when he was working on a filament for the light bulb. He tested thousands of materials including over 6000 plant fiber types. I imagine there were times that he wanted to stop, or quit. But thankfully he persisted and persevered.

I agree with you Magna that dbphoenix is speaking honestly. But is he accurate... no. I agree that he is being straightforward, but helpful...no. And I agree that he is to the point... but a necessary point.... no.

Now if you are saying that his post is extremely well said because it is grammatically and structurally sound, then I agree with you. But if you are agreeing with the premise that he is making, then I cannot disagree more fervently.
 
You can't trade futures or sell short at Interactive Brokers with less than $2,000 in your account. But you can trade options, they don't use margin, and the $2,000 minimum is not a trading minimum but a margin mimimum.

You can probably also buy stocks, but maybe not.

With a Cash account you could buy stocks with less than $2,000. You can't sell short from a Cash account, because that's margin trading. You would need $2,000 to open a new Cash account (you can't downgrade a margin account to cash), but you wouldn't need to keep the $2,000 minimum in it for long, just to open it.

So you aren't absolutely forced to stop trading by IB.

Having said that, I'd like to state for the record that I agree wholeheartedly with dbphoenix, and I suggest that everyone on here stop trading altogether. Come on, it will be fun. We can have a laugh while we watch the online brokers all go out of business without us, and watch the S.E.C. languish without all the fees we give them. We'll have the last laugh!
 
Gordon,

Fly Southwest (cheap) one-way out to Vegas, get a cheap room to rent on a monthly basis in some dancers (exotic) condo. Then go out and get a valet job in the evenings at one of the bigger casino's ($35,000 to $70,000 a year...no shit!). Start building up some savings and paper trade during the mornings until you have a breakthrough! Now start your real trading again, and after a few months take $10,000 out to Bright Trading and go prop!

P.S. - Stay away from all forms of gambling (discipline test #1).
Stay away from all strip clubs (discipline test #2). :cool:
 
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