Cutting through the hype

[hoodooman]

Teaching trading is alot like being an engineering consultant.

When I retired, I became a consultant flight dynamicist. On one project I was helping a newbie design a simple missile decoy rocket commonly launched from military aircraft.

We were testing the device in an army wind tunnel when the chief aerodynamicist whispered to me that that was the dumbest aeronautical engineer that he had ever met.

I replied that those were the kind of people who need consultants but at least he was smart enough to know that he needed help.

Once in order to defray a plumbing bill, I taught the plumber how to swing trade. He called me about 12 months later and told me that he had given up plumbing and was now trading full time!

You can show a newbie an awful lot of things that would take them years to figure out, without being the worlds greatest guru.

regards

 

[Threei]

No need to generalize everything. Some do trade profitably and some probably do not. Not taking liberty to answer for entire industry I guess I can talk about myself. My trading account is up 88% in 2003 as of December 20th when I closed the year. MBTrading reviews my numbers curently so official confirmation is in order.

 

[traderob]

Quote from Threei:

No need to generalize everything. Some do trade profitably and some probably do not. Not taking liberty to answer for entire industry I guess I can talk about myself. My trading account is up 88% in 2003 as of December 20th when I closed the year. MBTrading reviews my numbers curently so official confirmation is in order.

I appreciate you telling us this. It gives me confidence when I hear of winning traders. Could you be more specific. I have 2 accounts and my smallest is way up but my largest is down 50% - the one that counts.
Is MB your only trading account, how many trades did you make in the year( roughly ). And are we talking about a $100,000 or a $30,000 account. These things make a difference as I know you teach daytrading.
I ask only as I hope your replys will give me more confidence.

 

[SethArb]

you will find the real deal there

note ... most people including me

don't fully get it and are not at the author / trader 's

level of success using his methodogy

 

[Threei]

Quote from roberk:

I appreciate you telling us this. It gives me confidence when I hear of winning traders. Could you be more specific. I have 2 accounts and my smallest is way up but my largest is down 50% - the one that counts.
Is MB your only trading account, how many trades did you make in the year( roughly ). And are we talking about a $100,000 or a $30,000 account. These things make a difference as I know you teach daytrading.
I ask only as I hope your replys will give me more confidence.

MB is my only trading account. I do anywhere from 3 to 15 trades a day depending on market activity and personal feeling of being in tune with it. Most of trades are 1-2K shares, some trades 5-10K - in cases where the liquidity is big, risk of slippage is low and I am going for rather small scalp

 

[traderob]

Quote from Threei:

MB is my only trading account. I do anywhere from 3 to 15 trades a day depending on market activity and personal feeling of being in tune with it. Most of trades are 1-2K shares, some trades 5-10K - in cases where the liquidity is big, risk of slippage is low and I am going for rather small scalp

Thanks!!

 

[Hombre]

Quote from SethArb:

you will find the real deal there

note ... most people including me

don't fully get it and are not at the author / trader 's

level of success using his methodogy

Could not find anything trading related on ACD. Do you have a link ?
hombre

 

[sulong]

Quote from Hombre:

Could not find anything trading related on ACD. Do you have a link ?
hombre

Hombre, it'll help you a lot in the future if you learn how to use the search function.
Go to top of page, click on search,type in ACD in the " search by key word" box, click on "perform search" box.
Just like magic, some post with ACD in them appears.

good luck.

 

[ChartingMarkets]

Lets pose this scenario: What if there was somebody who had a rather large size account. That basically played the daily,hourly and weekly time frames for swing trades that lasted 1-10 trading days. No daytrading at all, no chatroom 100 trades a day nonsense. If that person had a website service that was charging lets say 100 per month for 2 of their best ideas per day. Ideas that they personally scanned through and found using their many years of successful trading experience and were consistently profitable overall on their plays: Furthermore, what if they were willing to trade a side by side account to show that they were also taking the plays and they would post their P*L up on their website each day at the close of trading. Furthermore, what if they explained in detail how they found the plays and educated you on each one? Would a website such as this be worth something to you? What if that person made alot of money trading and said hey the reason I am offering a paid site is because I want to make even more money for myself. What if they said hey the proof is in the pudding I am giving you plays they are working you are making money I am showing you my P*L as well daily. What if they further said that they dont care if you learn there methods because they are not worried about their edge becoming diluted? What would you say to that? In this world I would say many people who run websites will not have any consistency trading most of them are scam artists. However, what if you found a site such as the one I just described that would be the real deal? (Just to say I dont have a website like this by the way it exists in never never land at this moment) Would you pay for that?

 

[valleyvintner]

Many regulatory authorities actually require that analysts, economists etc. NOT trade on their own account. The rationale is that if you have an emotional stake in a certain position it's difficult or impossible to offer objective analysis and/or advice concerning that security or market. There's a lot to be said in favor of this.

There are many successful traders who don't teach or give seminars and don't aspire to. And there are analyst/educators like Joe Granville who never go near the markets. I don't see how it's possible to do both successfully at the same time.