oh sorry I forgot to address the second half.
No I don't work a regular job I am a trader only. I make decent amount annually.
No I don't work a regular job I am a trader only. I make decent amount annually.
DD-YM-Trader: A YM Trader Speaks
- Thread starter Duref Mudgins
- Start date
DD-YM, thank you for your candor.
As an aside to our readers, do you see what we are getting here? We are talking to people for whom we take it at face value that they actually trade, are net profitable, and support themselves. For a time we willingly suspend disbelief and promote cordial dialogue. As our conversations continue, surely enough we will see if they are truthful or not, because no non-trader can lie convincingly about trading. And YOU and I, dear readers, are traders ourselves, are we not? So we will know. Not to bias your judgement, but I would not have asked DD-YM and Razor to talk if I did not believe them myself. I have been fooled many times by ET posters, but never for long. Im-posters implicate themselves.
DD-YM, something about your comportment suggests to me that I may ask you tough questions and get straight answers. To me a central issue which persists on ET is the an epistemological, certainly ontological, and possibly even teleological question: Is an aspiring trader better off seeking a mentor or attempting his own education?
As an aside to our readers, do you see what we are getting here? We are talking to people for whom we take it at face value that they actually trade, are net profitable, and support themselves. For a time we willingly suspend disbelief and promote cordial dialogue. As our conversations continue, surely enough we will see if they are truthful or not, because no non-trader can lie convincingly about trading. And YOU and I, dear readers, are traders ourselves, are we not? So we will know. Not to bias your judgement, but I would not have asked DD-YM and Razor to talk if I did not believe them myself. I have been fooled many times by ET posters, but never for long. Im-posters implicate themselves.
DD-YM, something about your comportment suggests to me that I may ask you tough questions and get straight answers. To me a central issue which persists on ET is the an epistemological, certainly ontological, and possibly even teleological question: Is an aspiring trader better off seeking a mentor or attempting his own education?
Another good question, unfortunately the answer depends on several factors. And keep in mind my answer is simply my own view.
I sometimes imagine what I could teach my own children. The answer is: a lot. But becoming a profitable trader is so much more than executing orders well and collecting profit.
I would actually do disservice to my offspring if I taught them simply mechanical trading, by doing so I would remove an opportunity for them do discover themselves, to discover their own soul if you will.
A good mentor will NOT provide all the answers but will guide the pupil towards the goal slowly, building character and experience.
However, having said that, let us say for sake of argument that I had a rather disinterested daughter. In order to prevent her from becoming a wage slave I would simply give her mechanical trading process. Because she would not have "gotten" it anyway.
So ultimately having a mentor is great but true trading enlightenment only comes from within coupled with tenacity. That is my view on this particular topic.
I am off for today I look forward to tomorrow
DD-YM-trader signing off
Thank you. I don't mind aditting that I am asking you questions like that not only for ET's benefit but for my own, as well.
Now this, please, although I think I already know the answer: Why both DD and YM?
And, since you are evidently beyond "piker" status, what are your views about simply making a decent living from trading and attempting to scale up to own that private island?
Now this, please, although I think I already know the answer: Why both DD and YM?
And, since you are evidently beyond "piker" status, what are your views about simply making a decent living from trading and attempting to scale up to own that private island?
This would be more credible if your interviews weren't with "successful" people having only 9 ET posts...
I have no problem with my own postings. I find a lot of people oppose what I say based on their beliefs. I only deal in hard, cold reality based on studies, testable evidence, independently monitored track records. I am not impressed by testimonials, claims or people who evade opportunity to prove their claims like Jack H and ProfLogic recently did.
Thank you for your readership and comments Rcanfiel and BB.
Something to keep in mind. I have wanted to interview several private correspondent real traders before, and they have all declined. We are fortunate that Razor and DD-YM were willing to expose themselves to ridicule. And I am intentionally not interviewing people who trade huge (but watch out, Spydie!) because I want to hear the stories of what I would categorize as "ordinary" successful traders. For a measly thou a day I would quit my practice in a flash.
And since this thread has attracted people whom I respect (that includes you, BB), please feel free to ask the interviewees questions yourselves after I have gotten through my set list, not quite a Proustian questionnaire, but getting there.
And many thanks to those posters of like mind who may have some inkling of where I am going by conversing with successful traders hopefully using vastly differing methods, but have held their own tongues firmly between their teeth. Your patience will be rewarded. When it is encore time, Dr. Arthur Deco will interview ME.
And again, thanks to brave interviewees. You are not quite up to the standards of synthetic Platonic or Humean dialogue, but you are doing fine!
Something to keep in mind. I have wanted to interview several private correspondent real traders before, and they have all declined. We are fortunate that Razor and DD-YM were willing to expose themselves to ridicule. And I am intentionally not interviewing people who trade huge (but watch out, Spydie!) because I want to hear the stories of what I would categorize as "ordinary" successful traders. For a measly thou a day I would quit my practice in a flash.
And since this thread has attracted people whom I respect (that includes you, BB), please feel free to ask the interviewees questions yourselves after I have gotten through my set list, not quite a Proustian questionnaire, but getting there.
And many thanks to those posters of like mind who may have some inkling of where I am going by conversing with successful traders hopefully using vastly differing methods, but have held their own tongues firmly between their teeth. Your patience will be rewarded. When it is encore time, Dr. Arthur Deco will interview ME.
And again, thanks to brave interviewees. You are not quite up to the standards of synthetic Platonic or Humean dialogue, but you are doing fine!
ProfLogic, looks like you wan to be interviewed, too. My first question might be "How does it feel to be the inspiration for EquiPrice charting?"
well first of all when I stated that I make decent money annually, well I was being humble, last I checked being humble is polite right ???
there are several methods of trading that I use, some more so than others. Primarily I am a day trader, but I have this guilty little hobby of speculating on large market moves on annual basis. For this I use DD cars. (not as many though)
this endeavor is foolish (speculating on large market moves) but it is a hobby of mine.
future on large scale is much greater unknown but I try to absorb information and speculate, I've had "some" success with that
To answer second question, well scaling up is not as easy as most people assume, it really isn't, you reach a point with number of contracts where you MUST spill over into ES and NQ in order to regain ability to move ON A DIME so to speak
I gotta tell you in all honesty, I am not that greedy. To truly grow into a private island ownership, one needs to expand trading to encompass other people or "employees" if you will, it takes organization, training and dealing with people that quite frankly turns your private little game into a full fledged company
I don't need it, I really don't, there is a spiritual side of me too you know.
Perhaps if I was a tad bit younger too
