You get that by simply buying low and selling high or vice versa. Many stocks do that every day with big moves. Trading to capture pennies will fry your balls, your brain, and eventually your account. Is that what you want??
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Deal for New trader
- Thread starter Purple Barney
- Start date
You get that by simply buying low and selling high or vice versa. Many stocks do that every day with big moves. Trading to capture pennies will fry your balls, your brain, and eventually your account. Is that what you want??
Quote from Purple Barney:
And my question is does any edge exist and can i learn it. If its yes, then that is my goal. "Making money" is only a product of this edge/skill, not a goal.
Edges are not learned, they are acquired. LOL. And they are very, very expensive to acquire. Skill can be learned. And again, one can make money WITHOUT an edge. But if you must trade a product with a high vig, you better get yourself some "edge". LOL.
Quote from Maverick74:
OK, maybe it's my writing skills, but you are missing every point I'm trying to make here. One, you are confusing skill with edge, don't do that again. They are not the same thing. A lot of people have skills. Few have edges. Yes, I believe there are a lot of lucky people who have been streaky and profited by being at the right place at the right time in history. Not all people, but a lot of people.
Now on to your next confusion. You seem to think, again maybe it's just my poor writing, that if one does not have an edge, they can't be profitable. I never said that. I asked you on the first post of this thread, why are you trading equities? I then went on to further explain to you why I thought equities was a poor choice because of the high vig. I then asked you what edge you had to overcome this high vig. Now you are talking about Michael Jordan and Johnny Chan and skill. LOL. Obviously you and I are having completely different conversations. Again, maybe that's my fault.
Look, I'll say it again, anyone can make money trading any product. Guys that make money, make money because they either have an edge, or they are simply great traders. Usually if they don't have an edge, a trader will wish to trade the product that has the least vig or obstacle to being profitable. Hence the reasons why not a lot of guys on ET are trading pork bellies.
Therefore I suggested a product that would be optimal to trade considering the fact that you mentioned you had no edge. I think I have clarified my thoughts more clearly this time around.
Ok, sorry if I misunderstood you. It sounded like you thought there is no money to be made in equities, since a school teacher would make more, and that the Zangers in the world are products of randomness.
When i said "edge", i meant the thing that makes a winning trader. I guess you meant commission/cost when you said edge. Misunderstanding. Sorry.
And again, I will be trading equities because I am familiar with it, I have traded equities retail for 9 years. But i think if you learn how to trade, you can trade anything, so in the end i'm sure i will be trading the products you suggested.
However, as long as good profitable equities traders are out there, and if they aren't a product of randomness but skill(which I believe), then trading equities CAN still be very profitable, even with the high vig, as long as you are good at it.
Now if you are talking about scalping then thats completely different, since that would be ALL about the "edge" you are talking about.
Quote from Purple Barney:
Ok, sorry if I misunderstood you. It sounded like you thought there is no money to be made in equities, since a school teacher would make more, and that the Zangers in the world are products of randomness.
When i said "edge", i meant the thing that makes a winning trader. I guess you meant commission/cost when you said edge. Misunderstanding. Sorry.
And again, I will be trading equities because I am familiar with it, I have traded equities retail for 9 years. But i think if you learn how to trade, you can trade anything, so in the end i'm sure i will be trading the products you suggested.
However, as long as good profitable equities traders are out there, and if they aren't a product of randomness but skill(which I believe), then trading equities CAN still be very profitable, even with the high vig, as long as you are good at it.
Now if you are talking about scalping then thats completely different, since that would be ALL about the "edge" you are talking about.
You are still not listening to me. No where did I say edge was about commisions or cost. Am I really communicating that poorly?
Equity trading can be profitable. I would not go as far as to say "very" profitable. LOL. I would still be that the average teacher will probably earn more in his/her lifetime then you as an equity trader. I'm not saying this as an insult to you as I don't know you, I'm speaking in general terms. The equity game is dead. And I don't think I had one post on this thread concerning scalping. Are you sure you are reading my posts? LOL.
Quote from Maverick74:
You are still not listening to me. No where did I say edge was about commisions or cost. Am I really communicating that poorly?
Equity trading can be profitable. I would not go as far as to say "very" profitable. LOL. I would still be that the average teacher will probably earn more in his/her lifetime then you as an equity trader. I'm not saying this as an insult to you as I don't know you, I'm speaking in general terms. The equity game is dead. And I don't think I had one post on this thread concerning scalping. Are you sure you are reading my posts? LOL.
Ok no where did you say edge was about commissions or cost? Well what in the world is this edge you are talking about then. Your whole point was equities was a bad choice because of the high vig. Thats not talking about cost?
Ok so equities trade CAN be profitable... but just not that profitable? I'm confused. I thought trading(any kind) was scalable. So if any trading can be profitable(at all) consistantly, it can be scaled up to yield larger profits. So if once i learn how to profitably trade 100 shares, why can't i do the same with 100,000? How can it be "dead" and profitable at the same time, given trading's scalable nature?
omfg purple barney - you hold up richard dennis and zanger as your heroes??? lol, didn't you hear - richard dennis blew up a fund and retired in shame. and as for zanger, he runs a vending service that i'm sure pays for his mortgage. and don't even try to argue with maverick - he runs a prop firm and probably has seen hundreds of traders come and go - he knows whats up probably better than 99% of folks on ET.