Did Altucher fail as a trader?

Quote from austinp:

With all due respect, you've been in this site half the time as me with twice as many posts and rising. I spent my time invested in discretional trading instead of posting about hypotheticals and systems and revamped systems.

If you know where to find me, you can see where I walk the talk about short-term CL trading, FX trading.

The only thing I want my computer to program for me is automated updates from the NFL on ESPN.
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Austin...why bother. Beau is a blowhard who blabs about his system that is so good that he is worried about position limits with the CME down the road. Funny considering others said his systems lose money on that paper trading site that follows systems. I mean he does trade an account with 150k so he should be concerned with CME position limits. Hilarious. The guy is either completely insane or so uniformed it's frightening.

It's funny how people on here who trade a certain way think that their way is the only path to success. For the record I know PLENTY of traders out there doing very well (and not guys trading a 150k book....much more) who are more of the old school type traders....not the quant type guys Beau daydreams about. The guy is a clown.
 
Quote from austinp:

Bullshit.

Just the usual message-board drivel from guys who are myopic over "trading" being synonymous with "stocks" and no other financial markets even exist.

Stock market trading for individuals may very well die a withering death. But any skilled trader in firm control of his emotions can follow some simple price action rules that have worked forever in markets that still (and always will) have a pulse like currencies or crude oil.

For anyone who really knows what they are doing, short-term CL trading is much like stealing from the comfort of you own home, only easier.

For the gamers, gamblers, lazy losers, ES addicts and stock myopics who think they have all the answers when in reality they don't even know the right questions, yup... they are likely road-kill waiting to be flattened.
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Funny.....I have heard of plenty of quant type funds that have gotten decimated in the past. Not saying some aren't very profitable, but those who seem to think that quant/computer driven funds can't get clobbered...well.....are uninformed or lazy.



" But any skilled trader in firm control of his emotions can follow some simple price action rules that have worked forever in markets"



I couldn't agree more. I started trading in 1990. A LOT of the same idea/strategies still work. Just have to put the time in and do the work. Most of the 95% that fail are lazy, are crazy emoitonal when trading, gamblers, and have no idea how to manage risk.
 
Quote from Vishnu:

I love reading this thread.
-James Altucher
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James, you're overdue to go back on The Daily Ticker with Aaron Task and Henry Blodget. I can tell they enjoy having you on.
 
If you've ever woken up dreaming about topological probability spaces in the markets, then, yes, maybe I do dream about quants, or it can be the Emmanuel Derman <u>My Life as a Quant</u> in me.
 
Quote from badvestor:

...If you do not have genius level IQ that can grasp advanced mathematical concepts and advanced programming skills, you're going to be road kill...
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Bad information. Great user name.
 
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