Did Altucher fail as a trader?

Quote from Vishnu:


- pre computer domination there were simple pattersn that could be picked up and exploited. Note that Schwart made his money buying bonds on Friday and selling Monday. That's not TA.
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Definitions may differ but I think now (used to think otherwise) this is TA.

It is not gambling, it is not FA, therefore, it is TA.
 
Quote from Grandluxe:

This is actually very true and squares with my own experience, many of my old prop colleagues have pretty much been washed out of the game, there was this one guy who was really consistent and i can count on my hands the no of days he was down in a year. I think hes working in some sales job now LOL.

pretty sad man. I dont know why I am still hanging on for, just slowly bleeding to death I guess, but the problem is once you have done this for so long, you have lost any marketable skills in the real world job market. You need sizeable capital to start a business too so i figured that's out, have been thinking about maybe doing grad school but probably somewhat late in my early 30's. PhD at late 30's 40's dosent seem that attractive a prospect. The fucked up thing is all my classmates who actually went into the grad programs right after college all have doctorates now.

What aspect of this do you attribute to the political climate and policies coming out of Washington? I remembered 6 months into the Obama presidency, a lot of set ups, liquidity in many instruments and various stock symbols simply collapsed and they have never returned.
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My suggestions are this:

1. Ask if you have enough interest in markets and trading to go to a different timeframe. For example, swing trading, position trading, longer-term speculation, or investing.

2. If not, ask if you could work for a boss and do a regular job, given the likely pay from your skill set and experience.

3. If not, then look at some form of self-employed business. For example, in the post-bubble areas of the USA, you can buy entire houses for 30-40k and rent them out for 6-8k a year. If you no longer need your trading capital, you could make some pretty nice income just vulture investing on foreclosed real estate in places like Vegas, Phoenix, parts of Florida etc. Then after you get a bit of experience, sell "how to vulture invest in real estate" courses online or do seminars to bring in some extra income - compared to the snake oilers in that field, someone with actual experience and straight-talking could do well.

4. If you want to take a real punt, then move to some booming frontier market abroad, find out who the clued-up players are, bring in capital from USA, take a cut, invest some yourself, and retire in 10 years after a crazy and fun business expat adventure. Just remember not to blow all the dough on booze, toys, and women.

Then there's all kinds of opportunities with online business. Really, if you've kept your trading capital and your drive & initiative, then the world's your oyster. Someone with a bit of capital, some brains, hard-work and a can-do attitude will always be able to make a living.
 
Quote from failed_trad3r:

I agreed, I don't understand some people who say the market barely moves on certain days in 2010 and 2011 and this is because of HFT robots and government liquidity pump and thats killing their ability to make money. Did they even trade in 2005? I looked at charts from 2005, they were even more boring and if I follow their argument they made no money in 2005 either.
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Yea, anyone who traded FX in 2005-2007 feels like in heaven now almost for sure. :)

And by the way, HFT and algos are a good thing IMO, because they also trade quite predictably and exaggerate the breakouts pretty often, so price/volume action in many instruments became easier to interpret, not harder.
 
Quote from failed_trad3r:

Definitions may differ but I think now (used to think otherwise) this is TA.

It is not gambling, it is not FA, therefore, it is TA.
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Indeed. TA is trading based on certain behaviour patterns of the market, that's how I understand it at least. Be it support/resistance (price pattern) or sell on Friday, buy on Monday (time pattern), this is all TA as opposed to fundamental view and quantitative value estimation of the instrument vs. "FV" (in quotes, because I witnessed myself a few cases of how bright, extremely bright and smart quants literally cried in 2008, when their brilliant FV based models suddenly stopped working and they lost epically, because markets were driven by emotions more than ever before at that time).
 
So, what up with the VRNG thing? He writes an article which implies that Google might go to 0$ and some obscure penny stock might reap billions. 30M$ for a company with negative equity and no sales. If this isn't stock manipulation, I really wonder what is. Strange, this coincidence with this post about how nobody makes money except manipulators. Sorry, this looks and feels like a pure pump&dump. Nothing good will come out of it, perhaps some $$$ on the coming inevitable up&down swing. So that is where the easy money is... capitalism at its finest.
 
Quote from macrotrader:

So, what up with the VRNG thing? He writes an article which implies that Google might go to 0$ and some obscure penny stock might reap billions. 30M$ for a company with negative equity and no sales. If this isn't stock manipulation, I really wonder what is. Strange, this coincidence with this post about how nobody makes money except manipulators. Sorry, this looks and feels like a pure pump&dump. Nothing good will come out of it, perhaps some $$$ on the coming inevitable up&down swing. So that is where the easy money is... capitalism at its finest.
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Well, I don't recommend any stock in the article. So its not a pump. I also provide all the links to my sources of research. So do you own research instead of slinging vomit my way

And finally, I'm a long-term holder. So no dump.

Why do you guys ONLY insult. Its really infuriating. Just go out and use your own wits to make money instead of insulting me.
 
Quote from Grandluxe:

This is actually very true and squares with my own experience, many of my old prop colleagues have pretty much been washed out of the game, there was this one guy who was really consistent and i can count on my hands the no of days he was down in a year. I think hes working in some sales job now LOL.

pretty sad man. I dont know why I am still hanging on for, just slowly bleeding to death I guess, but the problem is once you have done this for so long, you have lost any marketable skills in the real world job market.
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crude-oil futures. same today as they were ten years ago. or better

end of story
 
Quote from Vishnu:

...Why do you guys ONLY insult...
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Excedllent question. I didn't insult you a single time during our exchange, and yet you implicitly questioned my credibility. Why is that?
 
Quote from Brass:

Excedllent question. I didn't insult you a single time during our exchange, and yet you implicitly questioned my credibility. Why is that?
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Only because you asked me 10 different questions in a row then acted like you asked only one.

To me that smells of lack of credibility. You're anonymous (you switch identities in fact. Presumably because you want a fresh start on credibility.

i get it.

but, for me, its different. I'm out there with my real ugly face, my real identiy, eveyr day trying to help people on my blog on all sorts of issues (i rarely write about stocks) and it just seems a tad unfair the kind of treatment you and others have been giving me here.

I'm not complaining. And elitetrader loves the traffic. But its just getting old for me.
 
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