Does any one make money intrady trading

[kjkent1]

Quote from piezoe:

Repeat the offer a few times and I think you may well find a taker. But you are not offering a great deal, unless you really mean to just sit their and watch. Because , for example, if you were watching me trade with no explanation of why i was taking the trades i did and rejecting others, you probably wouldn't be able to figure out what i was doing by just watching alone. I have been trading many years, but not day trading your requisite 5 years, and i don't earn substantially all of my income from day trading, though i trade "full time," so i don't qualify, and likely never would because i have substantial, other sources of income. It is likely though that you will find a taker if you repeat your offer. Yes you can make good money day trading. Go back and read Cocaine's post. That pretty much sums up the situation. It is not easy to learn, but once you have got it right, you have got it. Look at the Profit/Loss Thread on ET, and you will find that there are a number of very good traders posting on ET.

Hey, I was negotiating for considerably more than $10K at several points. But, when the rubber met the road, and I asked the person to sign IRS Form 4506 for the preceding 5 years, all of a sudden, the offer vanished in a puff-o-smoke!

So, while I willingly concede that there are probably more than a few very successful daytraders around, it appears that none of them will be interested in showing a complete stranger, such as myself, how to make a living trading.

Maybe one day, someone who needs a friend more than he needs money will give me a break and show me how it's done. Until then, I'll just keep making a living the old fashioned way: day"job"ing!

 

[NihabaAshi]

Quote from richrf:

I think that someone should be able to step forward with a counter offer of some sort. It would be interesting to track to progress.

Rich

A few step forward and offer for FREE.

However, I don't know if they met the extensive requirements he had.

Simply, if I had a sincere interest to learn...I would have at least taken the free offers.

Then again, maybe he did in the past and what was shown to him on the plate wasn't good trading info and that may have pushed him to travel the route of paying to be mentored via thinking if you pay for it...

It must be better than the free stuff.

My obvious bias in looking for a good mentor is to do it as a challenge...

Wrong mindset and hints of problems for any good mentor that would qualify via his terms.

Mark

 

[richrf]

Quote from NihabaAshi:

A few step forward and offer for FREE.

My obvious bias in looking for a good mentor is to do it as a challenge...

Wrong mindset and hints of problems for any good mentor that would qualify via his terms.

Mark

Fair enough. I live in Chicago and would welcome free bona fide mentoring advice. However, if the process does not suit my personality, I would like the reserve the right to terminate the relationship, since it would not be serving any purpose.

Rich

 

[piezoe]

Quote from kjkent1:

Hey, I was negotiating for considerably more than $10K at several points. But, when the rubber met the road, and I asked the person to sign IRS Form 4506 for the preceding 5 years, all of a sudden, the offer vanished in a puff-o-smoke!

So, while I willingly concede that there are probably more than a few very successful daytraders around, it appears that none of them will be interested in showing a complete stranger, such as myself, how to make a living trading.

Maybe one day, someone who needs a friend more than he needs money will give me a break and show me how it's done. Until then, I'll just keep making a living the old fashioned way: day"job"ing!

Kjkent, there is one more aspect to this i should have mentioned, and that is even if someone was to very explicitly explain to you exactly how to trade and demonstrate it for you, you would not necessarily be able to make good money. And there is a simple explanation for that fact: Some people, even if shown exactly what to do, once on their own, are not emotionally capable of doing what they have been taught. And that's because they simply can't resist the deep seated human urge to second guess the market, instead of simply going where the price-volume, S/R, and market internals say the market is going.

 

[kjkent1]

Quote from NihabaAshi:

A few step forward and offer for FREE.

However, I don't know if they met the extensive requirements he had.

Simply, if I had a sincere interest to learn...I would have at least taken the free offers.

Then again, maybe he did in the past and what was shown to him on the plate wasn't good trading info and that may have pushed him to travel the route of paying to be mentored via thinking if you pay for it...

It must be better than the free stuff.

Mark

There is no such thing as a "free" offer in my experience. Everything has an opportunity cost. Frequently something offered for free ends up being more expensive than something paid for.

 

[kjkent1]

Quote from JimyJam:

He's saying that you're a loser, kjkent1, but he's being very nice about it.

There's no way anyone is actually going to drop the full spectrum of reading price action, entry, exit, risk managment, money managment, psychology, hardware, software, etc., etc., for your lazy ass, sign-off on all of your bullshit documents and have to deal with you for a measly 10 G's.

Come on man, get real.

JJ

Ah, and now begins the ad hominems.

I am one of the least lazy people you will ever encounter. And, tax returns as proof that someone can actually generate the income from a profession where there is no physical plant, employees, goodwill, etc., is a completely reasonable request.

Franchisors routinely require such information from investors, so nothing I'm asking for is even remotely unusual.

 

[NihabaAshi]

Quote from kjkent1:

There is no such thing as a "free" offer in my experience. Everything has an opportunity cost. Frequently something offered for free ends up being more expensive than something paid for.

I agree partially...see my many past posts at ET about the word FREE involving mentors.

For example, a good mentor will look at your trading environment, equipement et cetera to look for surface problems.

That mentor will then tell you what needs to be upgraded...such can cost a few hundred dollars or several thousand dollars...

All under the headline word of free.

A bad mentor wouldn't care if you don't have the proper tools to trade nor care about your trading environment.

The point I was making was that there were offers by others to help you for free...

Offers that could have open up other doors elsewhere (networking) to get you where you wanted to go and that gets back to the issue about having a sincere interest in trading profitably via the help of a mentor.

Mark

 

[Boib]

Quote from richrf:

Fair enough. I live in Chicago and would welcome free bona fide mentoring advice. However, if the process does not suit my personality, I would like the reserve the right to terminate the relationship, since it would not be serving any purpose.

Rich

So after verifying that I can make money trading for 5 years in a row. If my method does not suit your personality what good does it do either of us?

It's not so much methodology as emotional control that make the difference. No one but you can control fear and greed.

 

[kjkent1]

Quote from piezoe:

Kjkent, there is one more aspect to this i should have mentioned, and that is even if someone was to very explicitly explain to you exactly how to trade and demonstrate it for you, you would not necessarily be able to make good money. And there is a simple explanation for that fact: Some people, even if shown exactly what to do, once on their own, are not emotionally capable of doing what they have been taught. And that's because they simply can't resist the deep seated human urge to second guess the market, instead of simply going where the price-volume, S/R, and market internals say the market is going.

I don't deny the existence of the "you either got it or ya ain't" argument. I've just never seen anyone who's actually "got it."

 

[Algorithm]

kjkent1 = The Amazing Randy of ET.

Even he (Randy that is) will pony up 1M for the challenge.

Look, face it, no trader that makes money consistently is going to stop for 10K. The amount of a kink you're going to put into that trader's routine and the inevitable "stupid questions" that are going to ensue are going to cost more than 10K that year.

You see, there are not many top tier athletes, artists, musicians, etc.....
The reason? Simply put, it's too phucking hard for the average. Do you think Lance Armstrong would stop to give you the time of day for 10K? Then put up with all the red tape you (obviously a lawyer, not surprised can't make it) are throwing out there?

If you want it, put the time into it. It's going to cost you more than 10K my friend. Hell, 10K, that's within many a trader's tolerances for monthly drawdown.

Good Luck!