Elite Day Trader Paul Phillips Bruised By Market

d08 said:
Might be a phishing site, be careful.
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I agree.
the domain name seems kind of weird, or fake, ...ibloomberg.net
...an "i" in front of a well known name, and who uses a .Net domain name -- it probably is a fake website clone version of Bloomberg.com

(if it is a fake site, marketsurfer should be banned for promoting that sh*t) :confused:
 
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@lawrence-lugar I actually had no response from the site, it's possible a script ran in the background.
Agree that these sorts of things should not be posted, the name itself implies it's trying to pretend to be Bloomberg.
 
"... great sim-trading runs..." can mostly be achieved by trading a position, which carries very small risk to trading capital. Very few (hardly any) retail daytraders or even professional ones can hold onto a position that is too big for their capital. Please stop sim trading as it has no relevance to the real world, apart from learning how to operate the program.
 
Well, I don't know of any non-sim traders, especially discretionary old-fashioned day traders, who have big runs in these computer-traded markets (futures). You would need some sort of automated script to ensure you get a proper exit, the markets move way too fast for manual clicking and risk management now.
 
Q3D said:
Well, I don't know of any non-sim traders, especially discretionary old-fashioned day traders, who have big runs in these computer-traded markets (futures). You would need some sort of automated script to ensure you get a proper exit, the markets move way too fast for manual clicking and risk management now.
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Markets are too fast only if you're trying to scalp. Worst, traders that call themselves scalpers...they don't even have access to scalping resources. Simply, they were doom even before the first trade.

Yeah, if the markets is too fast...you either need automation or know your target and then place an order at your target so that it eliminates the manual clicking process.

Do not enter a trade if you don't know your target.
 
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Q3D said:
Well, I don't know of any non-sim traders, especially discretionary old-fashioned day traders, who have big runs in these computer-traded markets (futures). You would need some sort of automated script to ensure you get a proper exit, the markets move way too fast for manual clicking and risk management now.
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I know plenty doing very well. These are guys who have been in the biz as same as me. 20+ years. We don't have some automated script for exits. If you could trade futures 15 years ago, you should be able to trade them today. The whole "markets move too fast" is a lame excuse for failure. The whole "computer-traded markets thing makes it impossible" is just a crutch for those looking to blame their struggles with trading.. Like Surf said, adapt or die. Trading is trading. The markets have been moving the same for a long time. If you can't close a position by manually clicking trade then it's most likely a discipline issue. Not a market is moving too fast or software issue. I have traded RBOB and Heating Oil at times manually and had no problems. Those are 2 of the fastest and thinnest markets.
 
EPrado said:
I know plenty doing very well. These are guys who have been in the biz as same as me. 20+ years. We don't have some automated script for exits. If you could trade futures 15 years ago, you should be able to trade them today. The whole "markets move too fast" is a lame excuse for failure. The whole "computer-traded markets thing makes it impossible" is just a crutch for those looking to blame their struggles with trading.. Like Surf said, adapt or die. Trading is trading. The markets have been moving the same for a long time. If you can't close a position by manually clicking trade then it's most likely a discipline issue. Not a market is moving too fast or software issue. I have traded RBOB and Heating Oil at times manually and had no problems. Those are 2 of the fastest and thinnest markets.
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Are you saying Crude Oil Futures traded at the same per-second speed in 2000?
 
EPrado said:
Please answer some questions. Prove me wrong. Seriously. You can shut me up.

Why did you post this article? What is the purpose of posting an article about a day trader who lost roughly 1500 dollars ?

What are your thoughts about the information in it? It says the trader lost money in the energy markets because volatility picked up in August. The fact is volatility dropped in August in the energy markets. Do you feel the guy who wrote this knew what he was talking about ?
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I agree, the article has inaccuracies ---clearly-- it came across my desk and i thought it was from Bloomberg. I see now that it isn't. The original article was in WSJ ---

With that said-- Mods please take the link down or just kill the post.

I reported it directly.

Thanks. surf
 
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Q3D said:
Are you saying Crude Oil Futures traded at the same per-second speed in 2000?
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I traded ES at the firm I was with in 2000. Was not trading Crude. That being said I am sure it is trading faster today. If someone was able to scalp Crude for 2-3 tick trades back then , then yes...they would have major difficulty today doing the same thing. But I am talking about scalpers here. Not day traders that go for let's say 30-50 ticks in Crude. Those same traders who day traded CL for 30-50 ticks should not have any real problems today vs 2000. But back in 2000 I believe a majority of the crude trades were taking place in the pit, so I am not sure if anyone was really day trading CL on the screen. I know nobody at my firm was (and it was the biggest firm out there in the 90's-2000's). I traded ES in 2000 and ES today and have zero issues getting fills/exits now vs then.

Have things gotten a bit faster ? Absolutely. But not enough to say that someone must have some sort of script to get out of a position. That's just a lame excuse.
 
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