Finding Work after Quitting Daytrading

[justrading]

All I see is someone who is burnt out/disillusioned with day trading. All he can see right now are the negatives.

As for the Every Loss is Permanent thread, perhaps he looked at his recent results and saw it was 3 steps forward and 2 steps back, so rather than asking if the nett 1 is worth it and can be improved upon, he adds up the 2s and goes coulda woulda shoulda. One of those existential questions when you are down.

Cut the guy some slack, his problem is between the ears. Maybe he genuinely wants to move on, in which case constructive suggestions would help.

Telling him to join the ranks of snake oil salesmen doesn't help him or newbie traders who buy snake oil. At the very least encourage him to do something where he can look in the mirror and be proud of what he sees. He comes across as too sensitive to respect sleaze.

 

[kut2k2]

Quote from Pigsky:

other guys like acary who said he was very successful are living in cheap houses with mortgages..... so the stories donnt add up

Where did you hear this about acrary?

 

[pinkman]

Quote from jl1575:

That is not true. At least Anekdoten and Nodoji are two very successful day traders besides probably many others.

My post was my interpretation of the OP's point regarding the 'lack of skill'
Not necessarily my own views.

Quote from Pigsky:




How does anyone know Nodoji or Anek are successful?

Maybe they are or maybe they aren't.... in reality, you just don't know....

Lots of people think mfbreakout at BMT is a super star, and people thought that at ET too when he posted here, but he has been proven a liar many times over....

other guys like acary who said he was very successful are living in cheap houses with mortgages..... so the stories donnt add up

Good post.
'mfbreakout'!
My God. I'd forgot about him.
The sole reason I no longer visit Big Mikes forum.
The most unworthy guru i've ever seen.
Monday morning quarter-back of the worst kind with his +200 ticks everyday on the CL all called retrospectively in delicious hindsight!! lol

 

[icarus618]

Quote from HurricaneUS:

and let's not forget Jack "$80K tax bill" Hershey

The way it usually works is like this: the bigger the tax bill, the bigger the income at stake. When you get assigned both a collector and a field agent to your case, you will know that you have arrived.

 

[gmst]

Quote from Pigsky:

other guys like acary who said he was very successful are living in cheap houses with mortgages..... so the stories donnt add up

How do you know this? Once you read the content that acrary has posted on ET, its pretty clear that he is pretty sophisticated in his understanding of markets and his analysis. He mentioned few times that he is very successful and also that he has got head trading position.

So, it sounds very implausible when you say he lives in a cheap house with mortgages. How do you know this?

 

[gmst]

Quote from pinkman:


'mfbreakout'!
My God. I'd forgot about him.
The sole reason I no longer visit Big Mikes forum.
The most unworthy guru i've ever seen.
Monday morning quarter-back of the worst kind with his +200 ticks everyday on the CL all called retrospectively in delicious hindsight!! lol

Was he selling something in addition to his posts on BMT? When he was active on ET, as far as I know he was not selling anything.

How did he get unmasked that he is calling trades in hindsight?

 

[Trader.Fighter]

Quote from gmst:

Was he selling something in addition to his posts on BMT? When he was active on ET, as far as I know he was not selling anything.

How did he get unmasked that he is calling trades in hindsight?

Nothing amusing about this anymore, it's a common action in forums these days, sadly.

 

[bwolinsky]

Quote from justrading:

All I see is someone who is burnt out/disillusioned with day trading. All he can see right now are the negatives.

As for the Every Loss is Permanent thread, perhaps he looked at his recent results and saw it was 3 steps forward and 2 steps back, so rather than asking if the nett 1 is worth it and can be improved upon, he adds up the 2s and goes coulda woulda shoulda. One of those existential questions when you are down.

Cut the guy some slack, his problem is between the ears. Maybe he genuinely wants to move on, in which case constructive suggestions would help.

Telling him to join the ranks of snake oil salesmen doesn't help him or newbie traders who buy snake oil. At the very least encourage him to do something where he can look in the mirror and be proud of what he sees. He comes across as too sensitive to respect sleaze.

I'm just going to be clear to you:

<b>I have made hundreds of thousands of dollars for people. There's no snakeoil, and just because I sell my personal trades it really is insulting to hear you talk about how newbies buy financial advice. It's trite, and it's petty.

It should never be the case that every financial advisor is snakeoil. That's ridiculous. If you really want to know what I have in my cards, My income says plateau out at $50 million per year for 2 decades. If you don't invest there's no reason to assign this comment because I brought up actually trusting somebody who really does know something about the market.

The snakeoil crap has got to stop, because all anybody wants to do around here is claim snakeoil simply because you sell financial advice and your trite, meaningless commentary will be seen as just that because snakeoil doesn't come with $115,000.</b>

 

[pinkman]

Quote from gmst:



How did he get unmasked that he is calling trades in hindsight?

By the fact that he calls trades in hindsight.
There's nothing to unmask.
It couldn't be anymore obvious if he tried.
Sometimes it's just an end-of-day roundup where he shows you on a chart where he made his entries to get him his 200 ticks profit.
Sometimes he'll say, gone long at 99.80 when the market hasn't traded there since 40 minutes ago and is now up at 100.99.
Like most gurus, the thought of calling trades in realtime in a chatroom with voice features so that there's little to no room for cheating scares the crap outta him.

Even Big Mike himself once called him on his BS which was good to see, although he didn't take it any further, unfortunately.

 

[Australianjoe]

There's probably one or two winners on this forum. Has to be.
Although, I wonder what part 'survivorship bias' plays.
Is there a lottery ticket forum anywhere online where people who have won large sums of money are giving advice on how best
to buy winning tickets ?