Originally posted by liltrdr
As much as the flame war between institutional people and daytraders is entertaining, it doesn't get us anywhere on Elite. No knowledge shared. Nothing gained. How about you two have a duel. 
Post up some sheets/w-2's w/ names blacked out...anything. It doesn't matter who's numbers are bigger. Odds are they'll be close w/ one guy making a little less or more. The point being traders are traders. Money is money.
Hmm.. I hope it's NOT a war between inst. v daytraders or whatever. Because it's kinda comparing apples to oranges.
But anyhow, I think a LOT of ppl on here are missing the point. It's NOT about $$$. I mean sure money is great and in way it reflects your performance. But TRULY great traders don't think about $ when they trade or even after they done a trade. They think about :
1) Did they follow their strategy correct?
2) Did they enter correctly (according to their strategy)
3) Did they exit correctly (according to their strategy)
4) Did they handle losses correctly?
So, if a trader has a really solid strategy and follows it exactly then he's a truly great trader. The $$ will come as a result. Thinking only about $ will almost guarantee poor performance.
So, it doesn't matter if you have a $10K account or a $100M or $1B fund.
Because sometiems winning is losing and losing is winner. Let's say you didn't follow your rule but by luck your last trade was a winner. That is not really winning. And let's say you follow your rules and your last trade was a loser, that is actually a winnign trade because it teaches good habit and discipline.
Do that and remember that and you'll be a great trader with all the $ you'll even want..
But sadly enough, most people can't!
They rather have turf wars,etc.
trader99
