hmm.no edges in the markets

Quote from dbphoenix:

Given how few beginners and not-so-beginners have no idea how to put together a trading plan, my posting is worth the bother to me.
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You can lead a horse to water...
 
Quote from wrbtrader:

Yet, they all did have some commonalities like discipline, good trade management, good risk management, trade experience and a few other stuff that most traders seem to think is less important that the trade method itself.
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without question

RN
 
Quote from wrbtrader:

Now that you know the ET history with a chat room and that it won't be coming back...not realistically to ask gurus here to post in a chat room.

Anyways, many of the gurus I've seen in the past here at ET have done the "real-time" trades thing or before the fact signal calls...some of them were profitable and others about breakeven. Yet, if you're talking about someone new here at ET that fits your definition of guru...I really don't know whom that may be in reference to any one with a user name less than 2 years old.

In contrast, if you're talking about gurus that have been a member here more than a few years...trying to get them to post real-time calls AGAIN for whatever reason via whatever trading instrument will be fruitless (seriously). I'm sure most would agree that they'll rather see old time gurus post details about their trade methods or post educational value message threads instead of posting real-time calls again to satisfy new members of less than a few years as members of Elitetrader.com
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As for chat rooms, it really isn't necessary for the owners to implement another one. Stinto.net is perfectly fine, for anyone who wants to bother.

But as for getting an experienced trader to participate, that's another matter. I've done a number of chat rooms and they are all essentially the same: loads of people logged in but only two or three people actually there. Everyone else is either in class or at work or in the car or doing laundry or bathing the dog or whatever. These experiences taught me two things (at least): (1) few if any participants are actually looking at what I'm looking at and thus gain little to nothing from the experience (though if they're not really there, I don't suppose it can be considered an experience), and (2) a great many people who claim to daytrade aren't; they're trading during coffee breaks or between classes or whatever, which is a big reason why I shifted my focus at TL to larger bar intervals.

And who, after all, cares? Those I've worked with over the years have received far greater benefit from maintaining journals and logs that focus on their own trading plans than anything they'd gain from just watching me, which, as I pointed out above, few people actually do since they aren't really there.

Anyone who thinks he's going to learn to trade from chat/trading room is ripe for a big disappointment. The only people who argue that one can learn trading in this way are vendors.
 
Quote from burt_schroder:

You can lead a horse to water...
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Which is about all one can do who wants to pass this stuff on. You can't force someone to adopt the behaviors of a successful trader.
 
Quote from dbphoenix:

Which is about all one can do who wants to pass this stuff on. You can't force someone to adopt the behaviors of a successful trader.
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I'd say it was an immense task, taking into account the amount of effort that prop firms go to in finding the right person.
 
Quote from burt_schroder:

I'd say it was an immense task, taking into account the amount of effort that prop firms go to in finding the right person.
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I'm no longer concerned about "finding the right person". People know where I am and how to find me. If no one wants it badly enough to go even that far, I fortunately do have a life.
 
Quote from Redneck:

I can also tell you, based on what I’ve read – DB…, I…, and NOD for that matter…, trade similarly (we see trading alike)

There are more ways to make money trading than one can count – we each need to find our own

RN
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My consistently profitable trading plan was the result of positive influences from several people: al brooks, austinp, bighog, geez, jack hershey, and you.

The single most important concept I've incorporated into my trading was the result of something you shared with me years ago in response to a simple question.

I'm forever grateful.
 
As for real time calls, I'm curious what those desiring this believe they'll gain from it.

ET's chat room was active when I joined in spring 2008 and I actively participated from July 2008 until its demise, when it was continued by Robert Weinstein, where I actively participated for quite some time until I switched to mainly futures trading. I and several others made real time calls every day.

One guy, Geez, announced every stock he was watching, announced in advance of each trade the price at which he was placing his order, as well as his exact stop loss price and profit target. He posted these trades in a Journal here on ET until it got spammed, but he continued to make his live calls for another year or so in the chat room.

He day traded from a laptop and had a job as a contractor too so often was interrupted by his work. Despite these limitations, he had a strict trading plan and in the year I followed him he more than doubled his $70K account.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=148752

So there's proof of a small retail trader earning $100K off a $70K account, all trades announced in advance.

I had no idea the brilliance of what I was seeing right in front of me that year. Much later I "got it".

I don't understand the constant requests for real-time calls. What do you hope to gain?
 
Quote from NoDoji:

My consistently profitable trading plan was the result of positive influences from several people: al brooks, austinp, bighog, geez, jack hershey, and you.

The single most important concept I've incorporated into my trading was the result of something you shared with me years ago in response to a simple question.

I'm forever grateful.
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I'll 'short' this post all day.
 
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