Trained at a prop firm, I'm not surprised. There's so much more to trading than chart watching and rarely losing paper trading
hmm.no edges in the markets
- Thread starter chimera
- Start date
Trained at a prop firm, I'm not surprised. There's so much more to trading than chart watching and rarely losing paper trading
Quote from wrbtrader:
Oraclewizard didn't make it.
Which ET members did the test and survived ?
There should be a Combine Cup, kinda like the Stanley Cup.
To date,only Crispy's name is on it?? But even he seems to be moving on to pastures that are greener?
With one ET name on the Combine Cup, someone should complain to management. What kind of show are we running here.
I would like to see the traders who have lasted 6 months plus after being funded. Those are the truly talented ones.
Good for him if he's found something better than the Worldco fiasco. He found a way back into that door again. Hopefully, they'll fund him a ton but he may have already gone elsewhere.
Also, there's a few guys with profitable journals in the past (a few years back) here at ET via a small trading account that were looking for funding. I remember one of them actually starting a thread about looking for funding. Hopefully he's still around with this new sponsor having combine tests.
Gotta be careful about which prop firm you join. I have a buddy that is currently looking for a new job in the wake of what's been occurring at his firm @ http://blogs.wsj.com/moneybeat/2013/06/05/german-firm-quits-over-tough-high-frequency-trading-rules/
If so few can "make the cut" posting trading records, what does that tell you about edges and trading in general?
When I started, I looked for a mentor. I was surprised to find a dearth of quality traders waiting to tell me what to do. I understand why that was a whole lot more now. The absolute worst thing one can do is make money when others are losing it. So I will tell others it is a tough market rather than tell them how I am doing. One keeps more friends this way.
I submitted a 3 month portion of my trades to a consultant once and he was immediately trying to figure out what I do. He had said that he wouldn't do that. Most of what he reported on was nothing unexpected. The only odd thing was that my trades were unusually serially correlated. I knew instantly what caused that. He didn't. There is no point handing out trading records to anyone. Newbi's all want something for nothing, edges can decay, and proving your success is meaningless but money in the bank is meaningful to a good trader. It is the score keeping not the magic solution that counts IMO.
I have changed systems over the years adapting to market changes. The system is not the most important thing anyways. There are methods most on here haven't even dreamed of.
Newbi's: you can catch more flies with honey than vinegar!
When I started, I looked for a mentor. I was surprised to find a dearth of quality traders waiting to tell me what to do. I understand why that was a whole lot more now. The absolute worst thing one can do is make money when others are losing it. So I will tell others it is a tough market rather than tell them how I am doing. One keeps more friends this way.
I submitted a 3 month portion of my trades to a consultant once and he was immediately trying to figure out what I do. He had said that he wouldn't do that. Most of what he reported on was nothing unexpected. The only odd thing was that my trades were unusually serially correlated. I knew instantly what caused that. He didn't. There is no point handing out trading records to anyone. Newbi's all want something for nothing, edges can decay, and proving your success is meaningless but money in the bank is meaningful to a good trader. It is the score keeping not the magic solution that counts IMO.
I have changed systems over the years adapting to market changes. The system is not the most important thing anyways. There are methods most on here haven't even dreamed of.
Newbi's: you can catch more flies with honey than vinegar!
Sure, worldco went under but before they did guys were taking home $100k per week-- just average joes--- the reason is worldco taugh an edge. How are the vendors on elite's students doing?
I am living proof you can lose your ass paper trading, ha. Never paper traded at all, PERIOD, until I was experimenting with different time frames and toys during the last year or so aside from some live.
I totally understand paper trading because I can make cash dodging real bullets. Paper trading is fine to try out new tactics etc. Truth be known, paper trading for a good trader can develop bad habits because the results are not real. Talk about losing your discipline, just paper trade like a fool and you will amaze yourself how fast you can lose a fortune just as fast as making one....... HAhahaha!!
I see another myth developing on ET.......... "prop trading is where you learn how to make your fortune" I beg to differ....
FWIW: When I finish what I am working on now I will report what it is. It will (is) so easy to work and the results so good many will not believe a word I say. I will later give inside results to a couple great traders on this site with LIVE blow by BLOW in the moment Skype results. Bighog is going to have a "second act"
A clue: it will NOT be about scalping nor will it be swing trading, just intraday stuff... BYEDoes anyone know if Topstsep has found anyone who can legitimately trade for a US-based living?
I know they have funded many traders, but there's nothing said about how long they stay funded, and if so, how much they bring in. All I remember is last year the CEO said they have consistent traders but no one making six figs or high five figs.
If in 3 years of scouting they haven't found anyone who can do better than low five figs a year-- what does that say about anyone's chances of making a living as an at-home futures daytrader?
I know they have funded many traders, but there's nothing said about how long they stay funded, and if so, how much they bring in. All I remember is last year the CEO said they have consistent traders but no one making six figs or high five figs.
If in 3 years of scouting they haven't found anyone who can do better than low five figs a year-- what does that say about anyone's chances of making a living as an at-home futures daytrader?
