How do famous swing traders like Dan Zanger size up so fast?

[traider]

The biggest risk Steve took was being the recipient of "special information"..

Flirting with law is also a risk taking endeavor

 

[Specterx]

Finally, someone seems to get it by doing the math. Yes, these gains in that time period do not fit the picture in any way, so someone is lying.

Kullamaggie doing strategies on daily charts, strick money management and now claiming he went from 5M to 80M in like 2 years or what not? You literally need to be all in in every trade AND WIN every trade to make that happen. Yet he claims that the win rate is like 30%+ or smth. And given the statistics of markets moving relative to ranging and given that the strategies are mostly triggered on daily timeframe....come on dude. Bunch of fcking BS.

I would normally agree, except tax returns in Sweden are public (if you pay a small fee). There are references online in Swedish publications to a youngish male taxpayer who paid around $30 million in CG tax in 2021, and someone on this board claimed to have paid for the records and confirmed that said taxpayer was KK.

 

[smacdtrader]

When you have pocket aces you know what you have. When youre trading you dont know that you had pocket aces until after. Its a different game. You follow your plan but like Mark Douglas said you treat every trade the same and just put on the trade because you never know what the future will yield. Pocket aces you can see in hand and know your chances with that hand are outsized.

True, but you can know what your probability of winning and potential profit is, which is the same as knowing what cards you have against the board. There could also be exogenous variables to your trade that are the equivalent to pocket aces, like specific market conditions or economic factors, etc.

 

[M.W.]

It's called entertainment, and there are a few gems within the roughs. And it's "made", I retired at the age of 45.

U make 30MM a year yet you immerse yourself with some loser traders from ET... Lol

 

[smacdtrader]

You can train someone to learn the trade but there many traits that can't be learned to be a good risk manager. One has those traits or one does not. You can't magically change a person's DNA makeup. That's not just my belief, thats what every seasoned trader with long term positive track record will tell you and what the original turtles experiment also revealed. Very few who possessed those inborn traits made it, the rest fizzled out and went for other careers.

What surprised me about your post is that you start denying the above but in the latter part of your post say exactly what I just stated. Without being "wired right" you can get all the training in the world but won't make it. Wired up for me means what you are born with, not how someone shapes you.

No disrespect, but I am exhasusted of this comment/argument. This statement is just true for being excellent at anything. Trading is not special, it's arguably lame in the pantheon of things to be excellent at.

 

[taowave]

I think we are on the same page

Flirting with law is also a risk taking endeavor

 

[M.W.]

Not bitter, just fed up with hearing how anyone with a big mouth on YouTube and flashy statements is elevated to a trading god. I personally could not care less but somehow I show concern for the serious and ambitious beginner who comes across that crap and is mislead. I don't doubt for a second that there are very few individuals who trade retail and are way more successful than I am, why would there not be. I make about 20% every year, plus minus a few percent. Every year since around 2012. So, yes, there are some who have made way more each year for the past 10 or more years. But the majority of those who try to monetize their self claimed success are not the ones belonging to this group. I get angered when I hear bullshit presented as a mantra with the express intent to mislead beginners.

So we are in agreement that managing risk on Stock positions,no derivatives is a relatively simple task that doesnt require much more than simple math and iron clad discipline"..

LOL@ blowing up accounts and showcasing the periods of success... Thats flat out NAUGHTY..

I know where you are coming from,but would like to believe that Jack Schwager does his due diligence before choosing the traders for his Market Wizard books...

Specific to this topic if you read Momentum Masters,Dan Zanger is a guy who took outsized risk way back when and fully realizes it now...David Ryan,Minervini are guys who appear legit and excel at their craft. Minervini's students have won the Zadeh Championships,and Ryans son just returned 120% plus using chart patterns,RSI and tight stops.. Mark Ritchie II son of Mark Ritchie (Founder of CRT) is from all accounts (my friends who know him well)a stand up guy who has produced outsized returns.Hes a a student of Minervini.

I have also worked on derivative desks and know dam well its a walk in the park relative to trading your own capital. You seem a bit bitter..Whats up???

 

[taowave]

Cmon Bro,if you are a director and above,forced to take 25% of your comp and put in in company stock at a 25% discount ( raging bull market),anyone could retire at 45..

Not an insult,I did the exact same thing,and Im nothing special

It's called entertainment, and there are a few gems within the roughs. And it's "made", I retired at the age of 45.

 

[M.W.]

I would consider traders presented by Schwager to be legit, to give an example. I started with about a 1 mil account and currently am sitting on around 12.5 million. I don't walk around to monetize that or teach others. Hence I don't consider it my responsibility to have to provide any evidence to anyone. But I believe it should be the absolute minimum requirement to prove claimed success for anyone who charges money to teach others, whether directly through fee arrangements, or youtube views.

Perhaps you missed the question I asked you earlier in the thread. Who do you consider a great trader and why? Give me some names. And a related question how much have YOU made in your personal trading account from trading? Not your firms,your personal account. Since you feel you're qualified to bad-mouth Kullamagi I assume you've made several million from trading your personal account.

 

[M.W.]

On average those who later dropped out did ok while in the program. But there was also selection bias. Dennis and Eckhardt did not just throw darts on the wall as far as I recall.

Concerning the Turtles:
I do agree with what you said about them. But would like to add that when in the program they did extremely well on average. which tells us if the plan is good enough, and there is enough structure in place to tame your risk -> most can make money.

no big deal, the only missing element for most traders is having Richard Dennis and William Eckhardt as your boss and bankroll lol IVE FOUND THE HOLY FUCKING GRAIL RIGHT HERE!!!