How to identify 2% club of succesful traders in ET?

newwurldmn · Jun 5, 2023

rajesheck said:
People who are not yet ready to perceive trading as a business continue to pursue trading as a technical skill. They look for more knowledge, techniques, secrets, etc

Such people won't find any from my threads, because I am sharing mainly broad aspects of trading.

(From the perspective of "broad mind and big picture", eagle/crow example is classical)

Broad sophomoric generalizations.

and we are at the “treat your trading like a business” outside the box thinking because no one has ever mentioned that before.

hilmy83 · Jun 5, 2023

newwurldmn said:
It's all outside the box thinking. Something you wouldn't understand with your 100% winrate and daily sharpe of like infinity.

I try not to think, period

rajesheck · Jun 5, 2023

newwurldmn said:
this is not outside the box thinking. This is the majority of the people here hold these views and would not be considered in the 2%.

What will the day trader think of after continuous loss? Swing trading, right?

A general knowledge among traders is not outside box thinking.

Thinking originally is an art.

rajesheck · Jun 5, 2023

newwurldmn said:
Broad sophomoric generalizations.

and we are at the “treat your trading like a business” outside the box thinking because no one has ever mentioned that before.

Again a general knowledge among traders doesn't make them original thinkers.

rajesheck · Jun 5, 2023

newwurldmn said:
Broad sophomoric generalizations.

and we are at the “treat your trading like a business” outside the box thinking because no one has ever mentioned that before.

Have you ever heard the term "trading psychology"? Atleast have you heard of the term "psychology"?

The fundamental of the subject psychology is the two divisions of mind called as "conscious" and "subconscious" minds. Neuroscience estimates around 95% of our mind is subconscious.

All the general knowledge are sticking on to conscious mind. Original thinking comes from subconscious mind .

Bro you are a simple fella, not a creative person. Stop your bullying attitude now. Otherwise i have to humiliate you before the world. Please don't push me to do it.

newwurldmn · Jun 5, 2023

rajesheck said:
What will the day trader think of after continuous loss? Swing trading, right?

A general knowledge among traders is not outside box thinking.

Thinking originally is an art.

I've been trading for 20 something years.
You haven't said anything original yet; except you keep talking about thinking outside the box.

rajesheck · Jun 5, 2023

newwurldmn said:
I've been trading for 20 something years.
You haven't said anything original yet; except you keep talking about thinking outside the box.

You have been stupid all the life. That is your problem not mine. Now stop your bullying attitude

Please don't push me to humiliate you..

newwurldmn · Jun 5, 2023

rajesheck said:
Have you ever heard the term "trading psychology"? Atleast have you heard of the term "psychology"?

The fundamental of the subject psychology is the two divisions of mind called as "conscious" and "subconscious" minds. Neuroscience estimates around 95% of our mind is subconscious.

All the general knowledge are sticking on to conscious mind. Original thinking comes from subconscious mind .

Bro you are a simple fella, not a creative person. Stop your arguments with me now.

I've been trading for 22 years.

I started as a quant developing stat arb strategies.
I then ran the first iteration of our bank's electronic market making desk.
I then traded prop.
I then built an event driven vol desk.
I then left to do something entreprenurial. I started an RIA and looked to purchase an operating business.
I now run an account that is probably one of the 5 largest on Elite trader.

I'm almost positive that my pnl today is larger than your net worth.

newwurldmn · Jun 5, 2023

rajesheck said:
You have been stupid all the life. That is your problem not mine. Now stop your bullying attitude

Please don't push me to humiliate you..

Say something intelligent. Please. Anything.

Just not platitudes.

murray t turtle · Jun 5, 2023

rajesheck said:
I always try to see the big picture and then get down to work on the details. For example this the is big picture i see about trading.
1. Statistical analysis
2. Trading psychology
3. Business mindset
4. Creative problem solving
5. Innovative thinking

This is the details i am working on...
https://www.elitetrader.com/et/thre...isky-should-stop-loss-be-more-liberal.374734/

It is my ten years of experience and wisdom in stock trading. And I am not supposed to expect all traders to understand or accept what I am sharing because each trader is unique with unique levels of experience, skills and passion.

My philosophy is "A good teacher is a good student" I intend to learn more by sharing more what I know.
That's why I created a thread for open discussion with open ended questions.

%%
Good points;
but most likely 20% are profitable.
Even Dave ramsey who never promoted daytrading, notes it 20%.[Stock funds millionaire, real estate millionaire, radio network millionaire. WSJ list of top persistent book sellers]
Easy to get those numbers[2+20] confused\ hedge funds do it all the timeLOL

And if you included traders that had a farm;
had another business;
had a cash metals business
had a good paid for library;
most like 80% profitable or more.
Thanks, business mind set= better than a jet..........................................................