I feel like fundamental analysis is completely useless

Elaborate please..Worked on Wall Street/Hedge funds for many years..Are you saying I to 2 percent per month non levered is barely proficient?

savoir said:
The index is not a standard of any relevance to trading. I find it oddly amusing that this notion keeps getting repeated in various threads. (The Meditation thread is another example.)

The "pros" in the financial industry who manage large pools of capital for fees have an incentive to use the index as a performance standard for marketing purposes. They are in competition with each other. Amateurs trading their own capital are not.

The relevant performance standard for a trader is the proportion of the market's offer he is able to take. This is always less than 1. In terms of the standard used by the "pros" this is an ass-kicking percentage. But it is the proverbial apples and oranges comparison.

The 1% to 2% per month that is bandied about as a benchmark for trading success means either the trader is keeping most of his trading capital idle or he is barely proficient and is one poor month away from having a losing quarter or year. It is evident that most people in the internet age have never seen or been around real traders.
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themickey said:
I suppose if you were a big swinging dick and frequented Wall Street often you may be rubbing shoulders with real traders, but where I live, it's kangaroos.
Ever seen one of them where you live?
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I‘m at a local park at the moment and I see ducks and geese. No kangaroos. In New York I was a lawyer but didn’t work on Wall Street. I knew some backgammon hustlers who used to play bond traders outside the WTC for $1000 per point. That was the closest I got to rubbing shoulders with “BSD traders on Wall Street.” The traders I knew were all amateurs trading our own money from an office of a trading firm.
 
Tradex said:
Keep in mind that most of these Wall Street guys make their money milking commissions from their customers, not by predicting the direction of the market.
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I think those days are over though. Every broker is going to have "free trades" soon.

Tradex said:
Fascinating, let me write this down.
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My beautiful thread has turned into a troll again...
 
Tradex said:
Beg your pardon?
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