I think I figured out why trading can never work for so many people

[WoodyK]

Oil went to exactly $9.95 if memory serves and snapped back to $14. My wife thought I was a friggin genius. But just dumb luck I assure you. The whole time on a weekly chart it just kept dropping and she nagged me every week to get out. I didn't care because it was not my money at risk (insurance settlement).

Woody

 

[Fractals 'R Us]

Quote from WoodyK:

Oil went to exactly $9.95 if memory serves and snapped back to $14. My wife thought I was a friggin genius. But just dumb luck I assure you. The whole time on a weekly chart it just kept dropping and she nagged me every week to get out. I didn't care because it was not my money at risk (insurance settlement).

Woody

I had that experience when Litton Industries had a dispute with the Navy about something.. their stock got hammered. One day I read a newspaper article about how Litton had enough cash to pay off all their debt and expand the business by 30%.. I bought it from single digits up to $20 or so then used the proceeds to fund a business that never made it.. Successes like that can make one think they are above average when it was mostly luck.

 

[trader198]

the last drop is the easiest to make. the last thrust rally too.
it is amazing I am doing all the time. since those wrong earliers always get out in those levels.

those two weeks the index dropped hard, I shorted ES at 1489, thought get killed, late found easily cover it at 1483.

I remebered several years ago, I traded crude. shorted 10 contracts, just 10cents near the intr-day bottom, and cover it at the exact bottom. always there is someone wrong and pee in the pants.


but nowdays, trends last shorter and shorter. information travels faster.

Quote from WoodyK:

Oil went to exactly $9.95 if memory serves and snapped back to $14. My wife thought I was a friggin genius. But just dumb luck I assure you. The whole time on a weekly chart it just kept dropping and she nagged me every week to get out. I didn't care because it was not my money at risk (insurance settlement).

Woody

 

[atticus]

Quote from WoodyK:



Long story short, my son who is a computer genius developed a trading system to trade the big S&P. My friend put up $50K to test it. We called orders directly to the floor. Believe it or not it worked phenomenally and has continued to this day basically unaltered. We eventually switched to the Emini.

Lastly, after talking to Tom Baldwin last month we recently decided to trade short term the 30 year T Bond. My son temporarily moved east to be up in time to take advantage of the early morning trades. He had NO trouble making 32 ticks/day so we decided to go big or go home.

That's why I inquired about buying an IMM seat. We calculated we could save $6M in commissions. Very disappointed to get zero replies out of 15K here. We were also looking into a foreign company but found a much better way and going with it.



Woody

Perhaps because we're busy attempting to locate a facility that will offer a long-term psychiatric committal for you.

 

[atticus]

Quote from WoodyK:

Years later I learned, from one of his friends, he intended to write a friggin' book and include what I would have revealed to him to the world.

How awful!

So he told your mutual fried he was going to rip off your IP?

 

[HurricaneUS]

Quote from atticus:

How awful!

So he told your mutual fried he was going to rip off your IP?

WoodyK (who registered in feb 2013...wink wink....) is a master storyteller...his fictional stories have such depth and polish...I would put him in the same class as john grisham

 

[Pekelo]

Quote from WoodyK:

What you don't realize before I ever traded commodities -I was already very wealthy.IAnd YES, I will promise to send pictures (@ end of the year or perhaps sooner). The name of the ship will be Serenity.

Let me help you:

I really liked your story. You were a master trader while just a teenager, but when you met a broker and befriended him you moved to the RE market, because that makes sense.
Also, did you miss out on the roaring 90s trading wise? And now when you are 70, instead of scaling back, you want to monitor the market 12 hours a day?

But the real lesson of your story is:

Quote from WoodyK:

What you don't realize before I ever traded commodities -I was already very wealthy.

 

[atticus]

Does this wind-up toy remind anyone of tango 6 alpha? Replace ES with EURUSD and you have a winner. Also talks about La Jolla.

 

[emg]

Quote from ChkitOut:

Simply put, they grow to hate it.



Well, this is the trading world. And quite frankly, it sucks.

More than 90% of small traders lose! They just lose!



http://www.bloomberg.com/news/2012-...-seen-profiting-at-small-firm-expense-1-.html

 

[emg]

Quote from ChkitOut:

Simply put, they grow to hate it.

After a while, a trader will sit at his computer and say, this stuff is so beyond stupid. They will never be able to tolerate dealing with a probabilistic work environment every single day enough to get over the big hump and into profitability.

And to take it a step further and probably more important, they cant work in a world of subjectivity. You can have 10 different traders giving you 10 different reasons why a trade may or may not be ok. And maybe all 10 of those traders are profitable but the lack of clarity and subjectivity are enough to drive a learning trader nuts.

Imagine working at a pizza shop and everybody in the room is giving different instructions on how you need to cook the pizza in order for it to come out good. You would take off your apron, throw it on the floor and storm out yelling, 'you people are a bunch of wackjobs!"

Well, this is the trading world. And quite frankly, it sucks.

here is the ultimate reason why small traders lose and will continue to lose by reloading their account or multiple accounts

http://articles.latimes.com/2011/apr/03/business/la-fi-amateur-currency-trading-20110403




small traders are being misrepresent by vendors and many licensed money managers on how easy way to make money. And why these vendors and money managers are misrepresenting the public? they need to make money, pay their bills, and able to afford luxury living style.


And why vendors or shall i call them vampires targeting small traders? it is easy to ring a sale on small traders because small traders look at trading as gambling. When a small trader look at trading as gambling, vendors can easy advertise such as this

And why small traders are gamblers? because they are poor. they have very little money to trade in a highly leverage volatility markets. They have to gamble. Because they have to gamble, they become desperate. they are desperate looking for successful traders. they will do anything to have a successful trader teach them. this open the door for vampires (VENDORS) to hunt them.


Small Traders are desperate. EASY Target for vampires.



according to the article above


of the total 615K forex accounts, 605K accounts lose on an annual basis.






Higher Education is the key to become a successful traders. We are entering the new era of trading. it is called


Advanced MATH. Its the advanced technology bringing down the old school trading. Flushed the old school. bring in the bright new school