Is anyone getting rich out there?

[nononsense]

Quote from risktaker:

What?
Do I understand you correctly? Tie up $1M to earn a measly $50K/year?!

Might as well "invest" the money somewhere and proceed with a career, something more rewarding.

Better tie up a measly $50K to earn $1M/year! That's what nononsense would call 'anyone getting rich out there'.

 

[Equalizer]

Quote from ftrade:

...pic of {house} 012.jpg...

Oh no, say it isn't so!
What is that "Master Day Trader" book by Velez and Capra doing on your bookshelf?! :eek:

http://www.elitetrader.com/bo/index.cfm?action=view&B_ID=4&CatID=1

 

[birdman]

Quote from joeyata1:

jsut liek any other occupation maybe 2 or 3 out of 100 make any real money. sure the % on this board much higher as amny ont his board are the survivors of the last 5-10 years. truth is if someone has a jam up system to make money i highly doubt he;d be listing on here as he wants to be paid for his knowledge just like any other profession

I'm glad to see comment about the washout rate being just as high in many (or maybe even most) other professions ... i'd have to say it's true ... and almost always overlooked when telling newbies how hard it is to be a success in this game

 

[FredBloggs]

Quote from BlackMonday:

-$50K & counting.

I know I am not getting rich. But, I know somebody else out there is...

yea - my broker

 

[FredBloggs]

Quote from ftrade:

So, just as my first thread that started this topic pointed out, again it seems like all of you guys are losers and here is why:

1. You all sit around on your computer and insult me and others for no reason other than it makes you feel better about losing money every day

2. About 1/2 of you can't afford LCD monitors, let alone a bankroll. This is why you go to prop firms, because they will stake you and perhaps make you feel like you have legitimized your career...they give you biz cards and a place to go every day

3. Most of these day-tradng firms are now out of business, meaning you all went broke.

4. If I had made a lot of money trading, I would not waste my time on these stupid boards, I would be on my boat banging bitches

5. check out this guy's loser set up. He trades in a closet and can't even afford a desk. See the attachment below....hoe can I listent to guys like this when clearly they are not making any money, Yeah they don't have a boss, but they live in a closet by themselves.....its like "Shawshanke Redemptio" in there....pathetic

6. You all state the obvious, which means you must all be wrong. Read books, it takes 5 years to start making money, you will go broke a few times, blah, blah blah. Someone tell me something I don't know

wow!

how did you know.

actually, you got it wrong.

i trade at a prop shop cos its somewhere warm to sit in the winter months, and there is free coffee unlike the community library where i used to go. they let me play this video game as well - havent got the hang yet but i think its todo with numbers.

good luck 'bangin bitches'. you come across as a very intelligent, suave sophisticated individual with loads of charm, so i am sure you will have lots of success on the boat with your 'bitches' too. you deserve each other.

hope you dont get done for cruelty to animals.

 

[Equalizer]

Quote from ftrade:

This...


millions? I see all of you guys writing on these boards and see pictures of peoples tradestations and it seems like everyone on this thing is a bunch of losers. Guys who can't even afford LCD monitors,


and this...


2. About 1/2 of you can't afford LCD monitors, let alone a bankroll. This is why you go to prop firms, because they will stake you and perhaps make you feel like you have legitimized your career...they give you biz cards and a place to go every day

Is it just me, or does ftrade appear to have a fetish with LCDs

 

[murty]

Can I write a small book with all the posts in it and sell it for $2, its guaranteed money And a reason to use my inkject printer. Can you guys please continue the conversation and make this thread 50 pages

 

[Grob109]

Quote from Lefty62151:

Risktaker:
I agree with you. What you say confirms what I believe has been true for a while now. Retail traders are very unlikely to make it. Rather than go into the reasons why (again) let me just say that this is why I suggest new traders go slow and get proper training. Even those of us with a lot of experience and a track record have difficulties making a consistent living. How can a new trader hope to make that leap without taking the time to get their skills together.

Just for laughs, ftrade is a young guy, maybe he like sports. Perhaps he likes to watch pro basketball or baseball. My suggestion, just to get a feel for what it is like, is that he takes the effort to find a pro (lets say an NBA player for example), and go up to the guy and say "hey, I am really interested in becoming a pro like you.... I think I can learn to play on your level right away.... how about teaching me or showing me what it is like to play in the NBA?" I would pay to see that one-on-one game. Or better yet, he should go find Randy Johnson and ask him to pitch a little "batting practice". Do any of you really thing the guy would be able to get a bat on the ball? We all know what the outcome would be don't we, yet here in this arena, people get all pissed off because we suggest that he take time to learn how to play this "game".

You know it is always possible that Fftrade could be the trader's version of Kobe Bryant, but it is not likely. Also if you look into this phenomena closely, you see that these young guys who make it right away are often the sons of famous athletes. Kobe's dad played in the NBA, Junior Griffey's dad played for Cincinnati. Barry Bond's dad played for the Giants, etc. They were all raised in an environment that made it possible for them to succeed. On top of that they were born with exceptional talent. We don't have a clue as to who this guy really is? Was his father a famous trader. I doubt it. Lets get real here.

People have given plenty of advice, good, bad and in between. Now it is a matter for the "gods" to decide.

See you,
Lefty

Terrific recitation. It fits into topic 6 for ftrader.

You point out how the minds of important sports player contributors work. You make the point of how, in a person's carreer he goes through the process of getting to "sports memory" which, for traders, is where the best of he best operate.

ftrader has been brought up along a path that gave the results he tells us about. He has shown us that his audio and visual sensory input cannot be processed by two of the three mental centers that are useful for the transition to the third arena: "sports memory". He processes mostly in the most remote part of his brain from the "sports memory" part. Why? Because he is not using even his short term memory to assimilate the dialogue here. he is still slamming ET generically, whycan't he move to a place where he can change his tune, if for no other reason, to a differing vantage point?

He is mentally stuck, developmentally speaking. He has built an internal mental computer that is now immobilized. The visual imagery he uses cannot be changed it appears. Try rippling through the pictures of the wide range of computer set ups that have been posted on ET. Few of them are what he describes.

To go from the normal knowledge and skills acquisition parts of the brain to operate with short term memory, cogently is not the most demanding but it can be for people who are getting to the point of being wasted. To go from short term memory facility to "sports memory" is a challenge for anyone; just look at who doesn't do it regarding the market. Those who do often give the bottom line illusion of "tape reading" to stae their facility of handling salient market info flow.

Randy throwing with "heat" does not phase Bonds. At 100mph, the 90 feet is not the issue; the issue is strategies of two people whose ways are mutually understood. The Shilling/Bonds match is more comprehensive since Shilling does baseball TA. Shilling plays more BB than almost anyone since he uses technology to prepare. He mkes up for lost time heritagewise.

If you watch a player who uses both auditory and visual snesory input as the Chicago great did in basketball, you get to see the supreme result of practise that is "uncoachable" because of the way the player's brain has been built into a matchless entity.

ftrader is busted mentally because he has trapped his brain and subsequently his mind in a place from which he cannot retrace his steps. Why did he go the way he did to get to where he is? as a have not, he felt he "needed" to conquer his deficits. Well he paid a high price. Do you think he can handle black diamonds after a night on the town? I don't think he has even replaced his skiis lately.

 

[mschey]

Quote from risktaker:

What?
Do I understand you correctly? Tie up $1M to earn a measly $50K/year?!

Might as well "invest" the money somewhere and proceed with a career, something more rewarding.

My point is this, even if you can't trade, and earn a mediocre return, you can still make more than the average annual salary of most people by trading for a few hour a day.

As a prop trader, you certainy don't have to tie up 1mm of your own capital. How about using 25 or 50 k of your own capital, now that return starts to look pretty good.

What is more rewarding than calling your own shots, being your own boss, and a self made man? Nothing IMO!

Good trading to you!

Mike

 

[Dustin]

Quote from risktaker:

ftrade is absolutely correct! The stock trading gig is fast becoming obsolete as there is NO more money in it.

You guys are wrong. It all depends on the trader. I'm on track for my best year since 2000 trading NYSE only. Not to mention the upcoming changes in the uptick rule and expansion of NX which I think will only add to my bottom line.