Is day trading worth it?

[BONECRUSHER]

How does one posting their P&L benefit other want to be traders?
Isn't NFL, MLB, NBA, Premier League full of coaches who never played
in the big leagues....

The benefit is TRUST. When you go into a classroom you expect the professor/teacher
to prove degrees/credentials. Coaches who never played the game have a history of coaching success at previous levels. It benefits newbies because they can "filter" information from the credible and not waste their time on the rest.

 

[Scaleout.Scalper]

It benefits because it's a business overloaded with con-artists and scammers, credibility helps filter those posing as experts.

That's why people request them.

When you refuse to post your P/L or blotter for whatever reason it makes your claims of profitability, suspicious, because it really is an effortless action.

Look how empty the P/L journal is.

 

[wrbtrader]

...Here's a P/L post...

I thought I was done with this thread but had to chime in one more time.

Lets see, you have been bashed, attacked, called names and then PnL requested (demanded) for credibility purposes just because you have shared your trade approach, given trading advice, offer help to other traders...you've been attacked by those that have done the same via giving their own trade advice, sharing tips, talking a little about their trade approach, talking about the past trade problems in other threads but to a much lesser sharing than you in comparison.

NoDoji, why do you give a damn what these people want from you ? You've been here long enough to know that no matter what you show as proof...they don't give a damn. Do you really think your posted PnL will change their opinions about you. Seriously, I've been here long enough to see some in this thread attacking you just about "every other month" and they will continue doing such whenever they feel like it. A few of them will continue demanding PnL statements for credibility purposes along with a new crop of ET members that joins ET in the future. They don't care that you have detailed your trade approach, they don't care that you did a live trade journal here at ET for a few months, they don't care that you've done live calls in real-time here at ET, they don't care about your posted PnL statements in the past and they obviously don't care about your most recent posted PnL statement in this thread.

*** Do you think I'm wrong ? Here's a fact, you have now posted your PnL for all to see and yet there has been messages by 8 different ET members after you've posted your PnL statement and not one of those folks have acknowledge your posted PnL. Let me repeat, not one of them have acknowledge your posted PnL and some of them are still talking about your credibility while not posting their own PnL. ***

If I was you, I'll put them all on ignore, leave this thread and don't cater (never again) any more to another PnL request in the future because this place is just comical. As one of them in particular stated in another thread after you replied with helpful advice to someone that requested help last year...gurus like you are just scum and have no credibility because you can't walk the talk.

Why you reply to this crap is beyond my imagination. Seriously, at least be more choosy whom you talk to/reply too and you should never try to defend yourself to a bunch of anonymous user names any more because of all the people here at ET...you're the one that has proven in the past via PnL statements, live calls, trade journal or whatever while rarely do any of your attackers do the same. :eek:

P.S. Your PnL looks like a fake (sarcasm).

CIAO

 

[ammo]

baron, your decision to permit ET to become the jerry springer show of blogs will soon leave you with no useful trading info and no blog

 

[Pigsky]

I think what irritates people is they get impression that nodoji is making things appear easier than they are. The perfect hindsight charts where everything falls into place and so on.

It reminds me of Marketsurfer...... some people disliked him because they felt he was name-dropping, talked about himself too much, was egotistical, and so on....

It is similar with Nodoji. She does talk about herself a lot, and of her trading plan, all the uber-successful traders she knows, all her mentoring stories, forging a trading plan, 10,000 hours of screentime, retelling the same stories over and over again. And it is all over the site, not just one thread. And people get tired of it and end up thinking she is arrogant or patting herself on the back too much.

For example, I showed links the other day where she talked of no-brainer and dumbass trading methods that were consistently profitable, and comments about the market being an ATM machine on a given day (after the fact of course).

Now look at this from the 'search' function.........

Real edges are a dime a dozen

Edges are all over the place

dbphoenix is giving away edges all over ET.

There are edges all over the screen in every imaginable trading time frame

Edges in the market are a dime a dozen

REAL exploitable edges are VERY VERY common.

Assuming you have a defined and thoroughly tested trading plan and the ability to follow it, it's possible with the leveraged instruments available to trade for a living with a $10,000 account.

These are all real quotations of her. To be fair, she also has quotes that trading is difficult. But it is the quotes like those above that irk people, give the impression that trading is easy, and some would say makes a mockery of how hard it really is.

I have no idea what her motives are. But whatever they are it does appear she is trying to create a guru-like image online. That is just my impression and it seems many others get the same impression.

IMO, these are the reasons why people consistently give her a hard time. Not because she is being singled out instead of other "high profile" traders. If those other traders went around the site retelling the same stories over and over of how he devised his trading plan, calling the market an ATM machine, patting himself on the back, and so on....... then likely people would gang up on them too.

There are third party verification sites where you can upload your trading history from your broker and have it posted and verified online. So if she doesn't have time to do a combine but still wants to impress upon people her trading prowess then why not use one of those? If her claims are true then this would give everyone all the proof they need , and her the reputation she seems to be seeking, and would negate any photoshop accusations.

 

[tiddlywinks]

...
There are third party verification sites where you can upload your trading history from your broker and have it posted and verified online. So if she doesn't have time to do a combine but still wants to impress upon people her trading prowess then why not use one of those? If her claims are true then this would give everyone all the proof they need , and her the reputation she seems to be seeking, and would negate any photoshop accusations.

Com-bine, Com-bine, woot woot woot!

 

[FreakofNature]

baron, your decision to permit ET to become the jerry springer show of blogs will soon leave you with no useful trading info and no blog

In most public forums people post their high scores, or the type of computer they built, or the car they bought and modded, or their bodies, etc.

You would think in ET people would post their P/L yet it's the thing that is posted the least, judging by the journal itself, I don't think it's secrecy, I think its ineptitude.

The 99% haunted by their losses, and the 1% that does not give a shit about the 99%.

 

[Surprise]

First of all there is no such thing as an edge for retail traders .
Now nodoji and db and the like are merely bloggers , not traders , i wouldn't call them traders anyway , and a 1 month P&L wont prove anything , 30% plus of fx retail traders are profitable in any Q , being profitable for a month or 2 or 10 proves nothing , the keyword is consistency .

 

[butterfacetrader]

First of all there is no such thing as an edge for retail traders .
Now nodoji and db and the like are merely bloggers , not traders , i wouldn't call them traders anyway , and a 1 month P&L wont prove anything , 30% plus of fx retail traders are profitable in any Q , being profitable for a month or 2 or 10 proves nothing , the keyword is consistency .

Yeah. Most of these guys are bloggers you're right. And snarky too. Thats all they have. If someone says they've lost money or they can't win 100% of the time, then they'd come in with a snarky remark like "this shows you don't have a system and a plan". As if they do. All they do is talk and sell BS. Reminds me of a certain penny stock trader selling 'lessons' and recruiting 'students', but at least that guy trades and has apparently made money in the past and present. But basically their gig and primary method of survival is earning a salary selling snakes oil, not really in trading.

 

[newwurldmn]

Yeah. Most of these guys are bloggers you're right. And snarky too. Thats all they have. If someone says they've lost money or they can't win 100% of the time, then they'd come in with a snarky remark like "this shows you don't have a system and a plan". As if they do. All they do is talk and sell BS.

My experience is investment bankers and interior designers have the same attitudes of superiority. The goal is to make you feel like you can't do it yourself and you need their help and that they are being generous in providing it. It's a tactic to sell a service that doesn't really exist.