And without a comprehensive grasp of Trading 101, profitable trading will be about as easy as solving calculus problems without the ability to determine which of two numbers is greater.
Is day trading worth it?
- Thread starter Laissez Faire
- Start date
And without a comprehensive grasp of Trading 101, profitable trading will be about as easy as solving calculus problems without the ability to determine which of two numbers is greater.
Austin charges for trading education. Putting his name out there via the combine is business promotion.
Surf gets paid for blogging/articles/clicks. He doesn't even trade! Putting his name out there via the combine is business promotion.
I trade for a living. Putting my income on hold for 2 weeks to play in a public sim account is irrational.
If you actually read the Straight Line Approach threads you will see beautifully that the system works wonderfully, so it has been proven over and over again.
But what I am most curious about is who you really are? You registered yesterday yet have a detailed knowledge of all the posters here. Perhaps you were banned and came back under a different name, or perhaps you are posting with several different names.
I wonder if IP addresses are logged and can be matched to a different account. I'm sure this info is probably too private to share, but we have a case here of the "pot calling the kettle black". You claim that Db is a fraud because he hasn't shown proof, yet you are clearly someone else, hiding behind a different name, and hence perpetrating the real fraud. Its quite entertaining!
The only thing that proves it works wonderfully is Form 1099-B that comes at the end of the year from your broker(s). I am not asking you to show P&L by the way. Just making a point, and I think this is why so many want proof. The other part is as I said before just water cooler gossip you see everywhere in life.
For example, I read a story of a guy who ran a fraud small time hedge fund...........
http://www.cleveland.com/court-justice/index.ssf/2014/02/copley_investment_manager_char.html
I read some discussions of him from people close to him, and they say he had a lot of trading knowledge and many people respected him. So the question was: why would he do this? Why do these dishonest acts when you know you cant keep doing it forever? Eventually you will get found out.
The answer is because he thought he would eventually "get it". Eventually he'd start making all the money his hindsight analysis and theories told him he should be making. There fore it was ok to use client funds for personal use and "live the life", because he would soon make it all back and then make things right again behind the scenes.... and no one would be the wiser.
The moral is: don't assume anything works until it produces consistent positive P&L with real live money. Vendors can lie and deceive. Other traders you talk to can lie and deceive. Hindsight charts can lie and deceive. But P&L always tells the truth. The 1099 is never wrong. This guy Davian was lying to himself, and to others. He put the cart before the horse and paid the price and so did those who trusted him.
I think what guys are saying here is not to troll those who wish to learn trading and to improve their financial situations. Just saying: the trading biz is truly bizarro world so don't take anything for granted.
If you learn to read a chart from left to right, you can use any chart to prove to yourself that this system works. Its almost easy, and its right there, in plain sight. If you just follow the rules of drawing the supply lines and demand lines, entering on the retracements, and exiting on breaks, you don't need anything else.
As for fills, sure, this is hard to figure out, but you will notice if you study enough that he has said many times that he doubts certain trades would be filled. And lets not forget, the trade is entered in the retracement, where the activity has slowed down, not in the initial breakout phase that of course would have trouble getting filled.
You don't need targets because we aren't trading mathematics here, we are trading the behavior of other traders. You stay in a trade as long as the trend continues and you exist when it changes.
Making target calls, although he does very well with AMT, is tricky because you ultimately never know what will happen. If nobody wants to buy something that showed good promise, then clearly you shouldn't buy either, and price will tell you this, so even if you went long, you get out right away. A good trader can change his mind in a split second based on what he sees. Saying that price will absolutely reach a level is looking for absolutes that just don't exist in trading.
Pigsky, I mean this with utmost respect. I read a post of yours in another thread where you said you tried trading and then gave up after I think two years it was and ended up going back to school. School is never a bad decision, but its absolutely a logical statement that just because you couldn't make something work doesn't mean that it can't work.
I have read quite a bit on all this psychology of trading and in general. I used to want to be right all the time, and wanted to convince other people that I was right just so I could feel better about myself when they agreed with me. I am not saying that this is what you are trying to do, but I do see a similar idea given the few posts of yours that I have read. You have already convinced yourself that it can't be done, so any outside information to the contrary you just won't accept.
Everyone coming down hard on Db here wants to see the proof. But tell me, wouldn't it be better if you could prove it to yourself? Science in built on not believing what you hear, but describing the experiment so that anyone can repeat it themselves and compare their results. It wouldn't do you any good to see anyone's account as this would have no bearing on how much you could make in the market. All the proof of his system working is already contained within the threads. Whether it works for you is a different matter. Trading is almost more about yourself, and I see this more and more every day.
Soros was never a retail trader. Let me know when you break the Bank of England.
Must correct you there. Soros used to trade his own personal account in his thirties. Was wiped out at at least once...
I decline to further interact with you. Name calling is unnecessary and you are clearly not here to learn or share constructively but to harass and bully.