"You're so vain... I bet you thought this song was about you..."
Haha... its the only one I know... is it even by her???
Is day trading worth it?
- Thread starter Laissez Faire
- Start date
"You're so vain... I bet you thought this song was about you..."
Haha... its the only one I know... is it even by her???
I know you're smart enough to know that you need to be careful about second-hand stuff.
I noticed to me you replied with a bunch of threads where you outlined how you trade. I clicked on them... went all over my head, so I can't form an opinion.
Green sounds like a decent guy, and would you not agree that you shouldn't believe anything you can't prove to yourself? You keep looking for proof from Db, so I'm sure you subscribe to this practice as well. All Green is saying is that he is proving it to himself and Db is showing him the way. He tried the system out for 8 days and had good results.
Forget what the system is for a moment, if you've had positive results for 8 days is this not something that you would keep working some more?
Eight days is noise. You can have a horrific R/R and still produce a nice gain. I've gone 30-40 trades hitting singles ($1 gain on a $10 debit for weeks and weeks). It doesn't make that specific method viable. Many methods are built on martingales; or achieving a high hit-rate while risking say, 10:1. The expectancy doesn't change.
Didn't GG just mention "lashing out"?
I am not looking for proof from DBP as I know non exists. Russell's teapot comes to mind. Wouldn't it be easier to back it up as opposed to going into 30k word-detail why he won't?
I don't think I see him lash out anywhere.. but this is all moving too quick.
You were looking for proof from him though.. you wanted to see his blotter, you wanted to log into his account.. you wanted him to make a call.
I'm afraid I don't know the significance of Russell's teapot.
Somebody saying they trade 100 contracts and make 30 points everyday, even if proven, does absolutely nothing for me. Now if that person pointed me in the right direction so I could trade just 10 contracts and make 10 points I would be grateful.
Isn't there some great saying about give a man a fish, feed him for a day, teach him to fish and you feed him for life.
This is just an application of that. Something you prove to yourself you believe in so much more than something that someone else has proven. And when you are gonna buy 10 contracts don't you really want to be able to know that you have tested something yourself and know it will work in the long run? Db emphasizes to try things for yourself, its the only way to have confidence to put that trade on because it is after all your own money. This message works for any trading method, no matter if its yours or his or NoDoji's.
Nobody in their right mind would allow access to their account to someone off the internet, and certainly not someone who is kinda rude like you.. I'm sure that you would understand!
Honestly, I'd love to know how much Db makes as well. I'd love to see where he buys and sells and how many contracts he trades. But it would do nothing for me except maybe depress me. Plus he might be trading different timeframes. He has the confidence to go short and ride the market down 100 points with multiple pullbacks, whereas when I finally start, I'm getting out at the first hesitation, happy to get my $100 on one contract.
Think of a disabled person, so happy to be able to dress themselves in the morning after months of rehab. This is a major victory for that person, a milestone in their life and on their road to independence, how ever much they can hope for. Neither you or I stop for a moment to appreciate this. Comparing gets quite tricky. You only have yourself to answer to and only your own dreams to fulfill. There are people out there who would kill to have the jobs that you and I don't ever want to work again for what we call measly wages. Being humble should never escape you.
Thanks for not swearing at me in the past few posts!
Humble? That's my background. If you think I am FOS then I'll happily confirm it privately. I have a lot of experience in financial markets and never stop learning.
He could've logged in and told me to F off. He can't do any damage to the account over the weekend. A dozen guys here know me personally. And I don't care how much he earns. I take issue with credit taken for trades where none existed... the NQ trades from two weeks ago, to be specific. Those mentioned "in advance" when no advanced notice was made.
I am parent to a disabled child. Nobody needs to preach to me.
I think it abhorrent when ppl on the periphery of the profession take credit in hindsight, or refer to mkts or methodology as an "atm machine", "rarely have a losing day", etc.
Wrong again.
That comment is lost to history so lets move on.
Do you know what's even better than making one call in advance? Its understanding how a person trades so that you can figure out what their next 10 trades will be.
If I know you're into bodybuilding chicks that are blond, I could make money betting on what kinds of girls you'd be picking up in a club. I wouldn't have to be asked each time if I think this girl you would hit on or not.
This is why he pushes his charts so much, the information is in there when you know what to look for. Its sometimes better to know how a person thinks then to know what they are thinking at that moment. That one moment in time doesn't tell you much, but understand their thinking pattern is way more information.
Here is the other thing about calls. Now once again I'm not referring to whatever he said two weeks ago, but if the market is about to open and I say go long, within 30 seconds I can just as easily change my mind when I see that traders just don't have it in them to buy. Everyone will be mad at his call, but he will be in the money because he is so fluid with whichever way its going.
Mark Douglas says something like the best traders can change their minds without any regard for ego or... man.. I don't remember this quote too well. But the best traders aren't stuck in their opinion, they are constantly updating it based on new information. Would you be married to a trade that clearly stops working?
"Change their minds... ego" is complete BS. We'd all be trading nickel ranges if that were true. Dime-store trading philo. Ego allows us to pull the trigger. >80% of mkt participation is professional. GOOG traded in 5% range on a stock split. So efficient. No greed, fear or ego involved in that ticker today.
Neither of us have any idea if Mark Douglas makes a dime from trading.
I think you're trying to keep me active for kicks, but to humor you a bit more. No, I am exceedingly (to a fault) risk-averse. If anything, I dump too quickly.