Is experience at a prop firm required to be a successful retail trader?

qlai said:
Agreed, but not very helpful. The book is a must read.
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If you really want support, start a journal, post a chart, invite people you respect to comment.

If there is no respect not much can change.

The primary reason to post an annotated chart is for someone who has more experience than you to see where they have to go to introduce the next concept.

If your’ve not willing to do the simple work of reading up on someone’s posting history and determining if it’s something that resonates with you, why would you think they would want to lift a finger to help the lazy and entitled?

This especially applies to the rude, the brash and the disrespectful.

Ymmv
 
My suggestion for anyone who wants to learn the ropes quicker to be a successful trader is coatail onto these guys and take up this bargain offer.
This is probably a thread on ET that not many people have paid attention to or looked at.
The reason I mention this, this ET sponsor claims to offer lifetime access to quite a good deal for less than $1k.
For a struggling trader this is an absolute bargain imo, you get to run automated algos.
The crux of it is, you get to know how different algos operate and you have professional backup.
Now I could be missing something as it seems too good to be true but if ET members climb aboard and offer feedback, the great ET threshing machine will soon bring to life if this is a scam, which I doubt.
Nothing is perfect, but for $1k this is a bargain opportunity for cheap education imo.
https://www.elitetrader.com/et/threads/algo-and-automated-systems-trading-webinar.324766/

 
ElectricSavant said:
I think Sprout's posts are rather eloquent and I find his posts thought-provoking. His method drives into you the essence of the message..

It's folks like Sprout, Hershey...etc..that make ET enjoyable.

ES
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Thanks, I'm certainly not at the level of Hershey and I appreciate the sentiment.
 
You want to improve as a trader you need to start quantifying your trading and markets . If you can measure it you can improve it and know that you are . Maths is the answer . If you dont know the problem how and where can you find a solution . Becoming a good trader is about small incremental improvements over a long period . Forget all the subjective generic shit that is >90% of whats out there . Method is all there is . There are patterns in markets that look like chaos to the naked eye , maths can and will make them clear , think way outside the box . RSI MACD ( add any common generic shit indicator ) is a total waste of time . Innovate because if you imitate most of whats out there all you are doing is perpetuating shit ..

A highly successful trader does nothing but follow patterns that exhibit an inefficiency in the market that presents an exploitable edge and rinses and repeats ad nauseum

Trading is nothing but defining probabilities whilst managing possibilities . If you dont get this go do something else ..
 
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PistolPete said:
You want to improve as a trader you need to start quantifying your trading and markets . If you can measure it you can improve it and know that you are . Maths is the answer . If you dont know the problem how and where can you find a solution . Becoming a good trader is about small incremental improvements over a long period . Forget all the subjective generic shit that is >90% of whats out there . Method is all there is . There are patterns in markets that look like chaos to the naked eye , maths can and will make them clear , think way outside the box . RSI MACD ( add any common generic shit indicator ) is a total waste of time . Innovate because if you imitate most of whats out there all you are doing is perpetuating shit ..

A highly successful trader does nothing but follow patterns that exhibit an inefficiency in the market that presents an exploitable edge and rinses and repeats ad nauseum

Trading is nothing but defining probabilities whilst managing possibilities . If you dont get this go do something else ..
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Agree with everything you mention other than "...any commom generic indicator as a waste of time..."
Yes, using generic indicators as an attempt to 'predict' price is a total waste of time - agreed.
However indicator are maths based, therefore you use them in your calculations, eg use indicator maths within your maths. Not gonna explain how, that's for the trader to work out, is not difficult.
For example one can calculate; trends, S/R, volatility, etc using indicators' maths in other ways from how they were originally intended.
 
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Everything i said is correct , generics are generally useless , 99% of those using em would be oblivious to the maths used . I use "indicators" but i write them all , know the maths and therefore know exactly what i am filtering/measuring . Try and use generics in a binary sense and you will fall short . Sure i can write an algo using generics but it will fall short of the thresholds i desire every time . A smooth fast curve is impossible over the long term

Indicators/filters need to be objective and binary to be of any use . Almost every generic fails on this level . I recommend anyone going down the systematic road read " Evidence Based Technical Analysis " and rethink common ideas

 
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themickey said:
My suggestion for anyone who wants to learn the ropes quicker to be a successful trader is coatail onto these guys and take up this bargain offer.
This is probably a thread on ET that not many people have paid attention to or looked at.
The reason I mention this, this ET sponsor claims to offer lifetime access to quite a good deal for less than $1k.
For a struggling trader this is an absolute bargain imo, you get to run automated algos.
The crux of it is, you get to know how different algos operate and you have professional backup.
Now I could be missing something as it seems too good to be true but if ET members climb aboard and offer feedback, the great ET threshing machine will soon bring to life if this is a scam, which I doubt.
Nothing is perfect, but for $1k this is a bargain opportunity for cheap education imo.
https://www.elitetrader.com/et/threads/algo-and-automated-systems-trading-webinar.324766/

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Hello @themickey thanks for the comments. Nope, no scam. We have been an Introducing Brokerage (futures/options) since 1997. We offer a proprietary options trading platform for index option spreads, wherein it will automatically generate spread trades and manage risk/profits for the client. Additionally, we offer a platform with over 1,000 automated algo driven systems available on multiple futures markets/contracts. Any system can be drilled into in terms of past performance (many have a history of live money returns, but some are hypothetical), they can be sorted and filtered by various metrics. The user can activate or deactivate any system at anytime (provided of course they have the necessary capital in their account). Once a system is active is it automated in terms of risk and profit management. If clients need assistance they can always speak to their broker. Cheers!
 
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