I don't know what the point of this topic is?
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Largest Private Traders
- Thread starter countercountertrend
- Start date
The slump is "they" not sticking it to the consumer as badly but still making money cause the bottom line is a bunch of lies. People think it really costs $40 a barrel to pump out oil out of ground? What big oil wants is to include the cost of finding it and reap those costs of failed attempts in first year of pumping it out which is real bullshit. Can you imagine ice cream shop thinking his machine be paid off in first year? Not even. Big Oil been making huge amount of money and costs to keep pumps working is cost to maintain pumps, fuel and replacement parts, if you ever get chance to check them out, some are decades old. Whether it is pumped to underground or above ground tanks for collection, someone else job to collect, test and off to refinery. There is always costs to maintain wells, that is same as ordering ice cream and their equipment but not $40 bucks a barrel. You think corn should be what it costs a bushel? Hell no, it makes for too expensive for energy and many companies getting away from using as sugar, traders often causes prices to go up just like the public things is correct as volatility goes up, so does profits for those who know how to trade, profits do down as price goes down and more contracts needed to get same profits as before, can't blame big business for price too high, they sitting with huge grins when we force pricing to go up.I don't understand why people speak about the slump in commodities. There is no slump at all, at least I don't see it. I make much more profit than years ago and average profit per trade is
much bigger. So no slump at all.
Maybe the explanation is that a few decades ago trading was quite amateurish. That explains why at that time much more people made money. You didn't have to be bright or smart, almost everybody made money. But the market got more professional over time. So traders need much more qualifications to make money. There is no slump, the market is making a selection between real traders and occasional winning traders.
You can compare it with the evolution in Formula 1. Schumacher was 7 times worldchampion between 1991 and 2006. He retired but came back in 2010. Surprisingly he was never able to compete with the others anymore. The competition was completely changed and he did not have the qualifications to be successful in this competition.
I can tell you for sure, no great man ever became great by doubting himself. These people become great by having a vision and having the courage to take persistent action and overcome all obstacles.
I really like this post.
My version:
"You become really great by having a vision of success, holding tenaciously to that vision even against the negativity of all doubters and critics, having the courage to take persistent action even without a guarantee of success, and having the faith to hold to your vision of success despite all obstacles and setbacks."
http://www.curatedalpha.com/2011/curated-interview-with-marty-schwartz-from-market-wizards/
Interviews with large private traders.
Interviews with large private traders.
The person in the interview above had a rule to keep cutting is trading capital each time he got to a set amount ($1,000,000) I think. (I think it was cut to $250,000). His father who went through the great depression, ground in the idea of protecting capital.
He could have amassed much more if he let it ride (than the $20M from $400K) as he consistently made 20% per month.
He could have amassed much more if he let it ride (than the $20M from $400K) as he consistently made 20% per month.
I think I understand the post about planning ahead mentally.
Though I know about doing visualizations of success I find it very hard to do.
I think the idea of looking for stories of those who succeeded is important. It can open your belief structure along the lines of:
"If he did it then it is possible for me too."
and
"What one man can do - all men can do."
As small traders facing discouragement - seeing those who have succeeded - opens the gate of belief in our minds. Once we believe and then know it is possible, then we will have an easier time with out visualizations of success (daily) practice.
Though I know about doing visualizations of success I find it very hard to do.
I think the idea of looking for stories of those who succeeded is important. It can open your belief structure along the lines of:
"If he did it then it is possible for me too."
and
"What one man can do - all men can do."
As small traders facing discouragement - seeing those who have succeeded - opens the gate of belief in our minds. Once we believe and then know it is possible, then we will have an easier time with out visualizations of success (daily) practice.
Being negative, finding prb, stating all the ways something can't work or succeed is easy.
Any fool can do that.
Being positive and supportive - looking hard to encourage your fellow man - that is the mark of character.
No one achieved greatest by being a negative, it-can't-be-done person.
Great people support others with vision of greatness. They inspire and encourage each of us to reach for our potential and continually seek out positive and encouraging things to say to support, inspire and uplift their fellow man.
Any fool can do that.
Being positive and supportive - looking hard to encourage your fellow man - that is the mark of character.
No one achieved greatest by being a negative, it-can't-be-done person.
Great people support others with vision of greatness. They inspire and encourage each of us to reach for our potential and continually seek out positive and encouraging things to say to support, inspire and uplift their fellow man.
http://www.curatedalpha.com/2011/curated-interview-with-marty-schwartz-from-market-wizards/
Interviews with large private traders.
There is so much gold in that interview
"Why do traders lose money ?
Because they would rather lose money than admit they’re wrong. What is the ultimate rationalization of a trader in a losing position? “I’ll get out when I’m even.” Why is getting out even so important? Because it protects the ego. I became a winning trader when I was able to say, “To hell with my ego, making money is more important.”
The largest private traders are the ones that you will never hear about.
This is true. I know a guy that pretty much owns a whole county. He bought every property when it came up for sale. Its part of his security program. Almost no one knows how wealthy he is. They know he is wealthy, but not how wealthy. The only problem he has is he was a little careless early on and a few people found out how good he was at his business. They were calling him constantly trying to get at his money, until I pointed out it was stalking, which is a felony. He made those guys pay through the nose.