Quote from NoMoreOptions:
Don't you think there are more brokers, specialists, sales people hanging around than the real traders. I mean this is very true during week days 8-5. Of course, some of these people are available 24/7 but much fewer than the regular working hours. Imagine the names on ET. You know it. And you know what they want.
NoMoreOptions, I recently read a quote in a major newspaper by a renowned economist that was word for word the one I wrote! It was a copy/paste job.
See, the guys you mention, plus analysts and economists don't "trade for a living" they just write about it - as you can see by the recent 800 point move on the EUR/USD all the analysts and economists were predicting that EU would cut its interest rate - but, I, being a trader, knew there was no way in hell the rate would be cut.
The economists and analysts and bank/desk traders moved the markets with their BS, but when the announcement came out, sure enough the european central bank did NOT cut the rate - exactly as my indicators signaled.
Suddenly you started reading all those guys remulching their stories! They are all full of such BULLSHIT it is pathetic. The college-educated MBA and PhD worthless bastards. They have no idea what end is up because they do not live or die from each trade based on their decisions.
I am a high school drop-out and worked my ass off all my life, pushing pennies around to survive - that is my education. So far I am doing well adapting to trading for a living.
They hang out here because they know there are real traders like us who post here. Ha!
Good observation!
Sam