Playmate of the year is a successfull daytrader, see how easy it is?

[Max E.]

I think you all got it wrong, it's an ad, she's pumping the trading or trading related companies at the beginning. What's the kick? If a dumb blond can do it, anyone can. Judging from the overall losing atmosphere in ET, it's pretty obvious, daytrading is not as easy as she makes it out to be for the majority of traders.

That was my take as well, she listed some "global" whatever sheister brokerage and i think that was the whole point. She mentioned buying fitbit which was actually a loser that day, only a winner market on open then dump two minutes later, like i did.

Plus she said she takes 15-20 positions a day, ive never met a trader who could beat randomness on that many positions, except for maybe the odd day when the market is going nuts. Once in a while in my systems trading i hit that many positions, but thats cause its purely mechanical, purely robotic, and the market is crazy, somehow i highly doubt shes got an automated system.

I actually subscribe to a chatroom for penny stocks, only because i want to see what the monkeys are all on, so i can fade them when they drive stocks like VLTC to ridiculous levels, its hilarious, these guys are like "Thx so much i made 10k today" and they have no idea what they are doing, and they all inevitably disappear after a few weeks, they can win for a couple dozen trades, through sheer "luck" but they never last cause eventually the streak runs out when your just clicking the "Buy" button with massive size, and rolling the dice.

These guys will buy 100k shares of a stock that went up from a half a penny to 10 cents, not even think twice, look at charts like WSTI, THCZ, RIVT, etc..... RIVT was the funniest, these donkeys bought it up to 60 cents cause tesla was buying out a company with the same name, and these idiots bought a shell company that was worthless, up from a half a penny to 60 cents before they realised it was the wrong company, and the SEC finally halted it at .20. Still waiting for it to open so i can collect my free 8k from my 20k short shares at .40 cents.

Those are the idiots who will be complaining about their "Luck" when buying this garbage inevitably leads them into insolvency.

 

[loyek590]

Thats the thing though, good traders dont allow themselves too be taken out by "badluck."

Obviously "badluck" exists in the market to some extent. Anyone whose been in the market long enough has been the victim of "badluck." But the people who know what they are doing dont allow "badluck" to take them out.

If you got wiped out by enron, or bre-x, or the flash crash, that wasnt bad luck, that was "bad trading." No single loss no matter how bad should be able to wipe you out, so while its "bad luck" that it happened, its also "bad trading" that you allowed it to wipe you out. Ive taken more than my fair share of horrendous hits over the years, but ive never allowed them to take me out, im still here, thats the difference between me, and the cry babies who get wiped out in 1 move and complain about luck.

Trading, specifically good trading is about the process, not luck, if you execute properly you will have bad luck and youll have good luck, it will even out over time, but you should be positioned that "luck" is just a random element, that has no meaning in the long term.

well make up your mind. You seem perfectly willing to admit there is such a thing as bad luck. But when it goes your way it is skill. Is there no such thing as "good luck."? And most importantly, can it be harnessed?

 

[Max E.]

well make up your mind. You seem perfectly willing to admit there is such a thing as bad luck. But when it goes your way it is skill. Is there no such thing as "good luck."? And most importantly, can it be harnessed?

re-read what i said, sure there is bad luck and there is good luck, but luck is meaningless over time, as long as you are executing properly. You can have good luck, or bad luck on any given trade but you need to account for that, you need to put yourself in a position where it wont wipe you out.

Most recently, I took a bath on $YELP, the day they said they were looking for someone to buy them, look what happened on may 7th. I lost 20k that day, I was short, the news came out, and i punched out as soon as it reopned, it ended up going from like 43 where it reopned to 50, but i was disciplined and i punched out instantly at 43, so i didnt blow out that day, it was bad luck, but it wasnt even enough to wipe out my month.

A few months earlier i was long a packaging company (cant remember the ticker,) that got buyout rumours and i made like 15k or something, so the two positions balance each other out, so over time, there is no such thing as luck, sometimes you will win on those random chances, sometimes you will lose, give it enough time and it all balances out, point is to not allow a single random lucky/unlucky event to end your career.

Complaining these events are "lucky" or "unlucky" is akin to complaining you are "unlucky" cause you lose a coin flip, where the odds are 50/50 based on random chance.

Do you get it?

 

[loyek590]

re-read what i said, sure there is bad luck and there is good luck, but luck is meaningless over time, as long as you are executing properly. You can have good luck, or bad luck on any given trade but you need to account for that, you need to put yourself in a position where it wont wipe you out.

Most recently, I took a bath on $YELP, the day they said they were looking for someone to buy them, look what happened on may 7th. I lost 20k that day, I was short, the news came out, and i punched out as soon as it reopned, it ended up going from like 43 where it reopned to 50, but i was disciplined and i punched out instantly at 43, so i didnt blow out that day, it was bad luck, but it wasnt even enough to wipe out my month.

A few months earlier i was long a packaging company (cant remember the ticker,) that got buyout rumours and i made like 15k or something, so the two positions balance each other out, so over time, there is no such thing as luck, sometimes you will win on those random chances, sometimes you will lose, give it enough time and it all balances out, point is to not allow a single random lucky/unlucky event to end your career.

Complaining these events are "lucky" or "unlucky" is akin to complaining you are "unlucky" cause you lose a coin flip, where the odds are 50/50 based on random chance.

Do you get it?

no, I don't get it and I don't complain
everything is 50/50
It's all based on random chance
but again I will agree, for most traders, it would be prudent to protect yourself from "bad "luck" whatever that is

 

[loyek590]

my point is, if you accept that you should protect yourself from bad luck, then you admit that luck exists

 

[Max E.]

no, I don't get it and I don't complain
everything is 50/50
It's all based on random chance
but again I will agree, for most traders, it would be prudent to protect yourself from "bad "luck" whatever that is

I dont understand how i could put it any clearer, we must be missing each other. There is lots of shitty random events that occur, which basically occur at a 50/50 rate, all you can do with those is absorb them and move on, with that said, i have a 70% win rate when nothing out of the ordinary happens.

So im willing to accept that some shitty random events will happen at about a 50/50 rate over time, half the time the outliers will be in my favour half the time they wont, but i dont let those outliers blow me out, and i continue to work my 70/30 edge.

 

[elliots11]

Luck cuts both ways. Good luck occurs when things happen that make us money but we never planned it that way. Is it possible to have skills and be knocked out by bad luck? Really I don't know but the point also is that people who are building skills can get discouraged when bad luck knocks them down. It takes insight to properly assess one's performance and profit alone does not cut it. Luck won't last but skills will. Those who are profitable and stay in the game for the long term have skills. This I believe to be true. Many day traders in the 90s thought they had skills when they went long high flying internet stocks. The fact is many backers want track records. People who provide such records for a year or so may have gotten lucky. That's why the win loss ratio is important in measuring performance. Also, skill building is a process and it is in flux. Reading the market wizards book you see a lot of successful traders who wiped out accounts early on. They got their skills later on. They did not give up.
I agree we have to be on guard for bad luck and be prepared and make sure not to let it destroy us.

 

[DDR]

Getting back on topic here, this girl actually really day trades ! gets up early does her home work etc. She studies with "Day Trading University" plus she's a playmate.
I mean come on, huge congratulations to her !
She's not a dumb blonde by any means. Shes traveled to more places and has experienced more life than most out there.

 

[i am nobody]

I think you all got it wrong, it's an ad, she's pumping the trading or trading related companies at the beginning. What's the kick? If a dumb blond can do it, anyone can.

Well, then prospecting at ET might be very lucrative. If a dumb blond can, then many ET'ers can too. Requirements or qualifications are not put too high....
But if looks are important i'm afraid most people here have a disavantage to her.

 

[i am nobody]

no, I don't get it and I don't complain
everything is 50/50
It's all based on random chance

If everything is 50/50 it would mean that in the long run:

• number of profitable trades should be equal to number of losing trades
• profits will be wiped out by losses resulting in zero result
• random chance will have no impact on the final result because random chance would neutralize itself

So you trade your whole life for making no profits? If you make profits it means everything is not 50/50. And even if you have good luck, bad luck will take your profits away again, that's inherent to random chances.

If Max can maintain a 70% win rate it means that things are not random.