Professional Trader - Ask your questions here for the next few days...

[smilingsynic]

Quote from Kassz007:

OP seems very credible, unlike yourself. Given the fact that he isn't responding to non-trading questions and flames such as yours (unlike Sick), is a good indication that he means business.

If you don't think the OP is credible and don't think his answers will help you make money, don't read the thread. Simple as that.

BTW, large font does not make your post any more important. In fact, it makes it difficult to read and comes off as being obnoxious.

TraderZones is obnoxious. That's why most of us have him on ignore.

 

[MohdSalleh]

Quote from TraderZones:

Sorry, but I read every one of the OP's posts, and it is mostly fluff and opinion. And there is no proof he is successful other than him starting a thread. You have a serious case of #6, below... Terrified that the goose that lays the golden eggs will go away. I have news for you. This goose likely only lays the kind of eggs that make omelettes. one can pretty much pigeon hold your particular lack of success based on your fear that Mr. Professional may stop posting. You can get most of his stuff in a trading book for $15 used, at Amazon.com

This is a forum. People ask questions. People answer questions. Others give different opinions. However, your terror at others who challenge the self-anointed is rather noobie. Challengeing others is standard forum practice. I am saying, "Who are you, again?"

Every ET paper trader is ready to fall all over every would-be guru, mentor, self-promoter. Except nothing so far has really been anything that would make the newbies here "successful."

He already admitted to being PMed about an opportunity. There is a chance that the motive (playing hard and appearing as a guru) is a powerful marketing method, and standard internet publicity-building 101. "Ask the Expert." You cannot be so blind that you haven't seen a fair number of these, from Jack Hershey to Doug Allen "trade my money" to Brandonf "DO YOU WANT TO LEARN FROM A GURU?" Unless you have SERIOUS proof to the opposite.

I will say it again:

1) In a place that you said has minimal value (ET)...

2) and that you said provided boredom...

3) and given the fact that you are pretty anonymous...

4) and that we get a lot of paper traders that claim to be special

5) why do you think "Professional Trader" applies to you?

6) and why do people so readily fall all over themselves to prostrate?

By the time they are done this thread, no one here will be any more longterm successful than when it started. And the OP gets his ego stroked

Starting off with "I am successful and plan to give back" is a self-centered way to start a thread. He could have just done this without the "I am only here a few days - going going gone... - line up and learn how I became successful" schtick.

You need to be banned

 

[blnbr]

Quote from DisciplinedHedg:

For me, 1% / 9% / 90%.

When you answered the other member's trading question, you placed extremely high importance to the psychology factor (Analysis 1%, Money management 9%, Psychology 90%)

Can you briefly share your insight or give an example about the importance of the psychology factor? Thanks.

 

[DisciplinedHedg]

Quote from keri60:

1. How long is your everage holding time of open positions?
2. Do you scale in and out? (Sorry if that was already)

I've discussed my holding time previously. Scaling is something I do almost always, both entry and exit.

 

[jem]

I do not understand how 90% of trading is pychology.

In fact I suspect eveyone who says that is actually someone peddling trading setups that do not work - so they blame the trader.


So please tell me why 90% of successful trading is psychology.

I think 90% of trading is either experience or having an approach with a strong edge.

 

[DisciplinedHedg]

Quote from ivanbaj:

(please ignore any question that you find inappropriate)

When you take a position based on a overall market sentiment or profile (assuming you do), and the price goes against you but the original situation remains the same, do you add to your position?

Do you use a general $ amount of risk that you reach by averaging in as the price moves against you?

Do you add as the price moves in your direction?

Do you scale out or do you get out at once?

Do you get out at predefined profit target? (You said you have a pain level in $ in your mind, do you have a profit, pleasure, level as well that you use to get out?)

If most trades you do involve writing options, does it mean that the profit potential is predetermined and you just wait to see if it plays out OK for you?

You said you watch every tick. Do you look for price action, like HH and LL etc... or do you look for a general feel of what is going on and compare that to a predefined price levels to make your decisions?

How many hours per day can you stay focused? Do you go over every tick for the day?

What best describes your trading activity:

1. You provide liquidity
2. You make sure that the price does not get out of hand
3. You extract money from the newbies
4. You allow big players to hedge their positions and get paid for the insurance you provide
5. You are like a parasite sucking money from the big players
6. You take educated bets and you don't care about the rest of the market participants

Price is usually the ultimate determinate of whether I am correct or not, so I try not to argue with it or trade against it (average down - unless that was my original intention).

Yes, I much prefer to average in when the price is moving in my direction, even if I have to pay up for it.

I don't have predetermined profit targets. When the market looks like it is undergoing a change in character, I will usually adjust my positions accordingly.

Options writing is part of the profits but not all of it.

Watching the market intraday gives me the most comfortable feel for the market.

I watch the market intraday as much as I feel is necessary. There are days with very little volatility and range, for example, and in that case I would just note the close.

From your list, #2 and 6 sound better than the rest, but I don't know that they are the best description.

 

[MandelbrotSet]

Quote from MohdSalleh:

You need to be banned

He's too harmless to be banned.

At this point, most of us just tune-him-out.

***

If you have someone to show you the ropes, trading can be learned in six months. If you you have to figure it our by yourself, the process instead may take five years (or more, or you quit).

After you get the knowledge in place, it's all about the psychology (especially when it comes to holding on to the bigger moves, which is how you get paid).

***

The OP seems to be a decent enough guy who has given honest answers to the best of his ability. I don't know why you guys want to make such a big deal about it, but then again, this is ET.

 

[drsteph]

Quote from rallymode:

If you are so good at calling market direction why do you trade options intraday?

I sometimes do something similar when I want to enter a short to medium term position and am unsure about entry position and expected near term volatility which may cause me to prematurely stop out. So I play a long option (or more probably an option spread). Helps me manage my risk better. I know its 'inferior' to vol trading (and I used to make fun of those retail types who traded options outright instead of playing the underlying), but now that I am older I have sheepishly joined their camp. As long as it is profitable, so be it.

You know, any of us can rip any other of us a new one here. So what.

 

[DisciplinedHedg]

Quote from blnbr:

When you answered the other member's trading question, you placed extremely high importance to the psychology factor (Analysis 1%, Money management 9%, Psychology 90%)

Can you briefly share your insight or give an example about the importance of the psychology factor? Thanks.

Quote from jem:

I do not understand how 90% of trading is pychology.

In fact I suspect eveyone who says that is actually someone peddling trading setups that do not work - so they blame the trader.


So please tell me why 90% of successful trading is psychology.

I think 90% of trading is either experience or having an approach with a strong edge.

To discuss both your questions...

I view the market as a market of buyers and sellers. So, for me, I tend to think that for my buy to be profitable, I have to either buy before everyone else and/or make sure that there are a sufficient amount of buying after me to be profitable.

For me to do this, I try to figure out the buying behaviour of others. To me, that is psychology and very important.

I know of traders who are purely systematic and psychology is of little importance to them. And it works for them.

 

[MandelbrotSet]

Quote from DisciplinedHedg:

To discuss both your questions...

I view the market as a market of buyers and sellers. So, for me, I tend to think that for my buy to be profitable, I have to either buy before everyone else and/or make sure that there are a sufficient amount of buying after me to be profitable.

For me to do this, I try to figure out the buying behaviour of others. To me, that is psychology and very important.

+1

Quote from DisciplinedHedg:

I know of traders who are purely systematic and psychology is of little importance to them. And it works for them.

They thought you were talking about your psychological state, not the other traders.