You people are of absolutely no help. Nothing but sarcasm. SHEEZZZ....
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Quit my job today!
- Thread starter tampa
- Start date
Anyone on this board interested in opening a scalping shop I mean trading firm where we can teach kids living with their mommy and daddy's how to scalp all day and make practically nothing for themselves and a lot of commish for us. We then can go on this board and advertise like Don,Hitman and others. I am also interested in giving seminars and making learning videos for the gullible. Starting a web site on trading and charging a monthly fee and jerking people around with questionable trading strategies can also be a nice money maker. We will be so occupied with promotions and selling we may have little or no time trading for ourselves but then again it a nice steady stream of income for ourselves and we may have fun watching our customers get frustrated as hell and then offer them another program they will need to take it to the next level, but it will cost them dearly.
Shorteee,
Count me in. Please understand though that I am not doing it for the money but because I feel a deep obligation to give something back because of all the wonderful people who helped me. Also, as much as I enjoy trading ( and of course have made major cachingo), I find teaching to be so very fulfilling. There really is nothing to rival the satisfaction one gets from helping another, particularly if you have their AMEX number.
Count me in. Please understand though that I am not doing it for the money but because I feel a deep obligation to give something back because of all the wonderful people who helped me. Also, as much as I enjoy trading ( and of course have made major cachingo), I find teaching to be so very fulfilling. There really is nothing to rival the satisfaction one gets from helping another, particularly if you have their AMEX number.
Speaking of those smart traders (not), where is the "Snake Oil Showdown" thread? Has anyone followed up on it. Pure venom or not?
Apparently, the threads were deleted. Those spammers oughta be ashamed. The logins and passwords can be found here:
http://www.elitetrader.com/vb/showthread.php?threadid=4123
As far as a discussion is concerned, I've "not gotta a clue." But then again, I'm new.
http://www.elitetrader.com/vb/showthread.php?threadid=4123
As far as a discussion is concerned, I've "not gotta a clue." But then again, I'm new.
Yeah, I've been doing this prop trading which should really be called daytrading for a few months now.
It's nontrivial stuff when you come down to it. You can either 1) scalp in and out really fast and hopefully beat transaction cost 2) have a longer horizon like holding for a few hours/maybe a few days if you are swinging it so you can realize a bigger chunk of the move and beat transaction cost that way.
Otherwise, going in and out for a nickel or a few pennies here and there will NOT make you rich if you have the occassional 30/40/50 cents losers that can wipe and entire's day's worth of scalping profits.
But maybe if you are a really good scalper you will only lose 3-4cents?? I dunno. But then if your winners are only 4-5cents then you are basically flat and burning commissions for them.
The only way around it seems is to have an edge/methodology/strategy that is consistently profitable and cut your losses. There seems to be no other way around it. No software system, books, seminars, etc. can give you that exact edge. I think it's kinda personal. It's all in your head in some sense. It's how you consistently "perceive" the market. And perhaps a lil luck.
I'm still working toward that goal. It's seems far off now but it's all possible with enough discipline and practice I suppose... But if you don't think about what you are going to do or plan it out then getting there will be next to impossible..
that's just my 2cents,
trader99
It's nontrivial stuff when you come down to it. You can either 1) scalp in and out really fast and hopefully beat transaction cost 2) have a longer horizon like holding for a few hours/maybe a few days if you are swinging it so you can realize a bigger chunk of the move and beat transaction cost that way.
Otherwise, going in and out for a nickel or a few pennies here and there will NOT make you rich if you have the occassional 30/40/50 cents losers that can wipe and entire's day's worth of scalping profits.
But maybe if you are a really good scalper you will only lose 3-4cents?? I dunno. But then if your winners are only 4-5cents then you are basically flat and burning commissions for them.
The only way around it seems is to have an edge/methodology/strategy that is consistently profitable and cut your losses. There seems to be no other way around it. No software system, books, seminars, etc. can give you that exact edge. I think it's kinda personal. It's all in your head in some sense. It's how you consistently "perceive" the market. And perhaps a lil luck.
I'm still working toward that goal. It's seems far off now but it's all possible with enough discipline and practice I suppose... But if you don't think about what you are going to do or plan it out then getting there will be next to impossible..
that's just my 2cents,
trader99