So much theory, so little real-time calls!!!
- Thread starter OddTrader
- Start date
Only a complete noob would think what the original poster wrote. (no pun intended. maybe you rushed)
An experienced and mature trader knows that he might not be right and knows that proving right/wrong on a call or two would be useless and wouldn't help him at all. Therefore, MOST mature traders do not make live calls, not even to their family, because if the call fails, he loses the appreciation of others, which is one of the drives of his self-confidence.
What a mature/experienced/profitable trader can do to prove his skill once in a while is post his P&L for a given time period.
Just my 2 cents.
An experienced and mature trader knows that he might not be right and knows that proving right/wrong on a call or two would be useless and wouldn't help him at all. Therefore, MOST mature traders do not make live calls, not even to their family, because if the call fails, he loses the appreciation of others, which is one of the drives of his self-confidence.
What a mature/experienced/profitable trader can do to prove his skill once in a while is post his P&L for a given time period.
Just my 2 cents.
I don't think that this can be generalized.
Were a trader to post real time calls, the effect would be to place him at a spot on the continuum of other known trader's performance. He already knows that.
The continuum for theory and live calls is an identity once either is on the table.
If you wanted to see where everyone fits along a performance or methodology line you could ask for others to post who is better than they are or, conversely, who is worse than they are. trader's who think the opposite of one another probably would be as close to the same as their exaggerations.
For a person to communicate their performance skills, I feel it is best to let another know when you have a turn coming up before the turn. The better time to announce this is best determined by the person you are communicating the turn to.
The biggest variation in people chatting about performance to one another is their turn frequency and what % of trading time they are in the market. Polls on both of these would be helpful especially if each person also stated their vote.
I have found that most other traders offer me their opinions on where they are on the spectrum and how widely separated we both are on the spectrum.
When trading in hook ups that are live and in real time, most people prefer to be told over five minutes ahead of when the turn is going to be made. Personally, I rough out my log 3 to five trades ahead.
You have an interesting thread going here. It will probably get even more interesting as time passes.
Seems that most profitable traders are adequately comfortable & secure w/ their trading (& their capabilities) so there is no need to 'prove' themselves to the inhabitants of an anonymous message board.
Requesting others to post real-time calls shows:
- an inherent lack of understanding that trading is based on probabilities and that any individual trade may not work as intended
- a desire to piggyback on the calls of others (while demonstrating/advertising a lack of trading prowess)
As others have stated, if there is a need to 'prove' trading success, the better forum for that is in the P&L area. While the P&L's can be (& have been) faked, it usually is not all that difficult to see who has valuable trading knowledge through the content of their posts.
Best of luck in your trading journey...
R