So much theory, so little real-time calls!!!

Cheese · May 19, 2008

If someone wants to make live calls I have no personal objection. If live calls are illustrating a methodology spelt out in advance they might posssibly have some validity. I wouldn't rule out doing it if I had a purpose to do so. So far I don't.

And as I see it, making live calls on ET is an ego thing and what for? To show off? To have a subset of morons follow and trade your calls? It is better instead to make yourself rich because you have learnt and traded your market using an accurate methodology. Real life success is not going to leave you with the time or desire to make live calls. There is too a problem with live calls in that they may or may not represent your actual trading. On CL your trading action sometimes is so fast that you can be securing the best part of a key movement inside a minute. There isn't time for any live calling.

There is of course so much breast beating as well as a lot of loud and feeble minded feuding on ET which makes for a high level of noise. I am not for any form of censorship of posts or editing of content at all but against such an anal background you do have to search around for the few useful or interesting contributions to trading discussion.

MandelbrotSet · May 19, 2008

There are a plethora of LIVE CALLS on ET everyday.

But I have no idea how these calls put money in a person's trading account or help them to develop and mature as traders.

Can you tell me?

ElCubano · May 19, 2008

Quote from RL8093:

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

but then again trading knowledge in a post does not translate into a consistent p&l ....

SusanaDT · May 19, 2008

Live calls separate the players from the bullshitters.

That's why so few in ET do live calls and even less do it with stop/targets.

Susana

OddTrader · May 20, 2008

http://elitetrader.com/vb/showthread.php?s=&postid=1926148#post1926148

Quote from Cutten:

The first thing to learn about position sizing is that your position size should have *nothing* whatsoever to do with whether your initial entry was a winner, loser, breakeven, or whatever.

The only rational way to position size is based on an assessment of market action up to the present time. Your own buy or sell decisions in the past have NOTHING to do with what the right position is now.

Therefore anyone who pursues a policy of adding to a winner, or cutting a loser, solely because it is a winner or loser, is being totally irrational. A position should only be added to if the current price & odds favour a bigger position. A position should only be cut if the current price & odds indicate that the trade sucks.

More clueless, illogical, irrational nonsensical superstitious bollocks has been written on this than any other subject in the field of trading & the markets.

HolyGrail · May 20, 2008

Quote from SusanaDT:

Live calls separate the players from the bullshitters.

That's why so few in ET do live calls and even less do it with stop/targets.

Susana

There is absolutely no reason that I can think of for a successful trader to make FREE live calls with the possible exception of teaching a trading method. Most successful traders look at it like "hey, I paid my dues to learn, you pay yours."

I can't really blame anyone for that attitude.

sg20 · May 20, 2008

Quote from SusanaDT:

Live calls separate the players from the bullshitters.

That's why so few in ET do live calls and even less do it with stop/targets.

Susana

Trader has to pay a dear price in order to be successful, to make live call is too easy for newbies and I don't think they can learn much from it as actually trading live; just as well, they'd blame on others for their failures in case the signals were wrong.

sg20

riskfreetrading · May 20, 2008

Quote from Joe Doaks:

I planned to do just that to becalm my sea of critics. But I found in multiple tests that the time stamp here is wildly unreliable. Were that ever fixed, I would cheerfully make bad real-time calls. I would do this knowing full well that I would be subject to the same hooting abuse that I received when I used to routinely post execution reports of the brilliant single car one minute trades I make to pay for my daily champagne ration.

Joe,

I would say that they will insult you even if you make good calls. "And once an insulter, always..."

Regards Joe (I like the wisdom in your posts)

ammo · May 20, 2008

i've posted in the past and have gotten pm's or directly on the post site that have been informative and helpful,things pointed out that i was not aware of,that saved me money or helped me make more,it also let's you know what kind of trader you are talking to,scalper,hedger,investor, i think real time calls are great

SusanaDT · May 20, 2008

Quote from HolyGrail:

There is absolutely no reason that I can think of for a successful trader to make FREE live calls with the possible exception of teaching a trading method. Most successful traders look at it like "hey, I paid my dues to learn, you pay yours."

I can't really blame anyone for that attitude.

Yes that's the excuse I hear all the time.

Very apt indeed.

Susana