Surf's Special Situation Journal

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Quote from CoolTraderDude:

Well...

There's Dan Zanger...!:D http://www.chartpattern.com/ He had a good run for a while before he started selling stuff...
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Yeah, but even he was forced into the marketing business-- i bet he makes far more from his site than he ever did via trading. CLearly, trading simply wasn't enough, even at his skill level.

However, we have aliases here that make ridiculous claims.

surf
 
Quote from Pekelo:

That's because chart patterns come and go, but (the number of) people willing to pay for a dream stay...
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Well said, Pekelo! Many of these posters are brainwashed by the dream--- they have that PMA but nothing but posts on a message board to back it up....
 
I think you have just contradicted yourself:

Quote from marketsurfer:

1. I totally believe that its possible to survive and even thrive as a prop trader---
2.With that said, even as a prop trader, I doubt you will survive for the long run without outside income-
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Again, I agree with the #2, but that is against the first point. Basicly you are saying one can not make a living as a prop trader in the long run. So why try TST?
 
Quote from marketsurfer:

No, pekelo--- I totally believe that its possible to survive and even thrive as a prop trader--- prop firms have and teach edges that really work-- plus provide capital and leverage. I am talking about at home retail traders, particullarly those who trade FX dealers like our resident siberian pyschologist.

With that said, even as a prop trader, I doubt you will survive for the long run without outside income-- sure you will have good periods but edges only last so long.
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The retail traders who do make it do so because they hit a home run... They go big (relative to their account size) on a stock and when it soars they make some money. You hear about them from the marketing factories out there who advertise them as a success story that you can follow... But in reality, all you get is survivorship bias... that is... You don't hear about the 150000 that got wiped out trying to do the exact same thing.

Real edges provide you with a boost and make trading easy and repeatable for you.

See how many of the retailers can repeat their miracle...! Again marketsurfer is telling you the truth...
 
Quote from Pekelo:

I think you have just contradicted yourself:



Again, I agree with the #2, but that is against the first point. Basicly you are saying one can not make a living as a prop trader in the long run. So why try TST?
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I changed my original post, I left out "for the short term" by mistake.
thanks for pointing that out. surf
 
Quote from CoolTraderDude:

That's both harsh and unfair... But if you're the real deal go ahead and prove it...! Show us how you're a real "trader"... What exactly is it that you do that makes you a real trader and works well in the market...? Trust me... Marketsurfer and I have seen it all... You probably just think you have something but you really don't.
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well when I enter a trade I also enter a stop loss.

Problem is I win more often than not.

And stick your combime (sp) up your arse
 
Quote from marketsurfer:

Yeah, but even he was forced into the marketing business--
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The other example would be Don Miller. After one very good year (I think it was 220%) he realized that was most likely an outlier and switched to trader education. And he was right, he is making more money from that now.

His long term average was around 30% if I recall.

Quote from CoolTraderDude:

The retail traders who do make it do so because they hit a home run...
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This was also true with Miller. Once he made his account into the millions, that 30% has provided a decent living.
 
Quote from CoolTraderDude:

AND don't I know it...!!!:D

The worse part is no one believes you when you tell them that.... They look at you as if you're full of it...

Trust me everyone... Marketsurfer is telling the truth here... The market changes all the time... Once computers were introduced to NYSE scalping pretty much went dead for everyone who wasn't using HFT algos... AND scalping was hard enough even when the market was controled by human operators...
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Another failed trader who can't trade his way out of a paper bag.

Let's see, we have two people agreeing on things here. Both blew out (some numerous times). It's comical how the failed traders are ususally the loudest whining that others can't do it.

Enough said.
 
Quote from Pekelo:

I think you have just contradicted yourself:



Again, I agree with the #2, but that is against the first point. Basicly you are saying one can not make a living as a prop trader in the long run. So why try TST?
More...

If the firm offers you an edge through technology, execution, rebate/credit trading etc... Your career will be exactly proportional to how long your edge lasts...
 
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