Quote from Scientist:
FYI: ortega .... "Intents and purposes" - Not: "Intents and purpose".
I'll admit I'm not the best writer and my punctuation and grammar are terrible. I use run-on sentences and incomplete sentences with incorrectly spelled words and phrases. It would appear obvious that I did not attend College or University.
However, last I checked I beat the pants off the college grads in the market and I took all their money. I have beaten the best and the brightest. I.Q. means squat in the market. The market does not care how smart you are or how many degrees you have.
Smart $$$ myth:
I have to say when I was a Futures Broker I would raise accounts by soliciting "self-direct" clients (Engineers, Lawyers, Doctors, Accountants, and other professionals with Masters degrees and Doctorates) who were not doing so well in the market i.e. "Losing thier shirts".
Needless to say that I had no end of prospects on a daily basis.
IMHO I believe that ............
Unless you have had the opportunity to post literally thousands of trades in several different types of markets.......
.....................YOU ARE AT A DISADVANTAGE!!!
Unless you have watched every tick in the market for at least a year (from 9:30am EST to 4:15pm EST for ES & NQ) and followed "ALL" the historical charts in the particular market that you wish to trade...................
..................................YOU ARE AT A DISADVANTAGE!!!
Unless you have access to realtime data and know how
to track intraday price patterns, recognize those patterns, test your ideas with realmoney in realmarkets with realtrades........
..................................YOU ARE AT A DISADVANTAGE!!!
Unless you are aware of what fundamental data effects the market you are seeking to trade ......
....................................YOU ARE AT A DISADVANTAGE!!!
Unless you are aware of what technical data effects the market you are seeking to trade............
....................................YOU ARE AT A DISADVANTAGE!!!
As a broker I met alot of desperate people who were sold a pipe dream about how easy it is to become a full time professional trader.
I would like to take the time to actually thank these "guru's" for making my career. Without them I would not have had any losing traders to disciple back when I was Futures Broker.
It is sad to see that these types of false, misleading "Castle in the air" building advertisements still go on today. People actually think that they can "figure" out the market by themselves and that they can actually build a "system" that will consistently extract $$$ from the market on a consistent basis.
It's not that easy. Wall Street has spent BILLIONS $$$ over the last 50+ years to be able to make that happen. In the 1990's Analyst were paid tens of millions of dollars to time the market. We still have the 1990's mentality alive and well today in that MANY think that they can do what so many have not been able to do.
This is no different than the lottery. Everybody believes that they will be the 1/50 million to win today! The odds are stacked against you before you have even begun.
This is no different than having unprotected intercourse with multiple sex partners and believing that the odds are in your favor that you will not catch a venereal disease or have an unwanted pregnancy. The odds are stacked against you before you have even begun.
That is why I started this mentor journal. To help demonstrate that it is not easy and that it takes alot of hard work.
For selfish reasons I must say that I do hope MANY more hopefulls come into the market because that is were I make my money.......(being on the other side of thier trades).
