As I've posted elsewhere:
Somehow my success threatens you.
My advice is: you'd better get used to it.
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- Thread starter Index piker
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As I've posted elsewhere:
Somehow my success threatens you.
My advice is: you'd better get used to it.
Your success certainly doesn't threaten me in any way... we have some kinds of trades that have stop losses bigger than your entire account. How could I be threatened by your success?
I'm happy you made money, but my concern is that you don't realize how you made money. Making money doing the wrong this is far, far worse than losing money... making money for the wrong reason will kill you long term. If you just simply accepted you're trading, understand the long term issues with the leveraged instruments, etc etc you might have a chance of long term success. The fact you think you're a passive investor is... well... just silly.
Your arrogance annoys me. Your success does not threaten me. Those are two different things piker.
As for me offering proof... just evaluate my ideas and the things I've posted for what they are. It makes no difference if good ideas come from a professional trader or a doctor or a window washer... if you have the skills to evaluate ideas you'll understand what i've posted in other threads. If not... well whatever.
I see no reason at all I should offer you any proof of my success. You asking is rude and completely out of place... even though I know what youre trying to do is prove to yourself trading is possible. If you're ever in NYC drop me a PM... if I'm feeling magnanimous maybe you'll get your proof firsthand.
Trading is teachable. I learned myself at one point and I have taught trading many times. The people I have taught continue to trade professionally... some just for their own accounts, some working for larger funds and some running their own hedge funds basically. I sat at dinner last night with 5 other people who also learned to trade and now trade professionally. How can you begin to say this isn't a skill and can't be taught?
Just because you were not able to learn doesn't mean something can't be taught. Perhaps the problem was who was teaching you or what you were taught, or perhaps the problem was just simply that you were unable to learn. Not everyone can learn to trade... just because you can't do something doesn't mean it's impossible.
Happy New Year. If you want to know, my guess is the market environment may continue to favor what you're doing for longer than a lot of people expect. This is both good and bad for you... but ultimately bad.
Never confuse a bull market with genius.
I'm happy you made money, but my concern is that you don't realize how you made money. Making money doing the wrong this is far, far worse than losing money... making money for the wrong reason will kill you long term. If you just simply accepted you're trading, understand the long term issues with the leveraged instruments, etc etc you might have a chance of long term success. The fact you think you're a passive investor is... well... just silly.
Your arrogance annoys me. Your success does not threaten me. Those are two different things piker.
As for me offering proof... just evaluate my ideas and the things I've posted for what they are. It makes no difference if good ideas come from a professional trader or a doctor or a window washer... if you have the skills to evaluate ideas you'll understand what i've posted in other threads. If not... well whatever.
I see no reason at all I should offer you any proof of my success. You asking is rude and completely out of place... even though I know what youre trying to do is prove to yourself trading is possible. If you're ever in NYC drop me a PM... if I'm feeling magnanimous maybe you'll get your proof firsthand.
Trading is teachable. I learned myself at one point and I have taught trading many times. The people I have taught continue to trade professionally... some just for their own accounts, some working for larger funds and some running their own hedge funds basically. I sat at dinner last night with 5 other people who also learned to trade and now trade professionally. How can you begin to say this isn't a skill and can't be taught?
Just because you were not able to learn doesn't mean something can't be taught. Perhaps the problem was who was teaching you or what you were taught, or perhaps the problem was just simply that you were unable to learn. Not everyone can learn to trade... just because you can't do something doesn't mean it's impossible.
Happy New Year. If you want to know, my guess is the market environment may continue to favor what you're doing for longer than a lot of people expect. This is both good and bad for you... but ultimately bad.
Never confuse a bull market with genius.
Quote from Index piker:
As I've posted elsewhere:
Somehow my success threatens you.
My advice is: you'd better get used to it.
Quote from Index piker:
1) Obviously you think I'm unaware of the literature on these funds, I'm not.
Like I've posted before "this isn't your grannies index portfolio".
2) As I have said before to prevent coat-tailing of my portfolio I won't be disclosing that information.
3) I don't know, my crystal ball is a little murky on future prices. I'll leave that to traders who think the latest newfangled software can predict prices for them.
That is the BIGGEST LOAD OF BULL SH*T I HAVE EVER SEEN, and I used to work on a livestock farm.
1). It doesn't matter if its your grannies portfolio or your daughters portfolio or your brothers portfolio, leveraged etfs WILL lose money if you hold them over long periods of time. That is a fact. It doesn't matter who holds them. Saying this isn't your grannies portfolio doesn't make them a good investment.
2) Coattailing? Why would anyone one coattail you? Your not warren buffet. You don't have to disclose what price but at least tell me what leveraged etfs your holding. This is a journal for god sake. What harm would that do? Believe me, nobody will coattail your excessively risky garbage of a portfolio.
3) This sentence has more bull sh*t in it than any other. I'll tell you why. Two or three or four years from now almost every leveraged etf will be down huge and will have done one or two reverse stock splits. I will come back here and ask you how those leveraged etfs are doing. You will say something like, "I got out of them a week before they topped and put that money into treasuries." I guarantee it. Even though everyone knows you won't, you'll foolishly hold them and lose money. But you won't admit it. And nobody will be able to prove it because you never told us which etfs your holding and you won't tell you when sell.
You're actually pretty smart. It almost seems that subconsciously you know your portfolio will do very poorly over the long term, but you've already thought of your future excuses.
Planning for your future excuses, you should be a politician. Maybe work for Sarah Palin or something.
At least tell me, what percentage of your portfolio is in leveraged etfs?
Also, I remember you saying that somehow you think you will beat the s&p index. How will you do that by just having an index portfolio? Only one way... leverage.
Remember when you're multiplying your returns, it only takes one year of zero percent to make the end result zero percent. Amazing how many people forget that simple math.
Remember when you're multiplying your returns, it only takes one year of zero percent to make the end result zero percent. Amazing how many people forget that simple math.
Quote from Jesus:
Also, I remember you saying that somehow you think you will beat the s&p index. How will you do that by just having an index portfolio? Only one way... leverage.
No, there are other ways such as:
-- go long and short on the index.
-- market time (be flat at times one believes the market will outperform).
Quote from TraderZones:
No, there are other ways such as:
-- go long and short on the index.
-- market time (be flat at times one believes the market will outperform).
He stated he was a passive buy and hold index investor. Going short and timing the market would be trading activities which index piker is against. I wasn't speaking to the OP not broadly.
Quote from Jesus:
That is the BIGGEST LOAD OF BULL SH*T I HAVE EVER SEEN, and I used to work on a livestock farm.
1). It doesn't matter if its your grannies portfolio or your daughters portfolio or your brothers portfolio, leveraged etfs WILL lose money if you hold them over long periods of time. That is a fact. It doesn't matter who holds them. Saying this isn't your grannies portfolio doesn't make them a good investment.
2) Coattailing? Why would anyone one coattail you? Your not warren buffet. You don't have to disclose what price but at least tell me what leveraged etfs your holding. This is a journal for god sake. What harm would that do? Believe me, nobody will coattail your excessively risky garbage of a portfolio.
3) This sentence has more bull sh*t in it than any other. I'll tell you why. Two or three or four years from now almost every leveraged etf will be down huge and will have done one or two reverse stock splits. I will come back here and ask you how those leveraged etfs are doing. You will say something like, "I got out of them a week before they topped and put that money into treasuries." I guarantee it. Even though everyone knows you won't, you'll foolishly hold them and lose money. But you won't admit it. And nobody will be able to prove it because you never told us which etfs your holding and you won't tell you when sell.
You're actually pretty smart. It almost seems that subconsciously you know your portfolio will do very poorly over the long term, but you've already thought of your future excuses.
Planning for your future excuses, you should be a politician. Maybe work for Sarah Palin or something.
At least tell me, what percentage of your portfolio is in leveraged etfs?
1) Perhaps you are right, we shall see won't we?
2)When I make a future purchase or sale I will disclose the amount and perhaps the asset class .I'm not running an a free advisory service here.
3) I fail to see how reporting the changes in my account balance avails me the ability to claim actions not performed.
My current cash position is apx 15.3%
Quote from Jesus:
He stated he was a passive buy and hold index investor. Going short and timing the market would be trading activities which index piker is against. I wasn't speaking to the OP not broadly.
Get your facts straight I never claimed to be a buy and holder , as stated in my first post of the thread:
Index piker
I hope to show that decent returns are indeed available(in excess of 15% annualized) with the following concepts in mind:
1) keep costs low, minimal activity
2) diversification to eliminate idiosyncratic security risk
3) correctly identifying your own risk level
4) control your emotions so as to enable you to stick with your plan(which should be written).
and expounded upon on pg 2
Index piker
Minimal activity means just that ultra-low turn over and activity level. I've made no sales in either account since opening them.
I'm not saying I will never close out a position, only that it would take relatively extra-ordinary circumstances.
I'm completely comfortable holding positions for years.
Quote from Index piker:
Get your facts straight I never claimed to be a buy and holder , as stated in my first post of the thread:
and expounded upon on pg 2
Get my facts straight?
Your a PASSIVE INDEX investor. You practice buy and hold. You don't have to hold forever, but you still practice buy and hold. Anything less and your trading.
Those two quotes have nothing to do with buy and hold. In those two quotes you gave, you mentioned buy and hold zero times and "minimal activity" twice. Minimal activity sounds an awful lot like buy and hold to me.
From the article..
"If you've ever purchased an ETF labeled as Ultra, 2X, Double Long, or Inverse, please read this article. It will take only a few minutes of your time, and it just might save your retirement."
http://news.morningstar.com/articlenet/article.aspx?id=271892&_QSBPA=Y&pgid=etfarticle
"If you've ever purchased an ETF labeled as Ultra, 2X, Double Long, or Inverse, please read this article. It will take only a few minutes of your time, and it just might save your retirement."
http://news.morningstar.com/articlenet/article.aspx?id=271892&_QSBPA=Y&pgid=etfarticle