the best traders i know are making great money..know how? they are not trading in this environment and doing things on the side. its that simple and if you think i am exaggerating,i am not. there are no discernable patterns and random whip saws which are extreme and the bext traders are getting hammered. the smart ones are sitting on their hands and conserving the capital they have. let the guys on ET slam me for saying that and let them say this is the best environment for traders in years...don't believe the hype. some are making some money but i know the truth and wants what best for some of you guys.
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the BEST traders i know
- Thread starter NY_HOOD
- Start date
Dude you must be smoking crack. Pretty much every trader I know had a record month last month. Look at the trader P/L forum, you have guys like The_Rocketeer who maybe six months ago posted his first $1,000 day posting $7-12k days.
The best traders are not sitting on the sideline man.
Just because the market is too fast and volatile for you doesn't mean that's generally true. This is the second post of this type you've made in the last week; it seems to me like you notice lots of people making money and you can't keep up. That's OK, I've felt the same way before during fast volatile markets, when my skills weren't developed enough to take advantage. Trying to justify your failures by making shit up isn't healthy. Not everyone likes a fast market, it IS easy to get killed if when you miss your out you hold against you.
This MKT is setups galore.
The best traders are not sitting on the sideline man.
Just because the market is too fast and volatile for you doesn't mean that's generally true. This is the second post of this type you've made in the last week; it seems to me like you notice lots of people making money and you can't keep up. That's OK, I've felt the same way before during fast volatile markets, when my skills weren't developed enough to take advantage. Trying to justify your failures by making shit up isn't healthy. Not everyone likes a fast market, it IS easy to get killed if when you miss your out you hold against you.
Quote from NY_HOOD:
there are no discernable patterns
This MKT is setups galore.
i must be smoking crack? i am smoking crack but thats besides the point. just don't want to see some of these guys lose their shirts,which many here are. NYOBscalper,i am sure you are doing ok and i am happy about that but most of these traders are getting hit hard and as i said a few big traders(well known) have taken huge hits and are sitting on their hands. i said that some are doing well but for the most part there is nothing wrong with a trder riding out the storm...
I get what you're saying, I just completely disagree. All the traders I know are making money. IMO if you can't trade this then size down trade 100 shares and figure a way out, because these are once in a lifetime opportunities to make money and as hard as this may seem trading the CHOP with a 15 vix in a light volume market with market makers playing games all day is 100 times as hard as this can be.
Just want to point out one thing. people dont come forward with their losses imagine if the stock market would drop 15% in one day, you would ALWAYS hear from the guys who were short, you maybe would hear from the ones who got killed. as a results in times of volatility you would think big profits are much easier, that is probably true for the very best daytraders but for the bulk of the trading world its not. if 95% of daytraders fail, in times like this it could be even higher
i do believe that this market is a proving ground so to speak. a consistent/good trader will make money in ths market in one of two ways; either by trading or having the discipline to sit out until the dust settles. being a good trader does'nt mean you have to trade everyday even as a daytrader. thats part of the discipline aspect we always hear about.