If it's possible to be a successful trader why is it none of us personally know any. The majority of the people who claim to be pro traders are the ones we read about in their books or see at their seminars.
Take away their book sales and seminars and see if they can make a living trading?
(I highly doubt it)
Even those people offering educational services will not provide you with account statements verifying that they're profitable. Sure I've made money and I've lost money but overall it's been a real Tug of War. (not a psychological war ) I myself am still searching for the so called "latch" to the cage.(an edge or system) Most of the people who I know made there money by buying and holding longer term. I'm not giving up just stating my experience. There will be many posts by traders claiming that I'm full of shit and that my reply is simply not true because there so Great. Well if somebody wants to challenge my reply then I will say back it up. Prove it by showing P&L statements for a long length of time otherwise it's just randomness and not success.
Why is it that the guys that were so red hot awhile ago are not even talked about anymore? The so called Gurus (e.g.) Tony Oz, David Nassar etc... You can verify this by visiting the traderâs library and checking out the DVD section. Most of the traders in the DVD's are probably out of the game. Most prop firms cannot retain traders but they'll tell you they've trained hundreds of them. Well here's a question for the Prop firms. Where the hell did all of trained traders go? Think about it! If they made money they should still be at the firm but this is not the case. Most firms have less than 50 traders including those that trade remote. The one's that make the money in the prop firm is the manager who gets paid off of his or hers traders commissions. Why isnât there more traders at these prop firms. A good firm would show you what makes money teach you how to trade it and then make money off of you by your trading commissions. But the sad fact is that there's nothing to teach you. This is the toughest business you'll find and the most important thing you can do is have Strong Money Management until you find the latch.
That's assuming this cage has a latch....
Take away their book sales and seminars and see if they can make a living trading?
(I highly doubt it)
Even those people offering educational services will not provide you with account statements verifying that they're profitable. Sure I've made money and I've lost money but overall it's been a real Tug of War. (not a psychological war ) I myself am still searching for the so called "latch" to the cage.(an edge or system) Most of the people who I know made there money by buying and holding longer term. I'm not giving up just stating my experience. There will be many posts by traders claiming that I'm full of shit and that my reply is simply not true because there so Great. Well if somebody wants to challenge my reply then I will say back it up. Prove it by showing P&L statements for a long length of time otherwise it's just randomness and not success.
Why is it that the guys that were so red hot awhile ago are not even talked about anymore? The so called Gurus (e.g.) Tony Oz, David Nassar etc... You can verify this by visiting the traderâs library and checking out the DVD section. Most of the traders in the DVD's are probably out of the game. Most prop firms cannot retain traders but they'll tell you they've trained hundreds of them. Well here's a question for the Prop firms. Where the hell did all of trained traders go? Think about it! If they made money they should still be at the firm but this is not the case. Most firms have less than 50 traders including those that trade remote. The one's that make the money in the prop firm is the manager who gets paid off of his or hers traders commissions. Why isnât there more traders at these prop firms. A good firm would show you what makes money teach you how to trade it and then make money off of you by your trading commissions. But the sad fact is that there's nothing to teach you. This is the toughest business you'll find and the most important thing you can do is have Strong Money Management until you find the latch.
That's assuming this cage has a latch....
