The Rise of the Day Trader

[AlpineTrout]

Quote from jem:

why would anyone have negative comments about traders taking money out of the market.

Wealth Envy, plain & simple. Its a cancer that some people have.

 

[AlpineTrout]

The first thing that occurred to me while reading this article, was how stressed out he was. That seems odd given his experience.

 

[Anaconda]

Quote from fhl:

I traded with em at broadway trading back in the day. The brother, Serge, was on the cover of Forbes.

They have not blown out.

Broadway Trading again? Enough of the comedy.

You may fool some, but not others. That shop is famous for being Blow Out Central when the Tech Bubble was busting. It was actually one of the first shops to go and was one of the loudest blow outs.

 

[cashmoney69]

you cant really blame the author. He is simply writting what he is told, and what he sees around him. He probably doesnt trade. If he sees traders swearing, and acting like animals, then, yea, he's going to write that, and I'm sure in places like that, a lot of them get carried away in the heat of things.

The whole point is to show that there ARE people making money in this market and its not the investors...its these guys like the one in the article.

 

[cubsguy81]

Quote from Rabbitone:

These kinds of articles are disgusting. They portray traders as animals in the heat of the hunt, tearing apart their prey as they swear at them. Writers never take the time to show the real work that goes into trading profitably and the discipline that real traders must show in order to succeed. Most of these trading room hot shots will never survive the coming market changes.

I guess this is proof you don't need to be intelligent to trade.

 

[Cesko]

Quote from Rabbitone:

These kinds of articles are disgusting. They portray traders as animals in the heat of the hunt, tearing apart their prey as they swear at them. Writers never take the time to show the real work that goes into trading profitably and the discipline that real traders must show in order to succeed. Most of these trading room hot shots will never survive the coming market changes.

Journalists are not known for hard work ethics.

 

[TraderZones]

Quote from uptik2000:

It isn't telling you that at all but you should ask yourself why you think it does.

Of course it is. His small group's blowup rate is high. And TA pretty much fails under longterm testing.

The article writer is showing EXAMPLES of supposedly successful traders. Nothing is proven here

 

[IronFist]

ifl

 

[Cygnus Atratus]

Quote from TraderZones:

Of course it is. His small group's blowup rate is high. And TA pretty much fails under longterm testing.

The article writer is showing EXAMPLES of supposedly successful traders. Nothing is proven here

And fundamentals work well in the Bull Market we have had in the last 70 years (get yourself an yearly chart)

 

[Rabbitone]

Quote from gaj:

why make generalizations? what works for one person may not work for another, and vice versa.

for example: i swear at my monitor, a LOT when no one else can hear. doesn't affect my trading.

100k swings would be huge for me. however, my swings would be large for others. it's all what the individual can deal with, their personality, best trading style, etc.

i would say that, as long as you're not trading volatility straight, if you can survive in THIS market (esp. the past couple years), you can survive in almost any market. not with as big gains, but as a daytrader? sure. it's not like the late 90s, where it was straight up, or the early 2000s, where it was straight down.

Gaj - The swearing was not the issue we are talking about. Many non-trading corporate professionals swear all day long at computer tubes. I know I did as a DBA at 2:00 AM when I used to recover 2 gigabyte databases before I retired to being a trader. However, I never recall DBA’s being depicted this way in any publication.

What we are saying is this article characterizes traders as seat of the pants reactionaries who are ill prepared to trade, much less perform any function in society. The writer made it sound like traders are stealing from the markets (from the poor investor) as they collapse and are not grounded with any form of method or planning to do this on a regular basis. We are in effect the Gauls sacking Rome. The writer was blaming you and I for the markets ills. We are the bad guys. Think about it. The next time you are introduced to some one new as a trader. Is this the characterization from this article the way you want to be pictured?