The Rise of the Day Trader

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
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Some pretty pathetic posts here. The guy is making big bucks and ET members are immediatelly trying to prove to themselves that since they are not making the same there must be something wrong with the guy or that he will fail in the end. Wake up! The guy knows his stuff and is making great money in this bear market.
This should be an inspiration to you. Maybe try doing what he's doing instead of these explanations and excuses.
 
Quote from Pekelo:


http://nymag.com/news/businessfinance/53617/
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So he is in the minority of bubble traders who survived the tech bust and saved his fortune. Props for that.

Seems like he trades in the same balls to the wall manner of those days.

I don't see what is so impressive, the main difference is that he can avoid to take big risks, swing positions and has experience behind him gotten during much easier times.

Like I said, these guys are in the minority. Most of those who cashed in during the Golden Age of Daytrading moved on to other ventures.
 
Quote from Banff01:

or that he will fail in the end. Wake up! The guy knows his stuff and is making great money in this bear market.
This should be an inspiration to you.
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That was the point, as several of his small group of friends doing the same thing blew up. He has not demonstrated he knows his stuff. Playing the odds will pretty much always bring the windshield to the bug, in time.

There is nothing impressive about riding the waves until the Risk of Ruin comes to call.

It is like a person who falls off a cliff. It is not the ride that kills you, but the sudden stop at the bottom.
 
Quote from Banff01:

Some pretty pathetic posts here. The guy is making big bucks and ET members are immediatelly trying to prove to themselves that since they are not making the same there must be something wrong with the guy or that he will fail in the end. Wake up! The guy knows his stuff and is making great money in this bear market.
This should be an inspiration to you. Maybe try doing what he's doing instead of these explanations and excuses.
More...

I agree the hostility on this board is crazy. I know the Milmans from broadway, they are the real deal. If anyone doesn't believe the numbers go to lightspeed trading on 148 madison ave. and ask to walk around the office. You will see a number of traders up lots of money. Yes folks some traders do make money at this game and are not renting prop space to look at porn all day long .
 
Quote from jd7419:

I agree the hostility on this board is crazy. I know the Milmans from broadway, they are the real deal. If anyone doesn't believe the numbers go to lightspeed trading on 148 madison ave. and ask to walk around the office. You will see a number of traders up lots of money. Yes folks some traders do make money at this game and are not renting prop space to look at porn all day long .
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Absolutely agree as well. There will always be people who will be naysayers and be standing on their pulpits trying to make excuses for their own failures, projecting their own weaknesses..and I welcome them back to the market every day. :)
We can't live without them.
 
Quote from TraderZones:

That was the point, as several of his small group of friends doing the same thing blew up. He has not demonstrated he knows his stuff. Playing the odds will pretty much always bring the windshield to the bug, in time.

There is nothing impressive about riding the waves until the Risk of Ruin comes to call.

It is like a person who falls off a cliff. It is not the ride that kills you, but the sudden stop at the bottom.
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So TA doesn't work?

And markets are unpredictable?

If these are your beliefs, why do you have 2400+ posts trying to justify your failure on a trading forum?
 
Quote from Anaconda:


Like I said, these guys are in the minority. Most of those who cashed in during the Golden Age of Daytrading moved on to other ventures.
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Yeah, hedge funds...you must be jealous :cool:
 
This is a thread resurrection but I recently saw this video on Youtube. I don't understand all the naysayers. This guy and his brother have been doing this for a long time.

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