i`ve put so much work in the past,just not willing to put any more. the circle has locked for me in terms how the sticks and dots line up on the chart.so now i want to relax with the iphone app`s line chart so i can trade out of the toilet.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
The top 3 guys who make over 1 million a year at my firm...
- Thread starter s0mmi
- Start date
I owned a floor in a loft building in Tribeca and since it was only five floors we were all on the coop committee. I met with my partners once a month. I sold one of the best very highly leveraged investment imaginable (a friend of mine sold it to me with nothing down and he held the paper) because it was prefereable to doing time for murder. I would never again take on a group of partners that i didn't know extremely well. You couldn't give me a coop apartment for free.
Quote from tradingjournals:
The law, the documents, the votes, the money one puts in, etc, is what would keeps everyone equal and in line. People would not fight too much for 1K each, but one never knows. You seem to have experience on the ground dealing with partners, so I value your judgement.
Quote from Swan Noir:
I owned a floor in a loft building in Tribeca and since it was only five floors we were all on the coop committee. I met with my partners once a month. I sold one of the best very highly leveraged investment imaginable (a friend of mine sold it to me with nothing down and he held the paper) because it was prefereable to doing time for murder. I would never again take on a group of partners that i didn't know extremely well. You couldn't give me a coop apartment for free.
You have some real life stories. You must find trading "really free" of headaches. Maybe your past headaches is your edge, in the sense that you would view the stop loss as cheap compared to the real headaches in real life cases. I think I read something about oil wells in one of your posts. From that time, I paid additional attention to what you write. Experience cannot be bought with money.
Frankly, it has been a real struggle learning this. Some of my experience has been helpful and I do know how to cut my loss and not let it ruin my day. Once it's closed out it is history and five mintes later it is ancient history. But this is a hard game. No matter what else you have done in life the dues still have to be paid in the line you are in. If you forget that you better go back to what you did before because you'll never cut it here.
I'm fortunate that my aspirations are realistic. Some guys are trying to turn a $5,000 account into a million dollars in a few years. I wish them luck.
I'm fortunate that my aspirations are realistic. Some guys are trying to turn a $5,000 account into a million dollars in a few years. I wish them luck.
Quote from tradingjournals:
You have some real life stories. You must find trading "really free" of headaches. Maybe your past headaches is your edge, in the sense that you would view the stop loss as cheap compared to the real headaches in real life cases. I think I read something about oil wells in one of your posts. From that time, I paid additional attention to what you write. Experience cannot be bought with money.
Some of the stuff I read on this forum just blows me away. I really wonder what percentage of the members here are completely delusional.
Quote from tradingjournals:
Here is something I never understood about the great people and traders in this forum. Let us assume there are 100 great folks here who know how to trade well, and make money.
Why do they not get together and put in say 1K to 2K, build an organization, make money, and use it as a base to bring in more money? With 100K total they can trade say 0.5M, at cheaper commissions, cheaper rates, etc. The whole could then be higher than the sum of the parts, and at less risk.
Then if all goes well, the entity might then consider the public company route. Isn't that how Warren did it? My understanding is that the old man understood that issuing stock is the bigger wealth multiplier.
>> There are many things that would never work in your suggestions. Firstly, I have a hard-enough time deciding myself whether to go long or short, and you want to try get 100 people of equal-say to agree? It will never happen.
>> Also, you can't compare Warren Buffet to 100 elite-trader members. Warren Buffet is an extremely talented trader, with a long-bias and preference for shares and longer-view (I consider investors just longer-term traders and they have to apply the same skillsets we do).
>> Finally, if you control $500,000 and even if you are an amazing team (by some miracle) and you generate 10% return per year, you'll only make $50,000 split between 100 people = $500 per year.
There's a reason why the biggest traders ride solo and control their own money.
I think Warren is misunderstood. Let me give an example. This thread is about how to get money for trading/investing. The solution sought is essentially to pay some fee for maximum leverage, but the fees and interest are still a positive quantity (a number of times the risk free rate).
Warren's way is different. People pay him to give him leverage. This is a powerful model, because you get paid to have leverage! He is already ahead of others by at least twice the risk free rate because of his model.
I can implement his model, but one needs a supporting framework and seed funds to do it.
Warren's way is different. People pay him to give him leverage. This is a powerful model, because you get paid to have leverage! He is already ahead of others by at least twice the risk free rate because of his model.
I can implement his model, but one needs a supporting framework and seed funds to do it.
Quote from OverDriven:
Some of the stuff I read on this forum just blows me away. I really wonder what percentage of the members here are completely delusional.
>> I am also shocked at how some people think here but I have seen it plenty of times before.
Every 3-months or so there is a new group of trainees. There are always a variety of characters.
>> You will be amazed at how some people actually operate. They have twisted views of reality or they simple are just ignorant.
I've seen... (just to name a few)
#1. Every group has a guy who is making money on the trading sim and thinks it represents any sort of skill no matter how many times they are told that TRADING SIMULATOR MEANS NOTHING. One time, a guy had a really good day and went straight to the head-traders office to brag. Seriously, brag, about sim money. He came out 5-minutes later with his head down to the ground.
#2. There are always people that want to argue with the head-trader and most experienced people. Disagreeing with their views completely (when their views aren't about market direction but more about style-of-trading-needed-to-succeed in current market conditions).
#3. People come in and completely ignore what people are doing to make money. They come in and seriously have huge heads and think they're going to be the 1 in a million guy to come up with a 'unique' style of trading that's going to blow everyone else out of the water. So they don't listen and learn. Instead they hear what everyone is saying, nod their head, but the way they trade just screams 'ego'.
#4. There are idiots who just blindly ignore solid advice and information from people who are consistently profitable. They don't want to believe. When I came in, I was listening to everyone I could and any advice I got, I was extremely grateful for.
So I've been consistently profitable for 2 years straight and you've disagreed with 90% of the things I've said about the game, how to succeed and building consistency? Good luck.
#5. And then there are the braggers who find some winning days in their first 12 months of being live and want to tell the world about their great day... over and over... every single time it happens.
They don't have an accountant & they're still trading from with-in the office every day because they're forced to.
>> What happens, I've noticed, is that if you survive long enough to be trading for about the 2.0 year mark your confidence and body language changes to a veteran soldier of war. Like you've just been through so much and it's taken a toll on you mentally.
>> 99% of consistently-profitable traders who been around 3+ years are wounded soldiers, war-victims, and are very humble when it comes to their trading.
People are not interested to know you were blown away, but they would be interested to read what you think blew you away, because the former has value only to you, the latter may have value to you and to them.Quote from OverDriven:
Some of the stuff I read on this forum just blows me away. I really wonder what percentage of the members here are completely delusional.
i got financing many years ago at one prop shop,by producing the SIMULATED result for the 4 weeks,mr 'know it all' s0mmi!stop being an ultimate truth here,becomes borrrrrrrrrrring!!!