throwing in the fkin towel!!!

The funniest post on this thread is definitely Mr. Papertrade.

LOL.

Until your ass is on the line and you are trading for a living (as your only income), you don't know what it is like to trade. Every trader in here is chuckling at that one, I'm for sure. It's not until you are using real money and trading for a living that you realize how tough mentally it is to be a trader.
 
Quote from slickshal:

thats it.. i had enough of the bs. day trading is for fools. its a con game thats being run by a very few. the ones who bring home checks are as rare as finding a chicken with teeth.

dont beleive the hype.. especially if its being told by mgmnt. whats ur loss is there gain. by the time u realize whats happened.. you'll be out of good some of money..

i truely believe that if ur willing to devote the hard time and effort in this.. u can easely refocus that energy towards a better career that will bring u much success!

and no i didnt get hammered.. im just smart enough to realize early that its a suckers bet.

so all u people with a edgu-ma-cation, use your common sense and wake the frig up!
you will FAIL!
9 outta 10 do... what are the odds u being that one ? huh.. com'on... who u kiddin?
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There's a lot of truth in that post ... not to mention that trading isn't necessarily the most sociable activity that one can do.

But traders are driven by more than just a desire to acquire wealth, alot of them have EGOs to match their desire, and there really is something to be said for succeeding at a task where it is considered that 90% fail. :)

Good luck with your new career, you can be just as happy (if not more so) pursuing it.

Regards,

JJ
 
"if you want ot INVEST for the longterm, it is relatively simple *assuming the world does not end*

there is not a single 20 yr period in HISTORY of the stock market in the US (well over 100 years btw) where a simple dollar cost averaging every month into a stock index (which is easy to do now with ETF's) wouldn't have provided good returns over that period - better than most other asset classes in most cases, and in every case a positive #

this is ONE of the portfolio strategies i use.

peter lynch was right. if you want relatively safe, longterm investments, buy what you know.

good companies, on balance, tend ot go up. grandmothers in oklahoma know this."

-----------------------------------------------------------------------------------

What about 1960 to 1980? or better yet, 1927 to 1947? I guess it depends what your definition of "good returns" is...
 
Quote from slickshal:

15k means alot to me... im a home owner w/ a family. in flippin under capitalized right now.

and ur right the specs were fukin thieves..i was on the phones side, representing institutions, so we hated them also.. they were so blatentley screwing on prints and we just took it on the chin...

and yes i was friends w/ "joey" (nomore).. he was the hewlett spec and one of the biggest thieves down there.. thats why he's doing time.. his best year was making 30 mil. ripping off the public.. and now he's sacrificed 3 yrs for it. im sure he'll buy some island when he gets out and retire...

im very humble and bery dissapointed right now so keep it coming.. i deserve it..
:(
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It's been only 4 months, just realize that. 1 year, minimum, before you can even start to see whether you can do it or not. Maybe a year and a half in this environment. Took me 8 months to actually "get it" and I had to run down my account 10k to learn it the hard way since I was being taught crap. 9 months to actually turn my account positive. But that was 2003, whole nother market. Even if someone was teaching me to tape read from day one and not scalp with an outdated strategy, I say minimum 5-6 months before I would have turned a profit.

Chances, you would have done better in another profession, assuming you picked wisely. So unless your heart is set on daytrading US stocks & US stocks only, you might be better off throwing in the towel cause there are tons of other markets to trade that are easier & more lucrative, let alone other opportunities. Otherwise, it's wayyyy too early to pull the plug.
 
Have you considered trading futures ?

Less games played there. Good system, some tape reading, some technical analysis and with some patience and perserverence you should be golden.
 
There was a vender on ET a few years years back who use to post a lot of useful articles. He said he had had over 5000 people take his (expensive) courses.
I asked him and his associate how many of his students were successful full-time traders now. He couldn't give any names or data, and after the honeymoon period most stopped even writing to him.


I wonder if any of the vendors on this thread could give us some statistics.
 
Quote from slickshal:

day trading is for fools. its a con game thats being run by a very few. the ones who bring home checks are as rare as finding a chicken with teeth.
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chicken_with_teeth.jpg
 
Man, I already refuted you, still keep bringing it up:

Quote from whitster:
there is not a single 20 yr period in HISTORY of the stock market in the US (well over 100 years btw) where a simple dollar cost averaging every month into a stock index wouldn't have provided good returns over that period -
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I guess if you consider zero or negative returns as good ones:

(absolute value): 1966 to 1983 (OK, not 20 years but close enough)

(relative, inflation adjusted value): 1954 to 1985 (definiatelly more than 20 years)

also :


-- 1920 to 1943 period
-- 1928 to 1949 period

And let's not forget between 1912 and 1932

So please, stop spreading missconceptions...
 
Quote from JB3:

The funniest post on this thread is definitely Mr. Papertrade.

LOL.

Until your ass is on the line and you are trading for a living (as your only income), you don't know what it is like to trade. Every trader in here is chuckling at that one, I'm for sure. It's not until you are using real money and trading for a living that you realize how tough mentally it is to be a trader.
More...

Correct!
 
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