Trader P/L 2005

[SammySOESa]

Quote from stockripper:

active trader article by the #1 trader accountant in the nation.ONLY 4% OF 1000 RETURNS HE DID IN 2004 FOR TRADERS MADE OVER 50K.

it's been a while since i took statistics in college, but i think you have to extrapolate that 4% over the entire population of traders.. not just one accountant's returns. he just represents a sample.

assuming there are 20,000 active traders (i'm just pulling that number out of the air.. it might be more, and i doubt it's much less), a 4% block would represent 800 people. out of the 800 traders who make over $50K a year, you don't think a handful (10 regulars, maybe) of them would post their blotters on the most popular trading community on the internet?

i don't understand where someone would get the time, or what they'd have to gain by manipulating a blotter. mksummny and MR. NBBO obviously have a lot more money in their accounts than the average guy, so their p&l's skew higher to represent that. i don't see why it's so hard to believe.

 

[mksummny]

haters, you know Matt Damon plays poker on fulltiltpoker.com
He has many more millions than I do. why do you think he wasted his time playing poker online? Only losers play online, or chat online right? Why waste your time when you got millions? I mean all rich people do is sit around count their money, sip cognac, and have their servants do everything for them. right?
Dont you find it entertaining that Mark Cuban, a multi billionaire, blogs on the internet everday. why isnt he out doing "RICH PEOPLE" things. Maybe he is a liar too, yeah thats it he is a liar and a loser

 

[Appleseed]

i've trained at least 2000 traders over those years

Do you know whose doing their taxes?


John

 

[brokerboy]

Quote from mksummny:

haters, you know Matt Damon plays poker on fulltiltpoker.com
He has many more millions than I do. why do you think he wasted his time playing poker online? Only losers play online, or chat online right? Why waste your time when you got millions? I mean all rich people do is sit around count their money, sip cognac, and have their servants do everything for them. right?
Dont you find it entertaining that Mark Cuban, a multi billionaire, blogs on the internet everday. why isnt he out doing "RICH PEOPLE" things. Maybe he is a liar too, yeah thats it he is a liar and a loser

I think you make money trading but not as much as you pretend. Hey maybe your from a rich family because if everything you said was true you would have been one of the under 30 great traders for sure.


http://profiles.yahoo.com/mk_sum_mny

 

[mksummny]

Thanks I need to update that information on yahoo. rich family is a big negative, and you can think what you want if it makes you sleep better at night.

 

[Steelhead]

hey thats a nice picture

heres a pnl people will believe
on the heels of a downgrade AIG rallied 80c today as wall st. insiders bought it up knowing the announcement of a big hike in dividend was coming a hour after the open. -2k here, fukin furious

 

[wizardx]

i have visited this thread on occasion and have read several, but not all, of the posts.

for those who say mkskummy and nbbo are fakers, what do you think is the motivation behind them doing this? as far as i can tell, they are not revealing their real names and they are not asking for your money, so fame and fortune doesn't appear to be the reason. what do you think they have to gain by pretending to be profitable as some of you suggest?

i am not taking sides. i want to understand your reasoning. maybe there is something i haven't read.

please do not use the statistics from that one particular cpa firm in trader's magazine. any person who has a basic understanding of statistics will tell you that those stats (traders who use that one particular CPA firm) aren't a random sample of the population (all traders), so the stats cannot be used to draw conclusions on the population. in fact, you don't need any statistics background at all. it is really just common sense.

 

[Longhorns]

Quote from stockripper:

go read this months active trader article by the #1 trader accountant in the nation.ONLY 4% OF 1000 RETURNS HE DID IN 2004 FOR TRADERS MADE OVER 50K.

Why would someone who made less than 50k even need to hire an accountant?

 

[brokerboy]

Quote from wizardx:

i have visited this thread on occasion and have read several, but not all, of the posts.

for those who say mkskummy and nbbo are fakers, what do you think is the motivation behind them doing this? as far as i can tell, they are not revealing their real names and they are not asking for your money, so fame and fortune doesn't appear to be the reason. what do you think they have to gain by pretending to be profitable as some of you suggest?

i am not taking sides. i want to understand your reasoning. maybe there is something i haven't read.

please do not use the statistics from that one particular cpa firm in trader's magazine. any person who has a basic understanding of statistics will tell you that those stats (traders who use that one particular CPA firm) aren't a random sample of the population (all traders), so the stats cannot be used to draw conclusions on the population. in fact, you don't need any statistics background at all. it is really just common sense.

Well you seem very new to ET. There are a lot of people that feel good saying they make a ton of money even if it’s false. Why do people go into chat rooms and pretend to be people there are not? I don’t know and that’s why I would don’t go in them. People have issues that we can’t understand and living a fake life on the internet makes them feel better about themselves. I think there are a lot of good trader on here Eric and Sammy are just a few. He talks like it is simple as pie and that’s false. If he was making a million a year he would be on the top traders under 30 lists. He is 27 trades from home driving high end cars and flipping real estate after his 9 hour trading week. He talks like money falls from the sky and all I am saying is bullshit. My god he is flipping 2 buck stocks making a million a year don’t you think GS would pay him 20 x more if that’s true and only 27. I hope its all true but it’s not making sense. I would believe 250k but a million seems shocking and I have met a lot of amazing day traders in my time.

 

[PatrickQ]

that was what i was wondering ... why hire an niche CPA? the first thing that came to my mind was that they trade because they are getting other things from the market (ie excitement, status, etc.) ... brokerboy ... why would you think that everybody wants to be a trader at GS? i think that there is nothing better than working for yourself, at home ... but that is me.