What happened to the old traders
- Thread starter JPB
- Start date
Usually when small mom and pop retail traders like me got in, the trend reversed/stopped so we gave up trend following.
Been here, off and on, since '02. Don't post all that much, mostly just to hassle Surfer!
I remember a few of the long gone old guys. Anybody remember Hitman, Mr Subliminal, Longshot? Crazy mofos all...
Good trading to all.
Wow, did that bring back memories.
Hitman's journey was epic. And not just in trading, but in love (the Princess).
Remember Praetorian?
Another guy that posted here and not that long ago was Geez. He had a thread where he traded something like 4 basic setups. I traded with him in Robert Weinsteins chat room and he was the real deal. A good read for a newbie.
You got that right. Many of the old, just saying, were good when pits were still going and as they closed, markets became a tad more equal. Those who did spreads only as they had edges, more back testing done by others, edges fade away for any and others form using new technologies. "Bones" been trading spreads very long time and he still raking it in. Those who complain of HFT, how bout this, build your own? People who can't adapt, you think having a complaint going to help bottom line? Build your won Baby, that is what you have to do.
I think many traders been at the game long time just plainly get bored of it, you learn at some point, is this all there really was to reach whatever milestone you set for yourself? I love automation, toward end of manual trading, boredom reached a new low, face it at some point nothing is changing, markets are not acting weird, just have seen it some time in past. Only fun I still have left in me is designing scalping systems as learning now more math to solve recurring patterns I no longer can find. I have played the game very long time, it has never been work when you love doing the areas you enjoy.
I think having a very open mind, trend is your friend until you can exploit it and counter-trend way to go. Never add to a losing position till you learn to exploit it. Never not use protective stops, till you ARE like a piece of software. And you start thinking you are getting pretty good at this, your biggest losses are just around the corner, ROFLMAO-can laugh now......best to be humble and very thankful.
Pumpkin Lattes at Starbucks are backkkkk, but for me no fat or whip, aging is a bitch!
We can find new ones popping up here and there but they close quickly. So we little guys have to constantly search and adjust. There are just too many smart pros in this business.
Not very many. You've got two to three years to adjust.