what id like to know about $$

[will_jay]

i was reading the "training section" in ET, and he said:

"If you want to have some fun, look at the performance of a successful market expert, one who is known for his or her market predictions and trading expertise. You will find that their performance numbers really aren’t any better than an average trading strategy. The percentage of profitable trades, the return on the account, average profit to average loss, number of losing trades in a row…all of these trading parameters are within the average trading strategy performance parameters"

so what im woundering is... if the experts arent all that better than the average, why do sum traders make BIG money, and sum are close to bankrupt ?? Does it depend on the firm they work for or something ??

 

[EMini-Player]

Perhaps they do much Larger SIZE. 2 ES pts per day is easily do-able, but doesn't sound like much on a 1 or 2-lot. But, do the same thing on a 50-100 lot and you're banking over a million a year.

-FastTrader

 

[Mecro]

Quote from will_jay:

i was reading the "training section" in ET, and he said:

"If you want to have some fun, look at the performance of a successful market expert, one who is known for his or her market predictions and trading expertise. You will find that their performance numbers really aren’t any better than an average trading strategy. The percentage of profitable trades, the return on the account, average profit to average loss, number of losing trades in a row…all of these trading parameters are within the average trading strategy performance parameters"

so what im woundering is... if the experts arent all that better than the average, why do sum traders make BIG money, and sum are close to bankrupt ?? Does it depend on the firm they work for or something ??

If you are talking about proprietary, I would say Experience, some natural skill and a little luck.

If you are talking about institutional, well thats a whole story about corporate America. Especially in times like these, you need some serious nepotism to get that job.

 

[T-REX]

Quote from will_jay:

i was reading the "training section" in ET, and he said:

"If you want to have some fun, look at the performance of a successful market expert, one who is known for his or her market predictions and trading expertise. You will find that their performance numbers really aren’t any better than an average trading strategy. The percentage of profitable trades, the return on the account, average profit to average loss, number of losing trades in a row…all of these trading parameters are within the average trading strategy performance parameters"

so what im woundering is... if the experts arent all that better than the average, why do sum traders make BIG money, and sum are close to bankrupt ?? Does it depend on the firm they work for or something ??

There is a BIG difference in a trader & an expert commentator.
I'd rather trade against Maria B. at CNBC than to go against George Soros. or compete in a scalping contest against Linda R.

I know I'd kick Mike Tyson's ASS in the NQ though.

........SEE THE DIFFERNCE!!!

 

[Grob109]

Quote from will_jay:

i was reading the "training section" in ET, and he said:

"If you want to have some fun, look at the performance of a successful market expert, one who is known for his or her market predictions and trading expertise. You will find that their performance numbers really aren’t any better than an average trading strategy. The percentage of profitable trades, the return on the account, average profit to average loss, number of losing trades in a row…all of these trading parameters are within the average trading strategy performance parameters"

so what im woundering is... if the experts arent all that better than the average, why do sum traders make BIG money, and sum are close to bankrupt ?? Does it depend on the firm they work for or something ??

The person you quoted hasn't grasp all the possible ways that money is extracted from the market. His snapshot only compares the places he has been and seen. They make up a part of the market that acts as foils to the others.

Go to some quality places like wizards and check out the "invitation only" world. There are a bunch of reasons why a lot of stuff doesn't rise to the surface. Often there is a knot head mentality on the part of people that serves as a warning signal to poeple who are well above what what is "average". Average is the croud of people you went to school with. average is not where the job gts done.