Where do the Top Traders Trade?

Quote from jmjatlanta:

Wow. Feel better?

While I disagree on some of your points, I have to say your post is well written.
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i do.
thank you.

but i'll be ripping the industry a new one on a regular basis.

just because the market goes up doesn't mean wall street is forgiven.

or that it's business as usual...

rb.
 
Quote from Mike Morrison:

Geez, I guess I got lucky.

I joined a chatroom about 8-9 years ago that is run by a great trader who also happens to be an honest no BS person. The room is very small, but has quite a few superstar types. All the traders are more than willing to help each other out and shares ideas, call thier trades, entries, exists, stops, etc. You can literally just follow them and do okay because I have and still do that. And these are guys who make high 6 and 7 figures.

The funny thing is, we don't have any special systems or secret indicators. It's mostly just knowledge and price action.

So, in my experience it is not true that top traders won't help to teach you. In fact, my experience is the really top guys are more than happy to help a new guy out so long as he listens and actually follows thier advice.

I'd mention the room but it's closed to new members.
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This is kind of true in fact.
There was a trader on T2W who had a free room for a while. He DID prove how successful he was with account statements/live calls/ and sometimes we could even see his trading program trading in front of our eyes through a chatroom which allowed us to see his screen. He has been trading for about 15 years.

He never charged a cent and always said "why would i charge anyone when i have the market to 'rip off'"

he doesn't do it anymore so i wont mention his name but im sure any t2w people know who i am referring too.
 
Quote from dirkd:

i'v been trading for 10 years now and have gotten my teeth kicked in several times. Several times I'v blown my account out. I wrote a book about my experiences as a trader and then when i was close to being finished with it, i thought to myself why should i share the knowledge it took me 10 years of getting kicked in the mouth for? When i first started my win% was less than 10% now im consistently above 75%. Out of all the traders that have wanted to "help me" i can count the sincere ones on 1 or 2 fingers. I found the only one you should count on is yourself. There is no easy path. But who knows maybe one day i'll publish my book. Good Luck.:cool:
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congratulations.
seriously.
kudos.
any trader who can sit down and admit, let alone recognise and analyse and learn from this experience, and then excel from it, is tops in my book.
email me a copy of your book. i'd love to read it.
rb.
 
Quote from TRYKtrading:

this thread just proves to me that the established prop trading system is fundamentally flawed, the imbalance leans towards the sungard assent "monopoly" in the bigger markets, and where the retail $25K four round trip trading rule is handcuffing the majority of new traders from getting to a sufficiently net profitable level to sustain being a full-time trader as a paying "job".

if "someone" were to come along with say, $100M in leveraged capital, pooled and risk-managed within a structured trading environment with established traders available for mentoring on a real-time basis, none of this remote trading crap, leave 'em high and dry to figure everything out for themselves, then "someone" would be on to something.

not sure who that "someone" is, but perhaps they'll just appear one day with a management team in place to handle all the compliance bullshit, so the traders can focus on what they do best.

and some people, like farmers trying to manage the future value of their crops, TO FEED PEOPLE AROUND THE WORLD and make a modest living in the process to EDUCATE their CHILDREN, could learn to manage their derivative risk without worrying about their brokers taking the other side of their positions.

these douchebags on here with thousands of posts naysaying anything out of the norm, anything that conflicts with their ideals, anything that challenges their integrity as bona fide "experts", perhaps they should set aside their massive egos inversely proportional to their limited vision (and lack of balls), and start working towards changing the system for the better so more people can learn how to become great traders instead of being constantly raped by the wall street illuminati insider trading on every trade in sight.

no one can convince me that the goldmans, the jpm's, the assents of this industry are all knee-deep in collusion, document forgery, insider trading, etc. to maintain their control on the commission trough. but they have a system to maintain. the idea of turning a street-smart college dropout from harlem with the math skills of a bobby fischer and teaching him how to trade the treasuries versus some brain-washed white boy from greenwich, ct, with a trust fund to conserve if he doesn't get into harvard, just goes to show how fucked up this country's priorities are.

i'd take the harlem kid over the harvard grad any day...

rb.
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Cliff's notes version-

"I opened an account at Assent, lost all my money, now I blame them and all of Wall st. for my failure".

The End.
 
now that's funny stuff. LOL.


Quote from Shreddog:

Dear CEO of Coca Cola,
I really want to become successful in the soft drink industry. I'd like your secret recipe, I'd be willing to give you a cut of my profits once I get going.
Wait, on second thought, that sounds kind of ridiculous, how about I just hang out in the factory to pick your brain, you don't have to give me the actual recipe.
Would that be OK?
Sincerely,
Pokerplaya

Isn't strange how people don't seem to grasp that trading is a business just like any other? And a successful business isn't about to give out their trade secrets.
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excellent post I lived on the street and decided to better my self and now am happily married with three kids I have been trading for 4 years and still haven't made consistant gains I am at basically break even.
 
Quote from Angrycat:

Great traders don't trade at these prop shops. They either have their own operations or they trade for existing trading companies. These prop shops are not in the business of trading and training traders. They are in the business of charging commissions.

If you really want to learn to trade well (and especially if you really are a poker player with a firm grasp of math and, particularly, probability), I recommend you check out real trading companies like Susquehanna International Group, Jane Street Capital (started and populated by mostly ex-SIG traders) and Bluefin Trading (a small but highly successful and growing firm). I'm in the New York area, so these are the firms I can recommend off the top of my head.
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i agree with this. i have never met a profitable manual electronic day trader in more than 15yrs. everyone i know trades spreads, options, or is automated.

if there is a manual electronic day trader in chicago I would like to meet you. PM me
 
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