If said text return doesn’t show the pnl and instead only shows the gross proceeds, what’s the point of showing a 1099?
which youtube "traders" are legit?
- Thread starter mute9003
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If said text return doesn’t show the pnl and instead only shows the gross proceeds, what’s the point of showing a 1099?
First of all - nobody said you can see on a chart what institutions and big players do, so that's a strawman argument. But your view then is that a trader have to see what institutions and big players do in order to succeed. Is that really true?
Arguably, the only thing a directional trader needs is price change, i.e., price moving from A to B. For whatever reason. It's irrelevant why price moves from A to B as long as you can buy at A and sell at B. If youi can spin a story on why it happened or explain it, no harm done and it may increase your confidence level, but is it really necessary?
Simplistically, then. Can a chart, naked or with indicators, show/signal when/where price is about to change?
Personally, I think yes. But I also think there's more to know about a market than can simply be seen on a chart and other ways to perceive the market which lets you see more, so we may not be in (complete) disagreement after all.
Thank you!
I've been recommended this multiple times, but didn't get to it as the amount of episodes was overwhelming, but I finally took the plunge and listened to the interview by Lance Breitstein. It was both motivating and discouraging.
This guy was considering giving up as he was still not making it after a long time And that was as I understood it working full-time with a prop firm and having direct access to a legendary trader as his mentor and I assume backing of capital + a base salary.
He eventually became very successful, but it makes you wonder what chances a retail trader completely on his own truly have when even a smart guy within that kind of framework/support almost gave up.
That’s an awesome interview and a must watch. What I like about YouTube is that, even though there’s a lot of crap, there’s lots of content by real traders with good credentials. It’s the closest you can get to a prop firm experience without being in a prop firm.
If you do just one thing as a trader, especially, if you are just learning to trade or invest, follow the trend. Do not fight it. The trend is your friend. That is a maxim in Wall Street that you should live by. The reason is obvious. Who sets the trend in any stock? It is not the retail traders. The big boys (hedge funds, mutual funds, banks and brokers) all trade the stockmarket. If they are getting into and buying a stock, will the stock price go higher or lower? Conversely, if the big boys are dumping a stock for whatever reason, will that stock go higher or lower? Just plain common sense. Now, create a trading system that follows the trend. Your chances of success is now, that much higher. So, your trades or investments should be aligned with the major trend. Just my 2 cents. There are ET traders who do not believe in trends. That is their problem.
What I like the most of these podcasts is not only the interview itself but the specific words and concepts that they talk about, that lead me to look for certain subjects in books. My background is purely coming from software development and I lack of a good foundation in finance. These guys talk in plain English about where we should look at. Also Aaron, the host, is a self-taught trader, so the way he asks the questions let pretty much everyone to join the guest without getting into too much technical ground.
Yeah. There's quite a few episodes, though. Anyone particular you'd recommend? Seems like there's a lot of equities traders there. A bit less on futures, but I only skimmed the TOC quickly.
Currently listening to Kristjan Kullamagi which is a quite good episode, too.
Fintwit and CT is better. Calls are documented and easily searchable. The better ones do not delete tweets. Some attempt to funnel into paid rooms, others make a stand of paying-it-forward and do not charge. Some of the best have under 10k followers.
Chat with Traders is fun to listen to and to get a broader perspective of folks in the industry. I mostly listen through spotify, it doesn't have as annoying ads and avoid yet another subscription through youtube.