Why not just educate yourself--- reliance on the government to protect you is the wrong road. That road leads to slavery.
surf
Who Is A Bad Trader?
- Thread starter Peter brandley
- Start date
Why not just educate yourself--- reliance on the government to protect you is the wrong road. That road leads to slavery.
surf
To trade or not is a choice. Every person on the planet has heard/read where a solid 90% will fail and fail big. The low entry required to give this game a whirl is the draw and indeed was intended that way in order for legit business persons to have a safe legit way to hedge some business costs. The "specs" large or small pikers have the stones to join in to keep the exchanges in business to support the business persons.
In all the small print when opening an account their is no clause that allows said person to complain because he/she flunked out. There are NO tests about IQ required, there are NO money-back clauses when you get your ass chewed up during the learning curve, there are NO complaint depts after losing your grocery money in a game of chance. There is NO clause that grants you losers the right to bitch in a public forum because others were far, far, far more successful.
I enjoy reading about how difficult futures trading or stocks, bonds etc can be. Those reads remind me of how it was years ago when I traded and had no idea what I was doing aside from guessing where price was going to go next....it was "TOUGH". It always will be a hard game. Who ever said a chance to make boat loads of cash was going to be easy? If it was so easy Hillary Clinton would have been in there slinging pork bellies around like a pro.
Face it you guys that complain, you just could not cut the mustard to be one of the 10% that gets the fruit from the 90%, the winners in a game of chance has always been those that FULLY know how to place a risk for a better reward without being cry-babies when they lose. Complaining that there is no fool proof guide or manual is just silly to the core..........The union dues to join the winning side are not cheap, they require a long and steep learning curve. Cut the mustard or just go away and seek something like becoming a lawyer, doctor, engineer, carpenter etc. Trading MUST be tough or else the 10% that win will not be rewarded enough.
PS: There is a canned letter response that the CFTC, SEC etc sends out when they receive complaints about some clown losing the grocery money.... It is a short and sweet response that says: Dear Joe Sixpack. In response to your letter, we tossed it around the office and chewed on it to give a proper and well thought out reply. Our office decided the best response to you is... "TOUGH SHIT"
In all the small print when opening an account their is no clause that allows said person to complain because he/she flunked out. There are NO tests about IQ required, there are NO money-back clauses when you get your ass chewed up during the learning curve, there are NO complaint depts after losing your grocery money in a game of chance. There is NO clause that grants you losers the right to bitch in a public forum because others were far, far, far more successful.
I enjoy reading about how difficult futures trading or stocks, bonds etc can be. Those reads remind me of how it was years ago when I traded and had no idea what I was doing aside from guessing where price was going to go next....it was "TOUGH". It always will be a hard game. Who ever said a chance to make boat loads of cash was going to be easy? If it was so easy Hillary Clinton would have been in there slinging pork bellies around like a pro.
Face it you guys that complain, you just could not cut the mustard to be one of the 10% that gets the fruit from the 90%, the winners in a game of chance has always been those that FULLY know how to place a risk for a better reward without being cry-babies when they lose. Complaining that there is no fool proof guide or manual is just silly to the core..........The union dues to join the winning side are not cheap, they require a long and steep learning curve. Cut the mustard or just go away and seek something like becoming a lawyer, doctor, engineer, carpenter etc. Trading MUST be tough or else the 10% that win will not be rewarded enough.
PS: There is a canned letter response that the CFTC, SEC etc sends out when they receive complaints about some clown losing the grocery money.... It is a short and sweet response that says: Dear Joe Sixpack. In response to your letter, we tossed it around the office and chewed on it to give a proper and well thought out reply. Our office decided the best response to you is... "TOUGH SHIT"
Quote from bighog:
To trade or not is a choice. Every person on the planet has heard/read where a solid 90% will fail and fail big. The low entry required to give this game a whirl is the draw and indeed was intended that way in order for legit business persons to have a safe legit way to hedge some business costs. The "specs" large or small pikers have the stones to join in to keep the exchanges in business to support the business persons.
In all the small print when opening an account their is no clause that allows said person to complain because he/she flunked out. There are NO tests about IQ required, there are NO money-back clauses when you get your ass chewed up during the learning curve, there are NO complaint depts after losing your grocery money in a game of chance. There is NO clause that grants you losers the right to bitch in a public forum because others were far, far, far more successful.
I enjoy reading about how difficult futures trading or stocks, bonds etc can be. Those reads remind me of how it was years ago when I traded and had no idea what I was doing aside from guessing where price was going to go next....it was "TOUGH". It always will be a hard game. Who ever said a chance to make boat loads of cash was going to be easy? If it was so easy Hillary Clinton would have been in there slinging pork bellies around like a pro.
Face it you guys that complain, you just could not cut the mustard to be one of the 10% that gets the fruit from the 90%, the winners in a game of chance has always been those that FULLY know how to place a risk for a better reward without being cry-babies when they lose. Complaining that there is no fool proof guide or manual is just silly to the core..........The union dues to join the winning side are not cheap, they require a long and steep learning curve. Cut the mustard or just go away and seek something like becoming a lawyer, doctor, engineer, carpenter etc. Trading MUST be tough or else the 10% that win will not be rewarded enough.
what if commissions were still rigged and it cost 100 dollars per round trip? what if there was no globex because special interests weren't interested in opening up the markets? what if specialists on the floor made sure any orders coming in were screwed?
now tell me about how you are not a product of transparency and progress in the markets because yes, people bitched and complained.
you are a fool because you are forgetting how you are able to even trade in the first place. if everybody just shut up and kept quite guess what? you wouldnt even be able to do what you do.
what if i bitch slapped your mom around and the cops turned away because women should just 'know their place' what if? but no, women complained so things changed.
so bite me. you're a moron.
Sure, I would agree with you there. Just like the disclaimer on cigarettes. It's there and then people can choose to proceed at their own risk.
Seems like people are fighting on here... I miss the days of AOL and the "real-time" investing chat room. I was a teenager trading penny stocks for a motorcycle at the time, and the battles made people spill their guts; which is what a trading message board is for.
Most traders fail to succeed because they want success too much. The squeeky wheel gets the greese, but not the profits.
If you think you're a tried and true expert then please allow me to long your naked puts of NFLX, (that sounds a little weird). Then again if Netflix disappeared my girlfriend would cry for 3 weeks, and she never watched "House of Cards". (No Netflix then she has to hear me talk about options).
I'm an idiot in the market's eyes, and I've been that way for 16 years, but I make money 3.64 out of 5 days a week trading SPY calls, and puts. (Long). I want to make money 4 out of 5 days per week so help me out.
I trade the open very well, but after about 11:30; I am just gambling for fun. Darvas boxes are my bread and butter, but afternoons seem like a long swing traders paradise lately. I am a day trader that occasionally lets a trade ride.
I really want a Hatteras so please tell me what I'm doing wrong. I made $8,966 this morning but gave 4K of it back trying to Put the afternoon. (It's not all my money; I got a few friends together that think I'm smart).
No direct question, but I hate when people tell other people what they are doing wrong, rather than what they are doing right. I think the SPY gaps up Monday morning, but I won't be trading until after the open.
Most traders fail to succeed because they want success too much. The squeeky wheel gets the greese, but not the profits.
If you think you're a tried and true expert then please allow me to long your naked puts of NFLX, (that sounds a little weird). Then again if Netflix disappeared my girlfriend would cry for 3 weeks, and she never watched "House of Cards". (No Netflix then she has to hear me talk about options).
I'm an idiot in the market's eyes, and I've been that way for 16 years, but I make money 3.64 out of 5 days a week trading SPY calls, and puts. (Long). I want to make money 4 out of 5 days per week so help me out.
I trade the open very well, but after about 11:30; I am just gambling for fun. Darvas boxes are my bread and butter, but afternoons seem like a long swing traders paradise lately. I am a day trader that occasionally lets a trade ride.
I really want a Hatteras so please tell me what I'm doing wrong. I made $8,966 this morning but gave 4K of it back trying to Put the afternoon. (It's not all my money; I got a few friends together that think I'm smart).
No direct question, but I hate when people tell other people what they are doing wrong, rather than what they are doing right. I think the SPY gaps up Monday morning, but I won't be trading until after the open.
Hahahaha....
well I have never lost a penny trading futures....
and I take full responsibility for that
I stopped studying daytrading because I didnt like it, but also because there was no one I could really trust about it
seriously, it seems like a shady business to be involved in.... lots of mythology but very few cold hard facts
well I have never lost a penny trading futures....
and I take full responsibility for that
I stopped studying daytrading because I didnt like it, but also because there was no one I could really trust about it
seriously, it seems like a shady business to be involved in.... lots of mythology but very few cold hard facts
It's amazing how quickly a thread started about traders flaws turned into a witch hunt for gurus somehow responsible for others failures.
An excellent demonstration of why exactly people fail at trading!
Also an excellent demonstration of complete ignorance... futures can be traded just like stocks. Futures price is not artificially calculated, it's driven as any auction-type market: by supply/demand. Heavily correlated and arbed with the underlying index, yes. But no way it's "calculated".
Learn your markets, then study your skills. Don't criticize anyone for teaching you "wrong way". If you are afraid of gurus, don't read anything except technical information about the market you trade. Just watch the inputs and learn.
An excellent demonstration of why exactly people fail at trading!
Also an excellent demonstration of complete ignorance... futures can be traded just like stocks. Futures price is not artificially calculated, it's driven as any auction-type market: by supply/demand. Heavily correlated and arbed with the underlying index, yes. But no way it's "calculated".
Learn your markets, then study your skills. Don't criticize anyone for teaching you "wrong way". If you are afraid of gurus, don't read anything except technical information about the market you trade. Just watch the inputs and learn.
Instead of calling people like Bighog, who really know something about the world's toughest trading games, such as day trading ES, morons, some of the thread participants would benefits to themselves much more of they just kept humble silence and listened, listened to every word such people say (or rather write as it's a text-based forum). Then maybe your chances to become consistent traders slightly increase.
Back into the woods here!
Back into the woods here!
You have no one to blame for your losses other than yourself.
"i have never generated any trading profits with the methods described in this program/method"
This phrase doesn't mean anything and it betrays not understanding what an edge really is.
At first I liked the idea of separating real traders from educators, but after thinking it better that doesn't stand.
For example one could require "I am a professional trader" on a book, but that doesn't stand either.
What about Niederhoffer, he wrote a book and the disclaimer should be something like "I am a professional trader and a hedge fund manager, I generated tons of profits with my method, well until the day I blew up the account and wiped all my clients money".
Or take Conway, his disclaimer "I am a professional trader with a proven strategy that generates profits, but beware I love fast cars and expensive restaurants so I may fish in my clients money instead of micro managing risk in front of a screen".
After all "trading is risky" is the best disclaimer you can get.
The heart of it is that it doesn't really matter where the ideas come from. Have you seen that film where the marketing manager struggles to find a slogan for a product and in the end the janitor suggests the best slogan of all?
Bottom line: you have to find your way. And good ideas can be found anywhere, it does not make sense to regulate the creativity.
I guess nobody more than me would like to see a naked Brooks dancing on a red-hot grill for I have been wanting more to smash my balls with a brick than going though another page of his books like a marine in the mud.
But after all he introduces the "wedge", the "pullback" and a bunch of other things seldom new. What there is to regulate?
There is a tale:
"I was a crackpot aqualung, drunk from dawn to sunset and back. One day I met an angel who told me to leave all my bad habits and embrace a healthy lifestyle. So I stopped drinking and smoking and started training until I became a calisthenics king. One day I read on the newspaper that she died of liver cancer as she was used to drink a half pint of whiskey every night before going to sleep. I shook my head and I headed out for my daily workout".
This phrase doesn't mean anything and it betrays not understanding what an edge really is.
At first I liked the idea of separating real traders from educators, but after thinking it better that doesn't stand.
For example one could require "I am a professional trader" on a book, but that doesn't stand either.
What about Niederhoffer, he wrote a book and the disclaimer should be something like "I am a professional trader and a hedge fund manager, I generated tons of profits with my method, well until the day I blew up the account and wiped all my clients money".
Or take Conway, his disclaimer "I am a professional trader with a proven strategy that generates profits, but beware I love fast cars and expensive restaurants so I may fish in my clients money instead of micro managing risk in front of a screen".
After all "trading is risky" is the best disclaimer you can get.
The heart of it is that it doesn't really matter where the ideas come from. Have you seen that film where the marketing manager struggles to find a slogan for a product and in the end the janitor suggests the best slogan of all?
Bottom line: you have to find your way. And good ideas can be found anywhere, it does not make sense to regulate the creativity.
I guess nobody more than me would like to see a naked Brooks dancing on a red-hot grill for I have been wanting more to smash my balls with a brick than going though another page of his books like a marine in the mud.
But after all he introduces the "wedge", the "pullback" and a bunch of other things seldom new. What there is to regulate?
There is a tale:
"I was a crackpot aqualung, drunk from dawn to sunset and back. One day I met an angel who told me to leave all my bad habits and embrace a healthy lifestyle. So I stopped drinking and smoking and started training until I became a calisthenics king. One day I read on the newspaper that she died of liver cancer as she was used to drink a half pint of whiskey every night before going to sleep. I shook my head and I headed out for my daily workout".