Tbh "institutional" shouldn't be the ultimate destination of retail traders. What's wrong with staying "retail" and be independent and call your own shots? Why do you have to have to work for others as soon as you become good? Why can't you be the King of your own Kingdom and be free?? I always believe in carving out your own destiny and be your own man. I can help you but I don't work for you. That's always been my philosophy.
Who to listen to at ET?
- Thread starter Darc
- Start date
Tbh "institutional" shouldn't be the ultimate destination of retail traders. What's wrong with staying "retail" and be independent and call your own shots? Why do you have to have to work for others as soon as you become good? Why can't you be the King of your own Kingdom and be free?? I always believe in carving out your own destiny and be your own man. I can help you but I don't work for you. That's always been my philosophy.
The challenge for the newbie is that it's a jungle out there with multiple people, approaches and methodologies pulling in different directions. I know for a fact that there are people here who sound very savvy and smart, but in the end ain't successful as a trader. The newbie won't be able to make that distinction before it's too late and having wasted a lot of time and potentially money.
So, best to thread carefully.
To be honest, DBPhoenix always struck me as one of those guys who could masterfully annotate a chart and come across as a market wizard, but wasn't making any money from trading. Most likely a retired guy who was passing time.
Do you have reason to believe otherwise?
Yes. I'm not actively reading EliteTrader currently, so I haven't seen too many hints recently, but I've studied diligently in the past.
My favorite poster of all time is @Cheese. Man, I would have loved it to see him post again and compare some notes on the work I've done so far. I probably read all his posts 15 times and deciphered as much as I could from those hints and built my own predictive model which holds some promise. I learned far more from that than I have from any book.
Truth be told, as a retail trader on my own and with ET being my only outlet, I actually never saw any trustworthy track-record which hints of or show very lucrative success in the markets from any member here. Some will post P&L statements here and there, but that's not giving the whole picture. Other won't post anything. Or some will post their account history and it will be very negative. All honor to those who are transparent doing so. It takes courage.
So, at the end of the day I have no actual proof that anyone here is printing money.
That's why I urge anyone who's new to thread with caution and retain some skepticism when reading here.
I think looking at someone’s pnl as a metric for their value is a bad idea.
You should be looking at their content and determine if what they say makes sense.
At the end of the day trading is about taking in a bunch of data points and determining which ones are important and coming to the right conclusion.
A successful track record is a positive datapoint but not a necessary one for someone to have value. The best coaches in professional sports typically have played the sport competitively but weren’t the best players.
You should be looking at their content and determine if what they say makes sense.
At the end of the day trading is about taking in a bunch of data points and determining which ones are important and coming to the right conclusion.
A successful track record is a positive datapoint but not a necessary one for someone to have value. The best coaches in professional sports typically have played the sport competitively but weren’t the best players.
You should not be trying to listen to anyone.
You need to study and learn your own strategies
and systems, know how to analyze and choose
stocks, know when to enter and exit trades, know
all the other myriad things you need to know,
and be profitable on your own.
Not because of something you read on a forum.
Successful professional trading requires you to
be a leader.
Not a follower.
You need to study and learn your own strategies
and systems, know how to analyze and choose
stocks, know when to enter and exit trades, know
all the other myriad things you need to know,
and be profitable on your own.
Not because of something you read on a forum.
Successful professional trading requires you to
be a leader.
Not a follower.
True.
My concern, though, is that it's very easy to come across as sensible and speak good stuff on ET or elsewhere, but that this doesn't necessarily translate into profitable trading.
Trading, especially day trading, is to me a very marginal business which doesn't allow for a great deal of error. Yesterday and the following overnight session was a good example for myself where I got the big picture right, but still proceeded to lose money.
I can respect that analogy, but I think there are differences between sport and trading which might not make it completely comparable in the end.
Those sport coaches do get results, though. If there was a trading coach who actually had a track record of teaching people to trade successfully I wouldn't hesitate to sign up if he was available for me.
Sadly, I never heard of any such coach available to a retail trader which should be what we're discussing here as we're discussing who to listen to on EliteTrader which is geared towards the retail trader. For institutional trading I imagine it be quite different.
What say you?
True.
My concern, though, is that it's very easy to come across as sensible and speak good stuff on ET or elsewhere, but that this doesn't necessarily translate into profitable trading.
Trading, especially day trading, is to me a very marginal business which doesn't allow for a great deal of error. Yesterday and the following overnight session was a good example for myself where I got the big picture right, but still proceeded to lose money.
I can respect that analogy, but I think there are differences between sport and trading which might not make it completely comparable in the end.
Those sport coaches do get results, though. If there was a trading coach who actually had a track record of teaching people to trade successfully I wouldn't hesitate to sign up if he was available for me.
Sadly, I never heard of any such coach available to a retail trader which should be what we're discussing here as we're discussing who to listen to on EliteTrader which is geared towards the retail trader. For institutional trading I imagine it be quite different.
What say you?
1. I wouldn't pay for a trading coach.
2. Day trading has an extremely fast feedback loop. You will know who the charlitans are.
The best traders take bits and pieces of other people's ideas and synthesize them into their own ideas. No one is handed the "Wheel" and no one invents it from scratch.
can I get the 3 sentence version of destriero's career?
I blew up young, 9-5 isn't that bad in some careers and sometimes it was more fun than trading, try and be positive or it won't just be your hair that is your only health problem
It's non-existent. It's all made up. It's all fake.
Very true. Good of you that you enjoy your corporate job. Working in a corporate job has its positives. You have a sense of camaraderie, you get a lot of information and it's a lot of fun sometimes with those after-hour parties.