Why do newbies lose?

ironchef said:
Thank you for the coaching. I generally agree but here is the thing:



Every good lier weaves some truths with their lies. You can still learn the truth from a lier if you apply your filter. Some on ET were exposed but I learned something reading their threads.


1. We are not here to teach you to be a millionaire. A few, like @taowave are willing to coach a little. I fondly remember others, like @sle, @Maverick74, @drcha... but they are no longer active.

2. No one on ET will share their secret source. But you don't want their secret source because it won't work for you. You want to learn their general approach, which most are willing to share. You use it to develop your own secret source. That was how I developed my option trades.

3. There are quite a few millionaire traders on ET:
Some are here to brag
Some for entertainment
Some for companionship
Some to pass time between trading.....

Like the other poster said, this is a journey we have to travel on our own, no one can do it for us.

Best wishes.
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Good Morning ironchef,

Bills due on first of the month.

I wish you know what I know.
 
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ironchef said:
We are not here to teach you to be a millionaire.

No one on ET will share their secret source.
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That seems to be correct.

ironchef said:
There are quite a few millionaire traders on ET...
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Honestly, when I first came to ET I was naive enough to believe that this board was swamped by wealthy traders. Yes, elite traders. It took me a while to realize that the board was in general swamped by the opposite type and it took me even longer to realize how marginal in numbers the few good traders on this site are. I can only speculate, but my impression is that there were more profitable traders participating on the boards in the past.

Anyway, among those millionaire traders I'd love to know how many started out with a retail background and a small account. My impression is that many of the successful traders here and elsewhere have an institutional background and/or were already quite wealthy when they started out trading such that they could fund an impressive account size and probably had a lot of savings in the bank.
 
I dont have problem with you in any way....

Im "simply" telling you that you are making a very difficult game next to impossible...





SimpleMeLike said:
Good Evening taowave,

If you commend me on my honesty, then what is the problem you have? Would you be more happier and content if I start lying like all other traders are doing and the lying trading theories for entertainment and sale?

I am not sure what you are seeking from me. Everything I said, I meant, and I was very simple, per username.
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It’s a game. Running a business is a lot harder.

It does take seriousness to play it well. But trading is a quintessential game.
 
Describe how trading is a business. You can start with, for example, what is the product or service you are providing? Who are your customers/clients?

Don’t joke and say you are providing liquidity as a service and your customers are the counterparties on the other side.
 
savoir said:
Describe how trading is a business. You can start with, for example, what is the product or service you are providing? Who are your customers/clients?

Don’t joke and say you are providing liquidity as a service and your customers are the counterparties on the other side.
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My products are stocks that I buy and hope to sell at a profit.
I look at the market each day and see if there might be what I preceive to be bargains.
I purchase them and then offer them at a higher price.
My products are stocks and my customers are those who want to invest in stocks.
Not unlike a speculator who finds any item at a bargain price and is willing to take the risk that there is someone out there who will pay a higher price.
Do I make a profit on all my trades? Of course not but I can always take a small loss and replace that product with one that has the possibility of being profitable.
 
taowave said:
Im "simply" telling you that you are making a very difficult game next to impossible...
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Good Morning taowave,

You have no proof of this statement. You are speaking per your theory knowledge. And trading theories with our proof of concept is a LIE.

So if you are saying "I am making a very difficult game next to impossible" without any proof of YOU showing me that YOU can make a trading game possible, then you lying to me. You do not have any proof of this. How do you know the trading game is impossible? Who told you this? Where is the stats of what you are talking about?

Do not tell me nothing, show me Everything.

Or state to me like this "In my opinion, without any proof of my opinion, you are making a very difficult game next to impossible.. but this is my own opinion of a game I still trying to make possible"

As I have said before, trading theories without proof concept is a Lie.

As I said before, I have stated my honest, I am reading on this thread is Theory, with zero proof of anything. Everybody just talking, per usual. Everybody lying.

I guess I will have to be first to show ET members what it looks like to trade large size ES contracts on a daily basis.

Ok, back to lying and bullshitting.

Once again with strong emphasis, trading theories is a lie. For example, trading the trend trading theory is a lie.
 
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