Why do newbies lose?

I think you really need to open your mind. Swimming coaches don’t usually win medals, for example. Many trading losers have good lessons from which everyone can learn.

Don’t you learn from your own mistakes even though you are a loser yourself? So should we listen to your lessons before you become a winning trader? Your thinking/logic is rather flawed. Fixing that you may start to improve in your trading. Lol

I benefited a lot from many trading books, good and bad ones. The key is the ability to discern between the two.
Good Evening Jzwu2017,

How are you doing today?

Please recommend me a day trading book(s) on the Futures market that will guarantee and promise me to make alot of money year to year for the next X to XX years.

Also please provide a 3rd party audit of the Author trading records from the futures market so I can review and approve before I spend the money for the trading book.

If you do not have a 3rd party audit of the Author trading records, please do not respond the with book.

Please do not recommend a book unless the records is above +$1 Million dollars.

Thank you,
 
How do you generate ideas?

Do you have a software program that can backtest your data analysis?? Yes.

Have you checked out Kullamagi,Minervini,David Ryan? No

If you havent made money,whats going to turn things around? Two things: Making money and recovering drawdown. Making a Million Dollars by end of the year 2024.
Good Evening taowave,

How are you doing tonight? Are you ready for the Colorado game tonight?

I responded to your comments in red

By the way, great questions.
 
I think you really need to open your mind. Swimming coaches don’t usually win medals, for example. Many trading losers have good lessons from which everyone can learn.

Don’t you learn from your own mistakes even though you are a loser yourself? Yes So should we listen to your lessons before you become a winning trader? No Your thinking/logic is rather flawed. Fixing that you may start to improve in your trading. Lol

I benefited a lot from many trading books, good and bad ones. The key is the ability to discern between the two.
Good Evening Jzwu2017,

How are you doing tonight? Are you ready for the Colorado game tonight?

I responded to your questions in red
 
I hope you are right.

You live in LA, so you know the drill:

For the past three months: Up at 5:30 am, turned on the monitor, prepared, be ready. At 6:30 am started to paper trade until the action died down or market closed. After market closed, looked at every trade and those I did not trade, compared real time decision vs after the fact. Made adjustments, continued to run analysis, collect statistics. Rinse and repeat, five days a week. It is almost 24/7.

However, I am not complaining because it seems to be working but it is only on paper. In a few more months when I go live will it still work? I don't know.

Paper trading, without taking into account market makers...Could you be fooling yourself?? Just asking...
 
I hope you are right.

You live in LA, so you know the drill:

For the past three months: Up at 5:30 am, turned on the monitor, prepared, be ready. At 6:30 am started to paper trade until the action died down or market closed. After market closed, looked at every trade and those I did not trade, compared real time decision vs after the fact. Made adjustments, continued to run analysis, collect statistics. Rinse and repeat, five days a week. It is almost 24/7.

However, I am not complaining because it seems to be working but it is only on paper. In a few more months when I go live will it still work? I don't know.
Right about what? I said it’s not for everyone. But if you’re already monitoring the stock market daily, I think it’s a natural extension to trade index futures short-term.

You should experience the trading hours from Hawaii. You don’t know how good you have it here.

The schedule doesn’t bother me. I monitor from Sunday open to Friday close. Usually have on at least one position in one of the accounts. If I trade the ON session I will skip the AM and sleep in. In 2020 and 2021 I did that regularly. Nowadays not so much.

Paper trading is not something I would do. $5 per point for micro ES is pretty cheap. Regardless, good luck when you go live.
 
Paper trading, without taking into account market makers...Could you be fooling yourself?? Just asking...
Thanks for asking. Good question, yes I could be fooling myself.

I will find out in a couple of months. I do real time demo so in general I think it should reflect more or less what I should get in real trades except for the bid/ask spread (I use ask for buy and bid for sell) and time lags in real execution.

Day trading is very different from options. When I trade options, I look for reward/risk of >10. In day trading, the difference between buy and sell is ~ +1% (often much less) if I am lucky.
 
I'm not referring to a MF head trader. Fido? Please.

I am talking about a group of pros. Not one former mutual fund desk head selling sht to noobs.

One of the biggest forms of ignorance is when one rejects something they don't know anything about. :caution:

I don’t have the need to be right.

Good luck with your $40K per candidate Oct-seminar. :)
 
An interesting perspective of Robert Greene on Mastery & Boredom;

On December 11, 2021, I picked Robert Greene up from the airport, and we drove forty-five minutes to Bastrop, TX.

At one point, Robert told me he’s had more than 20 research assistants since Ryan Holiday and none have been any good.

Why weren’t they any good? I asked.

He said,

“Some didn’t grasp the spirit of the material I look for. Some couldn’t discern what's interesting from what isn't. Some melted like an ice cube in the sun at the first piece of constructive criticism. Some...”

He paused here and thought.

As he was thinking, I understood the implication was that those first three reasons didn't really cut to the core of his troubles with research assistants.

“Without exception,” Robert realized, “they weren’t interested in boredom. It’s a dividing line between people who are successful and people who are not.”

Takeaway 1:

Mastery, Robert said, requires boredom and tedium.

It requires doing the same things over and over and over.

It requires sitting with the frustration of putting in work that doesn't immediately pay off.

It requires sitting with the uncertainty of, am I going to spend sixteen hours reading this biography only to discover there’s nothing in it I can use?

You have to be able to sit with boredom, Robert said.

Takeaway 2:

In another conversation, Robert told me he believes one of the reasons people struggle to sit with boredom is that they have a false idea about the word “creativity.”

“People have all sorts of illusions about the word that aren’t the reality,” he said.

“The reality is that creativity is a function of the previous work you put in. If you put a lot of hours into thinking and researching and reading, hour after hour—a very tedious process—creativity will come to you…It comes to you, but only after hours and hours of tedious work.”

I like this definition because it means creativity is not some mysterious form of magic. It’s something that is rewarded to those who put in hours and hours of boring, tedious work.

- - -

“One sign that you're suited for some kind of work is when you like even the parts that other people find tedious.” — Paul Graham

https://www.twitter.com/bpoppenheimer/status/1702719945824469145?s=46&t=RtbvMjSZB-E4IMCIlJrlWA

I've had many losers...I have documented here on these forums.

I am wondering what you call the below...Intuition, business insight, patience from years of experience, luck, business acuity??

The Boeing 737 MAX passenger airliner was grounded worldwide between March 2019 and December 2020 – longer in many jurisdictions – after 346 people died in two crashes: Lion Air Flight 610 on October 29, 2018 and Ethiopian Airlines Flight 302 on March 10, 2019. The U.S. Federal Aviation Administration (FAA) resisted grounding the aircraft until March 13, 2019, when it received evidence of accident similarities. By then, 51 other regulators had already grounded the plane,[3] and by March 18, 2019, all 387 of the aircraft in service were grounded.

I bought 100 shares of Boeing a few days after the grounding...Did a leap very close to the purchase price. Just wanted the time decay premium...Believing they would find the problem. Yet, I was not 100% sure...

When Apple hovers around $120. (and people will NOT give up their phones or watches), I buy 100 shares.

When Google and Amazon drops below $100. I buy 100 shares each.

With all of the above I did options. I saw great value in these companies. I could have easily been wrong...AOL, MySpace.

Just me, I believe the AOLs, GM (2008), prepared me for the future winners later...

PS And no, I did not buy AOL...But I did own GM!!
 
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An interesting perspective of Robert Greene on Mastery & Boredom;

On December 11, 2021, I picked Robert Greene up from the airport, and we drove forty-five minutes to Bastrop, TX.

At one point, Robert told me he’s had more than 20 research assistants since Ryan Holiday and none have been any good.

Why weren’t they any good? I asked.

He said,

“Some didn’t grasp the spirit of the material I look for. Some couldn’t discern what's interesting from what isn't. Some melted like an ice cube in the sun at the first piece of constructive criticism. Some...”

He paused here and thought.

As he was thinking, I understood the implication was that those first three reasons didn't really cut to the core of his troubles with research assistants.

“Without exception,” Robert realized, “they weren’t interested in boredom. It’s a dividing line between people who are successful and people who are not.”

Takeaway 1:

Mastery, Robert said, requires boredom and tedium.

It requires doing the same things over and over and over.

It requires sitting with the frustration of putting in work that doesn't immediately pay off.

It requires sitting with the uncertainty of, am I going to spend sixteen hours reading this biography only to discover there’s nothing in it I can use?

You have to be able to sit with boredom, Robert said.

Takeaway 2:

In another conversation, Robert told me he believes one of the reasons people struggle to sit with boredom is that they have a false idea about the word “creativity.”

“People have all sorts of illusions about the word that aren’t the reality,” he said.

“The reality is that creativity is a function of the previous work you put in. If you put a lot of hours into thinking and researching and reading, hour after hour—a very tedious process—creativity will come to you…It comes to you, but only after hours and hours of tedious work.”

I like this definition because it means creativity is not some mysterious form of magic. It’s something that is rewarded to those who put in hours and hours of boring, tedious work.

- - -

“One sign that you're suited for some kind of work is when you like even the parts that other people find tedious.” — Paul Graham

https://www.twitter.com/bpoppenheimer/status/1702719945824469145?s=46&t=RtbvMjSZB-E4IMCIlJrlWA

Very interesting.Thanks,.
 
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