why this board isn't healthy if you trade for a living
- Thread starter akdrmeb
- Start date
That's the thing, some expert says "5 pt stops, omg!!"... meaningless, it needs a context, how long will the typical trade last, is the system one with a few winners but they are big, or a lot of small winners, or for that matter maybe even a lot of big winners..
I think the poster was expressing disdain for very short term trades likely... always a joy to see that on ET..
Quote from ByLoSellHi:
Most 'traders' will ultimately end up bankrupt if they don't have a real job or sizeable trust fund to finance the black hole.
This is why manic-depressives are attracted to trading. It helps feed their addictive mania-suicidal psychological roller coaster ride - make a killing, lose it all then some, want to die - repeat, wash, rinse.
People like Zanger are in the 0.008% of statistical outliers. They made a killing at a rare moment, where anyone could have, realized this, took their chips off the table, and are living off the interest now, probably only ever dedicating less than 5% to the markets of what they won in that lottery.
The 'real' traders are the ones who get paid to trade OPM, and work at the desks of Goldman or UBS, and lose clients' money day after day, year after year, but still make buku $$$.
You can find them in the 'Private Wealth Management' divisions.
They are experts in turning large fortunes into small ones.
excellent points! everybody should read this post.
The General
Guest
SusanaDT-
I beg to differ with you.
When people post their thoughts it is usually in relation to their own experiences.
To post negative thoughts implies that the poster has had negative experiences-or-not successful at trading.
If people listen to such rubbish then they will also end up in the same boat.
Now-Ken is a small time trader by his own admission-and if he is not the real Ken-I can tell you now that the real Ken is even a smaller time trader.
His so called "Professional Trading Techniques" are nothing short of "Professional Marketing"-this is known to all of us that trade the markets for many years.
To think that an entry is good above / below an even number, at an arbitrary number of 30/35 cent-is nothing short of ridiculous. And then-add in slow stochastics-another fable-and this person shows that he knows absolutely nothing about trading.
Not to mention the famous 2 day x 2 min cup and handle formation-need I repeat myself.
Close your eyes and you will not see anything-open them and you have a chance of seeing great things.
The General
The General
Guest
Quote from ByLoSellHi:
Most 'traders' will ultimately end up bankrupt if they don't have a real job or sizeable trust fund to finance the black hole.
This is why manic-depressives are attracted to trading. It helps feed their addictive mania-suicidal psychological roller coaster ride - make a killing, lose it all then some, want to die - repeat, wash, rinse.
People like Zanger are in the 0.008% of statistical outliers. They made a killing at a rare moment, where anyone could have, realized this, took their chips off the table, and are living off the interest now, probably only ever dedicating less than 5% to the markets of what they won in that lottery.
The 'real' traders are the ones who get paid to trade OPM, and work at the desks of Goldman or UBS, and lose clients' money day after day, year after year, but still make buku $$$.
You can find them in the 'Private Wealth Management' divisions.
They are experts in turning large fortunes into small ones.
Another negative statement-no wonder very few traders can't place wining trades.
It matter not what the Golden Sacks do-all that matters for the individual trader is what that trader will do.
As for Zanger-never heard of him nor have I any intention of finding out anything about him-he will not make money for me.
What you people must realize is that to make money trading is as simple as ABC-or- 123.
There is no need to predict the future-as it is impossible to do anyway. The only person who reputably ever came close to doing so was a man by the name of Edgar Evans Cayce-born in 1877-died in 1945.
Guess what-even he was wrong.
The General
Reading your posts makes me wonder why do you keep coming to this site, ByLoSellHi? It's clear that you don't believe that money can be made from trading or markets as a whole and you keep posting one doom&gloom article after another. Seeing that you have more than eight thousand posts to your name just does not make any sense to me... You could spend your time pushing some worthy humanitarian cause instead of wasting your time here.
There are some really screwed up people that post an awful lot, and start a lot of threads on this site. This led me to study personality disorders, wikipedia is fine for that, they definitions are there and clear. I don't try to distance diagnose people but the general idea that there are a large and growing number of people out there with major brain and personality problems is a good thing to keep in mind. I researched the idea of factory farmed food vs brain nutrition loss and was really surprised. That is a big part of our problems nowadays.. I hit every supplement I can find that is for the brain and take a nootropic or three or four and really, it's one of the best things I ever did....
Sry, but IMO, this is not true. I don't know any trader that is profitable (in a consistant way) / trade for a living... in one word: professional. Who will take money from somebody else to learn how to trade. Its against the pshicology of professional trader. Very often this category of traders, don't put money in first place, i mean, for them, money is just a 'tool' to live their life. So if they want to learn someone to trade, he don't ask for money, the pro trader enjoy to help that begginer trader for FREE.
But for a "trader" who barely make any money, then yes, for them is ok to take money for sharing their knowledge. But also their knowledge is poor.
Also, when you succeed, you don't have very much time for surf the forums like this and even more important you don't want to share your experience and I think that this come from a subconscious level because trading is just boring, almost like a normal job, its normal. You are not fascinated anymore about this.
So, when I see someone who say: "I'm a pro. trader and I want to couch some begginers for a xxx$ per month..." then, for me, that "trader" is just a snake oil salesman.
And I'm saying this because... I'm considering myself a pro. trader, (I made a lot of mistakes but I learned from them and I know how hard is trading, it was a very long and painfull journey) and my conclusion is that when you reach some levels in experience, and you KNOW how to control your RISK, then you know that you can [trade for a living] and all this BS that saying smth like : " you can't make money from trading in the long-term" is fals!
So, if you can make money in the long term, then you don't need to waste your time trying to sell some books,cd's,seminars,etc. to make money.
just my opinion. English is my second language, sry. Have a nice day.