Why would a beginner need a large account?

[savoir]

I'm not sure the exact definition is important, but yes, it would seem natural to me to refer to anyone who's studying JH (or anyone else) as students of his teachings. As Jack is no longer around self-learners seems accurate, though.

I don’t think it’s only a matter of definition. You have to make a distinction between people who are selected to work with a person from the rest. I would call a student someone who worked personally with Jack, who had an agreement of understanding of responsibilities, and who was guaranteed against losses during the learning process. The rest are just people asking questions on a message board.

Oh, for sure, I'm not the one who's nosy about what other people make. Can't recall ever asking anyone in real life. But if I attended a meet-up dedicated to a specific trading methodology it's possible I'd be blunt enough to at least ask if anyone was making any money so far with said methodology. Trading is after all about making money - and the more the better.

If I showed up at a fitness conference and everyone was fat, it's possible I'd excuse myself and find the bar instead.

I’m glad to know it’s not just a generational thing. To continue with your fitness conference example, you wouldn’t need to ask an obese person directly because you see the answer in front of you. When you listen to someone talk (or read what he writes) about trading, it’s possible to discern without asking directly where the person is, whether he’s an expert and there is something to learn from that person. I consider it a good idea to rub elbows with people who are more skilled than you.

If anyone is curious about what I make or lose, I'm usually very transparent about it. This is because I like to brag when I'm doing well and I also like to keep myself humble and in check when I'm not. Also, I don't want to lead anyone on and make them think something which isn't true. Best to keep things honest. It can be therapeutical and even a relief.

What you are describing are your own personal issues. AGMs in Jack-speak. You are not helping yourself by raising the curtain to the public on your personal drama but providing entertainment. Like the obese person at the fitness conference, it is clear where you are without asking directly. The fatties who find your “transparency” valuable and applaud you are also easy to spot. Why don’t you do yourself a favor and be less entertaining.

 

[savoir]

I think that when you are discussing trading it would be quite common to ask what kind of returns other traders are experiencing. It doesn't have to be in dollar terms you can answer in percentage terms.
I wouldn't be too upset if someone asked if the returns were actual dollars of demo dollars.

I don't know what my actual returns are. Because I withdraw from my account when I need money I can't be bothered to do the calculations. I only know that they pay my expences and that my account size is growing year over year.

That may be your experience but it ain’t mine.

Before the availability of residential high-speed internet, I worked out of a trading office with other traders. Discussing performance was a daily occurrence within our small group. Outside of our group, why would we say anything? The office manager wanted to put out a list of daily “high scores” to inspire people. None of us thought it was a good idea.

Percentage returns on a trading account? Who cares. The money made at the end of the day was what mattered. $50K was the minimum to get into the place. Most of us had $500K to $1M. $125 per tick on NASDAQ stocks. The goal every day was to pull out a few sticks in our favorite names.

Demo dollars LOL. No just no.

 

[Laissez Faire]

The rest are just people asking questions on a message board.

Okay. Seems like that's the only option now.

When you listen to someone talk (or read what he writes) about trading, it’s possible to discern without asking directly where the person is, whether he’s an expert and there is something to learn from that person. I consider it a good idea to rub elbows with people who are more skilled than you.

Not if you're new to trading. That's why so many people spend years going in circles thinking they're learning something and experience what they perceive to be progress, only to realize years later it was a dead end. I've seen this from self-learners of various approaches and experienced it myself as well. That's why my initial advice on this thread was that most people are better off just forgetting about trading if they're trying to learn it on their own.

And even if you're experienced it's hard to discern if you don't know that persons results or can verify the claims or teachings on your own. At the end of the day successful trading is about trading (making trades), not philosophy, analysis or prediction.

Can you trade profitably day in and day out? That's all that matters. All the rest is just fluff.

What you are describing are your own personal issues. AGMs in Jack-speak. You are not helping yourself by raising the curtain to the public on your personal drama but providing entertainment. Like the obese person at the fitness conference, it is clear where you are without asking directly. The fatties who find your “transparency” valuable and applaud you are also easy to spot. Why don’t you do yourself a favor and be less entertaining.

I don't see myself as entertaining or nurturing any personal drama by being honest. As for where I am - feel free to let me know.

As there's so little shared about results on ET I may very well be far better than I grade myself.