xx
Quote from Mecro:
OK this I have to rip apart
"Take a breather here Bro. Wasn't try'n to piss you off.
However, it is getting to be more than tiring to click through
threads on ET having to wade through the bullshit posts
of whiners each day, complaining how *ucking bad market is,
has been, WILL be.. etc..."
Ok so it sounds like the current trading environment is great? Maybe that is what I should think. Maybe you should reread what I posted and notice that I believe that I am doing quite well considering the current trading conditions. Im not bitching about them but simply recognizing the fact that the current market is probably the worst trading environment in the past year.
"You would not believe how big my ignore list is for this site.
At the rate I'm going, I'm finding it hard to keep checking this
site for relevant information pertaining to trading...."
No offense but with your negative comments, I do not care whether you post.
"With that said. I MUST point out to you, and I think you would agree with this, unless you are in COMPLETE DENIAL of anyone out there
making any good money."
Can you read? Let me quote myself
"People are still making money, but well below what they were used to making over this past year. That means they are not doing that well relatively."
Yes there are guys in my office that are making good money, at least it is still good money to me. To them, relatively it is worse than how well they were doing 3 months ago. So somehow this equates to the same or better trading environment?
"From YOUR perspective, there aren't a n y traders out here making consistent profits? <----- Is this a correct paraphrased sentence?"
Quote me because I never said that. I did mention in other posts that some of the guys are actually having days where they made no money net and that is very out of their style.
"I snapped quickly at you before, because that is what was glaring me in the face, in your earlier statement."
What? Recognition that the market is not trading normally?
"Yes, I realize that there is piss-poor management at many a Prop firms throughout the Nation. However, that is not a direct function of the market my friend. Lets call a spade a spade here a recognize that any business poorly run in a *hitty economy is going to be in jeopardy regardless of its sector or industry. "
Dude WTF are you talking about?
"Now, with that said, back to my original reason for engaging you in dialogue in the first place. It wasn't to get you tee'd off.
You came across as a newbie to me and I don't mean that in any derogatory way. Simply to say that your experience thus far has been lackluster at best. Moreover, your witnessing of what in your opinion are Really good traders not performing well, or in fact sitting out the market days, etc.. is not exactly confidence inspiring."
Maybe we should just do simple average of how the top traders were doing 6 months ago and how they are doing now. Regardless, they are doing well in my eyes, but relatively to previous performance, they are not doing well. It's a simple truth and it is like this all across the world.
"So I can completely understand your skewed view of, "How *hitty market has been""
Skewed? It is in no way skewed. Maybe realistic.
"Ok, now for the reality check. I have never shared this openly with people here on ET because quite frankly I don't believe that more than
10% of the people who post here are True Daytraders. Let me further clarify- my operational definition of "True DT" One who trades solely for a living, relying only on daily trading profits to survive and eek out his/her existence.
I personally have worked with a gentlemen that starting in Oct. of last year, changed my entire perception of what it means to trade the market. I have trained under him and have personally watched him execute trade after trade in front of me day after freak'n live-long day.
I can count the days that he ended net negative for the day on two hands and still have fingers left over..
Each and everyday he derives a paycheck from the market.
It is possible, NOT EASY, but possible, as I witnessed him do it, many, many times in ANY market condition you can name, YES, even this one we are in now. Whereby, trading from opening whistle to closing bell, deriving 27-45pts. e-mini Nq each day ~avg. "
What are you trying to prove? I see this in the office everyday and it even happens with me. But unlike you, I can compare and notice how the market may trade differently due to insignificant factors like...oh let's say Iraq war and uncertainly, rebuilding of Iraq and so on.
"However, my point is not to demoralize you. My point is, even before I met him, sitting here behind my screens, breakeven to sometimes losing my ass, I never once told myself that this market is just too damn
difficult or etc.. In fact, to the contrary, I usually ended the day staring at the chart saying.... Man... someone made a killing today."
You really need to reread what I posted.
"Its simply a difference in viewing the world I guess.
To hear you explain and attempt to rally the crowd into commiserating
with you is just wasted energy in my opinion. "
Ok now you are really talking to the wrong person
"I doubt you'll take a step back and even consider what I'm telling you, but I'll take a chance on this trade and hope that telling you a little of what I've experienced will at the very least give you some inspiration to keep trying and either figure it out on your own, or seek out those with the knowledge of a lifetime-in trading to get you out of the starting gate.
in any case, have a great weekend.
peace-
momo"
I would consider what you said if you had even bothered to read what I said. I never came in and stated "god this market sucks" I actually put it in the positive note as a sign of my progress.
Ok maybe you refuse to recognize simple facts, but the current trading environment sucks. Forget 1999, just comparing it to 3 months ago, I see a difference in the way the stocks that we aim for trade. They are very sensitive to the S&P futures and they never used to be. That alone makes it a difficult trading environment.