You are more likely to become a top Hollywood actor or popstar than profitable trader

[Went Fishing]

But, I don't want to become a top Hollywood actor or popstar....

http://souonecanobee.files.wordpress.com/2009/04/waa-cry-baby21.jpg

<*)))><

 

[coolweb]

Quote from Ghost of Cutten:

Asiaprop - from your posts, you didn't exactly seem like someone who could be trusted. So, I decided to set a little test for you. I sent you that PM as bait, to see if you would respect reasonable requests for privacy - I deliberately made it vague to see if you would negotiate in good faith or not (hence why I included no private info - I *knew* you'd be a bitch and post it). After all, if you couldn't keep a PM private, how can I trust you to keep my ID private when I later give it to you in order to sign the bet contract? All you've done by posting it is to show everyone that I was 100% correct to be concerned about you respecting other people's privacy.

So, I deliberately set you up to see if you would act like an honourable person and keep negotiations private, as someone legitimately interested in wagering $75k would. Needless to say, you fell for it hook, line, and sinker - you preferred to pass up the bet by publicly posting what you thought was private info, at the first opportunity, rather than enter into good faith negotiations to get the bet rolling and win your $75k. Try to be a bit less obvious next time.

This makes clear that you never had any intent of entering into, let alone sticking to the bet. If you disclose a *Private Message* immediately, despite a request not to do so, then for sure you cannot be trusted to keep identity private, and your mere verbal promise to do so has zero credibility.

Sorry, but you have been played like a violin. Firstly, I've outed you as an untrustworthy troll. Second, thanks to your reply, it's also now obvious to me you don't even trade for a living - because if you did, you would know it is impossible to separate daytrades from overnight trades if they are made in the same account (yes, that was another little trap I set - and another one you walked right into), as zdreg rightfully points out. In fact, I'm starting to wonder if you even trade at all?

you be one smart cat !

 

[coolweb]

Quote from zdreg:

anyone care to take a bet that $75000 will not change hands between those two.

of course by the time I put in my clauses to prevent collusion nothing will happen.

I will take that bet with you for $5 of spooz bucks

 

[coolweb]

1) If you understand the mechanics of trading, you will realize,
being profitable from a technical aspect on a long timeframe (weekly) is the same method as being profitable on a short timeframe(minutes).


2) The only difference is the risk/reward, A daytrader probably will be trading more, more trades, less reward, a little less risk. Of course you can be a profitable daytrader, that is without question. You can do much more then 20% daytrading. More like 200%++


3) Liquidity issues:
There are some people who would opt out of contiouslly daytrading, because daytrading has a "limit" on liquidity. To go over 5000 shares becomes your cap on 90% of the shares out there. When you make enough money you tend to want your complete trading capital in play, you can't daytrade it. Then you move onto a longer timeframe.

4) Daytraders focus on "inplay" stocks, these have liquidity cap issues of 5000 shares as well, trying to buy sell more then 5000 shares can get you a bad fill.




5) Idiot.
In the end, asiaprop = idiot who doesn't understand how trading works.

 

[asiaprop]

No deal, what is your real problem schizo? You can send me some name, some address and then when I try to contact you to verify the given name and address matches with someone at ET who claims such track record you get all agitated? Why is that? I mean you already gave your full name and address away? Your argument of privacy makes zero sense. People generally are much more weary about giving away their name and address than the phone number, but you seem to have completely different issues (and maybe agendas?).

Quote from schizo:

Obviously, this ain't going anywhere.

Alright, I'll tell you what. You choose any escrow service you prefer and relay that information (with your identity, of course) to me. I will then forward that to my lawyer, who in turn will contact the folks at the escrow service. Deal?

 

[asiaprop]

dude, you are going quite overboard making the same dumb assumptions than a whole bunch of other people.

a) I never got an MBA and never claimed so. I received a Master's in a technical discipline.

b) I never added more requirements. It just starts to strike me VERY ODD that you can send me your name and contact address but get all upset and mad when being asked for the phone number to verify your stated name and address. That is what I find funny.

c) The documents will be signed through lawyers at the escrow company. I invite you again to pick the escrow company of your choice so that you do not accuse me further of tilting the game in my favor.

d) Whether I work in the corporate world or not could not be less important for you. It really does not matter to you. Thus, I recommend you try not to make yourself look even more suspicious than you already sound with your phone number scare.

Lets be honest for a second, you have so far delivered NOTHING that could be verified. Anybody can send a fake name and made-up address. Please dont pretend you have done anything YET that requires action on my part.

Quote from schizo:

At this point, I don't even care about the money. Frankly, I made more than that last week. What I want is to track him down and see what kind of character this dude is made of. He obviuosly can't live up to his own bold claim that daytraders can't make money, let alone succeed.

Moreover, if he truly works at a hedge fund, he should know that the first thing you're taught in MBA is the importance of the contractual law. Surely, he doesn't expect me to be so ignorant to make a deal without a signed document. I'm beginning to think his claim that he works in the corporate world is just another outright lie.

 

[asiaprop]

really? Thats funny coming from someone apparently based in the country that shook the financial world just two years ago, and since then does nothing better than printing paper tigers and trying to bs the world in order to maintain its credibility to repay debt. A country where most consumers dont even know how to spell the word "savings" because every extra cent burns a hole into their pockets. Where government, businesses, and consumers are so deep in debt that the only way this machinery is kept going is by bullshitting the world into believing that the government and its citizens are actually good for their credit. Which collateral? Your marketing gimmicks and words? Sounds like to me that even a signed contract and promises mean nothing when the shit really starts hitting the fan, and it will eventually hit the fan. Lets count the score AFTER the debt is repaid.

Quote from ProfLogic:

You are dealing with the same mentality that allows total piracy of intellectual property in the whole of all the Southeast Asian Nations. Honor is something only the old generations hold near and dear. The young could care less.

 

[asiaprop]

You said in 2) that the only difference is the risk/reward. So, which has the higher risk reward? And if you claim that flattening positions intra-day will result in a more favorable risk/reward then please explain why not a single bank or hedge fund employs day traders, they should force all their traders to flatten the book before going home.

Could it be that the trading heads have not done their statistical homework while Coolweb, Schizo, and Ghost seem to precisely know that day trading spots higher risk/reward ratios than any other form of trading? (if those 3 figures dont think so then why do they pursue something that they think is subpar to other methods?).

P.S.: You are displaying your total lack of knowledge (as usual): Your 5000 share limit is a completely arbitrary number because it means NOTHING. It all depends on your traded notional vs. the notional volume that has been transacted. Any of your arguments in your post make ZERO sense.

Quote from coolweb:

1) If you understand the mechanics of trading, you will realize,
being profitable from a technical aspect on a long timeframe (weekly) is the same method as being profitable on a short timeframe(minutes).


2) The only difference is the risk/reward, A daytrader probably will be trading more, more trades, less reward, a little less risk. Of course you can be a profitable daytrader, that is without question. You can do much more then 20% daytrading. More like 200%++


3) Liquidity issues:
There are some people who would opt out of contiouslly daytrading, because daytrading has a "limit" on liquidity. To go over 5000 shares becomes your cap on 90% of the shares out there. When you make enough money you tend to want your complete trading capital in play, you can't daytrade it. Then you move onto a longer timeframe.

4) Daytraders focus on "inplay" stocks, these have liquidity cap issues of 5000 shares as well, trying to buy sell more then 5000 shares can get you a bad fill.




5) Idiot.
In the end, asiaprop = idiot who doesn't understand how trading works.

 

[Retief]

Quote from asiaprop:

really? Thats funny coming from someone apparently based in the country that shook the financial world just two years ago, and since then does nothing better than printing paper tigers and trying to bs the world in order to maintain its credibility to repay debt. A country where most consumers dont even know how to spell the word "savings" because every extra cent burns a hole into their pockets. Where government, businesses, and consumers are so deep in debt that the only way this machinery is kept going is by bullshitting the world into believing that the government and its citizens are actually good for their credit. Which collateral? Your marketing gimmicks and words? Sounds like to me that even a signed contract and promises mean nothing when the shit really starts hitting the fan, and it will eventually hit the fan. Lets count the score AFTER the debt is repaid.

Let's hear what country you're from you anonymous coward. Maybe instead of changing your username to asiaprick, you should change it to asiapussy.

 

[asiaprop]

Schizo/ Ghost,

could you please make up your mind whether you want to pursue this or not. I need your full contact information (including phone number) which we can handle in PM, as I have already done with Schizo's alleged real name and address. This is not adding anything to this bet but a necessary requirement for my own protection. I am the one who pays up in case I lose the bet, you guys stand to lose nothing. So I think its most reasonable to give me the chance to personally contact you to verify your identity. I am tired of arguing back and forth about something very obvious. If you cannot submit your contact info then say so clearly. But I am not willing to carry on with a pathetic debate about the exchange of the most basic contact information. I had time for this during the past weekend but I am too busy for this during the week.

Please CLEARLY state where you stand. Thanks.