You guys blowing out your accounts left and right

sle said:
Oh, come on - the top traders are those who are directing 100s of millions or even billions in capital. They don't care about "Trading World Cup". You do know that this is not a sport, right?


That's a very very condensed version of the story :)
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Top has many meanings. And one of them (highly customized to your personal taste) is inside your own head. Traders who manage billions are institutional traders. They are told what to do with the money they manage by their managers. Lots of them, as soon as they're left on their own, don't know what to do. They are not top traders for me. A top trader for me is someone who can turn $1,000.00 into $2,000.00 in one year or less, time after time. Or $1,000,000.00 into $2,000,000.00. Quantity doesn't matter. Quality does.

Trading is a sport at the Trading World Cup. Because quantity doesn't matter. In order to win, you need performance. You make 1% of one billion in one year and you lose the cup. You make 200% of five thousand in one year and you win. That's about the intellectual sport. Not the quantity of money you manage.

Quantity doesn't make anyone the best. Quality does. You can build billions of 45HP 1340cc underpowered and noisy Harleys. They'll never win a quarter of mile next to a 200HP 1340cc Suzuki Hayabusa. You can build millions of F-150 trucks. They'll never outrun a single Lamborghini.

You seem to have lost your compass between quality and quantity, sle. Isolationism is not good for the brain. You need to catch up a bit with the world, man.

As for Xela, she was one of the most courteous and well educated posters here. I don't have time to read all her story in her posts, but I find it a bit strange that the had problems with the admin.
 
Neuroway said:
A top trader for me is someone who can turn $1,000.00 into $2,000.00 in one year or less, time after time. Or $1,000,000.00 into $2,000,000.00. Quantity doesn't matter. Quality does.
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Actually, in the long run it's quantity that matters. For example, the guy working at a local bodega is turning zero capital into $15 every hour. That's infinite return on capital yet I don't see many people envious of him.

Neuroway said:
You seem to have lost your compass between quality and quantity, sle.
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Dude, I never had a compass. My motto is "if you don't know where you're going, any road will get you there" :)
 
Reductio ad absurdum. The guy working at a local bodega is not a trader. He's a worker. We are talking here about the intellectual exercise of making money with money. I thought it was obvious.

Actually, in the long run, it's quantity that matters for you. Not for me. I always had a compass. Always knew where I was going and why. My motto is: "If you don't know where you're going, stay in your bed. Because once you hit the road, you realize that it's dirty, long, that there are dangerous curves, tough climbs and rainy days."

Actually, in the long run, it's quality that matters for me. And I don't need to live a thousand lives and die a thousand deaths to realize this.
 
Neuroway said:
As for Xela, she was one of the most courteous and well educated posters here. I find it a bit strange that the had problems with the admin.
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You do know she was a he, right? An unlicensed psychologist from Leeds. Her true CV's been posted, no impressive academic credentials to speak of. "She," and her multi-nick sock puppets, were banned (from ET and many other forums) for running a multi-forum fraud targeting the credulous.
 
Saltynuts said:
I've done a ton of reading on this forum, and one thing that strikes me as a bit odd is that so many people talk about blowing out their accounts left and right. Almost like its trendy or stylish to do so. Seems a bit odd to me, so I would appreciate some clarification on a few things.

When someone says they blew out their account, they mean it literally dropped to zero correct?

Assuming this is correct, your account goes to zero, presumably it could have gone below zero if the positions were not closed out quick enough. So when this happens, how often in the unrealted counterparty in the various trades in the account screwed out of getting the benefit of their size of the (likely favorable) trades?

Most importantly, is there some benefit you guys are getting trade wise to having multie smaller accounts and blowing out a few rather than just having one big one? Simple example. One $200k account holding 100k cash and selling 100k of market index atm put options. market tanks 50%. Presumably all 200k is wiped. if you had two separate accounts of 100k each only one is wiped. but couldnt you, in the 200k scenario just put rules into place that effectively make you get out of your put postion when you would otherwise have a margin call in a 100k account scenario and be wiped?

Thanks!
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I honestly believe, that there is not a single profitable trader on this forum.
 
Neuroway said:
You seem to have lost your compass between quality and quantity, sle. Isolationism is not good for the brain. You need to catch up a bit with the world, man.

As for Xela, she was one of the most courteous and well educated posters here. I don't have time to read all her story in her posts, but I find it a bit strange that the had problems with the admin.
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Merriam-Webster has a new definition for irony.
 
destriero said:
All of your posts are geared towards reinforcing your belief that since you've failed that it's a universal constant (failure). Your "opposite" threads, etc. Bro, get a job.
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Strange, everyone that responded to my I'll take the other side post lost money and I made money. I'm just stating my belief that there are no profitable traders on elite trader. If I'm wrong, there's a simple way you could prove it.
 
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