She makes 2 points that resonates 1) You can have wonderful days day trading but in the current markets big money is made swing trading which confirms what Mark B Fisher had said. Listen after 17:14. http://www.elitetrader.com/et/index...trader-mbf-clearing-corp.299299/#post-4275143 2) Educators, bloggers/ vloggers would not be doing what they do if they could make $ trading. Following a Guru is a losing game. Listen after minute 40:00...
This is a very good interview for new traders to help them remember that: - Nobody knows nothin' - Do you own work - What anyone else knows or does is of little value to you - Markets and instruments will always change - There is no easy path - Master one small technique or process as a foundation
Day trading requires a specific skill set and mental makeup. Simply being famous and smart is not enough.
It's all about avoiding being a sucker. Use your brain and evolutionary skills for that. Define conjectures. Pay the tuition fees and improve on them. If one learn nothing from the various losses. He's doomed. The only wise in that game being the P&L. Listen to him. She said it herself. She learned nothing from other. But she had to test and listen to the wise. Only him can teach you what works. What doesn't work. Only feedback.
From the LBR site's Five Most Important Things: "#5 There is no such thing as a "master" trader or "elite" trader."
I am familiar with her background and respect her work however I understand that she was not a good electronic day trader.
I agree, Way too many people are looking for a magical bullet strategy or a Guru God...that will show them a pot of gold instantly -- doesn't work that way. First of all, most likely they're full of stuff...and second, you have to carve out your own path. ....true trading, or greatly successful trading...is really a deep journey of self-discovery and enlightenment.
Here is a Wall St titan Wall Street Warrior- Guy de Chimay, The Portfolio Manager (Hedge Fund Manager) oh wait he is not a titan just another fraudster http://www.bloomberg.com/news/artic...chimay-sentenced-to-3-to-9-years-for-fraud-1-