SpreadProfessor's Advice for Newbies

Discussion in 'Educational Resources' started by bone, May 11, 2015.

  1. bone

    bone

    You do NOT need to hire anyone to help you find a trading strategy. You are at a curiosity and developmental stage - do not be vulnerable to hucksters and PM's. The second you post on ET looking for help you are going to be hustled. Spend $75 per month for delayed data and a charting package. Do not spend any other funds for anything at this point. Use multiple time frames. Experiment. Do not think that standard T/A studies will ultimately hold up over time and on a consistent basis.

    Believe what the market is telling you - ignore everything else you read or think.


    I do not take on newbies as clients so don't ask.

    A profitable trading strategy mimics the personality of the trader. Losing strategies are contaminated by imperfect emotions and human discretion. And there is no one correct strategy - for 100 profitable traders you will find 100 different strategies.

    If you require certainty - please go elsewhere. Trading is about probability and not certainty. Think Government job, teaching, accounting, .....

    The most profitable traders I have taken on as clients, and who have shared their backgrounds with me - just let me say, that for the most part their strategies were very streamlined. ( I hesitate to use the term "simplistic')

    Having said that, Yes - physicists and engineers and mathematicians can program profitable trading strategies. And at the same time, very simple rules can be just as profitable when devoid of human emotional contamination.

    Paper trade. Backtest. But when you paper trade, be brutal. Max drawdowns. Margin capital.

    Paper trading, when brutally honest and with all the metrics as the real thing, only lack emotion.

    Save your capital until you can't stand it any longer and you are absolutely certain.

    Do not start a thread or elicit advice on ET without expecting the PM's and hustling. It's a given.
     
    Last edited: May 11, 2015
    Autodidact likes this.
  2. 2rosy

    2rosy

    I am starting a newsletter on how to avoid hucksters and charlatans. Bimonthly subscription with rebate and affiliate programs. Together we can clean up this.
     
    stereo70 and tommcginnis like this.
  3. LOL
     
    taowave, NeoTrader and Jones75 like this.
  4. stereo70

    stereo70

    thanks for the heads-up. why don't you include some pictures, you condescending prick. joke.
     
  5. bone

    bone

    Curious souls who are at an introductory and developmental stage should not be hiring anyone. My premise stands.

    In terms of my own business model, I only take experienced traders, and clients who are willing to put in the work do well and become future references.

    For an experienced trader who wants to learn how to spread trade, and whom I meet with and screen, I would be happy to provide client references for them to contact independently. In fact, I was just contacted today by a client who informed me today that he snagged a job at an Investment Bank, and he offered to become a reference for a serious candidate.

    Trolls keep posting. Serious and experienced traders willing to work and put in the effort before risking live capital and wanting to learn how to spread contact me privately.

    Yes, if you are serious and you have the requisite background, I am happy to give you the client-turned-banker's email and introduction. Ask him anything you want.
     
    Last edited: May 19, 2015