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tenthousandmen
Registered: Dec 2011
Posts: 728 |
04-15-12 12:42 AM
Quote from xdiesel123x:
This guy failed because he cant follow rules.
He said
this is my last post on this website; yet he is still posting
+100000
he needs to see a shrink. his posts smack of personality disorder.
its too bad people are so screwed up they cant even tell they need to take some humility and go see someone, even when their money, job, family and potentially wife/sons/daughters scream this real;ity to them every day.
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shopster
Registered: Jul 2011
Posts: 1479 |
05-02-12 01:01 AM
Quote from blowingup2012:
Before I start off, let me say up front this will be my last post to this website.
I came here today just to make this post..........
-1
s
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bwolinsky
Registered: Jul 2008
Posts: 4546 |
05-02-12 02:12 AM
Quote from blowingup2012:
Before I start off, let me say up front this will be my last post to this website. I came here today just to make this post.
The guy is so screwed up. This was his very first post, and, low and behold, he kept posting as if trying to discourage experienced traders is any better than discouraging newbies and inexperienced traders.
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Smoker
Registered: Jul 2006
Posts: 61 |
05-03-12 11:51 AM
Hi blowingup2012,
Well your post is one of the most depressing stories I have ever ran across on a trading site.
Quote from blowingup2012:
[B]Before I start off, let me say up front this will be my last post to this website. I came here today just to make this post.
My initial observation is you appear to have a real gambling problem since you don’t appear to have the will power to leave this thread alone so I doubt a 160 grand hit will be enough of a wake up call to convince you to leave the markets alone forever.
Most hardcore gambling/drug/alcohol addicts usually need to hit rock bottom before that moment of clarity and since you still own your business it appears you still have quite a way to fall.
The best advice anyone could give you is for you to take your own advice and turn your back “cold turkey” on all internet trading sites, buy T-Bills with your remaining cash and going forward use your intellectual resources and time only to develop your own business.
Quote from blowingup2012: [B] I actually had no idea what I was doing, but somehow I was making money.
It is one of the oldest stories in the land and a real trading clique but never confuse a bull market with skill.
Quote from blowingup2012: [B] Daytrading, prop trading, etc. is a sucker's game. You will either lose time, money or both.
With your gambling issues this observation is definitely true.
However with a more scientific non emotional approach you would have only lost an easily dealt with amount of money before coming to your current conclusion that you simply do not have to proper personal characteristics for success in trading.
I have dealt with this same issue in the past. I am a physics graduate who didn’t want to lecture but had my heart sent on being the next Paul Dirac or nothing.
After a few years of playing with equations looking for GR/QM unification I finally had to accept that I didn’t have the intellectual gifts or even the eccentricity to be a major league physicist so I changed career course and more or less dropped into trading and never looked back.
It hurts to give up your trading (or physics) dream but it is better to walk away into your own business than crawl away busted and broke.
Quote from blowingup2012: [B] Blogs, websites on trading, subscription sites, CNBC, Bloomberg, Jim Cramer, Yahoo message boards etc. Sites like TheSTREET.COM, etc. None of these sites will help your trading and will probably make it worse as it did mine. CNBC is full of excuses as to why the market moves everyday. Hey, they dont know. They are just guessing. Many of the so called "money managers" on CNBC are a bunch of crooks just trying to get your money.
I personally never watch the financial news of economic opinion etc but only watch the interesting regular news of tsunamis, wars, elections etc.
Financial news never tells you what is going to happen tomorrow and how much they have on and where they have taken positions to take advantage of their predictive skills but they only speculate about why they think what happened yesterday actually happened.
The problem is there isn’t any future trading idea that is going to appear while listening to that discussion.
Quote from blowingup2012: [B] #2) Get your "education" from popular well known trading books written by popular well known authors. Do not get your "education" from anywhere else.
Ok I will go out on a limb here and do some of my own speculation on the primary reason for the lack of trading success for posters such as your self.
In a nutshell: I think you guys are trying to get into the NBA without paying your dues in collage or even high school basket ball.
Most successful hedge fund guys have a trading pedigree behind them which means not trying to make it as a talented amateur but instead coming in on the ground floor and working their way up at a major financial institution. And not initially as prop traders but starting out in market making etc.
Personally I was an OTC FX/Metals interbank options market maker for a Canadian big five bank before jumping to the Merc floor to work for CRT and then jumping upstairs to risk run the volatility book for years. It was only after about 7 years of market making that I made the final jump into proprietary trading.
You appear to have started day trading as an amateur and then wonder why you can’t compete with the guys that cut their teeth market making for years at a financial institution letting someone else pay for their experience before making the transition into proprietary trading.
There are people that as amateurs with minimal professional trading and coaching win Olympic gold metals but the vast majority of World/Olympic champions are professionals with years of world class coaching and training before they enter the big leagues.
Anyway that is just my personal speculation.
All the best!
Warmest Regards, Smoker
PS if you keep trading as I expect you will as an addict then immediately get into a different trading arena i.e. no more outright day trading of equities but instead switch to long term or spread trading or just trade short side or trade futures etc. As long as it is different than what you did before there is a chance you will stumble on to some kind of edge.
I still would speculate that you have a 99% chance of continuing to lose but if you play in the same sandbox you did before you have a 100% chance of losing. Cheers Smoker
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greddy
Registered: Jul 2005
Posts: 145 |
05-12-12 03:31 PM
Quote from traderslair:
Exactly. For everybody thinking that Al Brooks is going to make you a profitable trader:
He has a live trading room and he calls only trades when they are already formed and they are already profitable. He says: "Oh I just took that xyz setup trade"
Be real. If this system is real there is no need to call out a trade only when it already showed it's a winner. If the system is real you call a trade when you place a trade. Al Brooks is a guru who makes money selling books and having a live trading room. He's not a good trader. He wants to be a guru.
I did a free trial of his trading room last week.
After the trial, there is no way I am going to
join the room.
The end of day analysis he posts in his website "after the fact"
is magically made to look a little more crisper in the analysis
compared to what he mentions "live". There is a subtle difference.
Listening live to his commentary astonished me because
of how vague he is. Comments like "you can buy here but
better to wait for the pullback" was the norm. And, if the
pull back does occur, "I don't like the way the signal bar
looks but you can buy it here". And trades that
he passed because the signal bar didn't look right often
would have been the best trades!
Another thing noted is that the direction of the market
he reads on the 5 min chart was wrong so often
that it wasn't funny. But then his commentary of" it can do
this but it can also do that" covers up that
shortcoming to his followers.
I have Al's original book. In the book, the analysis
is sharp as a Formula 1 driver. Precise entries,
wonderful analysis of various markets, and
aggressive entries off of support and resistance too.
Of course this is after the fact analysis. There is
some good information in the book.
His live commentaries, however, made me feel
like I was in a demolition car. Not sure which direction the
car was going at all.
Are there traders who can make good use of Al's books?
Sure. Can they trade like it says in the book? Perhaps.
Can Al trade like he writes in his own book?
I really doubt it.
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HurricaneUS
Registered: Aug 2008
Posts: 749 |
05-12-12 04:28 PM
Quote from greddy:
I did a free trial of his trading room last week.
After the trial, there is no way I am going to
join the room.
The end of day analysis he posts in his website "after the fact"
is magically made to look a little more crisper in the analysis
compared to what he mentions "live". There is a subtle difference.
Listening live to his commentary astonished me because
of how vague he is. Comments like "you can buy here but
better to wait for the pullback" was the norm. And, if the
pull back does occur, "I don't like the way the signal bar
looks but you can buy it here". And trades that
he passed because the signal bar didn't look right often
would have been the best trades!
Another thing noted is that the direction of the market
he reads on the 5 min chart was wrong so often
that it wasn't funny. But then his commentary of" it can do
this but it can also do that" covers up that
shortcoming to his followers.
I have Al's original book. In the book, the analysis
is sharp as a Formula 1 driver. Precise entries,
wonderful analysis of various markets, and
aggressive entries off of support and resistance too.
Of course this is after the fact analysis. There is
some good information in the book.
His live commentaries, however, made me feel
like I was in a demolition car. Not sure which direction the
car was going at all.
Are there traders who can make good use of Al's books?
Sure. Can they trade like it says in the book? Perhaps.
Can Al trade like he writes in his own book?
I really doubt it.
I've been saying all along that Al Brooks was a big fat joke and his star student NoDoji evidently blew up.....
You should post your experience here:
http://www.elitetrader.com/vb/showt...s&pagenumber=60
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