If someone can't discern good advice from bad, then they probably won't make it out alive in the markets anyways. Not to say that smarts is a certainty for success in this game, tons of smart people fail. I always thought losses were the best teacher in the markets.
The sheer absurdity of this comment has been haunting me all day. A year or so ago (when I had far less experience than I have now), I was generating the equivalent of $50,000 to $100,000 annually, and this is somehow a bad thing that should convince others to ignore my posts regarding common price action strategies??? You are absolutely correct about every trader having to find their own way. If Iâd have taken the advice of experienced traders early on, Iâd have saved myself many losses, and attained consistent profitability much sooner. But I had to find my own way, and I did, and I, like those who tried so patiently to guide me and save me from myself, tried to advise other struggling traders I see making many of the needless mistakes I made over and over again. You are very correct on both counts. You shouldnât feel embarrassed when people you donât even know find value in something posted by another person you donât even know. Be happy that you have a solid trading system, years of experience, and can separate valuable information from useless, or even dangerous, information (âOnly amateurs use stopsâ being one of my all-time favorites here). I donât recall ever giving anyone advice that would be dangerous if followed. I advocate the use of reasonable stops, letting winners run to target, reversing sides if a new setup overrides the validity of the original setup, trading small enough size that a black swan event leaves you with the majority of your trading account intact. I also advocate at least three months of consistent sim trading before going live. Though I may have been excited about certain trades or results, Iâve never been boastful. Thatâs one of a few reasons I no longer post my trading results. Anyone who's read through ET's P/L threads knows that it's possible to make consistent profits week after week (Red_Ink), and that it's possible in a relatively short period of time to go from being a nervous beginner trading piker size to someone who generates a seven-figure income (Szeven). That's the "Yes, it can be done" of trading. What I've been working to contribute here is one of many reliable methods of doing it. You have no idea if I even trade, much less what size I trade and what kind of profit or loss I generate if I do. Considering that very early in the development of my current trading plan (I began the research and development for this plan in late May of last year), I was consistently generating daily profit of â$200 to $600 a dayâ (this is actually pretty accurate) trading a single contract (Schizo gave me some very sound sizing advice back then), and considering I could hand you my finalized written trading plan with fixed rules for every setup and how to trade them, and you could generate at least $600/contract each day if you followed the plan exactly, weâll just have to agree to disagree regarding your comment above. Iâve had many questions and have asked them, both on threads here and via PMâs. Some have ignored my questions, some have acknowledged them and refused to answer, some have provided very detailed answers. Those in the last group know who you are and Iâm immensely thankful to you. Your suspicion is unfounded. Iâve never charged anyone for anything related to trading (and several who asked me for help offered to pay for it). I spend significant time providing detailed answers to questions and offering one-on-one Skype sessions to answer questions and discuss strategies. Iâve done this with around 20 ET members and asked for nothing in return, because with a consistently profitable trading system, thereâs nothing I need in return. Something I do need, though, is time to pursue several projects that have been on the back burner during my years of learning to trade. On that note, Iâll let my not-quite-7000th post be my last. Neke, the easy moneyâs found in the direction of the trend; Iâm hoping you killed it with NFLX today, and that you exceed all your trading goals. As for the motley crew Iâve been Skyping with, feel free to bother me if you see me online. Itâs the least I can do after all the money you paid me.
NoDoji, don't take what these guys say to heart. The fact that these guys took the time to hate on you means that you have a significant enough presence that they felt the need to try take you down a peg or two. Even if you did say you made $2000-5000 a day, do you think they would congratulate you? They'd most likely accuse you of lying. You can't win. Haters gonna hate. I, for one, have valued your posts and you even took the time to personally PM me one time, which I appreciated a great deal.
Weres robert weinstein the guru who reminds me of neke. The dude would make 2-3k a day for a week then in one swoop lose it all. he even admitted he'd have made more at mcd's in 2008-2010 than trading yet i see he still has a chat room and charges for some things and is on alpha site doing articles. and this is from a guy who's made little if any ever trading. i know no doji was in his chat room at one time.
That is honest and humble. Thank you. It affronts the dignity of this profession when newbies latch onto a "guru" because they don't want to take responsibility for their own thinking and development. It is embarrassing to those of us with the passion and drive to really work at this business (that includes you btw) to have the false, insincere, non thinking guru-worshippers treat you, me, or anyone else as the great sage who has all the answers. They have completely missed the point. There are really experienced sagacious traders-that doesn't apply to you just because you have shared your journey and made some helpful posts. I'm sure you don't like the crown being forced on your head either. I think that is true - some of the advice given by others is truly irresponsible. I can see that you're not in the seven figure league yet, no matter how much your fan club may wish to believe otherwise. That is just a judgement based on my experience - which to be honest isn't that considerable when compared to 10, 20 and 30+ year veterans. No agreeing to disagree. 60 ticks per day in CL is certainly possible. Same in Euro futures, and most days NQ/YM too. However I'll say that you don't make 60 ticks per day each day in CL on 10 lots. I'm in one of those groups if I remember If this is the case, then kudos to you. I've great respect for those who are willing to help others. Even more so if these people are deserving of help and show capacity to benefit. What my post was getting at is that this guru reputation you have acquired is unfounded - and does a disservice to your followers. I'm sure you haven't asked for this, probably discourage it, and perhaps it does cause you a little embarrassment when they go overboard about you. I have helped quite a few traders - to the extent I can with the limited success I've achieved so far. I'm very selective and am pleased that some interesting individuals have been able to chat with me and learn to ask the right questions. I wouldn't dream of talking strategy, setups, or teaching someone how to actually trade (if indeed this can be taught)....so I can relate. I can relate. At the end of my first three years in trading I hadn't gone outside for months at a time, was becoming in pretty poor physical shape, and hadn't spoken to anyone other than delivery people for weeks on end. Plenty was neglected. There are sacrifices. I know on bulletin boards it is common to have more final appearances than Cher, however I trust that you are sincere and wish you continued success in your trading and other endeavours.
You know what, I bought 10 (yes all of 10!) JUL 280 CALL contracts @7.50, as it wasn't a core trade, it fell under the umbrella of "experimental" trades, hence the puny size - my system would not allow me to take size on experimental trades. Quickly got out @ 9.20 (net 1.7K), leaving oodles of cash on the table (so hard to get a contrarian to sit tight in an uptrend!!!) On another note, please do not let criticism drive you away from here. I know it's tough, but you need some thick skin to keep posting here.
I just checked the book at amazon dot com, there is not much in the book, according to the table of contents. He talked about bars (seems fitting the book title) first and then lots and lots of pattern bs. But the section "About the Author" said he traded 20 years. If you are so interested in his book, you must have read the section "About the Author." Then you must know he has traded. To say that you "have no clue if Al Brooks has ever traded" is a blatant lie! Lescor's thread didn't help you improve your trading? That didn't surprise me, because you didn't need it. You have something most traders don't have. Despite your blatant lie (there is a remote chance that you didn't read the section "About the Author," then I would be wrong.), I think you are a very nice lady and a very unique trader. You are way above many many many traders on ET.
nodoji posts many advices (some are quite good about risk/position sizing), but it's always after the fact. And of course they always sound great looking at it then, yes that definitely looked like a strong support/resistance after the ticker moved 20 pts from it... I think she trades the cl? how about post a few trades or just some general view or technical before the move? I dont trade the crude futures but it be interesting to see how someone who speaks so elegantly actually trades...