I don't take him seriously. He is a myopic fool. My interest is in helping the OP achieve success in life.
Hi OP and others dealing with the opportunity to become successful traders. Going to school is important. The reason is that it is the formal place to learn to learn. The OP hasn't done this as yet. It is difficult to find a place where a person can get a strong understanding of learning to learn. For trading, the singular goal of learning is build your mind until it is differentiated. You will know this has happened when you can read what the market is telling you to do automatically and without your making flaws as you read. Search Vienna (early 2007) to see his comments on what this is like in a focused on the mark comment he made then. All those new to trading can recognize what the market offers as a day passes. All can recognize that trading a large number of contracts and taking the offer allows great wealth to be accumulated rapidly. It is also easily recognizable that the trading can be automated by the application of a rational model and its proper development by just using the common tools available to all. A very simple example is just applying the zigzag indicator to an Excel spreadsheet that has a full assortment of performance measures associatated with the trading results. This can also be done manually on intraday charts using lines and logging the results on an Excel sprwad sheet. What I have found over 50 years is the following: 1. The mind can be built to understand markets. 2. Most of the learning is done unconsciously by performing the work of learning manually. 3. A routine must be followed during trading. The greatest aspect of the routine is that a person reaches closure always and frequently just before beginning the routine again. 4. Taking original capital out of the market upon the first doubling is the single greatest emotional support a trader can gain. always knowing that you are only trading with profits is a very coherent orientation. What is it like to learn successfully? It is simple and it is done in the same way any subject is learned. The essential givens in learning to trade are few: 1. Money is made in only one manner: through the change of price. 2. All markets have but two sides. The right side of the market is determined by 1. and using a straight line. The line has two variable dimensions: one is money and the other is time. There is only one combination of thse two variables: money velocity. Therefore, what is read in the markets with respect to the market variables is the velocity of the variables. 3. The market has several variables and they are supplied to every trader. Anyone can do anything they wish with these variables. I chose two measures: the velocity of volume and the velocity of price. They are related by one relationship that applies to all fractals. The relationship is a binary vector relationship that exists in the present. The market dictates this relationship and to be successful it is best to use it as it was dictated. Therefore, for me I obey the market dictates and use the binary vector relationship to continually extracet the market's offer. What has it been like to engage with the industry, gain pragmatic experience and be successful? 1. No one has to trade full time to be very wealthy. Most successful traders I have met do not spend most of their time trading. Henderson did not understand my posted print. what it said was that using 20,000 dollars margin, a trader on a given day and over 146 minutes made 50% of the annual income traderzones feels or has determined is a satisfactory annual income fomr trading something somewhere for what ever unknown time Traderzones feels is sufficient. Very strange to me. If a person makes 46,500 dollars in 146 minutes on one day with 20,000 dollars, he can amass whatever capital he needs for what ever purpose in very little application of his time at any age. The prints of my making 17 points on a stock where I had 100,000 shares in the trade also make the point. Is understanding this limited to those in the financial industry? No, anyone can understand what I posted above and the associated prints. In making decisions for beginning to learn to trade, what is most helpful? 1. I have a list of 100 questions that are good to consider filling out as a self appraisal. Self appraisal is very important. It lets you see how objective you are at a certain time in the prelearning process. WJO lists in HTMMIS, 18 common mistakes people make. I noted my orientation to these in five year intervals after the book was published and in reference to my beginning to learn. 2. Learning to audit others and learning how audits have weaknesses is optional. But if you insist on learning auditing, then you have to understand the consequences. Some of them are hazards for becoming differentiated personally. Traderzones is an example of the undifferentiated mind. 3. The biggest single decision is whether to follow the CW or not. My recommendation is to read several narratives of the history or stories of the financial industry. Here you find out why people cannot properly document what happened and what is going on. A recent good near miss is Justin Fox. A hilarious recitation is "The Predictors". You may consider "When Genius Failed" as well. Three different authors, none of which is familiar with trading. 4. Watching an expert trade is a good experience. It tells you that it is possible to take the market's offer continually. At one Expo, there were two traders competing and a moderator moderating. The moderator asked: Why did you enter before I finished your introduction?" One expert did reversals and the other did whipsaws. It was a classic. Which one was a vendor? Which one set the line in Vegas for intercollegiate football betting? So what does it mean if a person keeps asking for proof of anothers trading performance? 1. It means he cannot see the markets offer. 2. It means he cannot "read" the markets. 3. It means he is "edge" oriented. 4. It means he hasn't gone beyond Entry/Exit style of trading to a Hold/Reversal style of trading. 5. It means he is using stops, money management and risk minimization. Why have none of the great traders never been audited? Why have the traders who blew out several times been audited over and over? Why have only some of the turtles been audited? It is the decision of the trader and not the decision of the auditor. Obviously I have been audited several times and against my will and preferences. The reasons always came down to my breaking the laws and regulations. So taxpayers pay for my audits. And brokerage firms spend money through their legal departments to handle the consequences of these audits. I'm not interested in my status changing. There have been suggestions that I change my status so someone can "see" my trading or ATS's to prove something or other. There is no difference to me whether I am running away from traderzones or the SEC; it is all the same to me. These people are making mistakes and they have to deal with the consequences. What I get is the benefit of their mistaken actions or attempts. The SEC found out that there are people who do things they think are impossible to do. I could not obtain the SEC software or their records simply because lawyers told me to cool it and leave it at a series of retractions and apologies. Do I want traderzones apology? Absolutely not. What is traderzones to me? He is an example of a typical person who has a job somewhere and cannot trade for a living. What does a print of a trade for 146 minutes using 20,000 dollars to make 46,500 dollars meant to the OP? Nothing. He is just thinking about going to classes for his reasons. Will he ever learn to learn as a stepping stone to being successful in trading? He has as much a chance of learning to trade as traderzones or henderson. Look at the poll of Tdog a few years back. Only 1/3 of those who worked 6 months were successful. 2/3 who worked for 6 months were not successful. It is simply a case of differentiating the mind. A person has to do work to differentiate the mind. It is like reading, learning the multiplication table or learning to play the guitar. A person has to do drills. The drills are there to do. There is no audit drill. The SEC learned to do drills until they finally got it straight. It took the SEC about 3 years to get it straight by auditing my multiple accounts trading where I entered ahead of price movement (about every 4 to 8 days without screwing up trades). There was nothing that they could be told to explain it. They finally figured out it was not possible for one person to get so much "insider information". The right drills>>>>>unconscious learning>>>>>mind differentiation>>>>>unconscious "knowing that you know">>>>>consciously "knowing that you know" as you trade>>>>>trading more contracts>>>>> trading 40, 50 contracts>>> trading 100 contracts>>> trading thousands of shares>>>>>trading 100,000 share limits.
Sheesh. You just cannot get out of the habit of writing Jack Hershey's Long-Winded Books of Overly Obtuse Obfuscations... For anyone who has read the Hitchhiker series, Jack's posts are worse than Vogon poetry (considered the 3rd worst poets in the Galaxy) http://en.wikipedia.org/wiki/Vogon The second worst is that of the Azgoths of Kria. During a recitation by their poet master, Grunthos the Flatulent of his poem, Ode to a Small Lump of Green Putty I Found in my Armpit One Midsummer Morning, four of his audience died of internal haemorraging, but the President of the Mid-Galactic Arts Nobbling Council survived by gnawing one of his own legs off. You are your own witness... Delusions of Grandeur meets Megalomania
You guys are giving me a lot of information to work with here I am glad I posted on this forum. I am learning a lot from you guys.
Also edited for brevity. No one can say less with as many words as the grate Jack Hershey (grate - as in what he does to the nerves) There must be lot of good in Jack, because little of it escapes...
Ode to Mr.Hershey: There was a man from a foreign land who set off on a quest,well founded Passed many leagues on frozen seas and on the Arctic ice was stranded He cast about with many a shout for aid to come and find him But all he did was attract the ear of the Polar Bear that devoured him ((Please stop quoting him as I have him (and his multiple aliases/colleagues) on ignore)).
ROTFLMAO!!! Is this supposed to "inoculate" potential followers against asking you to show proof of your ridiculous claims, despite your -24% performance in that trading contest? Or is it a filter to weed out anyone with even a grain of common sense, so you have only the most naive and foolish followers to play pied piper with?