I've found that the longer you go at this the simpler it gets and you get. I've constantly eliminated nonessentials. And you start to realize your bottom line counts. Gary B Smith trades off a single laptop, even though he does EOD trading. It's the starters who look for all kinds of fancy gadgets and systems for some kind of edge. Only with time do you realize your biggest edge is your own experience.
Hi P2. Thank you. It's www.barclaygrp.com. I'm sorry if I spelled it wrong in the chat. I only know of about 7 hedge fund database websites. I mentioned the good ones. The primary business model for the database sites is that they charge investors for a subscription to their database. Some of them will charge the manager (hedgefund.net) and some will ask for a split of the fees if an investors finds you through them (Iasg.com). Reporting your results to a database company doesn't appear to be advertizing. I haven't seen any SEC ruling on the matter, though.
And the regular drawdowns you see, as you stated, have been only 5-10% or 3% this year? That is truly (fill in the blank).
I've found that the longer you go at this the simpler it gets and you get. From my work with Innerworth and here on Elite Trader, I've now spoken to many traders. I've read the main interview books most folks have read, and of course Innerworth's interviews... If there's one thing that's gotten distilled above all else, is that once you figure it out, it's pretty simple. One fellow who manages millions, swing trades, 2 days to 2 weeks - uses one monitor and basic DSL. He might get a professional type feed and charting package like Real Tick. But that's it. What might be more important, is what he reads. I see many people who have 4-6 monitors and charts out the wazzoo. Maybe it helps them. I dunno. I want a second monitor for a trading screen. But that's because I do other things all day, not because I'm going to be having so many charts open I need more display space. Of course, I'm still looking for my angle. I may have found it. If that's the case, I'll have to start the long process of building up my capital. I am still 2-3 years away from trading like I would like to. Count me as another who is enjoying this conversation. André