Jack Hershey, your insults are uncalled for. I don't know if this is an intentional Howard Stern act but I don't appreciate it. I came here for ideas and so far, some people have come up with some interesting ones. And, as far as succeeding in the future, well, I think if you take any beginner and let the practice, eventually they should improve. I can't imagine really educated people saying: "OMG, you started with losers so you must be a loser.". Most people intereviewed by Jack Schwager started with losses. Thanks to the others who suggested ideas.
Good suggestion. Some people become good traders and some don't. Why fight the process most traders go through. It is interesting why trader28 and trader666 and teasingtara didn't ignore me. Personally, I believe that these people do see the market's offer and they do not take it for various reasons. They see a lot of others taking the offer using an assortment of successful methods but they don't do what these others do either. it was obvious to me that clambill just needed to do his first work effort for learning. but with contributors with you around backing his orientation, it probably is just better to pass on his potential. too bad.
You mean giving up? At this point, even if I had money to trade, I'd make sure I did enough back testing and forward testing with a demo platform possibly for several months before taking on another trade with real money. So, the only thing I'm risking right now is time, not money. Besides, after I spent several months preparing myself to trade in a prop firm, I see books on trading now as fun instead of a "chore". So, I'll just continue to have fun looking at this stuff. Right now I have like 20 videos from traderslibary but I ordered another 3 just last week. lol, you must love those $0.99 deals for videos.
Do you believe you're entitled to post ridiculous, unsupported claims on threads teeming with newbies and play pied piper to the unwary without someone calling you on it? You claim you routinely make 3X daily range but in reality did -24% in a trading contest; you told your former IBD group you'd turn $10 thousand into $1 million in 100 days and post updates on ET but failed to do that; you've been challenged to numerous trading contests and opportunities to put your money where your mouth is but ran away each time... I could go on and on. You could make the "B Team" go away by backing up your claims but you can't so we won't and get over it.
Jack, speaking of dummies, how about telling us why you think stochastics is a leading indicator of price and why you were conducting hindsight "demonstrations" last year... even after your errors were pointed out to you. Do you understand the difference between "the hard right edge" and hindsight now? http://www.elitetrader.com/vb/showthread.php?s=&postid=2345741#post2345741
clambill - this is the one professional reply on your thread, yet you don't appear to have responded ? Btw, I know at least one trader making serious dough trading MA crossovers (plus a few simple filters) with a 7 figure account. The line "MA xovers don't work" is generally made by traders who are not making money. HTH. J.
I did not respond because it seems to me that you'd need to find a way to hedge the short options. I mean if you sold a put then you'd have to buy an out of the money one to protect it. Then you'd make the difference in the cost between the two. If I'm correct, you'd need level 4 clearance to even sell (write) options in the first place. Yeah, I realize there are filters. I've looked at a couple of things in the last day and I realize sometimes you may have to just look at the chart visually. There was only one word of advice from my manager when I lost my job in the prop firm. And that is that I should use my intuition, not just technical indicators. But, the reason I did look at a few more things was to try to find some ways that are still sort of "automatic" in the sense that if would force you to notice what is going on if you weren't consciously aware of it. I hope that makes sense to anyone who reads this.
Along those lines SPM is a simple, effective framework for quickly developing intuition about price action.