Blowing Up

oilfxpro · Mar 13, 2012

Quote from dv4632:

I'm still not quite sure how NoDoji became such a polarizing figure. Even in threads that have nothing to do with her.... her name keeps coming up!

It seems there are very few if any shades of grey, you either love her or you hate her. She always conducted herself in a professional manner and never responded negatively to attacks. In a weird way it kind of reminds me of a story I read last fall about Tim Tebow and how opinion was so sharply divided on him.... the reason being that he just seemed too good to be true. So as a result people either fell in love with him, or hated him and rooted for him to fail. Seems the same sort of dynamic plays out on ET with regard to NoDoji.
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Reminds me of the bunny girl.In the end she turned out to be a mentor.

TraderBoy23 · Mar 13, 2012

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.

I discovered the stock market during the Christmas of 1998. I remember watching CNBC and watching how things were moving up. I decided to get a Interactive Brokers account. I decided to trade CHK exclusively with a small account...about 20,000. CHK kept moving up and I kept daytrading it. I moved on to other stocks eventually. I actually had no idea what I was doing, but somehow I was making money.

At some point in 2004, I started reading websites, blogs and other such things which set me down the wrong path. It seemed the more "knowledge" I took in the worst I did. Before that time, I hadnt considered looking at charts and didnt really know what an indicator was. I didnt even have a strategy. Just daytrade a few stocks that seemed to be on the move up from day to day with tight stops.

Fast forward to today and I have nearly a $160,000 loss on my tax returns. If I only lost $160,000 then I would have been very lucky, however, I lost more. I wasted a lot of time and my trading severely impacted my social relationships. It severely impacted my health and the way I thought. For all intensive purposes, I was just like a drug addict.

Today, I have my own business and do well with it. Last year, I made well into the six digits. However, I should have started that business ten years ago and not wasted any time with the markets. Not only did I blow opportunities in regards to social relationships, but I also blew away time which could have been used in developing my business. I could have been 10 years ahead at this point, but now I am 10 years behind.

There is a way to make money in the markets and that is by investing in mutual funds or etfs when the market goes through one of those big selloffs. Indicators are good for one thing and that is to let you know when things are really sold off so you can add to your mutual funds. Here is one good indicator, among others, which I use to make entries into my long term retirement accounts. When the vast majority of stocks are traveling under an average, then that is probably a good entry point right there:

http://stockcharts.com/h-sc/ui?s=$NAA150R&p=D&st=2002-01-01&en=1003-01-01&id=p41097975344

I currently have six etfs in my retirement account which I add to during big market selloffs which come each and every year bottoming usually in the late summer/early fall months: SPY, QQQ, IWM, DVY, EEM and TLT. When the market seems way overbought, I will sell half of my holdings and be partly in cash waiting for that selloff. This is a reasonable strategy which you do not have to put much thought into.

Daytrading, prop trading, etc. is a sucker's game. You will either lose time, money or both. That time could have been spent with family, building social relationships or building a business. Once you lose that time, there is no way of getting it back. In 1999, my grandmother and father were still alive. However, they are not alive today. In focusing on the market, I wasted time...time I could have spent with them.

If you do insist on playing this sucker's game, then let me tell you what WILL NOT help you.

#1. 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.

#2. The people who lurk behind these anonymous handles. These people will not help you and may instead try to take your money in other ways. I know some of you are looking for mentors, teachers or coaches on these sites, but I would not trust any of the people lurking behind these internet aliases. In fact, I would even donate to a legal fund (if there was one) to bring lawsuits against these people who lurk behind anonymous handles. A lot of these guys are rip-off artists who come to these forums playing a confidence game of some type. They will tell you things like they used to work on Wall Street, they will sit there all day long making after the fact calls, they will fake their credentials telling you something like they were a doctor...don't believe a word they say and if it sounds too good to be true...then it probably is. The only thing I will believe is the brokerage ticket and, until I see that, I do not believe anything anyone says on here. I dont care if they posted 10,000 messages or have a history on here...they might be like a Madoff. Dont trust them.

#3. Useless trading books and publications. I dont need to explain more.

My advice to you is not to get into trading. Invest your money into diversified mutual funds or etfs during obvious market selloffs. Take half off the table during obvious overbought conditions. However, if you really MUST trade then let me give you the following advice:

#1) Take it slow. Do not start trading with money until you have made money paper trading. I know I will get a lot of odd replies about this, but I am confident that if you can't make money on paper then you cant' make money with actual trades. It may take you a few months, several months or years, but do not trade with real money until you can hack it on a simulator.

#2) Get your "education" from popular well known trading books written by popular well known authors. Do not get your "education" from anywhere else.

#3) In any prop or trading firm...on any website, etc., everyone has a million odd strategies. They will whip out some indicator or chart that you have never seen in your life which seems odd and hard to understand. They will use terminology you have never heard of, some complex options strategy...probably to look smart. Do not try to use someone else's strategy. Develop your own.

#4) Take of your health and social relationships above all. Family comes first. Dont waste your time here when you could be using it to spend time with the ones who count most.

I wish you all good luck and hope you make the right decisions. There was a guy on this website named NYHOOD who recently quit trading to form his own business. I wish him well and hope he succeeds. I know he is now moving down the right path.

There are folks out there who do make money off the market. I remember visiting a magnificent apartment in New York City with all the bells and whistles of a certain option trader. It was an amazing place which seemed to be a prime example of successful trading. However, I am the prime example of an unsuccessful trader and there are many folks out there like myself who just have losses to show. For the rest of my life, I will have a $3000 write-off each and every year. Im not proud of that at all.

I am done with this website otherwise and will not come back to reply to any responses. I just wanted to post my story, my opinion and a bit of advice for those who want to go into trading. Best of luck to you all...
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Honestly. Who the hell are YOU. To come out here and say what will and won't help, and say that everything in the market is a suckers game. YOU were a sucker and it is a hard and difficult path, surely, but that does not mean one simply should not pursue it. Should a high school football player quit playing football, because its so hard to play in the NFL...

blowingup2012 · Mar 13, 2012

Some of you exhibit some radical behaviour. I post whats obviously my opinion in a rational manner and you come back at me with radical thinking. The reason why Nodoji is hated because there were some after the fact trades posted. True credibility is earned through before the fact trades posted in detail and real time. Before the fact traders do not need moderators.

beachhouse · Mar 13, 2012

Quote from blowingup2012:

The reason why Nodoji is hated because there were some after the fact trades posted.

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True. very true. She only posted after-fact trades. She is a con artist.

The ET website owner should tell us why she left ET. I suspect something stinking and fishy happened between the con artist and ET.

Truth will set us free.

traderslair · Mar 13, 2012

Quote from blowingup2012:

Some of you exhibit some radical behaviour. I post whats obviously my opinion in a rational manner and you come back at me with radical thinking. The reason why Nodoji is hated because there were some after the fact trades posted. True credibility is earned through before the fact trades posted in detail and real time. Before the fact traders do not need moderators.
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All AL BROOK traders are posting here AFTER the fact.

In fact, his so called live al brooks trading room only talks about trades AFTER the fact.

Show me a profitable real Al Brooks trader and I will say I'm wrong.

No one showed me yet I'm wrong.

oilfxpro · Mar 13, 2012

Quote from traderslair:

All AL BROOK traders are posting here AFTER the fact.

In fact, his so called live al brooks trading room only talks about trades AFTER the fact.

Show me a profitable real Al Brooks trader and I will say I'm wrong.

No one showed me yet I'm wrong.
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This Al brooks theme is a copy of the James 16 threads on forex factory, they couldn't con noobs with systems or EAS , so they tried a discretion price action mentoring service which nobody could prove as a scam.

The sellers don't need to prove it works , just make the idiots believe it does .

These forums are a game.

oilfxpro · Mar 13, 2012

Quote from RCG Trader:

He is emg
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Emg would need several twolet rolls to wipe his ass before putting on a live trade.He could post only the winning trades , not the losing trades, after the event.

All this education bit was his hint to get a mentor , one of the scammers who posts only the winning trades.

beachhouse · Mar 13, 2012

Quote from oilfxpro:

This Al brooks theme is a copy of the James 16 threads on forex factory, they couldn't con noobs with systems or EAS , so they tried a discretion price action mentoring service which nobody could prove as a scam.

The sellers don't need to prove it works , just make the idiots believe it does .

These forums are a game.
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the forums are hunting ground for brokers, vendors, sponsors, webinar givers, book sellers, Velez, Al Brooks, Nodoji, prop firms, retail firms, software peddlers, bowlinsky, lewinsky, richard gere, and clint eastwood....

The hunted are innocent small traders and newbies.

xdiesel123x · Mar 13, 2012

This guy failed because he cant follow rules.

He said

this is my last post on this website; yet he is still posting

beachhouse · Mar 14, 2012

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
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He is an addict. Addictive to trading and posting, not necessarily in that order.

I went short by taking his advice on a different thread, and lost 30k today. My biggest loss in 2012!