Yep.........I agree ........no more bashing & praising services or chatrooms or any of that,, doesnt bring any good to anybody here. With the exception of Vadym , many of us have became crabs in a basket bashiing each others service or motivations & I agree, it should stop & call an end to the negetives We all came to the board in all good intentions & we have become one that bashes also because it became fun & something to do BUT nobobody is learning anymore......lets change it here & now & lets togther do something good & grow ET into a better place for other traders to grow & enjoy....... Lets get into some solid trading techniques that help others, we togther have incredible talent as a whole & shareing with each other we will all grow from each other as well as teach & help novices, We could get into all sorts of technical analysis, trading methods, mental side of the game , money management, tape reading, level 2 ( DATTRADER could help on that) really.., scalping , swingtrading, trendliines, stochastics, moving averages ...the list Goes on & on...........the talent on this board is great, I see & belive in it BUT we need to stop the nonesense MYSELF included & make it great in 2002 I am with you all the way on that one Vadym, maybe you want to take the lead & start a clean thread we all could particpate in positively, I am in if everybody else is in ! You Pick the Topic & start & I hope everybody will come along & do the right thing & contribute Chartwiz
Should start a subject about trading in ranges and in trends. People seem to confuse the two and think we are trending when we are ranging and ranging when we are trending. How often do we see that when stocks are moving in a sideways trend, then when it gets to the top of the range everyone is bullish as crazy and buying like they are missing something, and when it gets to the bottom they are selling and shorting. Then, when we do have a trend, so many times people do the opposite. The stock is "up too much" so they start to short it, or its "down too much" so they start to buy it. Over the last several months Ive seen a number of people fall into that trap (myself included a few times) and some of them really get hurt. Trade a trend like a trend, and a range like a range. I have a lesson I could put up but it would require a few charts..Ill see if I can find a way to put them all up on here. Brandon
Brandon.........good idea........lets see what Vadym comes up with & lets get it going for the new year.......anybody else have any ideas ???
OK, I have to admit that I read this thread with great pleasure. It is absolutely delightful to watch some of the bigger names in this industry throwing muds at each other. I figure it is about time that I add my two cents. I don't care how you did in 1999/2000, I don't care what kind of track record you had during the entire bull run or a super volatile year in 2000, for a trader, the past mean absolutely nothing, what matters are next year, next month, next week, next day, and next trade. If you made $200-$300 a day in 2001, you are a $200-$300 a day trader, as simple as that. BTW, who the hell came up with this $200-$300 crap? That's a huge range (50K and 75K a year is a 50% difference), I can tell you that I averaged exactly $295 a day this year, you either AVERAGE $200 a day or you average $300 a day. If you are serious about this game, you know where your average is. Don't even try to blow it up, one of my best friends at work had two 10K day's this year and quite a few mid-high four digit days, and she AVERAGED a little less than $500 a day for the year. No one, and I mean no one can convince me that a super star trader can trade and run a chat room at same time. It is a huge distraction that you don't want in your trading. People who claim they don't trade themselve like Jea Yu (who I actually defended on Amazon before I started at Worldco) are absolutely shameless. I have zero respect for college professors who talk about the stock market without playing in it, I have zero respect for people who talk about trading but do not trade. Ok, I do realize that some of you claim that you are actually trading when you make those calls. Now, if your chat room is free like Harris's on Yahoo, I give you utmost respect and blessings. When you charge people $200-$300 a month when you average what is that again, $200-$300 a day, or when you were coached by one of the market wizards and have to rely on a commercial chat room for income, I don't know what to say. Nobody can tell me that their trading is not affected when they have to trade and type chat room messages at same time. What hell, I yell out stuff to my team every now and then and I don't see how you can share calls through a chat room. I don't care how liquid the stock is, there is only so much size at the ASK before they start to spread it, and even a 10-20 cents spread hurt when you have to ride the wiggles. You are trying to make calls so everyone can ride your coat tail to profitable trading? Talk about false advertisement, I am sorry folks, it can't be done, half of the people will have to be bag holders. Oh, your chat room is educational and you do it for the love of the game? Get off the high horse, just tell me what % of your income is actual trading profit, and what % is from subscription fees. I run a trading team at Worldco myself, and my goal is to eventually put together an all star team through aggressive recruiting and refined coaching. And yes, the percentage of commissions coming out of firm's pocket (NOT MY TRADER's), while small, is a serious incentive for doing so. I don't understand why would people in my position even try to deny this, it is like 1+1=2, me-want-additional-income-stream-so-me-put-in-additional-time, yes I love the game for what it is but no I don't call out every position I take during the day because it WILL have a negative effect in my own trading. Anyone denying that is lying to you. That said, anyone who ever e-mailed me or talked to me on the phone know that I don't ever waste anyone's time with blown-up stats. I tell them what my YTD numbers are (73600), how much experience do I have (14 months), how consistent I am (86% positive before commissions this year, 73% after), how many super size performers I have on my team (at this time 0). When they do come in for the interview, I show them my account statement and my P&L for the day. There were two guys who sat behind me and watched me losing half a point first trade into the game, and struggled to finish the day up $200 lousy dollars, I was sweating bullet until I finally got myself back in black, but hey, if I sucked that day I will let you know about it. It was a very choppy Friday, but I told them I was shaken out on an energy move in the morning and didn't make the shots I should have made. On any given day, I would be perfectly willing to have anyone on my team to look at my blotter. I will tell them exactly what I did, what my mistakes were. When I take a bad trade I don't call it "a set-up that usually works" and write it off. Usually when I lose money in a trade I misjudged something and I let them know what my mistakes were (for example, today I loaded up the truck too much on that 10AM futures pop, and did not concentrate on energy stocks like I planned to, also missed a very hot credit service sector). On any given day, I make mistakes. If you read my journals from March, you will see that on my best day ever, I mentioned that I played a horrendous open (made just 1K on a super intense sell-off when you could have bulleted anything) and got lucky on a huge afternoon rally. I recognize the difference between me playing well and market giving me gifts. Why can't a chat room vendor admit that they made a mistake instead of writing it off as a good trade turned sour because of some unexpected market event? And I totally agree with Duffy the vendor slayer, if you are running a commercial chat room, why shouldn't you audit your account statement? I said it in my own journal that for a trading desk manager, my current record is lackluster, but I still gathered a lot of interviews, simply because people know I am trustworthy, that I play no games, that I am who I claim to be, that they can have their faith in me when we trade together, learn together, grow together, make money together, get smoked together and laugh about it together. I believe to be the best of the best, you must be true to yourself, and anyone in this business who is not true to themselve will never be a legit opponent of mine. Yes, they may be ahead now, but the only way they can still be ahead of me, ten years from now, is me defeating myself. I am dead serious in that regard, for anyone who is not a friend is an opponent in this business, and I never ever underestimate my opponent. If your heart is not pure, your trading will never be pure because you will never recognize your weaknesses, and you will never play the game the way it is meant to be played. A suggestion, if you really believe you are the hot stuff, e-mail a copy of your 2001 account statement to Don Bright. If you read my posts regarding Don Bright, you know that I am not a fan of him, but I still have a lot more respect for him than most others on this thread. If you really are as good as advertised, I will be the first one to make an apology, I will subscribe to your service so my traders can have an additional source of information. P.S. Turok, was that you (Neo-on-Geo)?
Why you felt its important to continue to bash is beyond me...........WHY ?..........feel better now ? happy ? got it off your chest ? Finished beating it like king kong ? Rather than bashing anybody from now on.........contibute, lets not worry who makes what or what you make , trust me I could care less about your wonderful $300 a day income, dont worry to look in other peoples pockets, look at your own & try to improve on your own & make a decent income to live in NY like a gentleman......lets stop all this beating & bashing, it goes no where for anybody & nobody benefits ......... You claim to make 86% winners.........great.........show the board how you do it, share ........teach...........this would actually be better than for you to look a fool trying to knock everybody, because thats all I got from your post.....somebody trying to impress others by bashing & knocking...........who cares what Vadym makes, he likes to make $200 or 300 a day so be it....happy happy, if he has or I have a service, big deal ,what do you care or get from it ? Put your energy elsewhere & do something for the good ........if you have something to offer the members here, offer it....if not look to better your own income for 2002 & not worry about what anybody elses makes or doesnt make........nobody really cares what anybody else makes........if you make $200 people laugh that its to small & put you down............ir you make $20,000 a day, nobody belives you & they are jealous.......so who cares, keep it to yourself.......... Chartwiz
I am leaving this thread & going to focus on brandons new d........." Self Promoting Guru" He started it tonite & was the first to start posting great information.........lets all work togther & put out some work & we could have a nice thread going............this thread here is dead in my eyes for me as its played out........... if anybody has anything GOOD to offer & post & teach & train others ...........go to brandons new thread & start the ball rolling .............. Nice Work brandon in getting it started & off to a great start Chris
Chris: Since when did you get a license to bash others and no one can bash you back? Do you really expect that you can walk over people without getting a dose of your own medicine? Everything I say and do, I am willing to pull out my account statement any time to prove it, doesn't matter if I will be making $300 a day or $3000 a day. I am exactly who I claim to be (and you can't say the same about most vendors on this board), I have never even pretended that I am a super star trader, or some guru hiding behind the name of his mentor running some garbage chat room. Oh, and if I ever say I am leaving a board I do it for good, I don't pretend to be helpful when I am not. When I wrote a training manual for my team I realized the art of "writing 10 pages of garbage that say very little, like cut your losses", which is what most gurus do nowadays. You need to read other people's posts before bashing them, I said % positive in term of days, not trades. As I said before, it doesn't matter whether you are ahead or not, or even how much you are ahead, unless you are 100% true to yourself, I will beat you before it is all said and done, and you can take my word to 2010. Nothing beats the truth, and that's what I have to offer.
Fools and their money are easily parted. Sellers of snake oil in the old west sold it as a panacea for everything. There was always a fool willing to buy. In the 21st. century subscribed chat rooms and guru's have supplanted the snake oil vendor as a bringer of riches for the indolent, lazy, or simply stupid, aspiring trader. Greed is the hook, and tales of easy living the bait. Perhaps these people deserve to suffer the result of their sloth and greed, who knows? But for those willing to work at it there is a wealth of free material on the web. Yes, there are even FREE chatrooms where you can watch people trade but not expected to participate in trades. They are not professional firms but a group of traders linked by internet. These same sites have lots of FREE material on trading and Technical Analysis. Neither are they bait for paid services. If you look you can find them. Maybe in the USA the aspiring trader could learn from the stock market educational centres. Of course, there are some traders on this site (with no service to tout) who will point you in the right direction(s) for education. But remember this: You have to get off your butt and follow up any leads, read and study the market(s), develop a nose for detecting subscription chatrooms and guru's and will power to turn away from their promise of untold riches. the traders biggest enemy is himself but you wont know until you make your first trade with "real" money. Mr(s) aspiring trader the choice is yours: snakeoil with it's false promise of riches with little effort, or: Getting off your butt and engaging your brain. Finally, for the incredibly stupid: You do not need guru's and subscriber chatrooms. You need hard work, ability to filter information and the courage to listen to traders who tell you it is hard work. The list goes on but I've suddenly lost interest in beating my head against the wall. I just have to accept the greedy and stupid are fodder for the snakeoil man, and always will be despite warnings, and that the more astute will navigate the sea of advice on trading, listen to his/her peers, learn about himself and grow. Baron tells me that some forums are advertiser sponsored. I've asked him to inform me how I could identify such forums, not to ignore them but at least to know where they are. Apart from the above..Happy New Year. Toby UK
Am I to interpret this as meaning your only incentive in developing a team is % of PROFITS?! DO you not get a small piece of the commission revenue as well? If not I am afraid you are in for a long, brain damage filled journey. I considered the same thing, but I would not do it without the commission sharing piece. The averages for failure are too high and the road to profitability too long (before I would see a dime) for me to be that distracted from my own trading. It is hard enough just to keep myself profitable in this market. No this was definitely not Turok as this guy/gal obviously had some serious inside scoop and Turok was just a trader. I would imagine that Neo Geo's identity has already been determined as those were some pretty specific and major flames made and someone must know who he/she really is.