This forum has become as informative and intuitive as CNBC. They really need to change the name to "wanttobeEliteTrader" Or 'hacktraders' Every other post is about some wank predicting the future of either the world coming to an end and they want to short everything or we're going to 50,000 on the DOW. I have concluded that 98% of the people on here have no clue as to what goes on in the financial world, nor do they trade, and have no idea what an equity is. Most aren't traders and a lot of the traders shouldn't consider themselves traders anyhow. The infomation flow of horseshit on here is worse than the retards on CNBC, but at least I get to look at becky quick and erin burnett no matter how stupid they are. In here its just stupid. This forum has lost all credibility. Is there any forum out there with actual traders and not a bunch of scottrade guys buying 200 shares of RIMM acting like a bigshot?
I feel your frustration but I find it kind of moronic to ask this question after such a post. That's like telling everyone that they are idiots and then ask them for directions. Good luck!
Nobody is forcing you visit ET and post...Since you're so disappointed in the quality of posts, just leave and never turn back. Problem solved.
The value is in hanging around long enough to uncover an idea or approach worth investigating. I'd say 70% of the reason why I'm finally making money daytrading is because of threads and posts here on ET. Yes, it's mostly shit but discovering a missing piece of the puzzle makes it worth it. I'm like a pigeon trained to push a button by a dispenser. Most of the time, a rabbit turd pops out, but at random moments I get a nut. So I keep pressing. That being said, the freshest newbie would find the greatest value here. After a while, once you've tried everything and discovered what works for you, diminishing returns set in and you start to notice the endless pigfights.
You would be very surprised at who reads, not necessarily posts, on these threads, and the good they have done. Very, very surprised indeed. And, btw, Wall St. doesn't work. As a matter of fact, it doesn't even exist.
sounds like you had a very bad day trading - no holy grail in any thread - many traders like myself made a killing shorting mini S&P today - i'm happy ET exists!
I actually find CNBC pretty informative, cnbc bashing is overrated. Liesman, Santelli and the guests can provide some good info sometimes