Methinks purple barney spends too much time on his kids show dancing around telling people how much he loves them.
You're right, you said an equities trader can be profitable, just that a school teacher will make more. That is not the case with an edge, according to you.
And why is the stock game dead? According to you, it is because there is no more edge. Please read your own posts over.
Oh man, you are very lucky today is such a slow trading day or I wouldn't be wasting so much time on this. First of all, have you PMed Don yet? Of course not. Second, my comments regarding ege and equity trading had to do with the fact that you are paying a much higher vig to trade equities, therefore, to make it worthwhile, it's best you have some kind of edge to bring to the table. Otherwise you are trading a sub-optimal instrument all things being equal. And yes, the average school teacher in the US makes far more then the average equity trader that is coming into the game this late in the cycle. This was not true 5 or 7 years ago, but it's true now. Especially when you take into account a teachers benefits and pension. In fact, it's not even remotely close. If you are going to challenge this statement, can you at least do a little bit of homework and find out what the average newbie equity trader makes in this market environment instead of telling me about how much skill you hope to acquire.
Because bullets are gone!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Second, tape reading is almost obsolete now. The specialist system is all but gone. When I traded equities we had fractions, not penny pricing, we had bullets, we had volatility, we had single listed stocks, not this ECN crap. The market environment today does not even remotely resemble what we had 5 years ago. Look, don't take my word for it. Go ask around. Do some homework, don't listen to me. Find out for yourself.
Thank you very much for taking the time. Even WITH any edge, trading an optimal instrument is alway advantageous. I never disagreed here. That is not what i am challenging at all. Because the average newbie trader LOSES money. As a matter of fact MOST traders lose money, newbie or veteran. Thats not my point, so PMing Don and having him tell me the average trader makes squat will do me no good. This whole time, my point is: you need above average skill to become a good trader and make good money. That is your edge! the above average part. What good does knowing how much a average newbie makes, when i know the average newbie has BELOW average, to ZERO skill. Of course they will make less than teachers. We really are arguing about semantics here. If you would agree that execptional skill is an edge, then we will be in agreement.
I wasn't asking you why the game is dead, i was just restating your claim. That there is no edge in equities. Second, I have never even used any of those so called edges. I don't read tape, and I don't rely on the specialist system. As a matter of fact i trade mostly Nasdaq. My edge which is derived from my methodology has nothing to do with any of the strategies that are now becoming obsolete.
No, I don't mean newbie as in traders just starting out, I mean any trader that entered the game post 2003. So that's the last 4 years, that includes a lot of guys that would be veterans by now. Skill has zero to do with edge. We will never agree on that. Sorry.
Listen, I mean this very sincerely, I wish you the best of luck in trading nasdaq issues. I really do. My advice to you is this, talk to at least 50 guys that make a living or trying to at least trading nasdaq issues before you make any permanent career plans OK?