The challenge was changed, because everyone I encountered wanted to change the deal. That's how negotiations work. But, the bottom line is that no one was prepared to produce those tax returns -- at any price. And, without the tax returns, I have no assurance that the person is telling me the truth. I wouldn't buy then, and I won't buy now, without reasonable assurances that the seller can actually deliver.
Maximum loss on a short is infinite, if the trader is infinitely stupid. 90% of my profits since September have come from shorts.
Hi, I would agree. It is the same for any avocation. Most of the time it is not possible to pass on the skill - it is too individualistic. Sometimes what is being done is sort of in the gray are of ethics and law. Sometimes it is a little edge that works for a while - but then mysteriously disappears (like a billiards player who is in the zone). However, daytrading is not the only way to make money. I made plenty in my life, never even looking at stock price. Nowadays, it is a bit of a diversion for me, and pretty interesting. Have you found a way to play with the stock market and make money? I am concentrating on S&Ps swing trading. Working pretty well so far. Cya, Rich
Congrats! You did better than me. However, the good news is that we both made money above inflation. Better than many people that I know. Rich
Repeat the offer a few times and I think you may well find a taker. But you are not offering a great deal, unless you really mean to just sit their and watch. Because , for example, if you were watching me trade with no explanation of why i was taking the trades i did and rejecting others, you probably wouldn't be able to figure out what i was doing by just watching alone. I have been trading many years, but not day trading your requisite 5 years, and i don't earn substantially all of my income from day trading, though i trade "full time," so i don't qualify, and likely never would because i have substantial, other sources of income. It is likely though that you will find a taker if you repeat your offer. Yes you can make good money day trading. Go back and read Cocaine's post. That pretty much sums up the situation. It is not easy to learn, but once you have got it right, you have got it. Look at the Profit/Loss Thread on ET, and you will find that there are a number of very good traders posting on ET. Let me just add that Day trading is not a get rich quick scheme. It is quite easy for a good trader to net 20%+ routinely, and that is better than you will average with mutual funds. And occasionally traders will have a 40% or better year. But always it is the case that higher returns are accompanied by higher risk. A 500K account can return 6 figures year after year, and that indeed is a very nice living, considering that you only have to work a few hours a day to achieve it.
Just the same, a good mentor most likely will not be willing to sell to you his/her time and energy for several months without assurances that you are a qualified student... I'm not talking about how much you are willing to pay. Mark
I think that someone should be able to step forward with a counter offer of some sort. It would be interesting to track to progress. Rich