@zghorner What did you actually do? I mean did you really even trade with someone for a full week? Also, take what you learn and use prop firms first before directly risky large sums of your own capital. I can't recall if you liked to poop on them or not, but I do know you we're given that option a long time ago. $1,000.00 can sometimes buy 58 prop firm eval's if you wait for a sale vs putting in 1 NQ contract and losing 50 points in minutes. The top prop firms are legit and do pay out, anyone who says otherwise at this point is literally either trolling, a complete clown or just cannot trade and maybe all three. Most people on here even some you consider legit aren't even making money directly because of their technical analysis skills. Sure some understanding and setups are superior to others, but technical analysis isn't the hardest part. Not to mention a lot of these people just rely on account size and the natural bullish bias of major US equities to turn a profit while some not even needing trading income at all. So by having other advantages outside of trading eases and lessons the mental load, which is obviously a huge deal and something successful traders rarely bring up or talk about (probably because it hurts their pride or doesn't fit the narrative they want) but who really knows. Of course having other advantages and edges is a good thing not bad, who wouldn't want those. The issue arises though when they want to act like some kind of authority to other people and "teach" them how to trade, when a lot of their advantages and edges aren't transferable. So of course you're going to listen super intently and than wonder why you can't make money trading. All at your expense so they can get a boost to their pride or steal your emotional capital. At any rate hopefully one day you find a path or if you've quit for good, than hopefully you succeed in other avenues and ways.
You know what you call a guy who made a million dollars being long the bull market of the last 15 years? A millionaire.
Did what I post strike a nerve with you or something? I am genuinely asking not trying to be a jerk. Otherwise unless it was an honest mistake, can't see why you would take what I said and make a bad faith statement towards it? Did I not state the issue arises when that person than tries to "teach" or "help" someone else? What you're saying is fine and true. The difference is some of those guys than come on the thread as an authority to "teach" and "help" others when all it does is lead them astray. Also it doesn't matter if they are purposely doing it knowing they can't trade or by pure ignorance thinking they can trade. Either way the end result is others pay the price so they can get an ego boost.
No nerve. When I left the industry I thought about what I should do. There was pressure on market neutral returns that earned small percentages but in all markets. Then I saw these other guys who made billions just being long and their money was as good as anyone else’s. There’s a lot of good advice on here. Not always from guys who are demonstrably profitable. The art in trading and in life is figuring out who is worth listening to.
I seriously appreciate the honesty. That really is the best general path is networking, being involved with a larger amount of funds however that may be and than being long. Day trading at a high level in all market environments is pretty difficult. That's my current path I am doing, just because I wasn't as successful in other area's of my life, so didn't afford myself the advantages other people did. That's on me there no doubt. However, with my results I am making more connections and eventually will go the general route we're discussing if and when that becomes available. Otherwise just building my prop firm accounts best I can and diversifying with multiple ones. In case one shuts down or etc.
Hello Concinnity, Your post is exactly right. I earned all my trading capital from taking money from prop firms. It only cost me like $1000, and I got all my trading capital I needed. I have no idea on earth why traders are using their real money to trade the futures market these days. Other traders are using prop firms to take their money and used for the own trading capital. No need to blow all that money trading their real money.
What exactly did I do? Nothing right, everything wrong. Have I sat down and traded with someone else? I've never even met a pro trader in person. Went at this with zero prior experience thinking success was guaranteed. I can easily be crowned as the biggest Naive tard on the forum.
As a trader, you may be naive, but on that road, you have plenty of company. As a person, IMO, you are one of the good guys around here.
Hello zghorner, You are not a Naive tard. We all start off wrong and then eventually figure it out. There is no way to start off winning instantly long term. I think you are very good person and a very good trader. We all are very good traders.