my opinion of what happens here on elite trader all too often Someone becomes interested in trading and comes on this site to learn more. The new trader begins to read some books and articles on trading and does some basic research. Now this person has many questions about trading any begins to post; mostly asking questions about prop shops, terms and strategies. After a few weeks/months of this our new trader begins to trade. This is the point where the trader believes that he/she knows how to make money and has expertise in some area of the market. Doing things like pulling out a calculator and figuring out how much money needs to be made per day to make a quarter million a year....and figuring out how easy it will be to trade a certain size a certain number of times to get there. Never having done it consistently is a sure sign of this stage. at this point our new trader begins to have some small successes and attributes any losses to "learning". It is now after an up day that he/she begins to post again, but this time not to ask questions but to answer them. So now what we have is the new, new people getting the same old questions answered over and over again by semi new people who should not be offering advise in the first place and the cycle begins again. --just something I have noticed, also the guys who actually make money donât give the quick and easy answers and maybe not the answers the new, new person wants to hear.......that is if the successful trader takes time to answer new trader questions in the first place
Not so fast, this sort of bumper sticker crap is of no use to any body. Quote from breakin: also the guys who actually make money donât give the quick and easy answers and maybe not the answers the new, new person wants to hear....... Whats the moral here? Perhaps there is no quick and easy answers? sulong
who cares if people ask the same questions. maybe in response there will be new answers. searching is good, but people should not be discouraged from posting their questions.
just because the ''once new'' trader may not be making money doesnt mean he cant answer questions. there are lots of traders out there who have a method that works, know what to do and how to do it, but just cant put it all together because of the psyc part of it. that doesnt mean that their information is useless
I never thought I would say this, but I agree with GG. (BTW - weren't you NOT going to post anymore until...oh, nevermind). Anyway, there is no harm in people asking questions that have been asked in the past. You can usually tell by the title of the thread what it is about. If you are not interested, don't read it. But, most people read the threads looking to see if anyone posted something new. And if someone posts something blatantly wrong or stupid, they are usually called on it. This "self policing" helps keep all of the information in check. Peace dawg.
i dont think people should stop asking questions, that is not the problem at all. I am just saying if you are new you might want to think about who has the free time to answer your question. In fact i would like to see more, better questions and more informed answers. My point is too many people on here have been trading for 3 or 6 months or less are answering questions as though they are experts. I know there are people on here trading for less than 6 months with almost 1000 posts, that does not help anyone.
But such is the anonymity of the Internet, and posting on ET. No one knows who you really are, and what your background and experience is - that is why we have to rely on others to help police wrong answers and bad advice, as I mentioned in my previous post. Peace dawg.
Okkkkkk....here's a newbie question.....what is "prop shop"?? My guess is a firm that would give you say 1/4 mils of line of credit to trade, but, do you have to balance the account to zero money owed at each day end?? What's their typical sign up fee?? I meant you have to bring money there to open an account right?? Sincerely, a newbie