seasonedpro... I think the issue at hand is not that your strategy is antiquated (although scalping is definitely much harder to do these days), it is your discipline. You mentioned yourself that you make money almost every day, however, you give it all back on one or two days of the month. That my friend is the problem. Ask yourself this question: would you even have posted this thread if you eliminated your propensity to give back profits, and make money every month?
It just blows my mind that you will make $500 - $1000 (net, I assume) for 20 days to give it all back in one day!!!!!!!!!!! Where is your risk control? Do you scalp or swing trade?
Since my style hasn't work for a few years I have as of late been breaking my rule of never doubling down on losers. I morphed it into double down once, then if it keeps going against you then hit bids right away. Well sometimes I just knwo it is a bs move and hang on rightfully, but about once a month I get stung and stuck in something that never bounces back.
You're not being forthright with us. You either make very little money to begin with, in which case it's believable you blow your wad in one day... OR You are getting into sick sick size AND doubling down. I've never seen anyone down 20k in a day who doesn't regularly get into 10,000+ shares. And if you're getting into more than 10,000 shares regularly, then you are surely making more than 500-1000 bucks per day. Level with us - are you really profitable most days like you say?
what's the difference? the guy says he doesn't make money anymore and he asks for advice on jobs after trading. i have seen hedgefunds looking for traders, who knows you might get lucky, i don't know.
Student: I just got a C in General Chemistry, even though I've been studying my butt off. I was pretty good at high school chemistry, but this college thing is a whole 'nother ballgame. I'm thinking about dropping this whole pre-med thing. What do you think I should do instead? Business? Pre-law? History? Maybe even go to a trade school? Work at Denny's? Friend A: You're blaming your inability to do well in chemistry on the college vs. high school difference and not on yourself. I think you're not being honest with yourself as a student. Student: Alright, I know I suck at chemistry. Now, what do you think I should do instead? Friend B: Your problem is that you're trying to do things the high school way - you know, memorize the formulas, etc. You've got to really step back and see the big picture. You've got to really understand chemistry, not just memorize formulas. Student: Uh, alright. But, seriously, I think I want to just give up on chemistry. Friend C: I think you're not studying hard enough. Ask yourself this, would you even be asking us for advice if you were studying hard enough? Student: I've been studying as hard as I can. Friend D: You're not being forthright with us. I see some beer cans on your floor. You've been partying, haven't you? Student: Alright, alright, so I went to a few parties. I know some guys study 24/7, but I just can't do it, man. I'm never going to get into med school. I've got to do something that's more my speed, know what I mean?
The difference is that people come here for information. I'd be willing to guess that a solid one-third of the people on this board are still trying to decide whether or not trading is BS or if they can make a living from it. When someone posts something saying that the evolution of the market and that forces beyond his control have robbed him of the ability to be a profitable trader - and he deploys hyperbole to sell his case... well, I just feel the need to call him out on that - if for no other reason than it's insulting my intelligence.
does anyone else think fadertrader is a total ass? This guy is trying to move on to something different and fadertrader is shitting on him. What's the point?
Friend D: Level with us - you weren't really all that hot at high school chemistry, were you? It's an insult to my intelligence for you to claim that the high school to college transition is robbing you of your ability to perform as a student. Student: Look, I'm just looking for some advice on something I can do other than pre-med. I left my high school transcripts back home and you would probably say that I faked them if I were to show them to you. But yes, I did get an A in chemistry in high school. I know I haven't been able to adapt to college very well - that's why I'm looking to get off the pre-med track and do something else.
OK, I was afraid this might happen. I offered some help to seasonedpro so he could find a trading job and nearly all of ET PMed me. LOL. Jesus, Mary and Joseph we have a lot of guys on here looking for work. Look, I can't in good conscience hook everyone up on ET. It's just not going to work. I'll try to get back to everyone that has PMed me but just so you guys understand, I extended the offer to seasonedpro because he bared his soul on here. I appreciated his honesty. I will see what I can do for seasonedpro and if things don't work out for him I'll see about the rest. But my God, I could start a firm with all the requests I got. That really caught me off guard.