hmm.no edges in the markets

Discussion in 'Trading' started by chimera, Jul 16, 2013.


  1. You can lead a horse to water...
     
    #141     Jul 20, 2013
  2. Redneck

    Redneck

    without question

    RN
     
    #142     Jul 20, 2013
  3. dbphoenix

    dbphoenix

    As for chat rooms, it really isn't necessary for the owners to implement another one. Stinto.net is perfectly fine, for anyone who wants to bother.

    But as for getting an experienced trader to participate, that's another matter. I've done a number of chat rooms and they are all essentially the same: loads of people logged in but only two or three people actually there. Everyone else is either in class or at work or in the car or doing laundry or bathing the dog or whatever. These experiences taught me two things (at least): (1) few if any participants are actually looking at what I'm looking at and thus gain little to nothing from the experience (though if they're not really there, I don't suppose it can be considered an experience), and (2) a great many people who claim to daytrade aren't; they're trading during coffee breaks or between classes or whatever, which is a big reason why I shifted my focus at TL to larger bar intervals.

    And who, after all, cares? Those I've worked with over the years have received far greater benefit from maintaining journals and logs that focus on their own trading plans than anything they'd gain from just watching me, which, as I pointed out above, few people actually do since they aren't really there.

    Anyone who thinks he's going to learn to trade from chat/trading room is ripe for a big disappointment. The only people who argue that one can learn trading in this way are vendors.
     
    #143     Jul 20, 2013
  4. dbphoenix

    dbphoenix

    Which is about all one can do who wants to pass this stuff on. You can't force someone to adopt the behaviors of a successful trader.
     
    #144     Jul 20, 2013

  5. I'd say it was an immense task, taking into account the amount of effort that prop firms go to in finding the right person.
     
    #145     Jul 20, 2013
  6. dbphoenix

    dbphoenix

    I'm no longer concerned about "finding the right person". People know where I am and how to find me. If no one wants it badly enough to go even that far, I fortunately do have a life.
     
    #146     Jul 20, 2013
  7. NoDoji

    NoDoji

    My consistently profitable trading plan was the result of positive influences from several people: al brooks, austinp, bighog, geez, jack hershey, and you.

    The single most important concept I've incorporated into my trading was the result of something you shared with me years ago in response to a simple question.

    I'm forever grateful.
     
    #147     Jul 20, 2013
  8. NoDoji

    NoDoji

    As for real time calls, I'm curious what those desiring this believe they'll gain from it.

    ET's chat room was active when I joined in spring 2008 and I actively participated from July 2008 until its demise, when it was continued by Robert Weinstein, where I actively participated for quite some time until I switched to mainly futures trading. I and several others made real time calls every day.

    One guy, Geez, announced every stock he was watching, announced in advance of each trade the price at which he was placing his order, as well as his exact stop loss price and profit target. He posted these trades in a Journal here on ET until it got spammed, but he continued to make his live calls for another year or so in the chat room.

    He day traded from a laptop and had a job as a contractor too so often was interrupted by his work. Despite these limitations, he had a strict trading plan and in the year I followed him he more than doubled his $70K account.

    http://www.elitetrader.com/vb/showthread.php?s=&threadid=148752

    So there's proof of a small retail trader earning $100K off a $70K account, all trades announced in advance.

    I had no idea the brilliance of what I was seeing right in front of me that year. Much later I "got it".

    I don't understand the constant requests for real-time calls. What do you hope to gain?
     
    #148     Jul 20, 2013
  9. If I had to guess, faith that it can be done.
     
    #149     Jul 20, 2013


  10. I'll 'short' this post all day.
     
    #150     Jul 20, 2013