Finally, gay marriage is allowed in certain states. austinp, what state do you live in? I have had my eye on you....
you can NEVER show a loss since someone might be watching for the first time. and you really need their money. maybe show a loss, very small, and act like you are showing a real loss. this is the same person who would bash ET, is now listed on 3rd party scam link, and would trade corn if it meant someone would pay for vending services. all with zero chance of showing schedule D, or starting a fund and being legit. use sim, buy ES and sell NQ at same time...record both. then upload the winner to youtube and beg for money....
How NOT to get an edge................ By getting hired at SAC hedge fund. Society Accredited Cheaters Cheaters blow up sooner or later. :eek: Ok, no more posts for the weekend.......
"Gurus" will never give you objective rules. Objective rules can be tested and then the "gurus" will have to be accountable for their losing systems. If it is revealed that the "gurus'" systems are not profitable, they won't have any followers. "Gurus" need followers to: 1) feed their e-egos (people to read their writings) 2) buy their courses/newsletters/subscriptions/ebooks For this reason, "gurus" will never be specific. It's not just this way with trading, but in ALL areas where "gurus" exist. Real estate investing, personal development, etc. When looking for a mentor, I suggest finding someone who: 1) has a verified record of success (in trading, this means real time calls and/or notarized account statements) 2) is able to teach in a manner that fits your learning style Some people will just have #1. I know people who are amazing at certain things but they cannot explain them clearly enough to teach them. This is often the case with "naturals" because they never needed to break down the concepts because it was never an issue for them. You cannot learn from these people. Some people are just #2. They are able to explain things well enough that you can understand and replicate, but they don't actually have a complete system. It is rare to find someone who has both. "Gurus" will come up with all sorts of reasons for why they don't give objective rules. In most cases they are just BS'ing you (because they don't even have objective rules in the first place), but perhaps in a small number of cases they are being truthful. Regardless of the case, you cannot learn from these people. There are three possibilities: 1) A "guru" is just BS'ing you. In this case, you cannot learn from this person. 2) A guru actually knows what he is talking about, but is unable to explain it objectively. In this case, you cannot learn from this person. 3) A guru actually knows what he is talking about, but is unwilling to explain it objectively to you. In this case, you cannot learn from this person. It is important to identify whom you cannot learn from so you can move on quickly and not waste time. All the theory in the world is useless if you cannot filter it down to "buy here" and "sell here" in real time.
Notorized account statements are useless, also. An old trick is just to have multiple accounts, and only show the winning accounts--- notorizing means nothing other than one account was profitable--- you will never see the losing ones. surf
Fair enough. I mean you could have two accounts and take opposite trades in each of them and one of them will most likely be up after a while. What you would have to do would be to show the trades in the winning account matched the objective rules of your system. Since most people cannot give objective rules, this will never happen. And to be honest, I'd rather have real time calls than notarized account statements. Real time calls are only not feasible if you're a microscalper or something. Even then, it would probably be possible to write a program that would instantly share your buys and sells in a chat program. The object isn't for other people to follow your signals (since in microscalping they wouldn't be able to copy you anyway), but simply to prove that what you are doing works in real time. Swing trading and investing should have no issue with posting realtime calls. An extra 15 seconds isn't going to make much difference in the vast majority of trades lasting minutes to hours. Sure, maybe like one time price might spike between when you hit "buy" and when you switch over to ET or your chat program to say that you bought, but in most cases it won't be an issue.
If you do that , you are misrepresenting your skills and that is illegal, remember Larry Williams was fined because he was losing money in his managed accounts while winning in his Robbins 1987 championship account....People were fooled in his managed accounts because they saw only the results of his championship account.
You are right, most ppl do gamble, but gambling in the mkts inevitably, sooner or later, leads to losses, as nitro correctly points out. Once upon a time, I showed a non-gambling approach on an ET journal: http://www.elitetrader.com/vb/showthread.php?s=&postid=3517512 Reality is that good capital is needed, to trade meaningfully. Most people indulge in dreams of getting get rich from nothing...
I can only assume that your post was meant to be, tongue in cheek. In which case, yes, you nailed it.