you are all getting it wrong, Best strategy to turn 5k into 100 k 1-- Go to BestBuy 2-- Buy a TV set (pref Plasma) 3-- Watch CNBC all day (by the way, Cramer head look even bigger on a plasma set) 4-- Act on Cramer's advice, buy what he says to buy, sell what he says to dump 5-- keep it doing it for about 6 months 6--euhh...by that time, you either killed yourself , or are locked in a federal prison 7-- 100k doesn't matter anymore.... 8-- Start a show where you "teach" newbie traders how to BEAT the marker
Does anybody know if a trader here on ET has proven his/her earnings? I believe that this could be done and still preserve the identity and actual earnings of the trader. If the trader gives his/her broker permission then the broker could release % gains made by that trader and identify that trader by their ET nickname (assuming that they don't use their real name as their ET nickname as I do). The broker would obviously need the trader's written consent and the broker has an incentive not to fake the results as I believe they could be held liable both civilly and criminally if found out. Also the broker should be happy to do this because they would suddenly have a free channel of communication open between themselves and hundreds of traders wanting to verify these results. Comments? Ideas anyone?
And what has the trader to win? NOTHING. Risk to lose his anonimity. Maybe risk of fiscal poblems. Risk of people that might try to contact him with good and/or malicious things in mind. What can he proof? Traders that make money during 5 to 10 years arent' even accepted as proof of a moneymaking system. In short: a succesfull trader has nothing to win, but all to lose. "they could be held liable both civilly and criminally if found out" don't publish anything, than you don't have to take a lawyer and go to court.
If your signals are very profitable that will be the proof that you CAN make lots of money. Wether you trade or not is not important because the discussion is always: you cannot predict the market. The fills can be proven afterwards by the confirmation from your broker. This way you cannot trade two accounts with opposite positions. If you see what you have to do to prove what you can. Conclusion: trade for your own and don't mind what the others think from you. BTW: my system tells me that i should stay out of the market for today. There is not enough potential in the Eminis.
Hi Guy2, Cramer is one of the founders of street.com and a talking head on CNBC who "thinks" (I'm not sure he is able to think however) he has a feel for the markets and is always opening his mouth trashing that stock and praising another....of course, anyone who followed his advice would end up bankrupt...why people are still watching him is beyond me.. www.thestreet.com
as in this example.... http://www.elitetrader.com/vb/showthread.php?s=&threadid=28684 http://www.elitetrader.com/vb/showthread.php?s=&threadid=43499