I finally Quit Daytrading after 5 years

Red_Ink_inc · May 26, 2011

Quote from EPrado:

God are you so full of shit. I don't know where to start.

1) Rearden was one of MANY guys who did GREAT while daytrading at Schonfeld. The problem is, fools like you started during the boom/easy days and never correctly learned how to trade. There was a period of time when all one had to do was type in 4 letters and hit the buy button. Then things got tough and most of the guys like you were washed out. When I started in 1991 day trading was good, but you had to work at it. Then the easy times came when EVERYONE was making money(like you), not much skill needed. Guys with no risk management skills got bailed out all the time. Then in 2003 or so things got a bit tougher and you had to again work at it. Now...things are tough, but if you put the time in and work your ass off, there is a ton of money to be made. Plenty of us around daytrading stocks, futures, etc and doing very well. The problem is, a lot of traders are still stuck in the 1998-2003 timeframe when you could hit homeruns 4 days a week. These guys refuse to adjust and just bleed money over time. Daytrading is far from dead....you just have to work VERY hard these days.

2) Vic Neiderhoffer....GREAT example. Not shocking that you worship a blowout trader. VN is a very bright guy and probably a good guy. But...he is a HORRIBLE trader. Here's a guy who has no idea what the words risk management mean. Sure he had a few nice runs, but he blew out twice losing all his investors money. What good does it do anyone who had money with him if the end result was they lost everything. Not once , but twice.

3) BAM. Do yourself a favor. Think, do some research before you spout things you have no idea about. DB was by far the best daytrader/trader ever to trade at Schonfeld....made his fortune that enabled him to start BAM by daytrading/short term trading. You are a bigshot.....I am sure you know someone who can explain to you what happened when DB got away from short term trading. I am sure even to this day he still does short term/day trading type strategies. There is another guy who is kind of big who does some daytrading as well....his name is Stevie.......something........ummm.....Stevie Cohen...that's it. I am pretty sure I would listen to a guy like him who has been a top fund mananger for a long time, then some blowout trader like VN.

4) SOES bandit energy ? Correct me genius...but by the time you and the other 60 guys were hired in like one week at Schonfeld arrived, SOES-trading was long gone.

5) You are a huge PE guy...we get it. You do mega deals all over the world from your loft in Texas. Then go to Ibiza in the summer. What's your next trip? Miami Beach in August? Back to Chicago in February? I got approached by a PE guy like you a few months ago. About some oil deal in Texas. Probably a friend of yours. Was so beyond full of shit....sounds like someone I know. He claimed that Crude was going to hit 140 by June 1. Anyone who invested in his plot of dirt would be rich. ZZZZZZZZZZZZZZZZZZZZZZZZZZZ.....people like you should stick to running infomercials at 3 a.m.
More...

+1

Log in or Sign up

I finally Quit Daytrading after 5 years

Red_Ink_inc