Here is what I would do... not believe her next April 1st!!! Pigsky... you know what you want to see, so you are looking for any sign that she is a fake and jumping on it. If you looked at the more overwhelming evidence that she isn't, this would bring it in the other direction for you, but you can't see it cause your mind is made up. I know because I had done this my whole life, and I still got issues, but at least I spot them now. I think you really have to decide that either day trading doesn't work, in which case don't waste your time to come here and spend more time studying, or admit that even though you haven't found a system that works yet, there is one out there. If you believe the second, you have to open your mind up a bit. Don't trust anyone, prove it to yourself. Drownpruf for all I can see doesn't post his method anywhere.. does he? So we can't evaluate what he does. Nodoji is right to say any working system will be guarded, but price action isn't exactly guarded, its right there on the chart. If Db posted how much money he makes, would this help you in any way? I see a bit of myself in you and the need for proof is completely justified, but your proof needs to come from what you can prove to yourself. I have done this with SLA and it works. You keep looking for proof that things don't work, but you gain nothing with this approach except to feel good for giving up trading, which might be what you want so mission accomplished. But if you want to make it work, you need to focus on proof that things do work, so test things out yourself.
http://www.elitetrader.com/vb/showthread.php?t=122244 http://www.elitetrader.com/vb/showthread.php?t=253092 http://elitetrader.com/vb/showthread.php?t=244704&highlight=pitchfork I've got dozens of journals going back to riskarb, atticus and current.
This line of thinking is what causes so many people to fail. You should only be concerned with whether you can really trade or not. Now if money was exchanging hands I would agree with you but it isn't. There is no difference between reading a PDF from DBP and reading a trading book in your living room. I'm glad everyone wants to play sheriff but nobody is losing anything more than time. The suckers all end up somewhere. Better that the follow someone that doesn't have a hand in their pocket don't you think?
These analogy's that it doesn't matter if the mentor/guru trades or knows how to make money trading, are painful.
Maybe my analogy is crap but it works for me. The lifter is only competing against himself - against what he has already done. Even at the Olympics lifters know what their numbers are. They are trying to hit a PR on the biggest stage but that's the best they can do - measure themselves against themselves. This doesn't mean that there aren't tons of douche bags in lifting who think that putting up bigger numbers than someone else means they "win" but IMO they are completely missing the plot. The Olympic hopeful has no ego about his numbers. He freely gives of his knowledge and time. He is always positive and encouraging. He doesn't need to pull others down to feel good about himself. He has supreme belief in self and that is enough for him.
"... Any working system will be guarded".. All market price action is mountain that is hiding gold. A working system can extract that gold with little resource utilization. Money can be made only when price action matches criteria for system. The problem with day trading day in day out is that very very few systems can extract inefficiency that is present in price action. Even if your correct, your stops could be hit and resume what system implied would happen. The reason day traders fail is that they seek to fish everyday and catch fish. An expert fisherman will only fish when criteria is right. Time of day, water conditions, lure, weather patterns... Chris
I think the proper trader's mindset is a pre-requisite that most lack. Without this key ingredient, you could fail with a profitable system.
You fancy yourself a pro poker player. I've asked, do you know Joey Commisso? Speaking of analogies... if you were new to poker and was offered tutelage by someone professing to stealing the blinds 8/10x and earning greater than 10x the buy-in... would you believe it w/o proof? Would you accept it at face-value were the guy playing nickel/dime ($0.05/$0.10) on pokerstars from his living room?