Is This What ET Has Become?

Big AAPL · Jul 19, 2018

GOC

Who cares...really?

Take his money and be done with it.

nickynoes · Jul 19, 2018

What you are describing are merely the evolutionary phases every trader must go through before making it. Going from ‘tell me what to do!’ to ‘tell me how to do it!’ and then realizing you have to do it all yourself is a process most traders go through. It will probably continue on for as long as there is trading.

ElectricSavant · Jul 19, 2018

I am guilty of this. I just posted this on my thread today. Should I stop helping people?

ES

I need to make a friend with an accomplished coder..I mean a real coder who can place algebraic expressions if needed in code to establish shortcuts to achieve excellence in concise coding. That prospective coder would need to have a lot of patience and be a faithful mentor and "Father-like" figure to me with a lot of experience and knowledge to share. This would be once-in-a-lifetime opportunity for me? The trouble is it would require a person with a "calling" and a need for educating someone. oh well! I guess I got to teach myself as what I want is impossible for free.
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They · Jul 19, 2018

There are definitely two types of newbies and two types of profitable traders.

Newbie #1: Help I am just getting started what should I do, is there a shortcut?
Trader #1: Get disciplined, put in the time, take notes and learn from your mistakes.
Newbie #1: Thank you for the reality check, I appreciate it. May I ask more questions as I begin to make observations?
Trader #1: Sure, no problem.

Newbie #2: Help I am down in a well can someone throw me a rope?
Trader #1: Here you go, here is a rope.
Newbie #2: Can someone help me pick up the rope and hold on to it?
Trader #1: Hmm?

Trader #2: F@#ck everyone! F@#ck the newbies and F@#ck all of the other traders. Why should I be grateful and pay anything forward. I am the supreme cause of my F@#cking awesomeness. Why should I help anyone? In my dictionary 'gratitude' comes between 'gimme' and 'gotcha'.

Newbie #1 can become Trader#1 or Trader#2 or a Vendor
Newbie #2 is a hopeless case

I am sure there is not one profitable trader on ET that is going to lose their edge by newbie#1 also becoming a profitable trader. Edges are not lost by a few noobs becoming profitable traders, to think so is simplistic and naïve.

destriero · Jul 19, 2018

ElectricSavant said:
I am guilty of this. I just posted this on my thread today. Should I stop helping people?

ES
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lol is that what you call it?

fordewind · Jul 19, 2018

To learn from someone is an ability caled wisdom.1% only posesses.This thread is pointless, as 99% will eventually learn on their own.

Jack1960 · Jul 19, 2018

In summary, do not help and do not ask for help. People, what is wrong with you.
Please do not judge and just help.

Spectre2007 · Jul 19, 2018

I was 25 when I started clearing through Singer-Wenger. The only help I received was advice from head honcho with the pony tail.

I didn’t attend their floor scalping practice sessions they had at CME.

Stage: 1 Keep quoting the market with hand signals. Become proficient in being part of market making process.

Stage: 2 Only quote certain sides of the market. Based on price patterns and news events intrinsic to the market.

Stage: 3 Network and develop friendships in the pit with floor brokers. They will immediately take both sides of your trade from orderflow hitting the market. Within seconds you make 1 tick. This basically fed you and didn’t leave you exposed to speculative risk.

What helps me today is developing macro sense of the market within the economic cycle. And playing dispersion in price within the trend using that macro economic back drop. And using other markets to enter before the market moves with implied indications of the first market.

Chris

Buy1Sell2 · Jul 19, 2018

Baron said:
I understand where you're coming from but not sure why you would put forth the effort to criticize a handful of people who are looking for guidance or shortcuts.

You seem to come from the perspective that every trader has to learn everything..... good and bad, on his own. But why? Do I need to re-make the same mistakes on my own that have been made by countless others if I can avoid them by asking people more experienced than myself?

My grandfather had an accident with a power tool in a factory and it cut one of his fingers off. So when he says to me, "Baron, never push a narrow piece of wood through a table saw with your bare fingers.", I don't need to try it on my own and lose my own finger to understand what he was talking about.

That's like asking why would any carpenter, plumber or other tradesman teach a young apprentice the skills of the craft? Why would the master ever waste his time teaching someone with little knowledge? Because there's a joy that's associated with helping someone learn the shortcuts of the trade and grow as a person. There's a satisfaction in knowing that you helped someone become a better version of himself so that he can pass along that wisdom to someone else one day.

I've never met a successful person in my life whose success was attributed strictly to his own efforts 100%. In fact, if you ask anyone who has achieved any level of success in his life, he can give you a laundry list of people who influenced him and helped him in ways that he could have never helped himself in.

So although I understand that you're calling out what you view as laziness, I think there's also nothing wrong at all with someone asking, "Hey, I don't know what I'm doing in this particular scenario. Can someone with more experience help me so I don't have to make every mistake on my own."

Based upon your whopping 7 posts here, I'm guessing your efforts on the floor mimics your efforts here. It's not that there was nobody on the floor willing to help you out; you just never reached out for help or offered any assistance on your own to anyone else. So you got back from people what you put into them, which was nothing. Even reviewing your past 7 posts, it's clear that you have contributed absolutely zero to the community in terms of practical trading knowledge or help, which is sad since you've been trading since the 90's. So because you were too prideful to reach out to others, you think everyone else should do the same and just "figure it out".
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Agree in toto

destriero · Jul 19, 2018

There are a bunch of pathologies on any message board. This happens to be a trading site so you get various levels of experience.

1) The rank newb who obsesses about one method, goes bust, finds new method.
2) The 3rd World FX trader who’s only looking for a new 400x bucket shop.
3) The ex floor broker that never made a living wage on the floor but thinks he’s Izzy Englander.
4) The jaded 30-year grinder who laboriously posts each trade and trend line. On 4th marriage.
5) The dude masquerading as a woman with an avatar taken off of google images. Will spend 3 hours a day spouting Wikipedia-level garbage. There is no subject that they will not feel confident in offering a nickels worth of advice.
6) Jack Hershey — in a class of his own. Empirical proof that some individuals were simply born to fail.