I can help you with @schweiz. I was asked to provide any proof that I worked with OPM. I produced a $12MM account(s) from 2005 as it's what I had on hand and only because the fund is no longer in operation. @schweiz replied in kind with an EOY futures run from 2002 showing a $0.00 balance. Stiffler stated that systems "don't work" yet he's pushing a book on mechanical systems. Cityboy and Stiffler provide no proof to back up their statements regarding their success in the markets. This is simply an elaborate troll from multinicks: cityboy and stiffy.
Sounds mystical...like saying 'I won't let facts get in the way of my version of the truth'. If you believe in your world view you should never be afraid of facts or numbers as all they will do is confirm it. You should never fear the truth as the truth shall set you free. Also, although the truth can be painful, you can make better decisions once you have it. If you use false data, your decisions and your output will fail. I agree that the markets are not always simple with multiple variables and probabilities of outcome. On the basic level, however, every trader has to look at the cold hard number which is his risk-adjusted P&L. This objectively verifiable fact (in the form of mathematics) tells him/her if he/she is successful or believes in magic fairy dust or has false emotions or delusions. You can't ignore mathematics in trading ins the same way as you can't pay for your electricity bill with emotions. Your multi-screen set-up will not work when you switch it on in the morning if you try to pay for it with feelings.
I agree. Day trading is probably a negative sum game even factor in the upward bias of stocks. So, if all day traders in aggregate make money, then it will be arbitraged away, otherwise, there is risk free money to be had. All those who train to make the NBA, get an Olympic skating gold medal, pay for camps, coaches ... will in aggregate lose money too. To me the most encouraging part of the study is that some were profitable, and those that made it had a pattern, it is not random. Us human survived and thrived because there were always some risk takers among us. Those risk takers mostly perished but a few that got out of Africa made us who we are today. Have a good day.
There is little point in arguing with somebody who is so determined to make enemies. A stock index is a system. And it works. I did not say that systems do not work and I am not pushing a pointless book I wrote 10 years ago. Why do you want to pick a fight? What motivates you? How is picking a fight useful or helpful?
zenostiffler, I agree with buying systems is not the best way to go. But really disagree with buying trading course is not the way to go. If you buying a quality trading course then its good. No knowledge goes unused.
destriero, You seem to have some trading experience over the past year and some success. What do you believe or your thoughts for a retail day trader to be successful or consistently profitable? Please share your thoughts Thanks
You've stated that you're here for Schadenfreude... just not when it's directed at you? I pick fights with dilettantes. People like yourself with no edge in the markets which hold themselves out as trading successes. It's one of my edges.
Bro, you'd become suicidal while viewing all the commas in my IRA. I've been trading since HTC (first gig) to the present day. One prop group, two banks, four funds. Allw ere trading positions. Discretionary. I have no advice for daytraders. You are welcome.