My like means that I agree with your statement about the truth be liked by few and in the same time to be only one way, even if funny, to setting you free, but I disagree with your vision of trading.
I recently had an unpleasant experience with Ed Sekota. When I found his trading tribe website, (thanks to Elite trader) I said, how nice. So many people here in the Bahamas are asking me how to trade. Firstly we thought about a trading school - but have not met partners willing to do it and we have no time to handle it all. Then sent them here on EliteTrader. But the fake sellers are keep getting auditory in the Bahamas, as elsewhere. So I was very enthusiastic to make a filial of his tribe in the Bahamas, all of that for free, no-profit. And as, an answer, after months, I received an awful note of refusal. If he is scared to go against UBS and Credit Suisse he could not be a profitable trader ever.
Maybe, just maybe, you did not know what you where doing? Most people who went into systematic trading around that time all have done well for themselves. As a professional (OPM) trader/PM I certainly feel like it's a stressful albeit a well-paying job. The have no idea how it is to be a retail trader and would imagine it sucks a lot of the time. Though, from my across-the-street perspective there are some advantages vs many other professions including my own.
They don't sound broke to me? From your MIT source: However, the study — one of the first to examine Americans’ end-of-life finances — also reveals a diversity of outcomes among senior citizens. Between 1993 and 2008, it found, unmarried older individuals had median wealth of about $165,000 roughly a year before they died — a figure that includes current and future Social Security income, job-related pension benefits, home equity and financial assets. In the same period, the median wealth for continuously married senior citizens, roughly a year before they died, was more than $600,000.
It appears that your book is not a best seller, Stiffler. https://www.amazon.com/product-revi...w_tkin_p1_i0_see_all?ie=UTF8&showViewpoints=1 Dude goes to 90% cash in Sep 2015 at SPX 1950: https://www.investorschronicle.co.u...uto-pilot-3EyihEk7UiBOKwMIVnoXTL/article.html You're a real dandy. WTF is with Brits and their proclivity for losing money? Sleep in those clothes? Slow down with the quant, Bro. This material is incredibly complex:
Again,, why in the world should anyone feel any need to prove anything to you and share audited P&Ls. You are exactly like all the other lazy traders that come in here and demand we prove you can make money trading. Let me save you some time and effort, after years of trading and interacting with successful and losing traders your behavior thus far falls right in line with what losing traders do and say. So stop now before losing anymore money and find another hobby.
You also like selling a book using systems and backtesting even though you said system and backtesting do not work. In other words your mouth and ass are competing for the amount of shit that pours out of it. You are a salesman now "'A Practical Guide to ETF Trading Systems' is about simple, rule-based trading systems of a trend following nature."
One of the great mysteries in life is what motivates people to post contrarian philosophies on Boards/Sites that are meant to serve those with opposite viewpoints? You are on a site called "Elite Traders", presenting your opinion that trading is a bad career choice. The short answer is yes, if you never reach the true level of being an elite trader. This applies to ALL maverick type of occupations where the top enjoy great monetary rewards while the majority who try never reach any where close. Examples are: 1) Starting your own business 2) Being an actor 3) Being in a music band 4) Being an artist 5) Playing sports 6) Being a news anchor/reporter 7) Being a writer The odds of achieving great success in any of those fields are very low compared to the much higher risk of failure. So the answer to all those above professions would be classified as a "bad trade" based on risk compared to standard career occupations. People who take up maverick type of occupations should know going into them that the failure rate is high and have a timeline to either achieve their goals or move on to something else. There will ALWAYS be the standard 9-5 types of jobs for those who are risk averse and don't wish to enter a field where the failure rate is high, or for those who experimented with the maverick fields and decided it wasn't for them. Obviously for those who achieve success in maverick fields, it's not a "bad trade" for them. Lastly, how do you explain the unqualified success of Renaissance Medallion fund, which typically gets double digit returns and hasn't seen a negative return in decades? They sure seem to have little difficulty finding alpha for those who think successful trading is just luck or a temporary edge that can't be maintained.
No it was a complete waste of time. Anyone who bought it deserves a refund. Ha ha ha excellent stuff. Let the insults flow from all you Elite Traders