Making money in trading "QUICKLY" equals a decade or easily more of stagnant, dormant, observation, wisdom, questioning, courage, independent thinking....before that catalyst ignition eureka moment happens and success truly starts flowing. The best traders in the world....have spent the equivalent amount of time getting a PhD degree studying, observing, understanding, questioning the market Someone has more chance of becoming a social media success rather than a trading success. That's how difficult trading can be. After losing 40% of my account and getting traumatized when I first started trading....I just Stared....at the market for the next Decade or more
I am fascinated by the interest in his system. I think it relates to complexity and the the jargon. You ppl treat it like a treasure map. The guy lived in a 1500 SF home in Tucson and had existing tax liens when he passed. So ask yourself if you can extract value from something that JJ Hershey could not.
i will say that the size of a house or what is visible, might not tell everything. i wish everyone that ever wanted to live big gets to do so, you either love it or hate it. my 4400 sq ft house payment was replaced by my yearly taxes, you never stop paying. pull the bently "des and band of idiots" or lambo up and you get a free meal maybe but leave to find the emblems have been stolen or it's keyed by some person that expects everything free, cause that's what they taught them in college.
He died with a tax lien on his residence. He posted a pic of an IBKR F&F account he was managing with many sub-accounts. $115K balance trading Micros. 4400SF is a rookie number in TX.
Jack proposed a contest here on ET back in the day. Provided fills (no proof) to the journal and the fills he posted did not hit the tape (price never traded), wildly optimistic, and he still lost and disappeared for months. The stuff I trade is 0sum so have at it. It serves no purpose for me to persuade you to spend your time in a more effective manner.
not for two people its not, it's stupid too much room. i agree the tax lien was telling - unless he wanted to shaft the county on the way out..
Imo there is merit in that. The problem with noobs (I made this mistake) is the impatience to trade (greed). It is difficult not to trade. To not trade and just observe, make notes, observe some more etc for long periods of time and sit on your hands, it is difficult but a good idea.
Hello themickey, Day Trading is only complex because day traders do not have anyone to SHOW them how to make GURANTEED profits. If you have someone you can watch on video live making money everyday, then of course day trading is VERY simple and EASY. Notice I said SHOW, not teach. That is BIGGEST mistake traders make is wasting HOURS of time thinking they learning trading from books and paid courses and trading rooms and chat rooms and trading video courses.