Since the p/l thread is for posting just that, I thought I would address this here and open a discussion and forum for those who are doubtful of certain p/l posters. The question I have for those who call into question the integrity of a successful poster is, if you do not believe such results are attainable, what are you doing wasting you time on et? Your belief systems are severely impaired and you will never be a successful trader if that is the case. Trading is a linear business with capitalization, leverage and volatility the main factors in these "unbelievable and obviously doctored" posts.
MOST of those who claim to be successful here, I have serious doubts. When you can just say "I am up $150,000 in 4 days" how should that be believed? I think such people have a serious need to be in the limelight. Same for those who say "The market was up today. I told you so. Worship me!!!" Successful traders rarely seem to ballyhoo themselves. In fact, most multi-millionaires prefer privacy and secrecy. Some of these people who blow their own horn sound more like an entire brass ensemble...
So you come to et because it is full of unsuccessful traders and liars that need to be in the limelight? What shred of knowledge do you yearn to glean from that?
i agree with the above note. from 99-2003 i was making 100k a week many weeks and never ever came on this board. the last few years have been tough hence i come here. people come to boards like this looking for something. so guys making big money have no interest boasting here as there bank accounts do it for them. many will say destrcators are just envious. i believe some posters but to go day after day after day making 10-50k a day is very hard to believe.most of the guys making that big money on the p@l board have 25-50k down in an llc and have 20 mil of buying power and are taking huge positions. when one takes that kind of risk there has to be huge repercussions on the other side at times . so if you make 30k,30, and 25k you'll have a 20-40k down day. many on those boards are showing 20k's with no loses are on the lose days its 2k which is tough to believe. with big profits comes big risks, just ask gs quant funds
I have no problem with consistent posters on P/L threads. It helps me gauge their progress as a trader, and also let's me know what's possible. However, I do have issues with idiots who ONLY post once in a blue moon when they have a good day. Why even bother?
I get alot out of the PnL thread personally. I started posting to it when my trading was sucking wind. I thought it would give me more discipline and it worked! One big thing it does is prove that money can be made in any environment. I have noticed we have traders here who make money mostly in an up market, or mostly in a down market, or in either market. The ones that consistently make money in any type market are the ones I aspire to be like. I think it comes down to developing the right strategies (I am working hard on this). I believe the numbers that Dustin, lescor, MBA, Szeven, etc. make each day. They don't brag about them. Their buying power is much larger than mine, so I am not surprised at their returns. If they posted their numbers and then flaunted them, then I would be suspicious. I think the haters are the ones who are having a rough time making profits on days the regulars are up big. Just a guess. I admit I am envious of the regulars when I have a bad day, but I bet they struggled at the beginning of their career also. There may be fakes on the PnL thread, though I don't know why anyone would do that, except for some brief attention. Every once in a while I'll get a PM from someone who looks at my trading results and offers advice. It always is from someone who never posts their results, so they have little credibility with me.
Szeven trades at the same firm as me, he's 100% legit. I also know some of the other guys with big numbers and again, they're really legit ... Market is really good right now and I think every prop firm has top traders making money like this at the moment ... And a lot of top traders aren't even posting, like Sammy from Swift, who's a legend in the prop business already
I believe that it is possible for traders to make money consistently. As a professional trader who is making a living from markets, you should make 10% per month on your <b>efficient capital</b> assuming that your leverage ratio is less than 4:1. Of course, this kind of result cannot be compounded over years when your capital becomes bigger and bigger. So please stop the ridiculous extensions over future years from my statement. I know there are people who suspect this kind of result because I can not even convince my friends/relatives. In order to convince one of my friends, I had to post my daily P&L on that thread from mid-March to mid-July this year. Finally my friend was convinced and I decided not to post my P&L again. I actually believe that Szeven, Lescor and others are making money consistently.
I think the people who criticize posters on the P&L thread are continuing losers who are projecting their inadequacies onto others.