You are absolutely right.We all been there at some point pretending to be 'no it alls',gurus,so now,when we see those clowns(as we were at some point ourselves),it really irritates some of us.I hope,at some point, to overcome this level soon and join the group you mention(those guys are what makes this place really elite),just minding my own business.So far i can`t resist,sorry.But my hext step will certainly be in that direction.
I've been trading since 1996, asshole. But you keep your gums flapping. It's obviously what you're good at. Cheers.
I do recall some PNL posts when the PNL was <$100, but why not now? Obviously the answer is that the PNL can't possibly meet the claims. So much human capital wasted on faith. I think she genuinely believes she will reach the level of profitability she claims and therefore feels justified in what amounts to a lie. Hershey is then worst kind of troll who doesn't care who he takes down with him and should be banned for these outrageous claims when he's never shown he can print a positive day of trading.
I am done with this thread after this post as I actually don't enjoy bashing ND. Hershey on the other hand is a sociopath and does a tremendous disservice to this site, but is such a caricature that nobody takes him seriously. I will be the first to apologize to ND if she were to back up her claims in CL.
did she really say she can make 6 figures with 1 contract? most likely that is not possible because no edge can exist that is that big. simply put, there would be no one on the other side of her trade if she was that good because institutions that provide basically all the liquidity are not in business to lose money.
Ok, I found the original reference to this, and she never specifically said she was making 90k/yr trading 1 contract. She suggested that it was possible. Similar to what she said at a later date when questioned on it. http://www.elitetrader.com/vb/showthread.php?s=&postid=3455202#post3455202 "You can make a decent living day trading futures with a $10K account, provided you learn how to trade price action, and you can learn how to trade price action with a tiny Forex account" When questioned on it, she replied the following day in that same thread: "If every human being that ever lived required verification that someone else had done a thing, please explain how new and innovative and amazing things would ever get done? Existing world records are broken and new inventions are created regularly." So still didnt admit she was able to do it there, and instead dodged the question. When someone said 300+% a year seems like swinging for the fences and isnt conducive to trading for a living she described some PA and EMA stuff and said: "Is this "swinging for the fences"? One contract? I don't think so. Is $90K a year "a living"? It is for most people." So as far as I know, she has never come out and said that she was actually putting up numbers like this. She just suggests it is very doable, and even then she does it in a roundabout way.
I think that could be an even bigger problem than the huckster educators. I'm talking about people who knowingly lie (or lie by omission) in forums and chatrooms because their ego won't let them admit they are losing money. (PS - I am not targeting NoDoji with that statement, its only an observation of several forums/chatrooms and how different characters in those places evolved) If people were honest about their own trading results, or at least prefaced their well-intentioned advice to others with a disclaimer that they arent making money yet...... then aspiring traders would see the truth of the matter. That virtually no one is making money trading these silly methods. But because so many people cant bring themselves to do that.... it contributes to the mythology around this business.