True. However, many have ego problems--- not one has an ego problem and is a succesful strict TA practioner who started with very little and become wealthy? Come on! where are the TA practioners yachts??
You seem to be much more reasonable than many of the other TA practioners on this site. But you wont even answer a simple question if you produce apha, AUM and if you made it by trading or another source. another innoculous question-- are you with a PROP SHOP? remember, im not talking about prop traders with company edges. Im talkign about strict retail broker charters. Seriously, you are posting under an alias. I don't want specifics just ranges, I don't understand the downside of you revealing this info. I disagree with your last several lines--- the strict TA users are BEING CHALLENGED but have only defended with words and cherry picked examples--- Here is your chance TA believers, take it or dont. surf
Yes, thats likely very true. But it doesn't mean they exist (when i say they i mean those who started with very little and make a nice income strictly from TA and no other analysis or business, not those who made their fortunes elsewhere or retired folks playing games) HOWEVER, folks here expect one to take them at their word-- when demonstration of their savvy is requested--- no one steps up to plate, why?
marketsurfer, I know at least two guys that fit your description, problem is they don't want other people to find out about them. One was on ET in the past, another one still is.
I'm trading my own account, I don't manage money for anyone else. When I started back in the late 90's I had about 25k saved up from previous work. I started off very slowly, spent the first couple years treading water while devoting myself almost entirely to figuring out what works best for my temperament. Also combed through years of data and tried to line up scenarios that worked and didn't work and then worked hard at separating out the commonalities of the unsuccessful trades and also identifying why the successful ones worked. Over time, the more I understood about what led to successful vrs unsuccessful trades, I figured out a way to view the mkt (via proprietary TA, created by looking at several key components) in order to capture intraday turning points more precisely. I've made my money entirely from this base. Of course I took my sweet time and was very conservative in the beginning but this allowed me to survive while I learned. I can't also discount the work I put in, most wouldn't ever think of devoting as much time as I did but that also helps separate out the serious traders from the hobby traders.
Thanks. I don't doubt you. staying low key is smart. But just to clarify, these guys strictly, 100% base their decisions on price charts? I know traders can make money, some consistently,( we made a killing in 2008) my issue is with those who claim they can produce alpha consistently by just usiing chart based TA. I don't think they exist. surf
I know one parked in Cedar Key Florida. I know another in St. Petersburg, Florida. I know another in Sea Ranch California. As the other poster stated, they don't have the ego that requires them to stand on hills shouting how successful they are. Each of those pleasure crafts were bought with "trading money".
one does strictly so (he is a daytrader pure sang) , the other one does 'almost' strictly so like to have his charts aligning with his fundamental views otherwise it's too hard for him to hold positions, he is a daytrader but also has a core posiition at times he trades around that he keeps for a longer timespan.
Once again, I don't doubt you. Trading money OR Strict chart based TA trading money with no other edge? If its the second, I would like to meet these folks--since i dont believe it, starting with nothing (very little ) and becoming wealthy by strictly using Charts is a pipedream. thanks, surf