Maybe not the best trader on ET, but 40yotrader had an interesting journal. He doesn't post anymore, but I think a new trader could learn a lot by following his development from raw beginner, to profitable trader. I think he eventually even collected money from family/friends and started a fund. Check out his journal: http://elitetrader.com/vb/showthread.php?s=&threadid=10118&perpage=6&pagenumber=1
I prefer to think of it as the dust of ages, blowing over here and settling around me. I could be carrying the soil that was trod upon by Solomon or Nebuchadnezzar or Genghis Khan!
Had this guy on my buddy list from a long time ago, don't remember why, must have been a good reason though. I should go back and check it out.
Well, everyone who listens to you must be a sucker then, and blotters aren't legitimate. Statements only, verify funds, and due diligence is over. Nobody at the NFA did this for PFG so no go for 24,000 people on that so I certainly don't believe any of those snapshots from so-called "blotters" ever. They have to come from third parties and yourself is not one of them.
The main reason lone wolves are 'less successful' is that people who network get more capital. It is far easier to make big bucks by making 20% on 1 billion in 1 year, than by turning 50k from friends and family into 1 billion or even 10 million (after taxes and living expenses) over years and years (or decades). There are also informational, discipline, collaboration, and motivational benefits to working in teams. The only real benefit to being a lone wolf is autonomy. If you want to get rich, team up. If you want to have maximum freedom, stay solo but accept you are likely to make a lot less money and have more risk.
Computers have changed things a whole lot and not all for the good. Humans in the pits and at the stock posts were better at pricing rather than just doing order matching. Computers are here to stay, they reduced costs to the exchanges and to us pikers but they fail in a crisis for pricing. Did anyone mention a crash? Computers are job killers. Software is always in beta, always...... lol http://www.bloomberg.com/news/2013-...ows-peril-persists-one-year-after-knight.html âWeâre all working too fast, too thin and weâve got systems that do things for you,â said Tim Hartzell, who helps manage about $425 million as chief investment officer at Sequent Asset Management in Houston. âYou can make so many little errors.â
I prefer to be an individual and avoid the failings of "GROUP THINK" LTCM anyone? Everyone on the planet was not born to make billions, that is a joke. Sequestered juries get sucked into group think and the jury decision is therefore determined by the strongest personality in the group. If the strongest personality can not change someone's opinion to their liking...........you will have a hung jury.