The Path to Heaven or Hell

Discussion in 'Religion and Spirituality' started by emg, Feb 13, 2012.

  1. Clever chart. Perfectly describes the experiences of 90% of stock traders and probably 99% of futures, options, and leveraged currency traders.

    What the chart doesn't show is the severe emotional toll in between each of those steps. The years of frustration, disappointment, and mentally beating up yourself that comes from repeated failures.
     
    #51     May 4, 2012
  2. Refer to Lifetime Losing Trader post:
    http://www.elitetrader.com/vb/showthread.php?s=&threadid=222419&highlight=lifetime+losing+trader
     
    #52     May 4, 2012
  3. emg

    emg

    Here is an interesting article the path to become a successful trader


    Billion-Dollar Traders Quit Wall Street for Hedge Funds

    http://www.bloomberg.com/news/2012-...traders-quit-wall-street-for-hedge-funds.html


    In the five years that John Silvetz made about $700 million for Deutsche Bank AG (DBK) by trading corporate bonds and credit derivatives




    John Silvetz is HIGHER EDCUATED and began his career working in a trading firm (bank) and not from home subscribing 3rd party educational vendor, opening multiple accounts, losing and reloading. That is a REAL TRADER. He chose the right path to become a successful trader.


    Higher Education is the key to become a successful trader.



    Higher Education!!
     
    #53     May 9, 2012
  4. Not so much higher education, emg, but the ability to model highly robust backtests is the key to success. Most don't have enough quantitative creativity and patience.
     
    #54     May 10, 2012
  5. mmm

    let's see what the great gordon gekko think about all this...!



    http://www.youtube.com/watch?v=1evnsDpwdUk&feature=youtu.be



    well.. he has spoken...



    think gekko knows... he just knows..!







    :eek:
     
    #56     May 20, 2012
  6. Ivy Leaguers have class at least. Disagree about Ivy Leaguers having no balls. Some do. Some don't. Just like the rest of society.

    Obama is an Ivy Leaguer. Got Bin Laden. That's ballsy.
     
    #57     May 20, 2012
  7. Pigsky

    Pigsky


    --------

    well, i have read this thread and i am very SAD to say i think it is true..... :( :( :( :(

    i feel naive and foolish....

    how could i have been so foolish???

    luckily my trading was in SIM acccount so did not lose any money. just lost time.

    the problem with trading is this ----
    you have no one to teach you. other jobs have degrees you can get and internships to learn from. also there is on the job training and mentoring.

    but how do us retail traders learn??? Not from university. not from employer. not from licesnse programs. no....
    we learn from 3rd party vendor who are failed traders. they teach only in hindsight charts and never show any proof they can trade for profits.
    we also learn from people in forums. well, many people in forums are liars... Sorry to say but it is true. :( people lie about all kinds of stuff on the internet.

    at first i didnt like emg postings...
    reason why is he was "raining on my parade"... i had visions of lots of money and a high income.... american dream. and emg was saying no to it. and it made me angry...

    but now i reallize with COMMON SENSE that this is right. for a retail trader who thinking he is going to make $150,000 a year trading eminis by quacky vendors and peole in forums.... how foolish. it is a path to Ghetto.
    Berney Madoff, Guy Chimay, Marcus Shernker ponzi guys and all the others..... all fakes. they were real life guys who had funds and official busness card.... but were fraud. i bet online anonymous people are 100 times worse .

    think that you are going to make it as a trader from vendor quacks and forum journals is the SAME as saying you are going to make it by this infomercial guy.....

    http://www.youtube.com/watch?v=mubCkCAEiDQ

    Seriously it is no different.. what a silly thing for any intelligent person to do.
    think rationally and take pictures of ferrari out of your mind.

    i tried trading but am now going to college for a career in this fall. i have not decide on a major yet but hopefully soon.

    to repeat i am going to a UNIVERSITY to learn. I am not going to learn education from quack website or infomercial or forum topics. i have smartened up!

    i will continue to research trading and markets in free time for long term investing but no more daytrading .

    i dont thikn anyone who is aspiring should use any vendors and should all quit trading. instead find a real career. only exception is if you know a mentor who can teach you IN PERSON REAL TIME how they do it. that is the only way to trust! all internet vendors are TOO RISKY!! No better than infomercial guy!!!
     
    #58     Jun 30, 2012
  8. the only thing emg knows about trading is that it is hard

    and the only thing he knows which is true is, if you want a job where you work for somebody else you should get a degree

    the problem is, he doesn't know the difference between trading and a job (maybe they will teach him that in graduate school.)
     
    #59     Jun 30, 2012
  9. Common Sense rules in trading and all aspects of life and it is the HIGHER EDUCATION and you cannot be taught common sense.
     
    #60     Jun 30, 2012
    murray t turtle likes this.