The Rise of the Day Trader

Discussion in 'Professional Trading' started by Pekelo, Jan 26, 2009.

  1. Wealth Envy, plain & simple. Its a cancer that some people have.
     
    #21     Jan 27, 2009
  2. The first thing that occurred to me while reading this article, was how stressed out he was. That seems odd given his experience.
     
    #22     Jan 27, 2009
  3. Broadway Trading again? Enough of the comedy.

    You may fool some, but not others. That shop is famous for being Blow Out Central when the Tech Bubble was busting. It was actually one of the first shops to go and was one of the loudest blow outs.
     
    #23     Jan 27, 2009
  4. you cant really blame the author. He is simply writting what he is told, and what he sees around him. He probably doesnt trade. If he sees traders swearing, and acting like animals, then, yea, he's going to write that, and I'm sure in places like that, a lot of them get carried away in the heat of things.

    The whole point is to show that there ARE people making money in this market and its not the investors...its these guys like the one in the article.
     
    #24     Jan 27, 2009
  5. I guess this is proof you don't need to be intelligent to trade.
     
    #25     Jan 27, 2009
  6. Cesko

    Cesko

    Journalists are not known for hard work ethics.
     
    #26     Jan 27, 2009
  7. Of course it is. His small group's blowup rate is high. And TA pretty much fails under longterm testing.

    The article writer is showing EXAMPLES of supposedly successful traders. Nothing is proven here
     
    #27     Jan 27, 2009
  8. ifl
     
    #28     Jan 27, 2009
  9. And fundamentals work well in the Bull Market we have had in the last 70 years (get yourself an yearly chart) :p
     
    #29     Jan 27, 2009
  10. Gaj - The swearing was not the issue we are talking about. Many non-trading corporate professionals swear all day long at computer tubes. I know I did as a DBA at 2:00 AM when I used to recover 2 gigabyte databases before I retired to being a trader. However, I never recall DBA’s being depicted this way in any publication.

    What we are saying is this article characterizes traders as seat of the pants reactionaries who are ill prepared to trade, much less perform any function in society. The writer made it sound like traders are stealing from the markets (from the poor investor) as they collapse and are not grounded with any form of method or planning to do this on a regular basis. We are in effect the Gauls sacking Rome. The writer was blaming you and I for the markets ills. We are the bad guys. Think about it. The next time you are introduced to some one new as a trader. Is this the characterization from this article the way you want to be pictured?
     
    #30     Jan 27, 2009