I am interested to hear what kind of traders you know that are trading and making some good money. What markets, what time frames, how much return, what kind of trading strategy? One I will mention trades across a bunch of different futures markets. He doesn't use charts but rather trades from watching correlating markets and watching the DOM. He is most active in grains, but also trades in gold, equity futures...pretty much where there is movement. He is one of the few people that I know that make consistent money. At a prop firm I was at in 2007 we had a guy who was making 5 or 6 figures a day. He may have had a couple of 7 figure days. As far as I know he was trading discretionary on a relatively short-time frame. So not necessarily day trading. I can't tell you much more than that. I know plenty of stories from the trading pits but those aren't really relevant to today. That edge is gone and most of those guys have difficulty trading on the screen.
The traders who manage OPM. 2% fees per month is 24% a year, plus share in gains if any, and free put on losses. In total they are long a bond paying 2%, and own a free call on the market. Bond is also free. If you liked it, quote it and add +1.
Tradingjournals has been on my ignore for a little while. He's a babbling moron (but probably a nice guy in person). LOL
So what's the big deal, then? If our friend TradingJournals is indeed a "babbling moron" like you said (how rude, shame on you), then fade his trades and you will make money, no? Otherwise leave him alone, he has the right to express himself like anyone else in this forum.
+1? You mean MINUS 1 Bpatson. You can ALWAYS learn something new from a fellow trader, good or bad, if you can check your ego at the door. Humility is the key word here ...
That's crap. If somebody is a waste of time or worse more often than not, just put him on ignore and be done with it. The chance that he may say something worthwhile every hundredth post or so isn't worth the intervening aggravation. It's a percentage game just like trading. You know you aren't going to win every trade so you size your positions accordingly. The notion that you should put up with every poster on the negligible chance that all will sooner or later post something worthwhile is a very low probability strategy.
My friend, one day you will realize that you still have a lot of things to learn. Humility is one of them. Here is a quick tip : you can ALWAYS learn something new even from seemingly perfect "idiots". I will let you meditate on that...