Today, I found this at a local thrift shop. What's interesting, is some poor sob purchased this one before the financial crisis for almost a hundred bucks. One of the first things I noticed when briefing through it, was a whole chapter dedicated to Mortgage Back Securities... tables for CDOs, etc. Oh boy, that did not end well! I wonder how the previous owner faired there...
The book didn't live up to the hype. According to Amazon "The insider’s guide to the secretive and lucrative world of professional trading. Journey with David Hale on his rollercoaster ride of a career as he reveals the rules that give the pros an edge and the secrets they don’t want you to know." This book not only shines the light on the firms and traders that inhabit this lucrative world, but also reveals the methods and approaches that these firms, and their 8-figure earning traders, keep guarded from the masses. These are the methods that allow top traders to gorge on fat profits while the masses are fed generic technical methods from their “gurus” on Twitter and YouTube. Although we got the story of the rollercoaster ride I might have missed the rules about the edge and the secrets the pros don't want me to know. Spoiler you need a glitch and a niche and oh yeah cut your losses. David it would have been interesting if you had related the process of going from being almost destitute to successful trader. How do you take a small account to a large account scalping equities?
I appreciate your feedback and honesty. Sorry if I overhyped my sales pitch, just want to get book out there and see what other traders think, I have no motives, not trying to hawk something, just giving a book away. Thanks for reading though, I am happy to get feedback, and would love to get a discussion going about glitch trading. I tried to explain what a "glitch" is, and this method of trading which is rarely, if ever talked about in books, online etc. I did explain some "glitch strategies" but didn't want to make the book too dry, just wanted to get the idea of this style out there. My tales and my own two eyes make me convinced this style offers the most edges, I have seen with my own two eyes how the top traders make their cash. The fact that even with my poor discipline I have stayed in game for 23 years shows must be lotta edge in these strategies. This style of trading isn't glamorous, but I am certain this style offers most edge. This interview from Chat with Traders is what I am talking about with "glitch trading" https://chatwithtraders.com/ep-243-moritz-seibert/
I can see how you would do this from the résumés you sent to prospective employers. As for a discussion on glitch trading, I'd say start a thread and see what happens. Showing an example of how you traded, how you would take a small account to a large account trade by trade would probably be of more interest to traders that saying you knew a guy who made a lot of money trading. I'm not sure about that, like they say, even a blind squirrel finds an acorn now and then, could just be luck. I'll take a look at this over the weekend. Thanks.
That's kind of what I expected, particularly from a 'day-trader' book. That said, one of the only Day-Trader books I'd be expecting REAL profits, with no hype needed, would be one written by Navinder S. Though, let's be honest, he did so by cheating the system. His manipulation of bots was still in violation... and that's why he ended in prison. I would have liked to read a biography on him starting out in his early prop-firm days. He was actually one of the only to make consistent profits there. Then he just got up one day and left to trade alone.
“That's kind of what I expected, particularly from a 'day-trader' book.“ lot of these “day traders” making tens of millions consistently. (Yes, I’ve seen PNL) ..and there is a well written book about Nav out there https://a.co/d/gbJuLBY
We have already discussed that book in this thread. That's not what I was getting at. And as for 'consistent tens of millions...' forgive me for being suspicious here. My bullshit detector is going off!
Kremlin plays down idea that Russia is preparing a nuclear weapons test Apr. 28th, 2023 reuters.com MOSCOW, April 28 (Reuters) - The Kremlin on Friday played down the idea that Russia might be preparing to carry out a nuclear weapons test, saying all nuclear states were abiding by a moratorium on the testing of nuclear weapons. ________________________________________ Excerpt from the book: Early in the morning of March 1, 1954, sometime around five or six o’clock, American planes dropped a hydrogen bomb on Bikini Atoll. Shortly before this happened, I had awakened and stepped out of my house. Once outside, I looked around and saw Billiet Edmond making coffee near his house. I walked up and stood next to him. The two of us talked about going fishing later in the morning. After only a few minutes had passed we saw a light to the west of Rongelap Atoll. When this light reached Rongelap we saw many beautiful colors. I expect the reason people didn’t go inside their houses right away was because the yellow, green, pink, red, and blue colors which they saw were such a beautiful sight before their eyes. The second thing that happened involved the gust of wind that came from the explosion. The wind was so hot and strong that some people who were outside staggered, including Billiet and I. Even some windows fell as a result of the wind. The third thing that happened concerned the smoke-cloud which we saw from the bomb blast. The smoke rose quickly to the clouds and as it reached them we heard a sound louder than thunder. When people heard this deafening clap some of the women and children fled to the woods. Once the sound of the explosion had died out everyone began cooking, some made donuts and others cooked rice. Later some men went fishing, including myself. Around nine or ten-o’clock I took my throw net and left to go fishing near Jabwon. As I walked along the beach I looked at the sky and saw it was white like smoke; nevertheless I kept on going. When I reached Jabwon, or even a little before, I began to feel a fine powder falling all over my body and into my eyes. I felt it but I didn’t know what it was. I went ahead with my fishing and caught enough fish with my throw-net to fill a bag. Then I went to the woods to pick some coconuts. I came back to the beach and sat on a rock to drink the coconuts and eat some raw fish. As I was sitting and eating, the powder began to fall harder. I looked out and saw that the coconuts had changed color. By now all the trees were white as well as my entire body. I gazed up at the sky but couldn’t see the clouds because it was so misty. I didn’t believe this was dangerous. I only knew that powder was falling. I was somewhat afraid nevertheless. When I returned to Rongelap village I saw people cooking food outside their cook-houses. They didn’t know the powder was very dangerous. The powder fell all day and night long over the entire atoll of Rongelap. During the night people were sick. They were nauseous, they had stomach, head, ear, leg and shoulder aches. People did not sleep that night because they were sick. The next day, March 2, 1954, people got up in the morning and went down to get water. It had turned a yellowish color. “Oh, Oh” they cried out and said “the powder that fell down yesterday and last night is a harmful thing.” They were sick and so Jabwe, the health-aide, walked around in the morning and warned the people not to drink the water. He told them that if they were thirsty to drink coconuts only. At three o’clock in the afternoon of March 2, 1954 a seaplane from Enewetak Atoll landed in the lagoon of Rongelap and two men came ashore. Billiet and I asked them why they had come to Rongelap and they responded by saying they had come to inspect the damage caused by the bomb. They said they would spend twenty minutes looking at all the wells, cement water catchments, houses and other things. The two men returned quickly to their plane and left without telling anyone that the food, water, and other things were harmful to human beings. Everyone was quite surprised at the speed with which the men surveyed everything in the island and then returned to their plane. People said maybe we’ve been really harmed because the men were in such a hurry to leave. Although they said they would look around for about twenty minutes, they probably didn’t stay here for more than ten minutes. So in less than ten minutes after their arrival on Rongelap, the two men had already taken off. On that day we looked at the water catchments, tubs and other places where there was a great deal of water stored. The water had turned a strong yellow and those who drank it said it tasted bitter. On March 3, early in the morning, a ship and a seaplane with four propellers appeared on Rongelap. Out of the plane came Mr. Oscar [DeBrum] and Mr. Wiles, the governor of Kwajelein Atoll. As their boat reached the shore, Mr. Oscar cried out to the people to get on board and forget about their personal belongings for whoever thought of staying behind would die. Such were the words by which he spoke to them. Therefore, none of the people went back to their houses, but immediately got on the boats and sailed to board the ship that would take them away. Those who were sick and old were evacuated by plane. From 1959 to 1964, many women gave birth prematurely to babies which looked somewhat like animals. Women also had miscarriages. During these years many other strange things happened with regard to food, especially to fish in which the fertilized eggs and liver turned a blackish color. In all my forty years I had never seen this happen in fish either on Rongelap or in any of the other places I’ve been in the Marshall Islands. Also, when people ate fish or [arrowroot] starch produced on Rongelap, they developed a rash in their mouths. This too I had never seen before.
I finished your book yesterday. Interesting read, and you had quite the rollercoaster ride. Glad it worked out in the end. What motivated you to write a book and just give it away?