...I am humbled. Where can I find the Newbie Trader Index? Also I will rush out and investigate the wisdom of market academics. They are so famous for their trading acumen. I have yet to read one of their papers which suggested they had a clue about how to trade. Don't take my goading of you personally. It is just demonstrably the best way to get a semi-coherent thought out of you. The creative pressure of debate, you know. I am absolutely convinced that you have something of great value to offer but I can't grasp it through the fog of illogic. Since you know Levy (you undoubtedly read the original publication), perhaps we could change to French to improve the clarity of the exchanges. Best regards, and I hope you make money randomly today. - Mike
I like to wade through ALL the academic BS and get right to the meat of it. You are right to quit trading if you can't figure out the market and that was your original intent! However, if your original intent was to extract $$$ from the market on a consistant basis then all you have to do is NOT RE-INVENT THE WHEEL. Simply put, find someone who has already figured it out and just follow there lead. Again I find myself talking about MarketSurfer because his approach is quick and simple (unlike mine). No I dont work for him & I'm not a client I just think his style is "perfect" for the newbie or the disgruntle trader. My approach is great but will require a tad bit more work on the part of the reader. I give alot of technical info & charts. Heck, you could follow both of us. We both post here on ET for "free". what else could you ask for. MS is up hundreds of points so far in the last several weeks. And I quite often buy the low's & sell the highs of the day in the NQ & ES. Take your pick. But dont give up on your dream of extracting profits from the market. That would be like closing your bank account because you couldnt figure out how the bank computes its interest charges on commercial loans.
"As for you, MAN, go look up "sycophant" in your English to X-language dictionary." seems to me that i am able to be critical and polite at the same time. i had harder discussions with harry at other places. did not see any necessity to discuss in the way you are obviously preferring here. and i am a little astonished for being insulted by a person i did not even talk to. seems like you have so much anger for harry that you need to be aggressive against everybody who is not offending him. looks like you have a problem with him. that indicates you have a problem with yourself. otherwise why would you care about what he is saying? sorry to waste your time with reading this - just helped to get rid of my anger with your quite weird post. peace
...it is evident that Harry desperately wants to communicate SOMETHING. Otherwise he would not derail so many threads misdirecting them back to his pet theory (whatever it is) and create so many new threads with essentially the same content. My beef is that it is impossible to tell from the content of his posts whether he is a con artist trying to buffalo idiots into thinking he's on to something, or whether he is simply incoherent. Logic is not a function of the language one thinks in. If Harry would logically compose his thoughts in his native language, translate them into English, and sprinke a few indefinite articles in to make it look halfway idiomatic, he would communicate better. My objection to you is that you seem to follow him around, and don't improve the quality of the dialogue. If YOU know what the hell he means, please enlighten us. Perhaps what he needs is an amanuensis.
Wow...5 years and he's calling it quits! Takes 5 years to become a MD, lawyer, pharmacist, etc.....There are still too many novices at the prop firms, folks with a few thousand bucks (or less) and no real knowledge of the consequences of their actions controling hundreds of thousands or even millions of dollers in securitires. When a firm like Shoney gets down to 100 traders and the SEC cracks down on prop firms esentially using exempt credit to destabilize markets, we will be back to a more "normal" trading envioronment
DUDE! I have to disagree. Dont blame the number of participants in market as the reason why you cant get a trade off. Now this IS NOT a personal attack against you. I have read the comments here and it would appear that people think that the number of participants dictate an effecient market???? Thats RUBBISH!! The FOREX MARKETS trade like 100 times the $$$ volume of the NYSE and yet its markets are EXTREMELY effecient!!! Remember, your comment is quite the opposite. The more novices with deep pockets the more "lunch money" for you & I.
LOL T-Rex ....wasn't commenting on the abililty or inability to get trades off....just on more "normalcy" in the markets......As far as I know....the last time 10% margin was available to stock traders was in the 20's.........I'm not saying that caused that crash.....just exacerbated it.......
Thats a great point but as far as the "When to call it quits as a trader" question is conscerned .......there is still great opportunity just about every day in the stock & Stock index futures markets. It does not matter the skill level of the participants.