Your only source is covestor, everyone else will lie, as in the P/l 2009 thread where only winners are posted. It's highly suspicious, and, especially annoying when long term journalists go to be on there, then decide not to.
Its not just elitetrader that is full of lies, but the world of finance and trading in the broadest most general sense. Madoff is the most popular example. You will never truly know the real story unless you see account statements or tax returns and even then those can be faked. Many a fool has been duped out of his cash as a result of those on message boards. Beyond trading and finance, the world, in the most broadest and general sense, is full of lies and misrepresentations. There is no way you will ever know "the truth". Everyone lies and misrepresents to a certain extent. There are a few honest and upfront individuals in this world, but only a very few. No one is ever rewarded for being 100% honest, but just the opposite. The world encourages you to fib and lie to a certain extent. Les say a trader on here appears to make all the right calls. They can still be bad traders with poor money and risk management skills. Anyone can make a call, but not everyone can trade with real money. Tim Sykes seemed to manipulate Covestor so that is definately not the solution. In fact, I have seen young teenagers manipulate complex video games finding ways to cheat the program. If they can find cheats in complex video games then they will find a way to cheat covestor. Ronald Reagan had a saying that he sourced from an old Russian proverb. "Trust, but verify" You should generally trust people, but each step of the way rigorously verify what they are saying.
Don't give up, it can be done. You just need to make past the first 2-3 years of learning. Takes 4 years to get a college degree.
We right here and we are going nowhere Thats after 5years of doing everything, using this indicator and that guru and eventually settling down for my own method. I must admit I like ET kinda reminder in em early days
I wouldn't believe anyone unless you know them personally. I recently talked to a guru who charged $6,000+ for mentoring. He talked how good a trader he was....next I get an email saying he as quit trading and gone back to "work." W.T.F.! That does not mak sense. How do those people feel who shelled out $6,000 for mnetoring niow feel? Ripped off? There are too many big mouths on the Net. The successsful ones do not need to blow their own horn. I suspect the successful ones are not even aware of this "ranting lounge" All those "journals" about taking $25,000 to $2Million+ are either liars or gamblers. Best to take it ALL with a big pinch of salt....
That's actually a good way to live your life. Never take anything at face value. Verify it. How man scams would people avoid if they took the effort to do this? --------------------------------------------------- Ronald Reagan had a saying that he sourced from an old Russian proverb. "Trust, but verify" You should generally trust people, but each step of the way rigorously verify what they are saying.
This is a good question however the answer is when you stop seeking the holy grail, indicator system, etc and guru /teacher handholder you are on your way to be a good trader. I used to watch fast money every day, then I stopped when I realized that although these guys may be good traders, they will not add or subtract from my profit/loss statement. Et has many minefields in the form of wannabes, know it alls, etc. Take a look at the pnl thread to see the see saw that is trading. I went months in one account without a losing trade then I literally could not buy an entry for a few weeks straight. Trading is streaky sometimes. keep losses small. http://www.elitetrader.com/vb/showt...97&perpage=40&highlight=red ink&pagenumber=85 http://www.elitetrader.com/vb/showthread.php?s=&threadid=64965&perpage=40&pagenumber=1906