who is your fav trader to follow?

marketsurfer · Jul 26, 2015

volpunter said:
oh right, he only closed his funds several times, each time he finds new schmucks to invest money with him, he burns right through it. The first time around he had to sell all his personal assets, all the way down to art collections and silverware. So, let me ask you, how did he make his investors whole the 2nd, 3rd, and 4th time around? I think it is you who is deluded...
More...

Man, are you an ignorant loser.

The most sophisticated investors on earth have invested with VN. I can't name them here but suffice to say we are talking about highly sophisticated groups. So STFU with the damaging misinformation.

surf

galvinlee888 · Jul 26, 2015

Beyondbreakeventrading said:
“There are two realities. At the moment of execution, at the very moment of execution, a trade is 50/50, and if you believe you have an eighty percent or a ninety percent win, edge, you’re delusional. It is 50/50. So what I tell traders is that there’s two realities. So, let’s say price is in a range just for our listeners who are really listening still, and you get an aggressive move into the high of the range. You have two realities. One, it’s going to be a breakout, or two, it’s a fake out. So you can either elect to go long, and execute a long, or you can elect to go short. At that moment in time of execution…both are correct, at that very moment in time. And I talk to my traders about, that’s what makes you good, not caring about getting a trade that wins but doing the right thing at the moment of execution. So where I strike and I go short and you go long, we both are right at the very moment we both did what we said we were going to do. So those are the ones that are exceptional traders. They understand that really there is (sic) two realities and the only way you are going to know the outcome is, as time plays out and the charts actually play out, and they’ve come to accept that and they truly believe it, and that’s what allows them to execute.” - Kim Krompass interview on The Trading Lifestyle Podcast.
.
More...

This is so true !! The only things is the odd is actually less than 50/50 when you take into account of commission & slippage (it is getting even worst when you are using leverage).
This is the reason not even the institutional are profitable in this kind of speculation. The money making part for them is the brokerage side of house - commission, market making, selling some complex financial products and etc.

Long term investment is completely different type of animal. You are actually betting on the equities that will move higher in long term due to either inflation, government interception (such as QE regardless if you like it or not), economy growth, currently devaluation and etc.

volpunter · Jul 26, 2015

Niederhoffer should be in prison behind bars after having grossly violated his fiduciary duty not once, twice, but multiple times. His arrogance stinks to heaven and got him exactly where he belongs. A former sports champion who has to repeat the same story of his young adulthood because he has nothing else to show for from more recent times. It's all documented in his own books. Not one single thing I mentioned is fabricated.

marketsurfer said:
Man, are you an ignorant loser.

The most sophisticated investors on earth have invested with VN. I can't name them here but suffice to say we are talking about highly sophisticated groups. So STFU with the damaging misinformation.

surf
More...

EPrado · Jul 26, 2015

Beyondbreakeventrading said:
That would depend upon what you mean by "follow." If by follow, you mean copy, then no one. If you mean advice and guidance, it would be Jason Alan Jankovsky and Peter Brandt. Despite the fact that Brandt is an extreme long term trader, his ideas translate into shorter term trading because he is an actual trader.

I've recently listened to Kim Krompass and found her viewpoint to be spot-on for what I believe the approach a successful trader should have. I know she has a subscription trade room, so she's a day trader, and she doesn't use indicators, just the price. She trained under John Person, who is also a very sharp trader and educator. (let me hunt around in my email for a quote)

Found it:

“There are two realities. At the moment of execution, at the very moment of execution, a trade is 50/50, and if you believe you have an eighty percent or a ninety percent win, edge, you’re delusional. It is 50/50. So what I tell traders is that there’s two realities. So, let’s say price is in a range just for our listeners who are really listening still, and you get an aggressive move into the high of the range. You have two realities. One, it’s going to be a breakout, or two, it’s a fake out. So you can either elect to go long, and execute a long, or you can elect to go short. At that moment in time of execution…both are correct, at that very moment in time. And I talk to my traders about, that’s what makes you good, not caring about getting a trade that wins but doing the right thing at the moment of execution. So where I strike and I go short and you go long, we both are right at the very moment we both did what we said we were going to do. So those are the ones that are exceptional traders. They understand that really there is (sic) two realities and the only way you are going to know the outcome is, as time plays out and the charts actually play out, and they’ve come to accept that and they truly believe it, and that’s what allows them to execute.” - Kim Krompass interview on The Trading Lifestyle Podcast.

“They’re not going to be exceptional traders. They doubt themselves, they hesitate, they don’t take…they’re not willing to take a stand win or lose. And that’s what I tell traders, you have to be willing to take the trade, win or lose. And stop worrying about being right, it’s about doing the right thing, which means executing.” - Kim Krompass interview on The Trading Lifestyle Podcast.

This is who I am as a trader, so naturally when I heard this, I transcribed the interview into my notes. Love these quotes.
More...

“They’re not going to be exceptional traders. They doubt themselves, they hesitate, they don’t take…they’re not willing to take a stand win or lose. And that’s what I tell traders, you have to be willing to take the trade, win or lose. And stop worrying about being right, it’s about doing the right thing, which means executing.

This is a great quote. VERY VERY TRUE. Overthinking and hesitancy is a death punch when trading. You are toast if you start overthinking....

marketsurfer · Jul 26, 2015

volpunter said:
Niederhoffer should be in prison behind bars after having grossly violated his fiduciary duty not once, twice, but multiple times. His arrogance stinks to heaven and got him exactly where he belongs. A former sports champion who has to repeat the same story of his young adulthood because he has nothing else to show for from more recent times. It's all documented in his own books. Not one single thing I mentioned is fabricated.
More...

Complete falsehoods. Your ignorance is stagering. Jealousy must suck. Why don't you say these things under your real identity, wee man?

Redneck · Jul 26, 2015

Beyondbreakeventrading said:
“There are two realities. At the moment of execution, at the very moment of execution, a trade is 50/50, and if you believe you have an eighty percent or a ninety percent win, edge, you’re delusional. It is 50/50. So what I tell traders is that there’s two realities. So, let’s say price is in a range just for our listeners who are really listening still, and you get an aggressive move into the high of the range. You have two realities. One, it’s going to be a breakout, or two, it’s a fake out. So you can either elect to go long, and execute a long, or you can elect to go short. At that moment in time of execution…both are correct, at that very moment in time. And I talk to my traders about, that’s what makes you good, not caring about getting a trade that wins but doing the right thing at the moment of execution. So where I strike and I go short and you go long, we both are right at the very moment we both did what we said we were going to do. So those are the ones that are exceptional traders. They understand that really there is (sic) two realities and the only way you are going to know the outcome is, as time plays out and the charts actually play out, and they’ve come to accept that and they truly believe it, and that’s what allows them to execute.” - Kim Krompass interview on The Trading Lifestyle Podcast.

“They’re not going to be exceptional traders. They doubt themselves, they hesitate, they don’t take…they’re not willing to take a stand win or lose. And that’s what I tell traders, you have to be willing to take the trade, win or lose. And stop worrying about being right, it’s about doing the right thing, which means executing.” - Kim Krompass interview on The Trading Lifestyle Podcast.

This is who I am as a trader, so naturally when I heard this, I transcribed the interview into my notes. Love these quotes.
More...

Now this right here..., is really good stuff (wished we had started out with this when first meeting couple day ago)

My apologies to you Sir

RN

Redneck · Jul 26, 2015

marketsurfer said:
This is very true. So, doesn't it stand to logic that making random entries would work?

surf
More...

No.., because random entries could very well have one entering - repeatedly - counter to the current prevailing move (not contemplating RTM trading in this sentence)

and / or

Entering.., when mkt conditions say one should be sitting out / simply observing

Proper trading entails much counter intuitiveness (defying typical.., and often - superficial logic

RN

volpunter · Jul 26, 2015

why would I be possibly be jealous about a guy who not only failed his career several times but failed is family in the process as well? Is this guy's ego only broken when he is diagnosed with a terminal illness? Goodness, some really try to read signals in the market each day but ignore the glaring signals of life that hits them in the face. No bud, if anything I feel empathy and pity for Niederhoffer.

marketsurfer said:
Complete falsehoods. Your ignorance is stagering. Jealousy must suck. Why don't you say these things under your real identity, wee man?
More...

justrading · Jul 26, 2015

marketsurfer said:
Vic niederhoffer on twitter. Guy isnt a day trader but has incredible insight gleaned from a lifetime in the markets. Pretty funny too!
More...

Surf, I rely very heavily on Twitter as a breaking news source, so when you mentioned VN on Twitter, I was more than happy to check him out.

Could you help me to understand what he means by "big earnings announcements tend to reverse from day to day"? These are discrete events, and he is looking for patterns? How is that any different from charts, moon cycles and tea leaves? Is he getting senile?

https://twitter.com/vicniederhoffer/status/625432633217032192

https://twitter.com/vicniederhoffer/status/625428373301542912

marketsurfer · Jul 26, 2015

justrading said:
Surf, I rely very heavily on Twitter as a breaking news source, so when you mentioned VN on Twitter, I was more than happy to check him out.

Could you help me to understand what he means by "big earnings announcements tend to reverse from day to day"? These are discrete events, and he is looking for patterns? How is that any different from charts, moon cycles and tea leaves? Is he getting senile?

https://twitter.com/vicniederhoffer/status/625432633217032192

https://twitter.com/vicniederhoffer/status/625428373301542912
More...

Good observation. vn believes in something he calls "everchanging cycles". I ask him specifically about this seeming contradiction in our interview from about a decade ago. Its all over the web, just google it.

Surf