why this board isn't healthy if you trade for a living

skot99 · May 31, 2009

Quote from Ken More:

"The bottom line is that electronic day trading is extraordinarily risky. To avoid the inevitable confrontation with ruin, the day trader should ask, "Why not do something less risky, like throwing all my money off the roof of a tall building and keeping what the wind blows back?"

I'm living proof this is bull$hit! BTW, I read this book and chucked it in the trash along with 200 other worthless books on trading that never made me money.

I never made a dime until I went out on a limb and did it entirely on my own with no crutch.

Several years ago, I made a conscious choice to NOT buy a seat on the Merc and initiate electronic trading instead. This has worked out spectacularly for me. I get to live where I want and trade from where I want. The last place on earth I would want to live is Chicago.

The amount of risk is controllable. Think about it! Just because you are a net loser doesn't mean others are.
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Exactly. I don't know why I read the trash on this site, so many frikin losers. People unable to do simple arithmetic should probably investigate another line of work. Think about this. It's a zero sum game. If all you losers are losing, somebody is winning your money. Don't be stupid, do what they do.

skot99 · May 31, 2009

Quote from Topsurfi:

its not really surprising that most traders fail isn't it ?
I think (and I am confirmed in that view by looking around in this forum) that people who try to daytrade are in average not very smart people because in a lot of cases they may have failed to get a "real" job. There are only few people who could also get a well paid job elsewhere with more than 200k per year but have decided to trade because either they like to do it or they earn more money there.
But anyway...
If it is true, that 95% commit money to the market it should be also obvious, that (since the money does not evaporate) there are some people out there, who catch that money. True ?
Of course you could assume, that all daytraders commit their money to the swingtraders but I don't think the statistics in swingtrading is much better than that in daytrading. People who fail in daytrading will also fail in swingtrading.

So bottom line is that there ARE net winners in this game, even if the %tage might be very small.
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A logical conclusion for someone such as yourself who clearly failed grade 2 math and is still having issues with the most finite and linear of basic addition. I can't wait to put your losing trades into my pocket.

What would please me more however is if all the losers and pathetic people crowding out this site would just read and keep their moronic vomit in their deep meaningless holes. Go get yourselves jobs that require IQ levels in your range and stop making a mockery of this site.

Smurfie · May 31, 2009

suma66

Why go as low as Trader666 who spends every waking moment in his cold dark basement organizing links, posts and any type of controversial material dating back to the early 80's? He lost all contact with the real world. He doesn't even know what fresh air smells like, doesn't know what a sunny day feels like or what its like to bbq or go shopping. Do you want to end up like that?
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You, sir, seem top know an awful lot about Trader666's basement! His life as well. Coincidence?

Topsurfi · May 31, 2009

Quote from skot99:
A logical conclusion for someone such as yourself who clearly failed grade 2 math and is still having issues with the most finite and linear of basic addition. I can't wait to put your losing trades into my pocket.

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I have a PH.D in Physics and earn more money in a week than you will most probably earn in your whole useless live.
But I do love the fact that there are people out there like YOU commiting money to the market even if its only peanuts.

nice regards from Germany !

suma66 · May 31, 2009

Quote from Smurfie:

suma66

You, sir, seem top know an awful lot about Trader666's basement! His life as well. Coincidence?
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I'm sorry I sense a bit of sarcasm, didn't mean to rain on your Jack parade and insult your captain, t666. The only coincidence is that you both share the same obsessive mental disorder and happen to be on the same site stalking the same person!!

Smurfie · May 31, 2009

Kudos to suma66 for that sharp observation. Yes, two posts clearly equals obsessive mental disorder and stalking. I'm out of control

I raised some valid points I believe but you have just dismissed them with an air of grace, proportion, light humour and some crushing arguments. I salute you! I'll go look for a 12-step group now.

Carry on without me good people. You rock! I shall miss the razorsharp analysis of the first principles of trading. Godspeed!

Cheers,

Smurf

mynd66 · May 31, 2009

Quote from Smurfie:

Carry on without me good people.
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Although it will now be difficult we will none the less try and move forward.

Trader666 · May 31, 2009

Smurfie, suma66 is a stalker who likes to project his issues on others. He's also a liar and got himself banned under the nic supermandel666 for posting gay porn in his attacks on the B Team. Which shows the quality of the arguments and people supporting Hershey. Just put the loser on iggy

Quote from Smurfie:

Kudos to suma66 for that sharp observation. Yes, two posts clearly equals obsessive mental disorder and stalking. I'm out of control

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Trader666 · May 31, 2009

Beau, suma66 is a liar who got himself banned under the nic supermandel666 for posting gay porn in his attacks on the B Team. Which shows the quality of the arguments and people supporting Hershey. Just put the loser on iggy

P.S. Here's what happened when I challenged Jack to a trading contest:

http://www.elitetrader.com/vb/showthread.php?s=&postid=1089241#post1089241
http://www.elitetrader.com/vb/showthread.php?s=&postid=1089742#post1089742
http://www.elitetrader.com/vb/showthread.php?s=&postid=1089925#post1089925
http://www.elitetrader.com/vb/showthread.php?s=&postid=1091102#post1091102

Quote from bwolinsky:

I'm the only one who ever churned out a profitable version, and it hasn't worked since I released it. I definitely haven't blown out my account, and you have some reading comprehension issues if you thought I ever traded anything that wasn't my own.
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Trader666 · May 31, 2009

I see that no koolaid drinkers can intelligently debate this. Why doesn't that surprise me?
http://www.elitetrader.com/vb/showthread.php?s=&postid=2446586#post2446586