(Don't look now but there's a Mynd66 just above these couple of posts. This is damn scary. Gay porn? You can't argue with gay porn. Sssshhh ... I was never here. I'll iggy suma66 and mand66, but clearly they're multiplying at breakneck speed. Take care man :eek: and watch yourself)
I'm becoming more and more convinced that an internet forum is where the sickest of the sick can attain equality with the best of the best... almost any intelligent and well expressed post will get a response similar to gorillas throwing monkey shit at zoo visitors..
This from the deadbeat who posts advice on how to be a "better" deadbeat: I defaulted two and a half years ago... you can stop the calls by... Stop feeling like you should pay it back... making no payments to collectors makes the most sense... http://www.elitetrader.com/vb/showthread.php?s=&postid=2414797#post2414797
My apologies Topsurfi, it was not your comment I intended to quote, I don't know how our comments got linked. We are saying the same thing. 0 sum game. A lot of stupid people. If a person cannot trade option greeks they have about a 1% chance of making it as a professional trader. I have been building a system and was wanting to hear about others who have done what I am doing. Coming to this site is the equivalent of a trained plastic surgeon looking for professional links and ideas in a tabloid. One can spend hours and hours reading a hundred comments of moronic drivle to find one bit of truth, which does fit nicely with the ratio of successful vs idiot futures traders. The bottom line is if a person does not have math ability, where I have a Master's in Quant Finance, and if the person is not willing to do thousands of hours of study and design before going live, they will likely find the hell for idiots who had money. This is not a profession for the uneducated, the lazy, low IQ (I mean this in the most scientific way, you really have to have this), nor the wishful thinker who may think they can just make a living playing futures roulette. If you want to trade as a professional you have to become a professional. Most professional traders in the financial industry are highly quantitative individuals with advanced University degrees. They have put tremendous levels of work and study to get where they are. And no, they are not playing silly little day trading systems with futures and cash. The pros back all their systems with option structures. If you can't hedge a delta you'd just better forget about trading or go back to school.
Which may explain why misfits like this try to defend Jack Hershey with smoke and mirrors when it's shown the emperor wears no clothes: suma66 -- the liar who was banned under the nic supermandel666 for posting gay porn while trying to smear "the B Team" in defense of Hershey vienna -- who got suckered out of $80,000 by John Carter eight -- the deadbeat who posts advice on how to be a "better" deadbeat
Overall the pros don't do well though.. In fact they make the biggest blunders of all. To wit: LTCM. very few mutual funds beat the indexes in a good year and some lose in good and bad years. Lots of hedge funds have melted down in the current financial crisis and it was predicted ten years in advance... Personally I don't think the PhD pros are worth shit at much of anything, I would hire them if I had a software project maybe. There are lots of guys that get on their screens every day and crank out a living using just volume and price analysis and some chart geometrics... and who cares about the 90% lose argument.. 10% win... One more reason that ET is bad for traders... people tell us that we have to have PhD's to trade... I should keep a database of all the reasons ET is bad for traders, they are many, and my ignore list grows daily the more reasons I find.. eventually I will just shut the thing off entirely.. we had some guys come on her a year or two back and tell us that they were highly educated professionals in the field of finance, they were professors at a big school somewhere, and they presented proof that trading cannot be done. Oh such proof, zillions of data points going back the better part of a century, analysis by people with tremendous educations, it was a sight to behold. They were serious guys looking for comments from traders.. on a site owned by guys that made $100,000,000 in their own lifetimes by trading and teaching trading...
in this case I apologize for my rough post of course. I failed in building a system up to now. I began to understand that the intuitive part of your brain (after 10 years watching every the future tick) is a very powerfull tool if you can control the negative parts of intuitiv trading (not committing beeing wrong etc.). That said, I think it can be done but as you already mentioned you need analytic skills that are fare beyond the average level here in ET. And I think that there will always be a distrectionary part because you will always have to decide which system to use when.
Why are you comparing fund managers to prop traders? There is no comparison. A prop trader in a bank is trading, a hedge fund or any type of fund is investing client money, that is 'NOT' trading. One cannot trade with the same dynamic on 100MM of capital as they can with 50k, obviously. Comparing the returns of investment funds to short term prop trading is just stupid. Learn how to trade like a market maker or a floor trader with options and there is an opportunity, if you can do it. It's not that hard but it takes a lot of work. Your price and volume fantasy is just that. Those professors were correct. The market will take your money if you are not able to use advanced techniques. But please, I am happy to take your money, keep up the good day trading.
I wouldn't put much stock in anything "Eight" says... Do blacks ever work? Anywhere on the planet? http://www.elitetrader.com/vb/showthread.php?s=&postid=2445966#post2445966 'Ya know, Blacks vote Democrat, and that makes them real people. They should get free houses and cars. And those unreal whitey Republicans should pay for it too... http://www.elitetrader.com/vb/showthread.php?s=&postid=2418202#post2418202 I defaulted two and a half years ago... you can stop the calls by... Stop feeling like you should pay it back... making no payments to collectors makes the most sense... http://www.elitetrader.com/vb/showthread.php?s=&postid=2414797#post2414797
LOL Trader666 You've prety much nailed Eight as being one of the biggest losers on the board! On top of that, he's just a paper trader at heart, and not a very good one at that. Link *** When you consider that, along with the fact that Vienna was ripped-off Madoff style by John Carter to the tune of $80,000 a "profile" emerges of the average hersehy trader .. and it ain't a good one! :eek: At the end of the day, I think these people are more to be pitied rather than deserving of anyone's anger, it's obvious that they are completely incompetent when it comes to money and want to do better for themselves, and maybe jack hershey represents a viable option to them (maybe the last one) ...