Use what as an excuse? It's a simple truth that comparing to when traders were doing well, right now is a worse time. People are still making money, but well below what they were used to making over this past year. That means they are not doing that well relatively. WTF I feel like he is bashing me because I'm stating what is essentially a fact?
Merco- Take a breather here Bro. Wasn't try'n to piss you off. However, it is getting to be more than tiring to click through threads on ET having to wade through the bullshit posts of whiners each day, complaining how *ucking bad market is, has been, WILL be.. etc... You would not believe how big my ignore list is for this site. At the rate I'm going, I'm finding it hard to keep checking this site for relevant information pertaining to trading.... With that said. I MUST point out to you, and I think you would agree with this, unless you are in COMPLETE DENIAL of anyone out there making any good money. From YOUR perspective, there aren't a n y traders out here making consistent profits? <----- Is this a correct paraphrased sentence? I snapped quickly at you before, because that is what was glaring me in the face, in your earlier statement. Yes, I realize that there is piss-poor management at many a Prop firms throughout the Nation. However, that is not a direct function of the market my friend. Lets call a spade a spade here a recognize that any business poorly run in a *hitty economy is going to be in jeopardy regardless of its sector or industry. Now, with that said, back to my original reason for engaging you in dialogue in the first place. It wasn't to get you tee'd off. You came across as a newbie to me and I don't mean that in any derogatory way. Simply to say that your experience thus far has been lackluster at best. Moreover, your witnessing of what in your opinion are Really good traders not performing well, or in fact sitting out the market days, etc.. is not exactly confidence inspiring. So I can completely understand your skewed view of, "How *hitty market has been" Ok, now for the reality check. I have never shared this openly with people here on ET because quite frankly I don't believe that more than 10% of the people who post here are True Daytraders. Let me further clarify- my operational definition of "True DT" One who trades solely for a living, relying only on daily trading profits to survive and eek out his/her existence. I personally have worked with a gentlemen that starting in Oct. of last year, changed my entire perception of what it means to trade the market. I have trained under him and have personally watched him execute trade after trade in front of me day after freak'n live-long day. I can count the days that he ended net negative for the day on two hands and still have fingers left over.. Each and everyday he derives a paycheck from the market. It is possible, NOT EASY, but possible, as I witnessed him do it, many, many times in ANY market condition you can name, YES, even this one we are in now. Whereby, trading from opening whistle to closing bell, deriving 27-45pts. e-mini Nq each day ~avg. However, my point is not to demoralize you. My point is, even before I met him, sitting here behind my screens, breakeven to sometimes losing my ass, I never once told myself that this market is just too damn difficult or etc.. In fact, to the contrary, I usually ended the day staring at the chart saying.... Man... someone made a killing today. Its simply a difference in viewing the world I guess. To hear you explain and attempt to rally the crowd into commiserating with you is just wasted energy in my opinion. I doubt you'll take a step back and even consider what I'm telling you, but I'll take a chance on this trade and hope that telling you a little of what I've experienced will at the very least give you some inspiration to keep trying and either figure it out on your own, or seek out those with the knowledge of a lifetime-in trading to get you out of the starting gate. in any case, have a great weekend. peace- momo
All the whiners seem to forget that their reality is limited to the other traders they talk to and trade with. If they are sucking wind, then they assume we all must be. However, as has been pointed out in several threads already, the people who have kept a positive attitude, have been open minded to change, and have worked their ass off trying to find new ideas, are still making money. I've worked twice as hard at maximizing the edges that still work for me, realized that the marginal strategies aren't worth the risk and have found a new style that's working great. I'm on pace to double what I earned last year. So suck it up and work, or fade to black as a trader.
Finelly, I hated that place for years. I hope they go under soon. They are difenetelly the evil of the trading industry. If you want a good firm to look at, check out Echo Trade; friendly people, reasonable, negotiable, very easy to deal with, great rates, and good software. A pleasure to work for, i left worldco and joined these people. So far i am loving it. I checked out a lof of other places that people rave about before coming to this one. One of the worst was RSG, what a bunch of amatuer snobs pretending to know what they are doing. They try to make u feel low for looking at their firm and pretend as if they don't need u. They don't even have a number to reach them at, and it was a hassle to get a hold of them in the first place. Rot in hell Boris!!!
eloquent.. well said, good words one suggestion...flexibility with your goals, you might reach them all in one afternoon, and give them back the rest of the week, month or quarter.... keep the faith, stay focused and do well....
trading the Emini's does allow what you described... was he also trading, scalping, swinging stocks? or just futures? it would appear that the futures provides a much cleaner line of sight on the trends than trading a basket of favorite equities...
OK this I have to rip apart "Take a breather here Bro. Wasn't try'n to piss you off. However, it is getting to be more than tiring to click through threads on ET having to wade through the bullshit posts of whiners each day, complaining how *ucking bad market is, has been, WILL be.. etc..." Ok so it sounds like the current trading environment is great? Maybe that is what I should think. Maybe you should reread what I posted and notice that I believe that I am doing quite well considering the current trading conditions. Im not bitching about them but simply recognizing the fact that the current market is probably the worst trading environment in the past year. "You would not believe how big my ignore list is for this site. At the rate I'm going, I'm finding it hard to keep checking this site for relevant information pertaining to trading...." No offense but with your negative comments, I do not care whether you post. "With that said. I MUST point out to you, and I think you would agree with this, unless you are in COMPLETE DENIAL of anyone out there making any good money." Can you read? Let me quote myself "People are still making money, but well below what they were used to making over this past year. That means they are not doing that well relatively." Yes there are guys in my office that are making good money, at least it is still good money to me. To them, relatively it is worse than how well they were doing 3 months ago. So somehow this equates to the same or better trading environment? "From YOUR perspective, there aren't a n y traders out here making consistent profits? <----- Is this a correct paraphrased sentence?" Quote me because I never said that. I did mention in other posts that some of the guys are actually having days where they made no money net and that is very out of their style. "I snapped quickly at you before, because that is what was glaring me in the face, in your earlier statement." What? Recognition that the market is not trading normally? "Yes, I realize that there is piss-poor management at many a Prop firms throughout the Nation. However, that is not a direct function of the market my friend. Lets call a spade a spade here a recognize that any business poorly run in a *hitty economy is going to be in jeopardy regardless of its sector or industry. " Dude WTF are you talking about? "Now, with that said, back to my original reason for engaging you in dialogue in the first place. It wasn't to get you tee'd off. You came across as a newbie to me and I don't mean that in any derogatory way. Simply to say that your experience thus far has been lackluster at best. Moreover, your witnessing of what in your opinion are Really good traders not performing well, or in fact sitting out the market days, etc.. is not exactly confidence inspiring." Maybe we should just do simple average of how the top traders were doing 6 months ago and how they are doing now. Regardless, they are doing well in my eyes, but relatively to previous performance, they are not doing well. It's a simple truth and it is like this all across the world. "So I can completely understand your skewed view of, "How *hitty market has been"" Skewed? It is in no way skewed. Maybe realistic. "Ok, now for the reality check. I have never shared this openly with people here on ET because quite frankly I don't believe that more than 10% of the people who post here are True Daytraders. Let me further clarify- my operational definition of "True DT" One who trades solely for a living, relying only on daily trading profits to survive and eek out his/her existence. I personally have worked with a gentlemen that starting in Oct. of last year, changed my entire perception of what it means to trade the market. I have trained under him and have personally watched him execute trade after trade in front of me day after freak'n live-long day. I can count the days that he ended net negative for the day on two hands and still have fingers left over.. Each and everyday he derives a paycheck from the market. It is possible, NOT EASY, but possible, as I witnessed him do it, many, many times in ANY market condition you can name, YES, even this one we are in now. Whereby, trading from opening whistle to closing bell, deriving 27-45pts. e-mini Nq each day ~avg. " What are you trying to prove? I see this in the office everyday and it even happens with me. But unlike you, I can compare and notice how the market may trade differently due to insignificant factors like...oh let's say Iraq war and uncertainly, rebuilding of Iraq and so on. "However, my point is not to demoralize you. My point is, even before I met him, sitting here behind my screens, breakeven to sometimes losing my ass, I never once told myself that this market is just too damn difficult or etc.. In fact, to the contrary, I usually ended the day staring at the chart saying.... Man... someone made a killing today." You really need to reread what I posted. "Its simply a difference in viewing the world I guess. To hear you explain and attempt to rally the crowd into commiserating with you is just wasted energy in my opinion. " Ok now you are really talking to the wrong person "I doubt you'll take a step back and even consider what I'm telling you, but I'll take a chance on this trade and hope that telling you a little of what I've experienced will at the very least give you some inspiration to keep trying and either figure it out on your own, or seek out those with the knowledge of a lifetime-in trading to get you out of the starting gate. in any case, have a great weekend. peace- momo" I would consider what you said if you had even bothered to read what I said. I never came in and stated "god this market sucks" I actually put it in the positive note as a sign of my progress. Ok maybe you refuse to recognize simple facts, but the current trading environment sucks. Forget 1999, just comparing it to 3 months ago, I see a difference in the way the stocks that we aim for trade. They are very sensitive to the S&P futures and they never used to be. That alone makes it a difficult trading environment.