How Do DayTraders Make Money in the Futures Market?

This is a discussion on How Do DayTraders Make Money in the Futures Market? within the First Steps forums, part of the Reception category; thx for the advice...lol... If you can't grasp that chart then imo you have no business daytrading either! lol this ...

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Old Jul 1, 2009, 8:33pm   #91
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mechanicaldaytrader started this thread thx for the advice...lol...

If you can't grasp that chart then imo you have no business daytrading either! lol

this will be my last post on this thread for the time being..check the website in a week for the trade journal entries. You don't know the Dow Behaviors (they were promulgated in 2008); Kindergarten Trades were developed in late 2008.

So, be careful in giving advice to strangers cuz you don't know of what you speak. Ken the spam-man-blog never even learned the methodology - 5 pages of big type and color pictures...geeze that's real hard dude. So the guys throwing arrows don't know what they speak of and they will not prove it. Typical online behavior, imo.

Happy Fourth of July to all the Americans, don't mean to rub it in for the Brits!

Stuart
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Old Jul 1, 2009, 8:41pm   #92
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No, thank you for the advice. What I mean is that anyone can take a screen shot of a chart then put arrows on it, right? Did you place documented trades where your arrows are? This gets old, so I will sum it up: THIS CRAP DOESN'T WORK. NO ONE IS USING IT AND MAKING MONEY OFF OF IT. WHAT IS THE POINT OF GIVING STUART YOUR MONEY IF THIS CRAP DOESN'T WORK!!!!
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Old Jul 1, 2009, 10:04pm   #93
 
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Who are the people still giving you their money?
The ones that live in hope.
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Old Jul 1, 2009, 10:20pm   #94
 
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Quote:
Originally Posted by vrtrop22b View Post
No, thank you for the advice. What I mean is that anyone can take a screen shot of a chart then put arrows on it, right? Did you place documented trades where your arrows are? This gets old, so I will sum it up: THIS CRAP DOESN'T WORK. NO ONE IS USING IT AND MAKING MONEY OFF OF IT. WHAT IS THE POINT OF GIVING STUART YOUR MONEY IF THIS CRAP DOESN'T WORK!!!!
Of course it dont work if it did why would he sell it But people will keep paying for this rubbish and so the vendors ike him will appear time and again. Scares me how many people look at a simple moving average and think they have found success.

But that to some point is what fuels the market - losers, which makes it easier for winners. End of day I need losers for me to win in a zero sum game so maybe I sell a WINNING sma system and SELL. Think not.
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Old Jul 2, 2009, 11:50am   #95
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Hi Claudia,
I'm surprised to see you jumping on the 'bash a vendor' bandwagon. I expect your post is well intentioned, but in my view the anti vendor lobby don't apply sound logic or reasoned thinking to their argument.
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Of course it dont work if it did why would he sell it. But people will keep paying for this rubbish and so the vendors ike him will appear time and again.
There are loads of very dodgy people and companies out there selling rubbish and charging a lot for it. There's little doubt about that. However, it is quite wrong to tarnish all vendors as rubbish. There are lots of good ones who offer a good product / service and who have lots of happy customers. E.g. Mr. Charts. He is a very well respected member here on T2W and a well known vendor and I am one of his happy customers. And there are many good reasons why they sell their services and products besides just trading in obscurity. Additionally, I think it's fine for mechanicaldaytrader (ex) students to dismiss his methodolgy as "rubbish" if that's their view based on their experience of his materials. If you are a (ex) student of Stuart's, then I accept your view, otherwise your obsevation is both unfair and unfounded.

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Scares me how many people look at a simple moving average and think they have found success.
So long as the trader is able to distinguish between a trending market and a rangebound market, there's nothing much wrong with a simple MA crossover system. Although I suspect your comment wasn't aimed at the mechanicaldaytrader specifically, Stuart's methodology is a far cry from a simple MA crossover system. Just looking at his website and his posts to this thread will reveal that there's rather more to it than that.

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But that to some point is what fuels the market - losers, which makes it easier for winners. End of day I need losers for me to win in a zero sum game so maybe I sell a WINNING sma system and SELL. Think not.
Of course you're right that those who make money do so at the expense of the losers. I suspect that many of the losing traders have never paid for any tuition and think they can enter the market and make money from their hope and pray trades. If more people paid out good money for good tuition, they might lose less in the markets. There is a place for good tuition in trading, just as there's a place for good tuition in any other sphere of human endeavor. Have you - or anyone you know - ever been to an evening class and really benefited from it? Well there you go - why's trading any different? The really important point in all of this is to distinguish the good vendors with a good product or service to sell at a fair price from the numerous scam merchants. That is a more complex issue. But, the notion that all trading vendors are evil crooks who only pedal their trashy wares because they can't trade themselves is totally ludicrous.
Tim.
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Old Jul 2, 2009, 12:09pm   #96
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"But, the notion that all trading vendors are evil crooks who only pedal their trashy wares because they can't trade themselves is totally ludicrous."

your right tim :-)

sorry to the three in every thousand that are reputable

most would be better saving themselves some money / time and just read through the general articles page on the front of this site for free

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Old Jul 2, 2009, 5:59pm   #97
 
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Tim

Interesting reply thanks for taking the time.

I think Mr Charts is without doubt an exception to the rule and have never said differently.

But as tenbob says most wanna be traders would be better reading this site and learning with demo accounts or whatever. (I dont like demo accounts either - useful to become familiar with a platform that's all. The emotion in real trading is so different).

I learned to be consistently profitable by losing money over a number of years and learning from mistakes. Charts with multi colour crossovers and stochs and rsi etc have all gone out window.

But then every ones different.

Have a good day.
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Old Jul 2, 2009, 10:53pm   #98
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the funny thing is that if mechanicaldaytrader didn't become hysterical and yell abuse every time someone questioned his system he might sell more.
in my experience,i have never in any walk of life, found that skilled people, who are good at what they do ever become annoyed at doubters and criticism, and if its important that people realize that their claims are true they prove it, because they can.
If i walked into a car showroom and asked how reliable one of their cars were, and the reply was "I don't have to prove how good our cars are how dare you question me, its up to you you to prove my cars aren't the best in the universe" well how many cars would they sell?
Its all fairly funny in a very depressing kind of way.
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Old Jul 2, 2009, 11:06pm   #99
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Stuart's act is so annoying to me. What I love is that threads like this and the one on elitetrader will exist to dissuade newbies from getting mixed up with this guy. I was with him in 2006, so the law of averages say that if his methodology was viable that he would have some successful students that would verify the success he claims is possible. Quick story. he mentioned back in 2006 that he had some prop shop in Chicago I believe that was interested in his methodology. Of course that fell completely flat because - HIS CRAP DOESN'T WORK. Part of me kind of admires the hustler work ethic he displays. I mean he doesn't work a 9 to 5 job and derives enough income to take trips and live fairly comfortably. The truth though is he is just one rung above a drug dealer. If someone insists on giving him money at this point what can be done.
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Old Jul 5, 2009, 6:15am   #100
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I just realized something reading this thread. I am pretty sure Stuart did his impersonation act here by posting as aussiepearson. Notice how someone asks about recommendations and then magically aussiepearson makes his one and only post on this board. He is from Florida and has Stuart's tell tale ... style of writing just like floridadaytrade from the elitetrader thread. Seriously, this is my last last followup on this scammer. You have all been warned at this point, so just stay away from this guy.
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