Are Traders at T2W better than the rest ?

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Old Jul 8, 2006, 3:04pm   #1
Joined Dec 2003
Are Traders at T2W better than the rest ?

Hi,

Was just doing some browsing over at an Amreican BB this morning, and noticed how it is fairly common to find threads there dealing with traders who have apparently 'blown up' their accounts.

Quite interesting, and can be quite 'intense' regarding the feedback from contributors and the discussions - however, you do wonder regarding their reality.

Now the question is - how come we do not see similiar threads on T2W.

Is it -
- something to do with our more reserved approach on this side of the 'pond', so less likely to admit failure, or
- that there are less on T2W, who are true full time traders v's the US, so less true 'blow ups', or,
- are we more risk conscious (cultural), and thus less likely to 'blow up'.


Would welcome any comments.
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Old Jul 8, 2006, 3:43pm   #2
 
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Perphaps its because we get back up, dust ourselves off, and concentrate on moving on rather initiating a thread on losing it all.

Where's the point in that?
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Old Jul 8, 2006, 3:43pm   #3
 
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It takes a man a long time to learn all the lessons of his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side.
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Old Jul 8, 2006, 4:14pm   #4
Joined Jul 2003
Quote:
Originally Posted by GreenWelly
the facts of the matter are these... this is a message board... message boards are for words... not actions.... how can you judge actions from words?

you cant...

a lot of people here talk extremely well about trading.. but that is it.. talk ... that is where the genius ends... if all you see is talk .. and you dont see any action to accompany those words... then you're making a judgement without evidence... this is folly

the only answer to your question in the title is .. 'you dont know'

you cant trust words.. only actions... that has been learned the hard way
Have you been here before?
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Old Jul 8, 2006, 4:19pm   #5
Joined Jul 2003
Quote:
Originally Posted by vegas
Was just doing some browsing over at an Amreican BB this morning, and noticed how it is fairly common to find threads there dealing with traders who have apparently 'blown up' their accounts.

Quite interesting, and can be quite 'intense' regarding the feedback from contributors and the discussions - however, you do wonder regarding their reality.

Now the question is - how come we do not see similiar threads on T2W.

Is it -
- something to do with our more reserved approach on this side of the 'pond', so less likely to admit failure, or
- that there are less on T2W, who are true full time traders v's the US, so less true 'blow ups', or,
- are we more risk conscious (cultural), and thus less likely to 'blow up'.


Would welcome any comments.
You'd hardly imagine anyone would be boasting about blowing up their account - so you'd think it's more likely to be true than false. However, there is attached to 'blowing up' a certain macho aura for some which might lead them to think this is a 'big boy' type of thing to do. So, in that case, you'd wonder if it perhaps more likely to be false than true.

Having said all of that I have in the past quite openly stated that my initial forays into the markets led to the complete and total b!uggering of my account - on more than one occasion. With what in hindsight seems more like luck than sense, I managed to find the right way to do business and haven't looked back since.

So, yes t2w traders do burn up and I'm sure more than admit it publicly. But why it would be less prevalent here than on other sites is that we have far too much more intelligent and reasoned discussion to take up our time than mere froth blowing....
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Old Jul 8, 2006, 4:42pm   #6
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i think its more to do with gambling being illegal in most parts of the states, so people with that mentality go to the stock market rather than the bookies, and approach it as a gamble - rather than speculating.

having said that, et does tend to cover some more serious issues for futures traders. if globex or a data feed packs up or something - news announcement like nymex products trading on globex etc it is more likely to be discussed on et than here - people here mostly seem to trade stocks or dabble against bucketshops for some odd reason.
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Old Jul 9, 2006, 7:00am   #7
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Quote:
Originally Posted by westbullion
It takes a man a long time to learn all the lessons of his mistakes. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side.

Hmmm for the market I follow I've only the left side.... Maybe I should chart differently

About blowing up; define blowing up... I guess most selfeducated traders have had severely bad times. It's part of the learning process. Some say they blew up after loosing 50% others need 90% or even over 100% down. I started very small, but had several severe drawdowns that you might call blow ups. I guess one mayor difference is that in the US there are less negative associations with failure. Don't know about the UK, but in the Netherlands after bankrupting business it's hard to get finances to start over again. In the US they tend to see it much more as a good learning experience. This difference in attitude may make people more open about their failures.

grtnx
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Old Jul 9, 2006, 7:57am   #8
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In the UK declaring yourself bankrupt has become very easy. The government changed the rules so that now it is the option of choice for almost anyone with any debt. Many people are now seeing it as an easy way to rid themselves of the consequences of irresponsible spending and poor management of their own finances.

I know of several students as well as others who just wanted a good time who did so by running up huge debts on credit cards with the deliberate intention of going bankrupt to clear the debt. Before anyone starts telling me that doing this makes life difficult for many years after well I know of one person who was declared bankrupt in 2003 who the banks have now allowed to run up loans running into several million pounds.

The government has realised that their intended strategy which was aimed at genuine businesses that had undergone misfortune is being misused by many others but there is not much that they can now do.


Paul
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Old Jul 9, 2006, 8:40am   #9
 
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Quote:
Originally Posted by Trader333
Many people are now seeing it as an easy way to rid themselves of the consequences of irresponsible spending and poor management of their own finances.


The government has realised that their intended strategy which was aimed at genuine businesses that had undergone misfortune is being misused by many others but there is not much that they can now do.


Paul
business dont give a toss, you could put the first paragraph in there and say, those buggers are "seeing it as an easy way to rid themselves of the consequences of irresponsible spending and poor management of their own finances."

Its just a business risk, look at consumerism, the need for consumption being pumped more and more, what does society expect ? we havent hit the top yet, 10 year olds demanding £200.00 quid mobiles. soon to be 8 year olds etc, welcome to capitalism and the western way of life kiddies....... "what you see as great lines she see's as premature ageing" lol lordy lord what next makeup for men ? ohhh. hmm any bloke on here get their nails done yet ? or a chest wax?

they have already started calling womens makeup face filler now on the ads. lol.. added boswellox, 16 year olds wanting tit jobs for birthday... grind it baby.......

as for governments are they moral ? like f***k. tankers.

" they" teach us to drop fire from the sky on other humans, but they wont let us write the word f**ck on the side of our aircraft (or websites) because "they" consider it obscene."

(some sketchy quote from appocalypse now) sums it up.


ooops its sunday. appologies up there.

Fx.

Italy.

Last edited by fxmarkets; Jul 9, 2006 at 9:00am.
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Old Jul 9, 2006, 11:22pm   #10
 
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pennance

Quote:
Originally Posted by fxmarkets
business dont give a toss, you could put the first paragraph in there and say, those buggers are "seeing it as an easy way to rid themselves of the consequences of irresponsible spending and poor management of their own finances."

Its just a business risk, look at consumerism, the need for consumption being pumped more and more, what does society expect ? we havent hit the top yet, 10 year olds demanding £200.00 quid mobiles. soon to be 8 year olds etc, welcome to capitalism and the western way of life kiddies....... "what you see as great lines she see's as premature ageing" lol lordy lord what next makeup for men ? ohhh. hmm any bloke on here get their nails done yet ? or a chest wax?

they have already started calling womens makeup face filler now on the ads. lol.. added boswellox, 16 year olds wanting tit jobs for birthday... grind it baby.......

as for governments are they moral ? like f***k. tankers.

" they" teach us to drop fire from the sky on other humans, but they wont let us write the word f**ck on the side of our aircraft (or websites) because "they" consider it obscene."

(some sketchy quote from appocalypse now) sums it up.


ooops its sunday. appologies up there.

Fx.

Italy.
Right- thats three Hail Mary's and 5 minutes of self flaggelation with a bunch of stinging nettles
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Old Jul 10, 2006, 10:03am   #11
 
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Back in the old days of the Cold War I used to think American Capitalism ,greed, crime and corruption was only marginally less awful than Communist secret police, Gulags etc. That here in Europe we had learnt a thing or two ( usually the hard way ie by revolution ) about social justice and compassion for those less well off.
When my local water company announced a whopping great pay rise on an already huge salary for the Chief Exec. while making many at the bottom redundant and the usual increase in bills, I enclosed a rude letter with my cheque, calling the CEO a greedy pig. Much to my surprise I got a nice letter back pointing out that he hadn't given himself the pay-rise, it was the board of non executive directors that had given him the rise. The letter didn't mention that they are largely on many boards and each other's boards.
What prompts this post is partly the above but mainly the announcement today of huge pay rises at the top of the BBC while making many redundant. The usual hypocracy and cant of bringing top manager's salaries into line with the private sector is made etc. Just because others are ripping off the companies they are meant to be managing, doesn't mean they have the right to as well. Western style rip-off has even reached inside what must have been the last bastion of decent corporate behaviour. Demoralising the next generation with redundancies is no way to run a business. Many of whom desperately need a job to support young families, The top people already have all the luxuries that can be bought. Do they need more ?
Shame on the GREEDY PIGS at the top. The top Socialists are too busy bonking the staff, quaffing champagne etc etc to do anything but make a few noises in Parliament. They might not get promotion or perks in the next round.
Think TEAM Britain - not everyone for himself.
Who to vote for - blowed if I know
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Last edited by Pat494; Jul 13, 2006 at 9:47am.
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Old Jul 10, 2006, 11:40am   #12
 
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You Know It Makes Sense.

Quote:
Originally Posted by Pat494
Who to vote for - blowed if I know

http://www.trade2win.com/boards/show...707#post256707

Rest assured my office expense allowance 120K per annum will be put to very good use.

honourable Member of sorts

Fx.
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Old Jul 10, 2006, 1:11pm   #13
 
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Hear hear I'll drink to that and pass the Vodka !!
Not the glass dear boy - the

bottle
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Long live NIMBYISM

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Old Jul 11, 2006, 6:27am   #14
 
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Are we better than the rest? Dunno,
but I am certain we are all more charming and better looking!
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