What is everyone's thoughts on Chat With Traders?

[seekingTruth16]

Every profitable directional trade is a case of buy low and sell high. It's not really saying much. You may as well say, go long and get your exit higher than your entry.

So yes, buy low and sell high is right. But to determine what's currently low and what's high is not so easy.

 

[EnlightenedJoe]

That unfortunate traders dilemma of being possessed of a vast surfeit of talent, yet an inconsequential amount of funds.

Wouldn't it be quicker to get a paper round?

How much does a paper round pay ? I haven't looked into that before. If it yields 5 figures every 6 months, I'll certainly consider taking on multiple rounds.

 

[EnlightenedJoe]

You may as well say, go long and get your exit higher than your entry.

I say that all the time. But people don't listen. They insist on buying high selling low. If we were to look at your own broker statement, same story is there.

But to determine what's currently low and what's high is not so easy.

It''s not easy to ride a bicycle either. But once you get the hang of it, it becomes natural.

 

[Fill_Or_Kill]

How much does a paper round pay ? I haven't looked into that before. If it yields 5 figures every 6 months, I'll certainly consider taking on multiple rounds.

Well I was discounting the hubris element here - an affectation found in many new naked traders clutching at small wins - so yes you'll earn more.

 

[seekingTruth16]

That unfortunate traders dilemma of being possessed of a vast surfeit of talent, yet an inconsequential amount of funds.

Wouldn't it be quicker to get a paper round?

As I posted elsewhere, unless you've got 200k+ as an account, and know what you're doing, you'll be better off getting a job.

 

[seekingTruth16]

Thanks for the link to Chat With Traders.

There's a podcast called 80,000+ hours of screen time with...

If you put in 50 hours per week staring at a screen, you'll end up with 2,500 hours taking almost no holiday. So we're talking 34 years+ (don't forget the +) of sitting staring at a screen, no holidays, long hour working weeks...do you think he's got his maths wrong, or have I?

 

[EnlightenedJoe]

Well I was discounting the hubris element here - an affectation found in many new naked traders clutching at small wins - so yes you'll earn more.

I imagine the paper rounds in your area pays more. But we don't all live near big mansions. Around town houses, milk rounds don't really pay. People just go to lidl's.

Even a big tree grows from a tiny acorn. Even a big mansion is made from tiny bricks. 5 figures today may mean 6 figure tomorrow. There's no law that says it can't be 7 figures after. Ad infinitum, so long as the shop is wise enough pass on the risk to the big boys.

Not all of us start with a silver spoon up the place where the sun don't shine. So yes, we start with acorns and not really ashamed of it.

 

[EnlightenedJoe]

Thanks for the link to Chat With Traders.

There's a podcast called 80,000+ hours of screen time with...

If you put in 50 hours per week staring at a screen, you'll end up with 2,500 hours taking almost no holiday. So we're talking 34 years+ (don't forget the +) of sitting staring at a screen, no holidays, long hour working weeks...do you think he's got his maths wrong, or have I?

It took me around 24/7/365/5. But I am a quick learner.

 

[Fill_Or_Kill]

Thanks for the link to Chat With Traders.

There's a podcast called 80,000+ hours of screen time with...

If you put in 50 hours per week staring at a screen, you'll end up with 2,500 hours taking almost no holiday. So we're talking 34 years+ (don't forget the +) of sitting staring at a screen, no holidays, long hour working weeks...do you think he's got his maths wrong, or have I?

I suppose it's possible in 20 years if you work 70 hours a week, but likely BS as you say.

 

[seekingTruth16]

It took me around 24/7/365/5. But I am a quick learner.

24/7/365/5=0.0018786692 hours. Damn you're fast at getting this. Kudos.

 

[EnlightenedJoe]

24/7/365/5=0.0018786692 hours. Damn you're fast at getting this. Kudos.

The number's a bit off. Perhaps our resident math teacher will help improve your math.

 

[seekingTruth16]

I suppose it's possible in 20 years if you work 70 hours a week, but likely BS as you say.

Perhaps. Doesn't seem like a sensible way to go about things though. How about 10,000 hours learning to program. 10,000 hours researching a system, 10,000 hours working on fundamentals, 10,000 hours backtesting, 10,000 hours screen time, 10,000 hours trading and....10,000 hours working a job to build up a decent stake.

 

[Fill_Or_Kill]

I imagine the paper rounds in your area pays more. But we don't all live near big mansions. Around town houses, milk rounds don't really pay. People just go to lidl's.

Even a big tree grows from a tiny acorn. Even a big mansion is made from tiny bricks. 5 figures today may mean 6 figure tomorrow. There's no law that says it can't be 7 figures after. Ad infinitum, so long as the shop is wise enough pass on the risk to the big boys.

Not all of us start with a silver spoon up the place where the sun don't shine. So yes, we start with acorns and not really ashamed of it.

You're right about progress I'm sure, so long as you multiply your expected timeframe to riches by about 10... or 100. If you truly have a special talent then by the 3rd year of returns you should look to get funded to avoid wasting a decade or two of your life compounding dogturd returns. 3-4% management fees on capital deposits and a 20-30% profit share taxed at CG rates do add up.

Money talk is always crass, but then I didn't have the big mouth you did when I was new so it felt warranted...

I was not born wealthy.

I'm off for the evening - good larks. We'll pick this up again.

 

[EnlightenedJoe]

Perhaps. Doesn't seem like a sensible way to go about things though. How about 10,000 hours learning to program. 10,000 hours researching a system, 10,000 hours working on fundamentals, 10,000 hours backtesting, 10,000 hours screen time, 10,000 hours trading and....10,000 hours working a job to build up a decent stake.

Or you could spend a couple of month learning buy low sell high. Basic math, even 5 years olds can do it.

 

[EnlightenedJoe]

You're right about progress I'm sure, so long as you multiply your expected timeframe to riches by about 10... or 100. If you truly have a special talent then by the 3rd year of returns you should look to get funded to avoid wasting a decade or two of your life compounding dogturd returns. 3-4% management fees on capital deposits and a 20-30% profit share taxed at CG rates do add up.

Money talk is always crass, but then I didn't have the big mouth you did when I was new so it felt warranted...

I was not born wealthy.

I'm off for the evening - good larks. We'll pick this up again.

Lots of people have big mouths, though some hide them well.

I reckon your expectation of low rate of returns comes from too much chat-with-traders stuff. Those misinform.

It all depends on someone's ambition. Getting 7 figures from an acorn is acceptable to me. Beyond that, things needn't stop since trading only requires the skills akin to waiting for paint to dry, not much work at all. I don't particularly care for being employed by other people's money.

 

[Fill_Or_Kill]

Lots of people have big mouths, though some hide them well.

I reckon your expectation of low rate of returns comes from too much chat-with-traders stuff. Those misinform.

It all depends on someone's ambition. Getting 7 figures from an acorn is acceptable to me. Beyond that, things needn't stop since trading only requires the skills akin to waiting for paint to dry, not much work at all. I don't particularly care for being employed by other people's money.

Where are you from originally out of interest? Never met someone who says "math" from the UK.

Thank you for "enlightening" me as to how the markets work, Joe. Nothing more informative than the pearls of wisdom from an unhinged first year trader. I look forward to seeing you and your 7 figure returns in the near future.

 

[EnlightenedJoe]

Where are you from originally out of interest? Never met someone who says "math" from the UK.

Thank you for "enlightening" me as to how the markets work, Joe. Nothing more informative than the pearls of wisdom from an unhinged first year trader. I look forward to seeing you and your 7 figure returns in the near future.

I was top of the class in math in school. Now I can't do 9 x 7. So, not knowing how to spell is for the same reason. Why didn't t2w spell checker help out ? Now I have to deduct a point from t2w. Bad job Tim, man up and fix it !

7 figures sound impossible to you. I am surprised, it's not that much money considering the inflation. It's only 1 digit more than 6 figures. I don't consider 6 figures being too hard. Of course as the number gets bigger, there will be new problems. The shop might have a problem with it for instance if their money is involved. But multiple smaller accounts at different shops should work.

I don't do personal stuff on the internet. So, can't give you answer.

I am not a trader in the normal sense. I am just trying to extract money from the market for my own account. I have been at it for many years before attaining a break through. So I don't consider myself as a first-year'er.

I wasn't trying to enlighten you. Your thread requested a thought and I offered it. I am flattered you took it as enlightenment.

 

[Fill_Or_Kill]

I was top of the class in math in school. Now I can't do 9 x 7. So, not knowing how to spell is for the same reason. Why didn't t2w spell checker help out ? Now I have to deduct a point from t2w. Bad job Tim, man up and fix it !

7 figures sound impossible to you. I am surprised, it's not that much money considering the inflation. It's only 1 digit more than 6 figures. I don't consider 6 figures being too hard. Of course as the number gets bigger, there will be new problems. The shop might have a problem with it for instance if their money is involved. But multiple smaller accounts at different shops should work.

I don't do personal stuff on the internet. So, can't give you answer.

I am not a trader in the normal sense. I am just trying to extract money from the market for my own account. I have been at it for many years before attaining a break through. So I don't consider myself as a first-year'er.

I wasn't trying to enlighten you. Your thread requested a thought and I offered it. I am flattered you took it as enlightenment.

You're trying much too hard now Joe - it seems you've taken it upon yourself to be the current resident jobless disruptor of threads, and this is just waffle - you're not a trader in the normal sense because you're not a trader, or even close. A hobbyist at best, as you well know. Are you quite positive this odd mix of cluelessness and cynicism will work for you in the long run? Perhaps you should apply your "math" skills in the same way Rentec do, rather than picking tops and bottoms with micro lots? You'll make a lot more. Someone trading in $10,000 lots talking about 7 figures is outright cringeworthy.

One thing you do actually know that I'm genuinely interested in is why did you choose the UK flag when you're not from the UK (a variety of inflections give you away) - I don't get why people do that? Personally I'd choose somewhere much more exotic, with better food.

 

[EnlightenedJoe]

You're trying much too hard now Joe - it seems you've taken it upon yourself to be the current resident jobless disruptor of threads, and this is just waffle - you're not a trader in the normal sense because you're not a trader, or even close. A hobbyist at best, as you well know. Are you quite positive this odd mix of cluelessness and cynicism will work for you in the long run? Perhaps you should apply your "math" skills in the same way Rentec do, rather than picking tops and bottoms with micro lots? You'll make a lot more. Someone trading in $10,000 lots talking about 7 figures is outright cringeworthy.

One thing you do actually know that I'm genuinely interested in is why did you choose the UK flag when you're not from the UK (a variety of inflections give you away) - I don't get why people do that? Personally I'd choose somewhere much more exotic, with better food.

What, I am not allowed to live in the UK ?

As you wish, I am not a trader. So what ? It doesn't change a single thing. No idea who rentec is. They are in rental business ? Yes, it works for me short, medium and long term.

If you know how to do it better, feel free to demonstrate. Nothing can change the way I do it. Nor would I be convinced by anything but a demonstration.

I don't consider 6 figures to be difficult, 7 figures is not far away from 6. I can aspire for it if I so wish. Given your apparent belief in the impossibility of it, I imagine your own returns must be quite small, not even 20% per year ? Well, today my passive yield stands at 16%/year. So I just hold and do nothing to get that. Of course I also trade (call it gamble if it makes you happy).

Don't know about $10k lots. I'll do what seems appropriate. I might do $20k lots, or $30k, or $40k, or $50k if there is a reason for it. Why, I even have a 1.8k lot. But I don't like that trade all that much and it was just a play with another guy. I use it to influence his trade.

 

[EnlightenedJoe]

So, you are a yank in the UK, since you talk in $ terms ? You certainly have the characteristics in the typical attempt in personal attacks. It doesn't work with me since I don't give people a handle to grab hold of. I used to play quite a bit on US forums, and familiar with the style.